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A Complete Guide to Settle Your Bike Theft Claim

By Juhi Walia
28 July 2022, 11:47 AM

In India, two-wheelers are one of the most convenient ways of commuting, primarily for office-goers. Bike theft is a widespread practice in India, and in most cases, the vehicle stands untraceable and uncovered too.  

Bike theft is much simpler to carry out than four-wheelers because it is easy to move them without a key. However, with a reliable bike insurance plan, you can get ample financial support should you encounter such a mishap. But do note that not all bike insurance policies cover theft.

Here's a comprehensive guide to help you know which bike insurance policies cover bike theft claims, the process involved in the same, and much more. Let's read on!

Bike Insurance Claim Process

The Motor Vehicles Act, 1988, makes it mandatory for every two-wheeler owner to have valid bike insurance to ride on Indian roads. Comprehensive two-wheeler insurance and standalone own damage  bike insurance plans protect the owner against financial losses should the bike get stolen at any time. 

If an insured bike gets stolen, and the vehicle is untrackable despite a police complaint, the insurance-holder can file a bike theft insurance claim on their bike insurance policy. 

Bike insurance can help you get reimbursed for your loss value as per the IDV in bike insurance or the insurance declared value of the vehicle. With multiple companies offering bike insurance online, it has become very convenient to claim settlements for your bike theft. 

Read more - Here are the Answers to All Your Two Wheeler Insurance Claims Queries

Step by Step Guide for Bike Theft Claim

Check below the steps you should take for claiming bike theft under a two-wheeler insurance plan.


Upon bike theft, the first and foremost thing to do is file an FIR with the nearest police station. In the report, you need to list the following:

  • Detail the incident.
  • The time of theft.
  • The place from which the motorcycle is stolen.

A copy of the FIR report needs to be kept handy for you to fill up and complete your bike insurance claim settlement process.


Next, you need to inform your insurance company or the insurance provider about the entire incident. 

  • You can dial and report on the helpline number of the insurance provider.
  • Alternatively, you can write an email to them.
  • You should intimate your bike theft claim within 24 to 48 hours of the incident for a hassle-free claim settlement. The claim intimation deadline may vary from one company to another. So, check the timeline set by your insurance provider and adhere to it in real time. Not following the same could lead to a rejection by the insurer.


Inform the local RTO with which your bike has been registered. As per the law, it is compulsory to inform the RTO about the incident in bike theft cases.


The next step is to submit an untraceable report to the insurer to complete your insurance claim settlement for bike theft. This document is highly essential as it would prove that your vehicle stands untraceable despite the police trying their best to do so. 


The bike insurance provider will now appoint a surveyor to inspect the case. You have to wait to get the surveyor’s report confirming that the incident is authentic; that is, it has actually occurred and has not been created. The official would verify the documents and their authenticity, and based on the findings, your two-wheeler insurance company would issue the compensation amount equivalent to your IDV. This step is crucial in your bike theft claim settlement process.


The last step is to wait to get your money in your savings account, which your insurance provider would transfer against your two-wheeler insurance policy online. The claim amount will automatically be sent to your savings bank account once the insurance provider has verified all the documents in detail. However, it may take a couple of days for the money to reflect in your bank account. 

Read more - Easy Steps to File a Two Wheeler Theft Claim

Important Documents Required for Your bike insurance Online

To complete your bike theft claim settlement process, you must submit the required documents; failing to do so may make your bike insurance provider reject your appeal. The documents to be submitted are:

  • Your bike insurance policy certificate.
  • Your authorised driving licence.
  • Your bike’s registration certificate.
  • A copy of your bike theft’s FIR report.
  • RTO transfer papers.
  • The police report of the non-traceability of your bike.
  • Duly filled in the claim form along with your signature.
  • Your bike’s original keys.

Submit essential documents and belongings to the insurance provider to round up your bike theft claim settlement process successfully. 

Points to Know about Two-wheeler Theft Claim Settlement

Two-wheeler theft claim settlements are easy to process; all you need to do is keep these significant points in mind. 

Opt for an optimum IDV

Even though selecting a lower IDV in bike insurance amount can save you from paying higher premium amounts, it is advisable to choose the most suitable IDV even if that would end up in a higher premium payable amount for you. So, optimize your IDV while keeping the premium fairly reasonable for you. It would help immensely when making a bike theft settlement claim. You should consider various factors before choosing the IDV for your bike, such as make, CC, model, etc.

When the Stolen Bike is Recovered 

If the stolen bike is recovered, the insurance provider will not pay any amount as claimed. However, if the bike was taken on a loan, the bike insurance company would reimburse the pending payout amount to your two-wheeler financier, while the remaining amount would have to be paid by you. 

Renew Two-wheeler Insurance on Time

If your two-wheeler insurance has expired, then it is of no use. You must renew your bike insurance plan timely to keep it active. A simple bike insurance online renewal process would save you both time and money. Hence, keeping your insurance plan active is essential if you wish to get covered against bike theft or any other unforeseen circumstances involving the insured two-wheeler.

Final Take

An insurance plan with a reliable insurance provider like Paytm insurance can provide complete financial support to a motorist and their family in case of any mishap or unforeseen occurrence of events. All they need to ensure is that the policy they have taken out is a comprehensive bike insurance and is always active. 

Read more - Is Two Wheeler Inspection Mandatory For Claims?


1. Can I claim insurance for a stolen bike?

Yes, you can get a claim from your insurance company for a stolen bike after filing an FIR with the nearest police station. You can call up the insurance provider's helpline number, and they will guide you through the process.

2. How much time does it take for a claim settlement to take place?

As per IRDAI rules, all claim settlements should be settled within one month of their application. However, this may be delayed in cases where the cause of death needs to be investigated. 

3. Is it worth reporting for a stolen bike?

It is advisable to report your insurance company immediately about a stolen bike for a hassle-free insurance claim settlement. Also, you need to file an FIR with the nearest police station to support your claim.

4. Do police investigate stolen bikes?

Yes, the police investigate your report about stolen bikes thoroughly. 

5. Is filing a bike theft claim and FIR enough for settlement?

These are important to do, but the claim settlement is also based on the non-traceable report you will get from the police later. Based on the report, the surveyor will do further checks to ascertain the authenticity of the incident and your claim. The insurance company settles your bike theft claim post successful verification on all counts.


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