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Tips to Save on Your Two-wheeler Insurance

By Juhi Walia
28 July 2022, 11:42 AM

Two-wheelers are the most common mode of transportation on Indian roads. When purchasing a two-wheeler, we usually consider various factors such as design, mileage, and price. However, we frequently overlook the insurance that must be purchased in addition to it. Even some who purchase two-wheeler insurance are not aware of the ways to reduce the premium payable periodically. They rely on the words of insurance agents who trick them into buying a bike insurance policy that raises the premium in exchange for insufficient coverage against unforeseen incidents.

Rely on the online advisories of trusted platforms, such as Paytm Insurance, to save. So, if a long-term bike insurance policy saves you those extra bucks, why go for a 1-year plan and go on to pay more overall? Similarly, there are several other measures by which you can save on your two-wheeler insurance policy. Let's get started to know the same.

Ways to Save Money on Two-wheeler Insurance

Purchase or Renew Bike Insurance Online

A third-party bike insurance policy is required under the law, but choosing comprehensive insurance will help you meet that legal requirement and receive financial immunity against damages to your vehicle. The best part is that you can do it easily and quickly from the comfort of your home. Furthermore, renewing bike insurance online is much easier than doing it offline. Because there are no brokers or insurance agents online, insurers can offer you a discounted insurance product. Buying and renewing bike insurance online is thus the best way to save money.

Insurance Policy Comparison

Begin by comparing the insurance policies available in the market for your two-wheeler. Various insurance companies provide numerous two-wheeler insurance quotes based on your needs. The best way to accomplish this is to compare bike insurance policies online. 

Examine the insurance coverage and additional benefits to ensure you find the best bike insurance. In addition, comparing insurance policies will reveal the policy that provides comprehensive bike insurance coverage at a lower insurance premium.

Drive Cautiously and Responsibly

Most bike insurance companies provide no-claim bonus (NCB) benefits to their policyholders for not filing a claim during the policy year, which qualifies you for a discount on your next year's premium. Driving safely increases your chances of not being involved in a collision and having a claim-free year that allows you to earn NCB under two-wheeler insurance.

Each claim-free year will increase the discount by 20-50% until you do not make a claim. Driving safely and responsibly can thus help you save money on your two-wheeler insurance.

Select the Best Add-on Covers

Bike insurance add-on coverage supplements the standard comprehensive insurance policy. However, you must pay an additional fee. By selecting unnecessary or redundant add-ons, you will increase the bike insurance rate rather than lower it.

Setup an Anti-theft Device

Many motorcycle owners take extra precautions and install anti-theft devices on their vehicles. Installing such devices not only protects bikes from theft or assists owners in locating them but also makes your insurer offer you a discount on your policy premium. Such devices mean a much-reduced possibility of bike theft, prompting insurers to reduce the premium.

However, the premium discount is only available when anti-theft devices approved by the Automotive Research Association of India are installed. So, research devices and purchase accordingly.

Read more - How does Theft Cover in Bike Insurance Policy Help You Financially?

Keep Your Insurance Policy Up to Date

Ensure you renew your bike insurance on time. If you can't do it on the expiry date, look to do it within the next 90 days, failing which the insurance policy will lapse. If the motor insurance does lapse, the NCB benefit will be forfeited, and you need to purchase a fresh policy and undergo a vehicle inspection. To avoid all these, look to renew your bike insurance on or before the due date.

Choose Long-term Bike Insurance

You can choose between short-term and long-term bike insurance policies when purchasing a two-wheeler insurance policy. You can select the duration of these plans based on your needs and budget, but it is always best to go with a long-term comprehensive bike insurance policy. It will protect you from yearly premium price increases or inflation and from forgetting to renew the policy on time, thereby preventing a potential policy lapse. Purchasing a long-term two-wheeler insurance policy saves you money overall. The premium amount may sound heavier, but the cumulative sum will be much less when paying the premium annually.

Read more - Top 5 Benefits of Purchasing a Long-Term Bike Insurance Policy

Premium Discounts via NCB

Whether renewing your insurance with the same insurer or a new insurer, make sure you use the NCB to reduce your premium. On renewing with the same insurer, make sure you do not file minor claims to avoid losing the NCB in bike insurance.

If you want to transfer the insurance, you must obtain the NCB certificate from your current insurer to be eligible for the NCB with the new insurer.

Driving History

While you receive the discount for driving safely and not filing bike insurance claims during the policy period, new-age digital insurance review your habits to determine your premium. So, you should have a clean driving record.

Request Discounts

There is no harm in requesting a discount when renewing or purchasing new two-wheeler insurance. Insurers may offer discounts to promote their insurance policies. These discounts would lower the cost of your bike insurance.


The insurance company will not cover the entire cost of repair while settling the two-wheeler insurance claim. You will need to pay a certain percentage, known as a deductible. The two-wheeler insurance premium is reduced by choosing a deductible. But avoid choosing a much higher deductible to reduce your premium. Because the claim amount will be far less, which could cause a financial burden on you should you claim later.


Before purchasing a two-wheeler insurance policy, you should have a firm grasp on some money-saving hacks. It will ensure informed decisions about your two-wheeler insurance.


1. Is it possible to purchase bike insurance online?

Online bike insurance is genuine. It is the most efficient and painless way to purchase a bike insurance policy. Compared to the conventional insurance process, you can buy/renew/raise claims online and save.

2. How do I claim NCB on my motorcycle insurance?

The NCB is redeemable when renewing the policy. It is a discount for failing to file a claim during the policy period. This can also be transferred to a new insurance company during renewal process.

3. What kind of insurance is best for a two-wheeler?

Because of its coverage, a comprehensive policy is regarded as the best two-wheeler insurance policy. It includes third-party liability insurance as well as own damage. You can also add appropriate add-ons to your policy to strengthen it. Compare the standard and add-on coverages online to pick the inclusive and cost-efficient option.

4. Can I purchase a bike without insurance?

Because of its coverage, a comprehensive policy is regarded as the best two-wheeler insurance policy. It includes third-party liability insurance as well as own damage. You can also add appropriate add-ons to your policy to strengthen it. Compare the standard and add-on coverages online to pick the inclusive and cost-efficient option.

5. Can I purchase a bike without insurance?

Yes, you can purchase a two-wheeler from a dealer without obtaining a two-wheeler insurance policy. To register the vehicle, you must purchase at least a third-party two-wheeler Insurance Policy.

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