Bike Insurance Online at Rs 1.5 per day - Buy/Renew Two Wheeler Policy (2024)

Bike Insurance

Bike Insurance or two-wheeler insurance is a financial safety net for your motorcycle or scooter. It covers you in case of accidents, theft, fires, and other unforeseen events.

Here are main features of bike insurance /motorcycle insurance-

• Own Damage Coverage For Your Bike

• Personal Accident Coverage For You

• Third Party Liability Coverage

• Cashless Claim Settlement

• 1 Legal Requirement :Indian law requires all bikes to have insurance to cover others in case of an accident. Skip the risk and get insured to avoid fines and hassles!
• 2 Financial Security :A bike insurance plan helps in covering the repair costs arising either due to natural or manmade calamities, saving you from the sudden financial shock.
• 3 Covers Third-Party Liabilities :Bike insurance plan will cover your legal liability for third party losses.
• 4 Peace of mind : With a bike insurance plan, you can financially secure yourself from any unexpected damages and losses and free yourself from the financial stress.

Few reasons to consider IFFCO Tokio Bike Insurance :

• Simple process

• Instant quote

• Personalized plan as you require

• Instant policy issuance

• Superfast claim settlement

• Easy renewals

• 24/7 online assistance

• Fast & Secure payments

Inclusions: Coverage Offered By Our Bike Insurance Policy

The extent of coverage for your bike will depend upon the type of bike insurance plan you choose. Our Comprehensive Bike Insurance plan provides protection against -

Add-ons: Enhance Your Bike Insurance Coverage

Choose from a range of add-ons to boost your bike’s safety

• Zero Depreciation Cover- With this add-on cover, you get the claim amount for any damage or loss to your bike, without considering the depreciated value of your bike.

• Towing charges- You can get the reimbursem*nt for cost of towing or arrangement of towing services with this add-on.

• Loss of key- If any damage happens to the bike’s locking system due to attempted theft or if you lose the bike’s key, you can get this loss covered by opting for this add-on.

• Consumable Cover- With this cover, you can get your engine oil, grease, nut and bolts expenses covered which are otherwise not covered in your basic plan.

• Electrical & Non-electrical item cover- You can get advanced protection for your bike by covering both electric and non-electric items of your bike.

Exclusions: What’s Not Covered By Our Bike Insurance Policy

Although we aim to provide you with maximum protection and cover your bike against damages, but there are certain conditions under which your two-wheeler will not be covered-

• Substance use- If you get into an accident because you were under the influence of alcohol or drugs, then such an incident will not be covered.

• Rider's negligence- If any injury or damage is caused due to neglect on your part, then we will not cover the losses incurred.

• Wear and tear- Normal wear and tear of your bike is not covered under the insurance plan.

• Mechanical or electrical breakdown- Any damage or loss caused to your bike due to an electric breakdown or mechanical failure will not will not be covered under the policy.

• War and similar conditions- If your two wheeler gets damaged due to war, nuclear weapons, or civil war like situations, your bike will not be covered under all such situations.

How to File a Claim for your IFFCO Tokio Bike Insurance Policy

You have multiple options to register a claim for yourBike Insurance :

• QCS - (Mobile App)

• Call Centre

• Website

• Walk-in

• SMS

• Email

Let’s check these steps in detail –

• QCS App- QCS, or Quick Claim Settlement, applies to minor claims of under Rs. 50,000. Simply upload the necessary documents on the app, and upon approval, your claim will be settled promptly.

• Call Centre- You can register a claim for compensation online or by reaching us on 1800-103-5499 or 0124- 4285499. Our customer care executives will guide you with the further procedure.

• Website- To make a claim online, visit our website, then log in with your registered Email ID and Password. When you log in, just click on find the ‘make a claim’ option and follow the steps mentioned.

• Walk-In – You can visit your policy issuing branch Mon–Fri from 9:30 AM to 6:00 PM (excluding national holidays) if you wish to discuss your claim in person. To learn more about our branch locations, please use our Branch Locator.

• SMS – To simplify your claim journey, you have to just SMS “CLAIM” to 56161 and one of our Claims representatives will get in touch with you in 4 Working Hours.

  Note: Please have all the details pertaining to Loss description, Cause, Workshop/Hospital details, etc. ready at the time of the call.

• Email - You can email us at "support@iffcotokio.co.in" with your policy and mobile number, and our support staff will get in touch with you to initiate the claim process.

How To Raise A Cashless Claim For Your Bike Insurance

Get cashless claim settlement at one of our network garages. The cashless claim process involves three simple steps :

• Intimate - Intimate your claim by any of the method suggested above.

• Survey - Upload documents & photographs of the damage caused to your bike.

• Claim Settlement - Claim settlement directly with you or network garage.

