Knowledge Centre

A Guide for Buying A New Bike Insurance

Published on July 17, 2020. EST READ TIME: 5 MIN

Accidents happen on roads. Period. And the worst part is that it doesn’t come informing you. And while you are nursing an injury or a broken bone, the only thing that can sound remotely comforting is the fact that your bike was probably insured and that you will not go bankrupt paying for the repairs of your damaged bike.

Why you should buy a Bike Insurance

You should get a bike insurance simply because it is mandated by the law. Even if it weren’t a compulsion, it would still be a necessity. Riding a bike is riskier than driving a car because the person on the motorcycle is more vulnerable to injuries compared to someone inside a car. And the insurance pays for the damages towards injury, damage or theft of the vehicle and third party liability i.e. if you crash your bike into someone else or injure someone, your insurance will pay for the repairs, not you.

What are the insurance plans available

There are basically two types of insurance plan:

  • Liability only policy: It covers bodily injury (or death) or property damages of any third party.

  • Package/comprehensive plan: It includes damage to your own vehicle as well as that of the third-party. Apart from accidents, it also has own damage covers theft and damage to the vehicle by any natural calamity like floods or storms etc. and man-made reasons like riots and vandalism. The first policy is mandatory by law but the second one is optional.

Things to consider before buying a bike insurance

From a customer point of view, it’s crucial that an insurance company has a good market reputation when it comes to settling claims. Speak to other customers or read reviews online about the company’s claim service before taking the call.

New bike insurance policy’s terms and conditions should be read very carefully. Comparisons must be done between policies offered by different agencies on parameters like features, premiums, benefits, discounts, no claim bonuses and exclusions.

How to buy a new bike insurance online

Most insurance companies offer purchase of bike insurance on its website. For example, one can go to the website of HDFC ERGO and then get the idea of amount to be paid using the new bike insurance calculator. All you have to do is fill the correct details like purchase date, registration date, previous claims, Insured Declared Value etc. The premium that usually ranges from Rs 1,500-5,000 for Rs 1 lakh cover over a term of 1 year, suits your annual budget, you can click on the option of the insurance company to contact you. Many companies also generate the policy online in form of PDF. Get a printout and keep it with you. It’s quick and convenient to get the new bike insurance online.


The law makes it binding to have bike insurance but it serves a greater purpose and shouldn't be considered a necessary evil. However, one shouldn't rush the process and instead do thorough research to understand which deal from which company suits his/her needs the best.

The whole process of getting a new India bike insurance online or even renewing it has got simpler over the years. The old way to meeting agents is both time and energy consuming. In this digital era, all you have to do is go online. You can check and compare the prices, benefits, bonuses, exclusions etc. and make a wiser choice, all sitting at home. Now go vroom vroom!.

This blog has been written by

S. Gopalakrishnan | Motor Insurance Expert | 40+ years of experience in insurance industry

A veteran in insurance industry. S. Gopalakrishnan is a name to reckon with in the field of reinsurance, he has headed the Reinsurance department and has rich experience in other fields of motor insurance. He loves to share his opinion on latest topics in the insurance industry and how he can help people in safeguarding their assets using insurance products.

S. Gopalakrishnan recommends "HDFC ERGO for your vehicle insurance needs, it has always put customer’s interest at the forefront, with round the clock assistance to deal with emergency breakdown issues and hassle free claims process. You can be assured of complete and reliable guidance through the whole process".

Few other articles

  • 5 Ways to Save On Bike Insurance

  • Is long term two wheeler insurance plan beneficial?

  • How to Choose Two Wheeler Insurance?

  • Awards & Recognition