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How Two Wheeler Insurance Helps If Bike Gets Stolen?

By Vikas Chandra Das
29 August 2022, 11:24 AM
how two wheeler insurance helps if stolen

According to recent data, every 15 minutes a bike is stolen in India. Last year, large metros like Delhi and Mumbai reported about 2850 and 2460 cases of two-wheeler theft respectively. Looking at this data, it is possible that your favourite bike may be missing from the parking spot. Moreover, when compared with car theft, there was a shocking observation. Since it is easier to dismantle, the chances of recovering a two-wheeler are lesser than a car, in case of theft. 

But don’t worry, we have a plan to protect you and your two-wheeler from any unforeseen risks. Read on to know - 

Benefits of Two-wheeler Insurance Against Theft

Imagine you are on your way to visit your friend’s house to watch a game of cricket. As soon as you reach the building, you notice the parking spot is unavailable. You look around but cannot find a suitable spot. Just then, your phone vibrates with a message – WICKET! You get excited and ride to the adjoining street to find a vacant spot. Although the area is secluded, you park the bike and run to your friend’s home. You celebrate your team’s win with some delicious dinner, and then you leave feeling happy. As soon as you reach the spot, you find your bike is missing. You begin to wonder if it has been picked up by the RTO. You begin to ask the few people in the area (watchmen and passer-by) if they have seen anything. You call your friend and rush to the police station. Within minutes, you realize your bike has been stolen. 

Sounds upsetting, right? 

With a Comprehensive bike Insurance plan, you can stay stress-free even if your bike is stolen. 

A comprehensive two-wheeler insurance plan protects your bike against unforeseen events like theft and natural calamities. If your bike is stolen, your insurance provider will compensate you for the loss. The claim amount is usually equivalent to the Insured Declared Value (IDV) of your stolen bike.

You will just need to follow some easy steps to register your claim against bike theft - 

Steps To File Claim 

1. File a First Information Report (FIR) - 

As soon as you find that your bike has been stolen, lodge an FIR (First Information Report) at your nearest police station.

2. Inform your Insurance Provider - 

Once you have filed the FIR, call your insurance company on their dedicated customer service helpline. Explain your situation and follow the instructions provided to file for a claim against theft of your insured bike. 

PRO-TIP: Check all the information like your bike’s registration number, policy details, etc while filling the claims’ form.

3. Inform the RTO -

 As per the law, it is necessary to inform your RTO about your bike. You will need to complete some legal formalities before you can acquire RTO transfer papers along with other relevant documents.

4. Complete the Documentation Process (along with the keys)

After you are done with the above-mentioned formalities, you need to submit duly filled Form 26, 28, 29, 30 and Form 35 along with your bike keys. You may also need additional documents including - 

  • Insurance policy paperwork.
  • Self-attested photocopy of driving license
  • Self-attested photocopy of RC book
  • Copy of the original FIR
  • Letter to the RTO
  • RTO Transfer papers

5. Submit Untraceable Report

If your bike is untraceable for over 30 days, the police will provide an untraceable report. This document is an official proof that your bike was stolen and cannot be found. You can submit this to your insurance provider and the claim will be settled successfully.

Advice to the New Bike Owners: Opt for an Return to Invoice (RTI) Add-on Cover

If you are planning to buy a new bike or already a new one, then this is what you must know. And especially, you are buying it on a loan. If you have taken a loan for a new two wheeler or high-end bike from a bank, it is recommended to invest in the Invoice Protection Add-on cover at the time of purchasing. 

Invoice Protection Add-on Cover 

Invoice Protection Add-on cover offers an extra layer of protection, especially in the case of theft. If the claim is made due to Total theft or total constructive loss for your new bike, you would be compensated not only with IDV but with the on-road bike price, which includes, Ex-showroom of your bike + Registration charges + Road Tax  Having an Invoice Protection Cover, alongside Comprehensive Cover, guarantees the Ex-showroom cost + Registration charges + Extra Taxes, not simply IDV. 

This would save you a lot of money. You would be saved from a huge financial loss which comes with the bike theft.


Bike theft is not uncommon in India, even in metro cities. Therefore, it is important to realize the risk and invest in a Comprehensive Two-Wheeler insurance plan which includes the mandatory Third Party Insurance. If your bike is on loan, it would be advisable to also invest in an Invoice Protection Cover at the time of buying or renewal. This will help you stay financially protected even in case of bike theft.

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