Insurance · Motor — bike

Two-Wheeler Insurance

Mandatory for all two-wheelers in India. Standard policy is ~₹1,000-₹3,000/year for Third-Party + ~₹2,500-₹6,000/year for Comprehensive. Long-term 5-year policies (post-2018) lock in premium + reduce yearly hassle. NCB transfers across insurers.

Who needs this

Every two-wheeler owner — Third-Party is legally mandatory. Comprehensive recommended for new bikes, EVs (battery cover), and bikes worth ₹50K+.

Key decisions

Q1
Should I take a 5-year long-term policy?
Yes for new bikes — locks premium for 5 years (typically 25-30% cheaper cumulatively), avoids annual renewal hassle.
Q2
EV-specific add-ons?
Yes — Battery Protection (covers battery damage, theft, fire). Critical for EVs since battery is 30-40% of vehicle cost.
Q3
What's typically NOT covered?
Drunk driving accidents. Driving without valid licence. Wear-and-tear depreciation. Accessories damage (unless add-on).
Q4
Lapsed policy — what to do?
Get inspection done first. Most insurers offer renewal with break-in inspection within 90 days. Beyond that, consider it a fresh policy.

Top insurers ranked by claim settlement

Two-Wheeler Insurance — Claim Settlement Ratio

Source: IRDAI Annual Report 2024-25 · published values

Tata AIG
90.00%
Bajaj Allianzbest
89.86%
Reliance General
89.00%
Acko
86.39%
ICICI Lombard
86.00%

Bajaj Allianz:Bike Pack — strong network, fast claim, competitive long-term pricing.
Tata AIG:Two-Wheeler Insurance — paperless claim + EV-specific cover.
Acko:100% digital, lowest premium, RSA included.
ICICI Lombard:Long-term plans + good cashless network.
Reliance General:Strong rural + Tier-2/3 network.

IRDAI rules + scheme specifics

Third-Party premium fixed by IRDAI annually.
Long-term policies (3-year for cars, 5-year for two-wheelers) mandatory at point of sale per Supreme Court ruling.
Pillion rider cover: not included by default; add as rider.
EV battery cover: optional add-on; worth ₹500-1500/year for ₹50K-1L battery cost.