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Theft Cover in Bike Insurance Explained

19 July 2022, 2:28 PM

The fact that you are protected if your bike is stolen is one of the most significant benefits provided by bike insurance. Theft and burglaries are somewhat regular, even in secured houses, and bikes tend to go missing pretty often. Compared to stolen cars, stolen bikes have a substantially lower recovery rate. 

When you do not have adequate bike insurance, losing your bike may eventually cost you a lot. So, having bike insurance policy that covers bike theft immunes you financially.

So, Which Two-wheeler Insurance Policies Cover Bike Theft?

Comprehensive and standalone own damage policies cover bike theft. In case of theft, you can get the declared insured value (IDV) in bike insurance. However, the IDV amount would come after deducting depreciation and several other charges that you may have paid to own a two-wheeler. That makes buying the return to invoice in bike insurance cover add-on vital for you. So, in case of bike theft, you can recover the invoice price paid to buy a bike. 

But, Which Should I Choose Between Comprehensive and Standalone Own Damage Bike Insurance Policy for Theft Cover?

For holistic coverage, one should buy comprehensive bike insurance because it protects against third-party claims too, which is not possible with a standalone own damage bike insurance policy. Further, the legal requirement of having a third-party bike insurance cover makes it imperative for vehicle owners to buy comprehensive insurance.

Steps to Follow in the Event of a Two-wheeler Theft

If your vehicle is stolen, you must file a claim with your insurance company as quickly as possible. It shouldn't be too difficult for you if you've already gone through the claim procedure when you got the insurance.

Given below is a concise outline of the bike insurance claim procedure you will need to follow:

1. File an FIR

Before filing a claim, you must file a First Information Report (FIR) at the appropriate police station, regardless of whether it was an accident or a theft. You must send a copy of this FIR and the request form to demonstrate the claim's authenticity.

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

2. Contact Your Insurance Provider

Intimate the insurer as soon as the bike is stolen and back your claim with the FIR. In addition, provide relevant information such as your policy number, vehicle registration information, etc, and a description of the theft.

3. Present the Necessary Documents

  • When filing a claim, you must submit a legally signed and documented declaration form, an authentic copy of the FIR, a copy of the RC, a duplicate of the policy document, a copy of the driving license, RTO transfer paperwork, and the original keys.

4. Obtain a Police Certificate of No Traceability

The last thing you must look for is a police certificate indicating that the two-wheeler cannot be tracked. This certificate is created one month after the event and is essential for handling your claim.

After the claim procedure has been completed, it is up to your insurer to decide whether or not to hire a private investigator to analyze the theft. Your claim may take a certain amount of time to complete and pay you (60 – 90 days in most situations). 

With 24x7 claim settlement support online, Paytm is one of the best bike insurance company for claiming settlement. To find out more about our two-wheeler insurance policies, download the Paytm app now.

Don't Forget to Renew Two Wheeler to Continue Getting Covered Against Theft

An expired bike insurance policy is useless. Therefore, the renewal of two-wheeler insurance is best done online. Bike insurance may be purchased online, a simple method to renew your coverage and ensure that you are protected against theft. However, your vehicle is a valuable possession, and you should secure it with a comprehensive vehicle insurance policy.


You can buy theft cover under two-wheeler insurance online. There you can easily compare various two-wheeler insurance with theft coverage before purchasing. Although most individuals purchase the first two-wheeler insurance coverage they see, it is crucial to explore around before settling on a policy that you are sure will meet your requirements. 

Apart from the preliminary research about theft cover in bike insurance, one should study the policy thoroughly after purchasing it to ensure they understand the terms and conditions and the claim processing.



1. Is bike theft covered under two-wheeler insurance policies?

Any of the comprehensive or standalone own damage policies cover bike theft. However, if your bike is stolen and you don't have adequate two-wheeler insurance, you could lose a lot of money.

2. What is covered under comprehensive bike insurance besides theft?

Comprehensive insurance protects against damage due to accidents, fires, earthquakes, cyclones, floods, riots, strikes, and several other calamities. Additionally, 

3. Does a long-term bike insurance policy cover theft?

Yes, all comprehensive and standalone bike insurance policies, be it the long-term or short-term ones, cover vehicle theft.

4. Can I buy bike insurance cover for theft online?

Yes, you can buy either a standalone or comprehensive insurance that covers bike theft, online. You can visit the official website of the insurer or its app to do so.

5. Is theft covered by third-party insurance for a two-wheeler?

Third-party two-wheeler insurance is a legal requirement in India under the Motor Vehicles Act, 1988. It covers only damages caused to third parties. So, this insurance policy does not cover theft and other damages/losses.

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