header Two Wheeler Insurance

How to Get a Lower Bike Insurance Premium?

By Vikas Chandra Das
13 October 2022, 2:49 PM

Compared to other vehicles, two-wheelers account for the largest share of the Indian transportation market. The most practical way to navigate congested and tight roads is by bike or scooter. The two-wheeler needs to be insured in case of tragic loss or damage.

Your motorcycle must have third-party insurance coverage. You must purchase comprehensive bike insurance coverage to safeguard your bike. It's crucial to acquire the most coverage possible for your bike at the lowest possible cost when buying bike insurance. Here are some quick ideas to lower the cost of your two-wheeler insurance.

What Factors Affect the Cost of Your Two-wheeler Insurance Premium?

When looking for the greatest bike insurance policy available, it is logical to want the best at the lowest price. This is possible if you have maximum coverage while paying a reduced two-wheeler insurance rate.

The amount you pay to the bike insurance company depends on several factors in your bike insurance price. Before you purchase or renew two-wheeler insurance, you must thoroughly understand the premium's components. Some of them are:

  • Bike's Engine CC
  • Cost of the Bike
  • Registration State
  • Modifications
  • Riding Skills
  • Anti-theft Devices
  • Memberships, and More

Guidelines for Lowering Your Two-wheeler Insurance Premium:

1. Insurance Policy Comparison

Start by comparing the insurance plans offered for your two-wheeler on the market. Online bike insurance comparison is the most effective way to do this. You may get two-wheeler insurance quotes from insurance firms by using the internet to communicate with them.

Make sure you choose the most appropriate bike insurance by comparing insurers' coverage and extra advantages. Additionally, comparing insurance will help you find a plan that provides more coverage at a reduced cost. 

2. Refrain from Filing Small Claims

Suppose you haven't filed a claim throughout the policy period. In that case, the insurer will offer a No Claim Bonus (NCB) when you renew your bike insurance policy. This may reach 50%.

When renewing the policy, making little or negligible claims will prevent you from receiving the NCB discount. Consequently, your premium will be more than insurance if you use the NCB as a reduction.

3. Select the Right Add-on Covers

The standard bike comprehensive insurance policy is supplemented by add-on covers, which offer more protection. However, there is an additional fee that must be paid. By selecting unnecessary or extra add-ons, you will only be able to raise the cost of your bike Insurance rather than lower it.

4. Timely Renewal of Your Insurance Policies

Make sure to renew your bike insurance on/before the deadline, and do not let it expire. The NCB bonus only lasts 90 days after the due date after the automobile insurance expires and before it expires. To avoid paying a higher premium, it is essential to renew your bike insurance before the deadline.

5. Put Anti-theft Devices in Place

Suppose you install security features like anti-theft alarms on your two-wheeler. In that case, insurance firms will offer lower bike insurance costs. It conveys your intention to protect your bike and prevent unintended harm or loss.

To receive the two-wheeler discount, ensure the security devices have approval for the Automotive Research Association of India (ARAI).

6. Purchase from the Same Insurer

Purchase the bike insurance plan from the same insurer if you have already purchased other insurance products, such as health, travel, etc. The insurance provider might provide loyalty points that can be redeemed for a discount on the cost of bike insurance.

7. No Claim Bonus (NCB)

Make sure to use the NCB to lower the premium whether you renew your insurance with the same insurer or a different insurance provider. Make sure not to file small claims when renewing at the same insurer to keep your NCB. Obtain the NCB certification from your existing insurer if you want to switch your insurance to qualify for the lesser premium.

8. Demand Discounts

Asking for a discount when renewing or purchasing new two-wheeler insurance is not harmful. Insurance companies could provide discounts to market their insurance packages. Get discounts to reduce the cost of your bike insurance.

9. Driving History

New-age digital insurance providers may examine your driving patterns to decide the premium, even while you receive the NCB for driving safely & not filing any claims during policy time. Maintain a solid driving record by being cautious on the road.

10. Increased Deductible

The insurance provider will not cover the whole cost of the repairs while settling the claim. You would be needed to pay a deductible, which is a predetermined proportion. A bigger deductible can lower your two-wheeler insurance cost.

11. Join an Automobile Association or a Recognized Motor Riding Organization

Some motorcycle clubs and organizations provide members with discounts on automobile insurance. Take advantage of the discount to lower the cost of your bike insurance if you belong to one of these groups, such as a touring club or an auto association.

Read more - How to Decide on the Premium Amount for Your Bike Insurance


According to the 'Motor Vehicles Act', you must carry at least third-party insurance on your bike. Riding a two-wheeler on Indian highways without a valid insurance policy is a traffic infraction. Although comprehensive insurance is not required, it economically protects you if your two-wheeler is damaged or stolen.

Insuring your bike comprehensive coverage can lessen the financial consequences of losses or damages and save money. You can easily reduce your bike's premium by following the above-listed methods. 

Read more - A Guide to Change Your Bike Insurance Policy


1. Why are certain bike insurance plans available online so inexpensive?

Without brokers or intermediaries, modern digital insurance providers like Paytm Insurance offer insurance to the user directly. Online insurance is useful for finding, comparing, and purchasing two-wheeler insurance coverage. Also, there are many ways by which you can lower your bike's insurance premium, as listed in the above article. 


2. How do I submit an NCB claim for my two-wheeler insurance?

When renewing the coverage, the NCB may be claimed. It is a discount for refraining from filing any claims throughout the policy duration. This can also be transferred to a new insurance provider during the renewal.


3. How do I pick the finest insurance for a two-wheeler?

Compare numerous insurance quotes offered by various insurance providers. Make sure you purchase the insurance plan that best suits your needs and provides the most coverage for the cheapest bike insurance price. You should also remember that the listed premium can be reduced in some ways listed in the above article. 


4. What factors affect my bike insurance premium?

Some factors affecting your bike insurance premium are your riding skills, bike model, modifications, additional passengers who opted for bike insurance, and anti-theft systems. 


5. Can I reduce my bike insurance premium if I drive safely?

Yes, you can get your bike insurance premium reduced in many ways. Some of the ways are listed in the above article. 

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