Types of two wheeler insurance plans we offer

Liability only plans

Liability only policies cover only the mandatory third party financial liability. They do not cover damages suffered by the two-wheeler itself.

Comprehensive package plans

Comprehensive two wheeler insurance plans cover both the mandatory third party legal liability and the damages suffered by the two-wheeler itself. These plans are, therefore, called package policies.

Why choose Turtlemint for two-wheeler insurance?

Turtlemint is a reputed online insurance aggregator which helps you in buying two-wheeler insurance online. You can visit Turtlemint’s website and find all popular two wheeler insurance plans. Turtlemint’s website allows you to compare the plans, find the best premium rates, choose and buy the best policy that meets your requirement. You can get expert advice and guidance through Turtlemint’s support team.
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All you need to know about two-wheeler insurance in India

Basics of two-wheeler insurance in India

Bike Insurance not only provides financial protection to the bike but also provides cover for injuries to driver, passengers or pedestrians, and their property. It pays for damages to your bike due to accidents, vandalism, theft, fire, man-made/natural disasters, and third party liability. Considering the exorbitant repair costs these days even a minor damage can cost a fortune. The Motor Vehicles Act also requires every vehicle on the road to at least have a valid third party liability cover, i.e. cover that pays for bodily injury, loss of life and damage to property of a third person that was caused by an accident with your bike..


  • Financial liability faced in case of injury or death of a third party
  • Financial liability faced when a third party property is damaged
  • Personal accident coverage for the owner or driver of the two-wheeler against accidental deaths and permanent disablements
  • Loss or damage of the two-wheeler due to man-made calamities like fire, theft, burglary, collision, malicious acts, etc.
  • Loss or damage of the two-wheeler due to natural calamities like earthquakes, floods, storms, etc.
  • Loss suffered when the two-wheeler is in transit by road, rail, air or water

  • Normal wear and tear and general ageing of the insured vehicle
  • Vehicle used otherwise than limitations as to use
  • Mechanical or electrical breakdown
  • Damage to vehicle by war, mutiny or nuclear attacks.
  • Damage by a person driving the vehicle under the influence of drugs or liquor or with in invalid license
  • Loss of the vehicle or damage that can be sufficiently proven to be deliberate or consequential
  • Loss suffered in the course of criminal activities
  • Loss suffered outside the geographical boundaries of the country

A basic comprehensive bike insurance includes damage to your bike, loss and theft of vehicle as well as third party cover. However, at additional cost in the insurance premium, the bike owners can avail some extraordinary coverage options. The popular add-ons are:

  • Roadside assistance

    Under this add-on, round-the-clock assistance is promised by the insurance company if the bike breaks down in the middle of the road and needs towing assistance.

  • Zero depreciation

    Under this cover the cost of depreciation on the parts of the bike is not deducted from the claim amount. In case of claim, the full cost of the parts is paid without deducting depreciation.

    The depreciation rates which are applicable on the different parts of the bike include the following –

    Nylon parts, plastic parts, rubber parts and battery of the bike 50%
    For all the components made of fiberglass 30%
    Parts made of glass like windshield, etc. NIL

    For the rest of the bike’s parts depreciation is based on age of the bike. It is as follows

    Age of Vehicle % of Depreciation
    Age below 6 months NIL
    Age more than 6 months but less than a year 5%
    Age more than a year but less than 2 years 10%
    Age more than 2 years but less than 3 years 15%
    Age more than 3 years but less than 4 years 25%
    Age more than 4 years but less than 5 years 35%
    Age more than 5 years but less than 10 years 40%
    Age more than 10 years 50%

    Also, for the depreciation in the Insured Declared Value of the vehicle, the following rates are applicable

    Age of The Vehicle % Of Depreciation For Fixing IDV of The Vehicle
    Age below 6 months 5%
    Age more than 6 months but less than a year 15%
    Age more than a year but less than 2 years 20%
    Age more than 2 years but less than 3 years 30%
    Age more than 3 years but less than 4 years 40%
    Age more than 4 years but less than 5 years 50%
  • NCB protect

    If this add-on is selected, the accumulated no claim bonus of the plan is not exhausted even when a claim is made. This add-on, therefore, protects the no claim bonus of the two wheeler insurance plan.

  • Consumables cover

    The add-on covers the cost of consumables which are used in repairs of the bike. Consumables include engine oil, lubricants, etc.

  • Personal accident cover for pillion rider

    The add-on provides personal accident cover for the pillion rider. A lump sum benefit is paid if the rider dies or becomes permanently disabled due to an accident.

  • Return to invoice

    This add-on pays the invoice value of the two-wheeler rather than the Insured Declared Value if the two-wheeler is lost, stolen or is damaged beyond repairs.


No claim bonus is the discount in the premium charged to the policy holder when no claim has been made during the policy term. It keeps increasing from 20% up to 50%, for every claim free year. Your NCB is applicable even if you change your insurer, or buy a new bike. It’s a great incentive to reward safe rider. If you make a claim, you will lose your entire NCB in next policy term. Your NCB will be mentioned on your policy.


