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How to Save Money on Two Wheeler Insurance During Lockdown?

By Vikas Chandra Das
21 July 2022, 11:46 AM

The ongoing rise in the Covid-19 cases has once again forced various state governments to impose a varying degrees of lockdown in India. The government and medical authorities have clarified that social distancing and staying at home are two of the most successful ways to prevent the deadly coronavirus from spreading. Non-essential business sectors around the country are heeding this wise advice by encouraging workers to work from home or putting work on hold until further notice. This shows that people are travelling less often than normal. With that in mind, here are several ways you might save money on your two wheeler insurance during the Covid-19 pandemic.

Is Bike Insurance Required During Lockdown? 

Insurance is required for all two wheeler vehicles to run on Indian roads. Motor insurance is available for both personal and commercial vehicles. The most relevant document for all two wheeler owners is the insurance policy. Its key goal is to provide full insurance against physical harm or failure to the insured two wheeler because of natural or man-made disasters. Regardless of whether or not there is a lockdown, you must upgrade your two wheeler insurance. If you don't, then you will be liable to pay INR. 2,000/- as a fine or face 3 months imprisonment.

Tips to Save Money on Two Wheeler Insurance During Lockdown

Following are some of the tips of which you can make use to save your hard-earned money on two wheeler insurance premium during the lockdown - 

1. Compare Two Wheeler Insurance Plans Online: The best way of saving money is to compare the various insurance policies available in the market and then choosing the one that is suitable to your needs. You can compare the policies based on the premium amount, coverage provided, settlement ratio, inclusions and exclusions and various other factors and then make a decision.

2. Reduce Your Two Wheeler Insurance Coverage: For a two wheeler you do not drive, you can reduce your two wheeler insurance policy to the bare minimum. If you do that, the good news is that you will still be covered by the law's mandatory third-party coverage. Pay just for the features you want in a two wheeler insurance policy. This way, during this Lockdown period, you will still abide by the law and at the same time save money on insurance.

3. Check For Discounts: It is always wise to check for discounts at the time of buying or renewing a two wheeler insurance plan. All the members of the Automobile Association of India (AAI) are eligible for a discount on the premiums. Also, installation of ARAI-approved anti-theft devices allow you to claim a discount on the own damage premium of your two wheeler insurance plan. Besides, these ways, you can get insurance discounts by doing the following - 

  • Buying insurance online.
  • Go for a long-term two wheeler insurance policy.
  • Keep your No Claim Bonus (NCB) discount.

4. Renew Your Policy In Time: A two wheeler insurance policy is an annual arrangement that must be extended each year in order to provide financial protection in the event of an accident involving your vehicle. To ensure continued coverage while on the road, it is always a good idea to update your policy before it expires. If you fail to renew your policy on time, it will become invalid, and you will need to purchase a new policy from an insurer willing to cover your two wheeler. When you renew your premium later, the rate usually goes up. As a result, you can save money if you renew your insurance policy on time.

5. Install Safety Devices In Your Bike: Installing approved safety measures and informing the bike insurance company about them will get you a discount on a Comprehensive two wheeler  insurance policy when you purchase or renew it. If you've activated the system and want to take advantage of the offer, you need to be prompt and call or email the company to let them know. 

Mr. Dasgupta decided to purchase a two wheeler insurance policy for his new two wheeler. While talking to an agent from the insurance company of his choice, he asked if there was any way in which he could get a discount on the premium of his Comprehensive two wheeler insurance policy. The agent informed him that he could do this by buying an ARAI certified security device for his bike.

Mr. Dasgupta promptly made use of this opportunity by purchasing a GPS Tracker for his bike. Not only did this enhance the security measures for his bike, but also helped him get a discount from his insurance provider.

6. Avoid Making Claims For Small Repairs: A no-claim bonus (NCB) is a discount on the renewal premium offered by insurers at the end of a claim-free year. This NCB begins at 20% at the end of the first claim-free year and gradually rises to 50% for each subsequent claim-free year. The NCB resets to zero even if a single claim is made, and you have not acquired the NCB Protection Cover, which is another justification to avoid making small claims. By avoiding small claims, you get a bigger discount on your Premium when you renew your insurance policy.


Utilize your spare time and do your homework before settling on a specific insurance company and contract. You never know how much money you can save before you go browsing. Go online and compare quotes from different insurance firms. Different types of two wheeler insurance policies, as well as the extent of coverage they provide, may have different premiums. In general, hardly any two wheeler insurance policies are the most affordable. As features and coverage get added to the policy, the premium sum automatically goes up. Also, read the policy document carefully before making a decision, since it can contain information about any secret charges.

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