You will mostly need-

• Bike Insurance Policy

• Bike Registration certificate (RC)

• Driving License (DL)

• Valid ID of policy holder

• Any other documents that we may require for your claim adjudication

A two wheeler insurance also known as bike insurance, protects the bike owners against various unanticipated risks. Whether you ride a motorcycle, moped, scooter or any other two wheeler, a bike insurance policy acts as a safety net, protecting you against damages that may be caused due to accidents, theft, fire, natural and man-made disasters. In addition, it fulfils the legal requirements along with providing financial protection for your two wheeler in the event you cause an accident, covering any resulting injuries or property damage to the third party.

Difference between Comprehensive Bike Insurance & Third Party Bike Insurance

	80% CUSTOMERS CHOOSE THIS
Coverage under Bike Insurance	Comprehensive Bike insurance	Third Party Bike insurance
Accident Cover
Theft Cover
Natural Calamities Cover
No Claim Bonus upto 50%
Choice of add-ons
Customization of bike value
Cashless Claims
Quick Claim Settlement
Personal accident cover
Damage to third party property
Injury to a third party person
No hefty fines levied if valid policy in place

• 1 Your Bike:
  

  Engine Capacity:Generally, premiums increase with higher engine capacity. Consider the CC (cubic capacity) of your bike.

  Age of Vehicle:Newer bikes typically have higher premiums compared to older ones.

  IDV (Insured Declared Value):This is the market value of your bike. A higher IDV leads to a higher premium, but ensures you get the full value in case of a total loss.

• 2 Your Coverage Needs:
  

  Third-Party vs. Comprehensive:Third-party insurance is mandatory by law, but only covers damage to others. Comprehensive insurance covers both third-party liability and damage to your own bike. Consider your risk tolerance and budget when choosing coverage.

  Add-on Covers:Consider optional add-on covers like rider accident cover, personal belongings cover, engine protection cover etc. These can enhance your overall coverage but will increase the premium.

• 3 Your Riding Habits:
  

  Frequency of Use:If you ride your bike infrequently, you might consider a policy with limited usage benefits.

  Location:Premiums can vary depending on the area you live in. Urban areas with higher traffic density typically have higher premiums.

• 4 Insurance Company and Policy Features:
  

  Claim Settlement Ratio (CSR):A higher CSR indicates the insurer settles a higher percentage of claims.

  Network Garages:Choose an insurer with a wide network of cashless garages for repairs to avoid upfront payments.

  Customer Service:Research the insurer's reputation for customer service and claim settlement process.

  Online Services:Look for an insurer that offers online services like policy renewal, claim filing, and status tracking.

If you love the freedom of open road, then you will love the freedom of choices we provide. We offer easy-to-understand and affordable third party bike insurance plans, comprehensive & depreciation waiver in your bike insurance plans. You can also opt for long-term third-party bike insurance cover or a single-year own damage insurance. Alternatively, you could bundle the two together and enjoy better savings.

As far as protection is concerned, our bike insurance policies provide coverage against accidents, theft, natural calamities like cyclones, floods, storms, lightning, earthquake, landslide, etc. When you ride with us, you get complete protection, on and off the road.

• 1 Nationwide Coverage & Support : Enjoy the confidence of knowing IFFCO Tokio has your back across India, with a wide network of cashless garages for repairs.
• 2 Complete Protection: Choose from Third-Party Liability (mandatory) or Comprehensive coverage that safeguards both you and others on the road, along with optional add-on covers for extra peace of mind.
• 3 Quick & Hassle-Free Claims: Experience a smooth claim settlement process with a high Claim Settlement Ratio (CSR).
• 4 24/7 Customer Service: Get year-round support whenever you need it, with online services for policy management and claim tracking.
• 5 Transparent & Customer-Centric: Clear communication and a commitment to putting your needs first.
• 6 Competitive Rates & Easy Renewal: Get a quote and renew your policy online in a snap, with competitive prices that fit your budget.
• 7 Strong Reputation: Backed by over 23 years of experience in the insurance industry.
• 8 Focus on Technology: User-friendly online platform for a seamless experience.

Ride with confidence, choose IFFCO Tokio Bike Insurance!

• 1 Bike Features :
  

  Make/Model- If you own a simple bike for everyday use, your insurance costs less. But if you have a fancy, expensive bike, the insurance costs more.

  IDV of Bike- The insured declared value (IDV) reflects the market value of your bike. In case of a total loss, the insurance company has to provide the approx. market value of your bike i.e. IDV, which is bound to be on the higher side for an expensive motorcycle.

  Engine capacity- Any two wheeler with a higher cubic capacity tends to have a higher premium as the third party liability premium considers the cubic capacity for your bike to ascertain the premium bracket.

  Anti-theft systems- If you have proper safety devices like alarms in place which helps to lower the risk of theft, you are likely to save on the premium cost.

  Age of Bike- As the time passes, your bike’s value starts declining due to depreciation. Therefore, as your bike gets older, the premium amount also reduces over the time.

