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How to Get Discounts on Bike Insurance in 2022?

By Juhi Walia
27 July 2022, 11:52 AM

Every vehicle owner in India must insure their bike to save themselves from paying fines and get financial aid for any mishap. Numerous bike insurance companies all over India have different policies at different prices. One can always negotiate and bargain the cost to get a desirable discount. But sometimes, people believe these skills do not work when purchasing or renewing two-wheeler insurance. Yes, it's true; we cannot bargain or negotiate the price of a bike insurance premium, but you can quickly get a discount on the premium amount. The money saved from these discounts only makes your two-wheeler insurance memorable. So let's dive into the article to learn the best tips to get a discount on your two-wheeler insurance policy

Why Can't You Avoid Buying Two-wheeler Insurance?

Before knowing how to get good deals and discounts on your bike insurance policy, you should understand the importance of bike insurance. As mentioned above, having bike insurance is compulsory because, as per Indian law, every bike owner must have 3rd party bike insurance. This insurance allows financial assistance against third-party liability in case of an accident. So, all the losses and damages incurred to a third party because of an accident are covered by a 3rd party insurance policy. 

You can also choose comprehensive bike insurance, which allows broader coverage, including the mandatory third-party liability cover. You can also get financial aid against theft, natural damage, artificial damages, etc. So, you should buy bike insurance and always renew it before the expiry. 

Read more -Avoid These Common Mistakes While Buying Bike Insurance Policy

Ways to Get Discounts on Bike Insurance

Since we cannot avoid purchasing a bike insurance policy, which is not a one-time thing, saving on the premium cost is imperative. Everyone needs to buy and renew bike insurance every year. However, the best way to ensure the right deal is to look for discounts on your plan and places where you can save more money. So, follow the tips to get a discount on your insurance premium amount.  

Look for a Spotless Driving Record

Every country has various traffic rules which everyone must follow. You can get a discount on your bike insurance premium if you maintain a clean driving record without breaking any laws and regulations. Moreover, you can also save yourself from paying a fine and reduce the risk of accidents. 

Drive Safely to Keep Yourself Away from Mishap

Driving a bike safely helps you get a discount on your insurance premium and can reduce the risk of meeting mishaps. When your motorcycle meets with any accident, you need to raise a claim, and you lose the golden opportunity to get a discount on your premium. 

Take Membership in Automobile Association

When you take membership in an automobile association, you can avail of various benefits and a special discount on the motor insurance premium value. Buying this membership can also allow a person global benefits like a driving license in about 130 countries. 

Go for Deductibles

Every two-wheeler insurance policy has two types of deductibles- compulsory and voluntary. You can manage your deductible as per your insurance needs. You can set an agreement with your insurer, and you need to pay the claim amount at the percentage set during the agreement while raising a bike insurance claim. Thus, the company will offer you a discount on a premium because you are ready to pay a fixed part of the amount. 

Compare Your Policy

There are various bike insurance policies; therefore, comparing multiple policies will help you to determine the premium value and features of different plans. You can contact multiple companies to ask them about the plans so you can make better decisions. Paytm Insurance is another good destination to compare policies and pick the one with maximum coverage and reduced premium.

Buy Policy Online

Almost every bike insurance company currently allows online service so that you can buy bike insurance online without hassle. Buying or renewing your policy online eliminates the need for a middleman and their commission; thus, you can save money on your insurance premium. 

Read more - Is Online Bike Renewal Really Safe?

Install Safety Quotient

When you install anti-theft devices on your vehicle, it will provide your bike with additional security. Thus, you can reduce the risk of theft, helping you reduce your bike insurance premium.

Get Complete Knowledge About Discounts

Before any conclusion, you need to inspect the policy and its discount thoroughly. Some companies allow additional discounts on tenure and other elements. So, contact your insurer and ask about various discounts. 

Read more - Are you Aware of These Discounts Offered in Bike Insurance?

Go for a Long-term Bike Insurance Policy

The policy tenure influences the amount of insurance premium. When you buy two-wheeler insurance, you should focus on getting it for the long term to get a higher discount. 

Read more - Why Should You Opt for Long-term Third-party Bike Insurance?

Try to Use NCB 

When you drive safely and install safety devices on your bike, you eliminate the chances of raising any claim. If a person does not raise any claim during the policy year, the no claim bonus (NCB) gets credited and rises with further claim-free years. An NCB in bike insurance is a discount on the insurance premium for policyholders after a claim-free year. 

Read more -How to Calculate NCB for Two Wheeler Insurance?


When you follow all the above ways, it will help you to get a higher discount on your insurance premium. If you are looking for the best motor insurance policies with deep discounts, go no further than Paytm Insurance. The online insurance platform brings you various add-on covers, discounts and deals to make your bike insurance journey seamless.


1. Which is the best way to get a discount on bike insurance?

While planning to buy a bike insurance policy, you should keep the following points in mind to get a discount on your plans:

  • Always drive cautiously to reduce the chances of accidents.
  • Make use of NCB claims.
  • Purchase a long-term bike insurance policy.
  • Renew and purchase two-wheeler insurance before the deadline.
  • Opt for security devices.

2. Can we increase the IDV of two-wheeler insurance?

If a person mutually agrees with the insurer for a higher IDV, s/he would get the desired amount as compensation in case of loss or theft. However, one should not increase the IDV of a bike unreasonably, as they would be paying an extra premium for no additional value. 

3. Will the no-claim bonus discount become null after a single claim?

Yes, the no-claim bonus discount reduces to zero the moment you claim. So, in case of minor repairs, look to avoid claiming and earning premium discounts via NCB.

4. Which is the best bike insurance type?

A comprehensive bike insurance policy is considered the best bike insurance policy because it allows both third-party liability and own damage protection.  

5. What is zero dep in bike insurance?

Zero-depreciation bike insurance is one of the most beneficial additional facilities the insurance company offers with comprehensive bike insurance. In zero dep bike insurance, a policyholder does not pay the amount of the replacement and repair of depreciable parts of the bike. This add-on cover is available for an additional premium. So, you can compare the zero depreciation add-on covers of various bike insurance plans and choose the one that comes at the least cost.

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