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5 Good Reasons to Shop for Bike Insurance

13 July 2022, 11:13 PM

The Indian population has an unmatched obsession with two-wheelers. They cater to our needs with low maintenance costs and offer an easy commute option. However, bikes are prone to daily wear and tear. In such situations, owning a good bike insurance policy is a boon to the riders. Moreover, the Government of India also mandates that riders insure their bike insurance policies.

One of the most crucial steps in selecting a bike insurance coverage is comparing two-wheeler insurance policies online. The process is quick and easy. So, if you've already decided on a bike insurance plan, wait till you examine and compare it with other similar two-wheeler insurance policies.

Benefits of Comparing Bike Insurance

The following guide will help you understand the benefits of comparing bike insurance before committing to a plan.

Guides You in Choosing the Most Suitable Policy

Generally, there are insurance policies for bikes in India: third-party insurance, standalone own damage, and comprehensive two-wheeler insurance.

1. Third-party Insurance
  • It covers consequences or liabilities arising from third-party losses or damages caused by the insured bike.
  • However, Third-party bike insurance does not cover any damage the insured two-wheeler may have suffered.
2. Standalone Own Damage
  • It shall cover any damages to the two-wheeler due to natural disasters or man-made actions.
  • The standalone own damage bike insurance policy, however, does not protect you from any third-party liabilities that may arise from an accident.
  • You can include add-ons to this policy.
3. Comprehensive Two-wheeler Insurance
  • It covers the bike's own damage, any third-party claims, and personal claims for the accident by the owner.
  • By including certain add-ons to your comprehensive two-wheeler insurance, you may obtain specialised coverage.

Riders should opt for comprehensive bike insurance policies for maximum protection. Your insurance provider will reimburse the cost of restoring the damaged bike due to accidents, theft, fire, natural or man-made disasters. Besides, these policies protect you against third-party liabilities and offer personal accident coverage for the bike's owner/driver.

While the standalone damage cover does not offer protection against third-party claims, you can buy it in addition to a third-party insurance policy, which is mandatory under the Motor Vehicles Act, 1988.

Better Understanding of Policy Terms

When comparing two-wheeler insurance policies online, you will learn about their features, inclusions and restrictions. It helps you understand your policies better and enables you to make more objective assessments. This is only possible if you compare multiple policies from different insurers.

Before comparing bike insurance policies online, you should assess your needs first. Precise knowledge about what you want from your plan streamlines the overall process. During any two wheeler claim settlement, such factors can make a tremendous difference. Therefore, you must examine the exclusions of the two-wheeler insurance coverage with extreme caution. Once you gain a better picture of the available policies, you can choose the most appropriate insurance policy based on your needs. 

Compatibility with Claim Procedures

When comparing motorcycle insurance online, there is more to consider than pricing alone. You should also investigate the claim settlement process of multiple insurers. This makes you aware of the steps you need to follow should you file a legitimate bike insurance claim in the future.

If an insurer has a low claim settlement ratio or a high number of claim rating complaints, it is advisable to avoid such a company. Therefore, while acquiring a two-wheeler insurance coverage, check that the insurance company allows you a hassle-free claim process.

Assists in Determining an Insurer's Reliability

Not only is it crucial to purchase the best coverage, but also to do it from a reputable insurer. With so many insurance carriers in the market, choosing one for your bike insurance requirements might be difficult.

Comparing bike insurance allows you to identify the best insurance providers considering the particular services they provide, such as prompt repairs, convenient pickups, and helpful customer services. When determining a company's dependability, you may read customer reviews to learn about the quality of the insurer's services.

In addition, you will also learn how well an insurance firm handles claims. This will help you pick the insurance company that best suits your needs.

Provides Unbiased Information and Helps You Purchase Adequate Cover

Different insurance agents or salespeople could tempt you with attractive offers which might include hidden terms and conditions. But comparing insurance policies online eliminates the cost of these agents or brokers. This prevents you from purchasing extras that you do not actually need.

If you visit an insurance comparison website, you will have immediate access to full policy and premium information. Therefore, compare bike insurance coverage online and don't take the words of agents or sales executives seriously.


When searching for an insurance policy for your bike, it is safer to do so online. You can get holistic information about coverage, premium, and other details of different bike insurance policies online. You could thus compare policies better. For example, which insurance service provider's claims process is simpler and quicker? You can know it within a few minutes through trusted sites like Paytm Insurance.

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1. What do different bike insurance policies offer?

A comprehensive two-wheeler insurance policy covers loss or damage to the insured two-wheeler, the financial liability to a third party, as well as injury, disability or death of the driver. Whereas a standalone own damage policy covers the policyholder and the insured bike against damages. A pure third-party policy will only cover third-party claims resulting from an accident with your insured bike.

2. How to compare different bike insurance policies?

You can do so online. Aggregators such as Paytm Insurance allow you to compare different bike insurance policies based on coverage, premium, additional features, etc. 

3. How can I benefit by comparing different bike insurance policies online?

It will help you figure out the best bike insurance plan for you. Ensure you select the plan that covers you optimally against uncertain events for a reasonable premium.

4. Can I compare the claim process of different bike insurance companies?

Yes, you can! Insurers mention the claim process on their websites. You can check the same and implement the same should a need arise in the future.

5. What information and documents do you need to apply for an insurance claim?

Though the paper requirements may vary per insurer, in practice, you need to submit the following to file for an insurance claim.

1. Details of your bike, such as registration number, model, policyholder's details, etc.

2. A copy of the bike Registration Certificate.

3. Duly filled claim form, including the details about the incident.

4. Receipt and invoices for maintenance and repairs of the damage.

5. Extent of the loss and its estimates.

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