• 2 Policy type :
  

  Type of coverage- Third party bike insurance plans cost less as they offer limited coverage whereas a comprehensive bike insurance plan might cost more but it offers better financial protection.

  Add-ons- If you choose to include any add-ons to your two wheeler insurance plan, the cost of premium will increase accordingly.

  Claim history- You might get eligible for No Claim Bonus (NCB) for your no-claim years and enjoy the discount on the premium of your bike insurance plan.

To buy or renew bike insurance, you've got two choices.

• Traditional Method

• Online Method
  

Traditional Method : Visit a nearby IFFCO-Tokio branch or talk to an agent who specializes in bike coverage. They'll sort out a policy that matches what you need and fits your budget. Just give them the info they need, and they'll handle the paperwork.

Online Method : With IFFCO-Tokio’s bike insurance, buying or renewing Two Wheeler Insurance online is as easy as twisting the throttle on your motorcycle! You can get instant quotes in a snap! All you have to do is tell us about your bike, the coverage you want, and hit the submit button. We will assess your details and put together the ideal options for you! In addition to the best insurance coverage, your Two Wheeler Insurance policy also comes with a customer support team that is available round the clock and is as eager to help you, as you are to ride your bike!

• 1 Save Money : Buying bike insurance online from IFFCO Tokio website generally saves money for customers as it doesn’t involve commission to third party dealers.
• 2 Easy Process : When it comes to purchasing your two-wheeler insurance online, it is one of the most convenient processes. You just have to fill in your bike details, select the coverage plan, and make the payment.
• 3 Save Time : The process of buying bike insurance online is fast & eco-friendly. When you buy Two Wheeler Insurance online, you do not have to endure the painful task of documentation or indulge in paperwork.
• 4 Multiple Plans : You get to choose from a range of bike insurance plans offered by IFFCO Tokio - third party, comprehensive, and comprehensive plan with depreciation waiver. Compare and select the plan which best suits your two-wheeler insurance needs.
• 5 Plan Customization : When you buy bike insurance policy online, you can go through our coverage options and opt for the plan that best matches your need, without being influenced by anyone else. You also get to choose any add-ons which can be added to your basic two-wheeler insurance plan for enhanced protection.
• 6 Instant Policy : This is another big advantage of buying bike insurance policy online – you get the policy documents as soon as the payment goes through. This ensures that you do not have to wait before you can legally ride your bike on the road!

• 1 Fill out Bike Details -Enter basic information about your bike registration number and confirm details like make model, claim history etc. Based on these details, we will provide you an instant quote.
• 2 Select and Customize-You can select the bike insurance plan type like third party or comprehensive and can include the add-ons coverage as per the requirements.
• 3 Download Policy Document -After plan selection, please make the payment and your policy would be generated immediately. You can find your two wheeler insurance policy copy in your mail box.

Renew your bike insurance at an IFFCO Tokio branch in just 3 steps:

• Bring your old policy document and payment

• Hand them to an agent

• Relax, they'll handle the rest!

The renewed policy will arrive by mail shortly.

Want to skip the trip? Renew your policy online in minutes!

• Fill the vehicle and policy number

• Our system will fetch the details of your policy

• Verify the details and make payment.

Your renewed policy will be emailed to you instantly.

• 1 Saves Time : You can renew your bike insurance plan quickly and get to experience a more streamlined process.
• 2 Saves Money : Online renewals bring along the benefit of discounted pricing which helps you save on the cost of premium.
• 3 Quick & Easy Process : A user-friendly online platform guides you through the renewal steps with minimal information required.
• 4 Secure Transactions : Our secure online portal ensures your information and payment details are protected.
• 5 Eco-Friendly : Reduce your carbon footprint by renewing online and avoiding unnecessary trips.
• 6 Instant Policy Generation : You don’t have to wait for the policy copy as it is emailed to you immediately once your payment gets through.
• 7 Available 24*7 : You can enjoy the convenience of renewing your policy online anytime, without worrying about our business hours.
• 8 Immediate confirmation & coverage : Receive instant confirmation of your renewed bike insurance policy and continue to enjoy the benefits of your policy instantly.

• 1Visit our bike insurance renewal webpage.
• 2Enter basic details like registration number and expiring policy number of your bike.
• 3We’ll fetch premium details and policy coverage for your two wheeler insurance.
• 4Make the payment online and download policy copy.

• 1 Third-party Liability Premium : This mandatory component of bike insurance fulfills legal requirements. It covers financial compensation for injuries or property damage to a third party (either individual or their belongings) caused by your insured two-wheeler in an accident.
• 2 Own Damage Premium : This optional portion of bike insurance provides financial protection for your own motorcycle, scooter, or other two-wheeler. It covers repairs or replacement costs arising from accidents, theft, fire, natural disasters, or other perils outlined in the policy wording.

