• 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.

• 

  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 reimbursement 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. 

• 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.

• 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.

• 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.

• 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.

• 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.

• 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.

• 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.
• 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. 
• 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.

• Saves Time : You can renew your bike insurance plan quickly and get to experience a more streamlined process.
• Saves Money : Online renewals bring along the benefit of discounted pricing which helps you save on the cost of premium.
• Quick & Easy Process : A user-friendly online platform guides you through the renewal steps with minimal information required.
• Secure Transactions : Our secure online portal ensures your information and payment details are protected.
• Eco-Friendly : Reduce your carbon footprint by renewing online and avoiding unnecessary trips.
• 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.
• Available 24*7 : You can enjoy the convenience of renewing your policy online anytime, without worrying about our business hours.
• Immediate confirmation & coverage : Receive instant confirmation of your renewed bike insurance policy and continue to enjoy the benefits of your policy instantly.

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

• 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.
• 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.

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

• 1What Is Bike Insurance?
  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.
• 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 to register 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 the accident.
• 23How Do I File For A Bike Insurance Claim?
  In case your motorcycle meets 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 your insurance company will compensate for all the damages caused.
• 24What Are The Benefits Of Having Bike Insurance?
  Your bike insurance policy 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 can renew your expired bike insurance policy by 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 your switch 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, NCB is 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 your insurance provider and 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 of depreciation.
• 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?
  A long term two-wheeler comprehensive insurance is 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, at IFFCO 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 an IFFCO Tokio branch that 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 the QCS 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 at IFFCO-Tokio offer a discount on 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 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.
• 41What If My Two-Wheeler Insurance Has Expired?
  If your two-wheeler insurance expires, 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. The insurance company will 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 nearest IFFCO-Tokio branch and 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 for online 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 basic type of vehicle insurance that 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?
  The premium of a two-wheeler insurance policy is 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 instant two 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 will cover third party liabilities and 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 the IFFCO Tokio branch and 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.