The Third party bike insurance premiums (TP) are fixed by IRDAI depending on bike engine capacity, while the Own Damage Premium (OD) depends on several other factors.

• 1 Enter Registration Number : Input your bike's registration number into the calculator.
• 2 Retrieve Details : The calculator fetches the necessary bike details—make, model, manufacturing year—from the registration number.
• 3 Generate Premium : The calculator estimates the Own Damage premium automatically as per the bike’s specifics.

Calculating the premium for your brand new bike is easy with the bike insurance premium calculator. This online tool enables you to check the premium of your two-wheeler insurance policy by entering some basic information. To calculate the premium, you need to provide the following details:

• Bike manufacturer’s name

• Model & Variant

• Manufacturing year

• Fuel type

• Invoice Value

• 1 Bike type : Consider selecting a fuel-efficient bike with a smaller engine capacity as these bikes are typically viewed as less risky and are ideal for daily commute, resulting in lower premiums.
• 2 No Claim Bonus (NCB) : Avoid filing claims for small repairs and try to maintain a clean record to avail the benefits of NCB for no claim years, eventually reducing the price of your premium.
• 3 Increase your deductible : Opt for a higher voluntary deductible amount to lower the premium but you'll pay more out of pocket in case of a claim.
• 4 Timely renewal : Make sure to renew your bike insurance policy on time to enjoy continued protection and to maintain your NCB benefits.
• 5 Right coverage : Select the bike insurance plan which fits best with your requirements. Don’t opt for covers which will not benefit you in any way. Choosing your coverage plan wisely can help you save on the insurance premium.

How NCB works in your favour?

No Claim Bonus, commonly known as NCB is the discount benefit you get for making no claim during the policy period. These are the perks you get for being a responsible rider. For every claim free year, you get a certain discount in your bike’s insurance premium.

You can avail up to 50% discount on your two-wheeler insurance, however NCB is not applicable on third party bike insurance.

Relevance of IDV for your bike

Insured Declared Value or IDV is the market value of your bike. If your bike gets stolen or gets damaged beyond repair, IDV is the maximum money the insurer will pay you. In short, IDV is the current market value of your vehicle which is determined after adjusting the depreciation for every year. So, choosing the right IDV ensures you get a fair amount in case you file for a claim for your bike.

The rate of depreciation has been standardized & stipulated by The Motor Tariff Act – it is as follows:

• 1 IDV (Insured Declared Value) : The maximum sum insured which you decide, representing the market value of your bike at the time of purchasing your bike insurance.
• 2 Third-Party Liability : It is the mandatory coverage that gives financial protection in case any loss or damage is caused by the insured bike to the third party individual or their property.
• 3 Own Damage (OD) : It is an optional coverage that financially protects your own bike in case of accidents, theft, fire, natural disasters, or other perils outlined in the policy document.
• 4 Premium : The periodic amount you pay to the insurance company for your coverage under your bike insurance policy.
• 5 No Claim Bonus (NCB) : A discount on your premium offered for every claim-free year. Maintaining a clean claim history can significantly reduce your premium.
• 6 Deductible : The pre-determined amount you pay upfront in case of a claim before the insurance company covers the remaining expenses. Choosing a higher voluntary deductible can lower your premium but can result in paying more money out of your own pocket.
• 7 Add-on Covers : These are the optional riders that provide additional coverage, over and above your basic policy, like roadside assistance, personal accident cover, or engine protection.
• 8 Cashless Claim Settlement : A convenient process where the insurance company directly settles repair bills with network garages, eliminating upfront payments from your end.
• 9 Depreciation : The decrease in the market value of your bike over time is known as depreciation.

• 1What Is Bike Insurance?
  Bike insuranceis an agreement between the owner of a vehicle and the insurance company. Under this contract, the insurance company offers financial protection to the insured in exchange for yearly premiums. The bike insurance protects the vehicle owner against damages incurred in case of an accident or mishap. These damages may include personal, vehicular as well as third-party damages. Bike insurance also financially protects thevehicleowner against natural and man-made calamities.
• 2Is Bike Insurance Mandatory In India?
  Third-party bike insurance is mandatory in India as per the Motor Vehicles Act, 1988. This law ensures that you have financial coverage to pay for any injuries or property damage caused to a third party by your insured two wheeler.
• 3 What Are The Different Types Of Bike Insurance Plans In India?
  Third-Party Liability: This policy only covers injuries or property damage caused to a third party Comprehensive Policy: This policy covers third-party liability as well as protects your own bike in case of accidents, theft, fire, natural disasters, or other perils mentioned in the policy.
• 4What Is No Claim Bonus (NCB) And How Does It Benefit Me?
  No Claim Bonus (NCB) is a discount on your premium offered for every claim-free year. Maintaining a clean claim history can significantly reduce the cost of premium.
• 5What If I Cause An Accident With Someone Who Doesn't Have Insurance?
  Your own third-party insurance which is mandatory by law will cover their injuries/damages, up to the policy limit. However, any damages caused to your own bike will not be covered if you don’t have a comprehensive bike insurance policy which provides protection for own damage.
• 6Is Buying Bike Insurance Online Safe?
  Yes, buying bike insurance online is absolutely safe. We have secure payment gateways which help you pay for your policy securely and keeps your information confidential.
• 7What Is Zero Depreciation?
  Zero Depreciation is an add-on cover to your basic bike insurance plan that offers complete coverage for your two wheeler’s damaged parts without considering the depreciation value. Over the time, the value of your two wheeler decreases. The bike’s parts also depreciate due to wear and tear. But with this depreciation waiver add-on, you can get the full compensation for the part replacement.
• 8How Is Bike Insurance Premium Calculated?
  Bike insurance premium is calculated based on factors like the two wheeler's make and model, age, location, usage, your age, driving history, and the coverage options you select.
• 9Does Bike Insurance Cover Damage Caused By Natural Calamities?
  Yes, comprehensive bike insurance covers the damages caused by natural calamities like floods, earthquakes, storms, etc.
• 10What Is Voluntary Deductible In Bike Insurance?
  Voluntary deductible is the amount that you agree to pay out of your own pocket at the time of claim settlement. Opting for a higher voluntary deductible can lower your premium.
• 11Is There A Time Window For Filing Two Wheeler Insurance Claim?
  It is advisable to file a claim immediately after the occurrence of the accident. However, IFFCO Tokio provides a time window of 24 hours for the insured toregister a claim.
• 12What Does Third Party Insurance Cover?
  Third party motor insurance covers your legal and financial liabilities towards the third party in an accident caused by you. The maximum coverage goes up to Rs 7.5 lakhs for property damages. There is unlimited liability coverage for loss of life or severe injury sustained by the third party (amount is decided in court).
• 13Will The Insured Policyholder’s Own Injuries Get Covered In Third Party Insurance?
  Third party insurance does not cover the insured policyholder’s own injuries. However, it is mandatory for all motorists to have a valid personal accident cover of at least Rs 15 lakhs before riding their bikes or driving their vehicles on Indian roads. The personal accident insurance cover will compensate the policyholder for any injuries they may sustain in an accident. It also pays out a death benefit to their nominee.
• 14Can third party insurance be bought online?
  Yes, third party insurance can be bought online. All leading insurers in the country offer you the option of buying coverage on their websites.
• 15Do Commercial Vehicles Also Require Third Party Insurance?
  Yes, commercial vehicles also need to have basic third party insurance in order to ply legally on the roads in India.
• 16What Is Meant By First-Party, Second-Party, And Third Party In Motor Insurance?
  First-party refers to the insured individual, second-party is the insurance provider, and third party is the person towards whom damages are owed by the first-party in an accident.
• 17Can Add-Ons Be Included In Third Party Insurance?
  No, add-ons can only be included in a comprehensive bike insurance policy.
• 18What Documents Are Needed For Filing A Claim For A Third Party Insurance Policy?
  When filing a claim on your third party insurance, you need to present your insurance policy copy, filled up claim form, RC copy of vehicle, driving licence copy, and FIR.
• 19What Happens When I Wish To Renew My Expired Policy?
  You can renew your expired policy, but it leads to loss of certain benefits. Here’s what will happen if you wish to renew your expired policy:

  1. If you renew it online, then a bike check-up is not mandatory.

  2. If you renew it offline, then you will have to take your bike to the nearest office of the lender, and get it inspected. The policy period will start after 3-4 days of making the payment.

  3. If your policy has been expired for over 90 days, then you will be losing all the NCB benefits.

• 20What Are Some Of The Additional Covers That I Can Avail Along With IFFCO Tokio’s Two Wheeler Insurance?
  IFFCO Tokio offers a vast range of additional covers to all their customers that buy two-wheeler insurance policies. These covers include personal accident cover, zero depreciation cover, roadside assistance, consumables cover, engine protection cover, return to invoice, and much more.
• 21Which Documents Should I Carry While Riding My Bike?
  In India, a bike rider must carry a few documents all the time under the Motor Vehicle Act, 1988. Here is a list of the basic documents that are mandatory, in India, for a driver to carry while riding a bike:

  1. A valid driving license

  2. Vehicle registration certificate

  3. Insurance papers of the bike

• 22Which Documents Are Required When Registering A Two Wheeler Insurance Claim?
  While registering a claim, you will have to provide your insurance provider with your policy number, your personal details, the address of the place where the vehicle was damaged, and a brief description of the physical injuries or property damages caused during theaccident.
• 23How Do I File For A Bike Insurance Claim?
  In case yourmotorcyclemeets with an accident or is damaged due to any other unfortunate event covered by your policy, the first thing you need to do is to immediately inform your insurance provider. Then you will have to file an FIR at the nearest police station. After this, you will have to fill a claim form and provide the required documents. Your insurance company will then send a surveyor to analyse all the damages. Once that is done, you will get a confirmation and yourinsurance companywill compensate for all the damages caused.
• 24What Are The Benefits Of Having Bike Insurance?
  Yourbike insurancepolicy benefits you in the following ways:

  1. It protects you against third-party damages

  2. Allows you to legally ride your bike on Indian roads

  3. Provides coverage against natural calamities like floods, earthquakes, storms, etc.

  4. Protects the policyholder against man-made calamities like fire, theft, riots, etc.

  5. Provides compensation up to 15 lakhs in case an accident leads to disability/ death.

• 25How To Renew An Expired Bike Insurance Policy?
  You canrenew your expired bike insurance policyby logging into the IFFCO Tokio website. We have a straightforward procedure that requires a few personal details and your policy number. After entering all the required information, you will have to make a payment and your bike insurance will be renewed in no time.
• 26Can I Transfer Accumulated NCB From Previous Insurer To IFFCO Tokio?
  Yes, your NCB is transferrable and will be applicable when yourswitch insurance provider. However, you are required to provide the renewal notice, the declaration of NCB, and other relevant documents in order to transfer the NCB to a new plan.
• 27How NCB Will Be Computed At The Time Of Renewal?
  As you may know,NCBis a discount provided to the policyholder for maintaining a claim-free record against their bike insurance policy. This discount starts at 20% for the first claim-free year and keeps on increasing for every subsequent claim-free year until it reaches its maximum cap of 50%.
• 28How Do I Make Changes In My Two-Wheeler Insurance Policy Details After Receiving The Policy Documents?
  The best way to do so is to contact yourinsurance providerand request the required changes in your two-wheeler insurance policy details.
• 29How Can I Reduce My Insurance Premium?
  If you wish to reduce your insurance premium before purchasing a policy, the process is quite easy. You will just have to go through all the insurance policies that are available in the market. If you wish to renew your insurance policy with a reduced insurance premium, then you will have to contact your lender.
• 30What Is An IDV?
  IDV is the current market value of your vehicle. In case of theft or total loss of your vehicle, the insurance company pays out the IDV to the policyholder as compensation. IDV is the ex-showroom price of the vehicle adjusted by the applicable rate ofdepreciation.
• 31What Is A Comprehensive Insurance Policy?
  Comprehensive insurance policy is a type of insurance policy that provides coverage for damage caused to your two-wheeler due to an accident. It is a policy that covers several expenses that may occur due to a mishap. Here’s everything that gets covered under a comprehensive insurance policy:

  1. Damage to one’s own vehicle due to an accident

  2. Third-party liabilities

  3. Damage caused to one’s vehicle due to manmade causes like theft, dents, and so on

  4. Damage caused by natural disasters like floods and earthquakes

• 32What Is Long Term Two-Wheeler Comprehensive Insurance?
  Along term two-wheeler comprehensive insuranceis a policy that offers coverage benefits to the policyholder for more than one year. This way, you do not have to worry about renewing your insurance policy every year. These plans also protect you from yearly price hikes that IRDAI levies on third party insurance premiums.
• 33How Do I Register A Claim Under My Bike Insurance Policy?
  We understand that you may require immediate assistance during an uncertain event. This is why we, atIFFCO Tokio, provide our customers with easy methods to register their claims. You can call our helpline number or log onto our website to make a claim. You can even walk into anIFFCO Tokio branchthat is nearest to you and get your claims settled in no time Looking for a faster claim settlement process? Just down the Quick Claim Settlement (QCS) app! This will help you get compensation in minutes – all you have to do is click a few photos of the damaged parts and upload it onto theQCS app. We will analyse the damages and will transfer the repair funds directly to your bank account.
• 34What Is A Personal Accident Insurance Cover?
  It is a type of bike insurance policy that covers expenses that are caused by an unfortunate accident. This policy also covers the policyholder’s death. In such cases, a certain amount will be paid to the nominee. It also covers for loss of wages and other medical bills. However, it does not cover third-party liabilities. In comparison to the Comprehensive insurance policy, this policy is not that beneficial.
• 35What To Do If My Two-Wheeler Is Stolen?
  One should first file an FIR and then contact the insurance company if their two-wheeler gets stolen. Insurance companies will demand a police report or an FIR copy to start processing. There are a few documents that will be needed to submit to the lender in such cases. Generally, these documents include the basic details of the policyholder, the insurance certificate, Police reports, and so on. One can make a claim online using the official website of IFFCO-Tokio. The claiming process is very simple and will be done without any hassles.
• 36Will I Get Discount On Bike Insurance Premium If I have Anti-Theft System Installed?
  Yes, we atIFFCO-Tokio offer a discounton the premium amount if your vehicle has certain safety features such as anti-theft, GPS, and so on. However, this discount is only applicable if the safety features are endorsed by ARAI (Automotive Research Association of India). You can give us a call or visit one of our branches if you wish to list such safety features and receive a discount on the premium of your bike insurance policy.
• 37What Are The Benefits Of Buying Two-Wheeler Insurance Online?
  Buying a two-wheeler insurance policy online is much easier than visiting an office. Here are the benefits of buying a policy online for your bike:
  1. The process of buying a policy online is very easy. It can be done just with a few clicks.
  2. When you buy a policy online, there is no need to maintain a paper trail, as all the documents will be exchanged online.
  3. There are no time restrictions or time-windows while buying a policy for your bike online.
  4. Buying a policy online will also act as a COVID-19 preventive measure.
  5. It is much more convenient and economical to buy a policy online as you will avoid travelling expenses.
• 38Is It Compulsory To Have Third-Party Insurance?
  Yes, every vehicle owner in India must have a third-party insurance policy. Driving without legitimate bike insurance is a legal offense.
• 39Does The Two-Wheeler Model Affect The Cost Of Two-Wheeler Insurance?
  Yes, the model of your bike will be a deciding factor when it comes to your insurance coverage. It is one of the several factors that affect the cost of the bike insurance policy. Read on to know more about the other factors that also dictate that cost of the insurance policy:
  1. Type of coverage -Insurance policy terms depend on the type of policy and what it covers. Some policies provide total coverage, some policies do not.
  2. Bike model and bike price -Bike price can affect the terms of the policy, so will the bike model.
  3. Bike modifications if any -Bike modifications also dictate the terms of a bike insurance policy. It can be a factor too depending on the policyholder.
  4. Age of the rider -A 30 years old experienced driver will have to pay less premium than an 18-year-old amateur rider.
  5. Add-on covers -Add-ons will change the terms and conditions of an insurance policy. Add- ons are generally designed in a way that they will give you maximum coverage.
  6. Anti-theft devices -If you fit an anti-theft device in your bike, then you will have to pay less premium, as your bike will be safer.
• 40Why Do I Need Two Wheeler Insurance?
  It is mandatory by law in India to have at least third party insurance for your two-wheeler. Without third party insurance, you could face heavy fines & even jail time of up to 6 months. Besides the legal requirement, it is important to have a goodtwo-wheeler insurance policy– it will protect you from the financial impact of accidents and other unfortunate events that can damage or result in total loss of your vehicle.
• 41What If My Two-Wheeler Insurance Has Expired?
  If yourtwo-wheeler insuranceexpires, you will not be able to make claims if your vehicle meets with an accident. Moreover, you will be liable to pay all the expenses from your own pocket and can even face legal troubles. Therefore, it is extremely important that you renew your plan before the expiry date and keep your policy valid at all times.
• 42How Do I Claim For Bike Insurance Online?
  

  Making claims for bike insurance online is very easy. First, you need to report the incident to your insurance provider and then file a FIR at the nearest police station. Then the insured has to fill a claim form and submit the required documents. Theinsurance companywill then send a surveyor to inspect all the damages caused. Once your claim is approved, you will be compensated for the damages and your vehicle will be repaired.

  We at IFFCO-Tokio also have a Quick Claim Settlement (QCS) app that our customers can use to make a claim. All they have to do is click photos of the damages and upload the same on the app. We will assess the damages and provide the compensation amount directly to the policyholder. This process can be completed quickly & conveniently!

• 43When Shall I File The Two-Wheeler Insurance Claim?
  You must file for a two-wheeler insurance claim within a specific time as per the insurer.
• 44What Is The Renewal Process For Bike Insurance?
  There are 3 ways to renew your bike insurance policy. The first is to walk into your nearestIFFCO-Tokio branchand get the policy renewed with the help of our expert customer support staff. The second way to renew your bike insurance policy is through one of our authorized agents. And finally, if you do not have time to visit a branch or contact an agent, you can opt foronline two wheeler insurance renewals. This process is by far the quickest and easiest way to renew your bike insurance policy. Just visit our website, fill in your policy details, make the payment and that’s it! Your coverage will be renewed instantly and the policy documents will be sent to you via email in seconds
• 45What Is Third-Party Bike Insurance?
  Third-party bike insurance is the most basictype of vehicle insurancethat is mandatory for every vehicle owner to have. It is a policy that protects the vehicle owner against financial liabilities that arise in a case when the policyholder inadvertently injures or causes damages to a third-party in an accident.
• 46How Is The Two Wheeler Policy Premium Determined?
  Thepremium of a two-wheeler insurance policyis calculated after taking into consideration several factors, some of which include:

  1. The age of the vehicle

  2. The cubic capacity of the vehicle

  3. The IDV

  4. The city of registration

  To get a quick premium quotation for your two-wheeler, simply visit our bike insurance page. Just enter your name & mobile number followed by a few details about your bike and we will provide you with an instanttwo wheeler insurance quotation! You can even customize the quote by fine-tuning the specifications as per your requirement & including the add-ons you want. The premium amount will be revised based on the changes you make to the quotation.

• 47What Is A Third-Party Liability In Bike Insurance?
  In case of an accident, you may inadvertently injure or cause damages to others. In this case, you would be liable to compensate for the said injuries & damage – this is known as third party liability. Fortunately, with a third party policy, your insurance provider willcover thirdparty liabilitiesand provide compensation to the aggrieved individuals on your behalf.
• 48Which factors will affect/reduce my bike insurance premium quote while buying two-Wheeler Insurance Online?
  

  If you are looking forward to buying a bike insurance policy with a reduced premium amount then there are a few things you need to consider. Following are the factors that affect bike insurance premium quote:

  1. Model of the bike- Bike’s model and bike prices will affect the premium amount.

  2. Year of manufacturing -Bike’s manufacturing year will dictate the premium amount of the bike. A Honda Unicorn, made in 2015, will have a different premium amount that the one made in the year 2020.

  3. Engine Capacity -Engine capacity of the bike is another feature that affects bike insurance premium.

  4. Age of owner -Age of the owner is another crucial factor that affects the premium cost of the bike insurance policy. If a driver is 18 years old and less experienced than a 40-year-old experienced driver, then the 18-year-old driver will have to pay more premium.

  5. Geographic location -Geographic location also matters while buying a policy. If you reside in an area where chances of accidents are high, then you will have to pay more premium.

• 49What Risks Are Covered Under A Bike Insurance Policy?
  

  There are various types of bike insurance policies. There are also several add-ons to these policies that one can opt for to maximize the coverage. However, the most recommended insurance policy for bikes is the comprehensive bike insurance policy. Here’s everything that is covered by the most preferable bike insurance policy:

  1. Damage to one’s own car

  2. Third-party liabilities if any

  3. Damage to one’s car by manmade causes like theft, dents, and so on

  4. Damage to one’s car by natural causes like floods, earthquakes, and so on

• 50From Where Can I Purchase IFFCO Tokio’s Two Wheeler Insurance?
  

  Purchasing two-wheeler insurance from IFFCO Tokio is very simple. You can either choose to visit theIFFCO Tokio branchand speak with one of our insurance experts or carry out the procedure online. For the online purchase, you will have to visit the IFFCO Tokio website, fill in the required details, and make the payment. You will receive your insurance policy via email and the coverage will begin instantly!

• 51What Do You Mean By Constructive Total Loss?
  A constructive total loss, for a bike, means that the damage done to the vehicle is so much that the repair cost would equal or exceed the cost of the vehicle, or its insurance coverage limit. Thus, it is better to avoid paying for the existing vehicle and getting a new one. Constructive Total Loss can also be the kind of situation where the insured was paid the full coverage for his asset.

Downloads

Download Forms

• Motor Claim form
• Motor Proposal Form for Private Car or Two Wheeler
• Motor Cycle Policy Wording
• Helmet Cover- Prospectus TW
• Helmet Cover- Prospectus Motor Cycle Scooter B Policy
• Helmet Cover- Schedule Motor Add-ons for Motor Cycle Scooter B Policy
• Helmet Cover- Prospectus for Stand Alone Motor Own Damage for Two Wheeler
• Helmet Cover- Schedule Stand Alone Motor Own Damage for Two Wheeler
• Pay as you Use- Prospectus for bundled cover for Two wheelers
• Pay as you Use- Prospectus for Motor Cycle Scooter B Policy
• Pay as you Use- Schedule Motor Add ons for Motor Cycle Scooter B Policy
• Pay as you Use- Prospectus for Stand Alone Motor OD Two wheeler
• Pay as you Use- Schedule Stand Alone Motor Own Damage for Two Wheeler
• EMI Protection- Prospectus for Two Wheelers
• EMI Protection- Schedule for Motor Cycle Scooter B Policy
• EMI Protection- Prospectus for Stand Alone Motor Own Damage for Two Wheeler
• EMI Protection- Schedule for Stand-Alone Motor Own Damage for Two Wheeler

Know More About Bike Insurance

FAQs

Bike insurance is an agreement between the owner of a vehicle and the insurance company. Under this contract, the insurance company offers financial protection to the insured in exchange for yearly premiums. The bike insurance protects the vehicle owner against damages incurred in case of an accident or mishap. These damages may include personal, vehicular as well as third-party damages. Bike insurance also financially protects the vehicle owner against natural and man-made calamities.

It is mandatory by law in India to have at least third party insurance for your two-wheeler. Without third party insurance, you could face heavy fines & even jail time of up to 6 months. Besides the legal requirement, it is important to have a good two-wheeler insurance policy – it will protect you from the financial impact of accidents and other unfortunate events that can damage or result in total loss of your vehicle.