If you miss out on your renewals every year and find it difficult to keep a track, multi- year policy can solve this problem. Now you can buy insurance policy not just for one year, but for a period of two to three years. Not only you will get saved from missing the renewals unknowingly, but also you can save on premium. The premium amount of a multi- year policy is lower as compared to an individual policy because you get saved from the hike of third- party premium which happens every year as well service tax.

In-case your policy gets lapsed, the process is quite troublesome. A new IDV is declared, a new premium is fixed, and then two wheeler inspection is done which is time consuming. So, multi- year policy also removes the risk of lapsed policy.

The NCB rewarded to the policyholder is in the form of discount on the premium for a claim free year. Even a minor claim in a year can snatch away your benefits of NCB. The NCB discount given in a multi-year insurance policy is higher than the regular 1 year policy which allows you to have more discounts on your premium amount, thereby saving you money.


As stated earlier, a two-wheeler insurance policy is mandatory by law. This mandate necessitates a two-wheeler plan. Other reasons why two-wheeler insurance plans are needed are as follows –

  • In case of any accident, if you injure any individual or cause someone’s death, you are liable to pay for the financial damages caused. This is called your financial liability. The liability is unlimited in case of death of the third party. Such huge financial liabilities prove to be a strain on average individuals. A motor insurance policy takes off this burden and pays for the liability.
  • Even in case of damage of own vehicle, a comprehensive policy pays for the repair costs. This coverage is also financially rewarding as repair costs might be unaffordable in some cases.
  • If caught without a valid insurance plan, you face legal consequences which might also include imprisonment.

First and foremost, never look at just one or two bike insurance companies; always get and compare at least three quotes. Look for companies that offer discounts and good-driver rewards programs.

Choose a company that has a good and fast claim settlement ratio and record. Talk with family members and friends about their bike insurance providers and experience. Check their social media accounts.

Pick the right Insured Declared Value (IDV) of your bike. Seek additional covers based on your risk profile. Multi-year policies, if available, are good way to ensure long term cover.

Ideally pick company that has a cashless tie-up with the widest network of service stations that you may visit in case of an accident.

Turtlemint helps you with all of the above decisions. In addition, we offer free claims support all our customers. So, give us a try right now!


Our insurance partners have provided us the best possible insurance rates. We pass on the highest possible discounts to you always! It unlikely you will find a better rate elsewhere. If you find let us know. We are ready for the challenge!

How to save money on two-wheeler insurance

Avoid making claims for small expenses because this will cause you to lose your no claim bonus benefit

Employ safety features like anti- theft devices. You may get a discount of minimum 5% on your premium, if you inform the insurance company that you have installed an anti-theft device.

Choose higher deductibles. (Note: this increases your expense on each claim)

The policyholder can avail discounts based on various categories which are declared by the insurance company like the policyholder’s age, profession, driving history, AAI membership, etc. See if you qualify for these.

Most important compare premiums before buy. With Turtlemint you can compare premiums across all the top insurers and get the best rates. Our customers have saved up to 60% doing this.


Calculation of premiums of two-wheeler insurance plans depends on a lot of factors. These factors and their impact on the premium are discussed below –

  • The type of policy being bought. The premium depends on the type of policy selected. Third party premiums have the lowest rate while comprehensive plan premiums tend to be on the higher side because of the coverage the plan provides.
  • The make, model and variant of the bike which determines its cost. The higher the cost of the bike the higher would be the premium charged.
  • The age of the bike that affects the Insured Declared Value. The older the bike the lower would be the IDV and , consequently, the premium charged
  • Term of the policy. Long term plans allow premium discounts which lower the premium calculated
  • Accumulated no claim bonus in an existing policy. The no claim bonus also reduces the premium
  • Other discounts available. There are different discounts available in two-wheeler insurance plans. These discounts lower the premium rate.
  • Registration location. Location of the bike also affects premium calculation. Premiums are higher in metro cities than non-metro cities.
How to make claim under two wheeler insurance plans

In the event of an own damage claim, that is, where your own vehicle is damaged due to an accident, vandalism or natural calamity, you must immediately inform insurance company and police, wherever required.

Insurance company will depute a surveyor to assess the loss, and bike will be towed, if required, to a workshop.

If your policy provides for cashless service, which means you do not have to pay out of your pocket for covered damages, the insurance company will pay the workshop directly. You will need to pay your share of the claim – deductibles, etc – as informed by the insurer. As a Turtlemint customer, you can simply call us to report a claim or any issue with payment, and we will take care of the rest!


Once your claim is accepted, you will be paid the approved claim amount minus certain deductions which you will have to pay out from your pocket:

Standard or Voluntary Deductible: this is a fixed amount that you have to bear before the policy comes into force.

Depreciation: Standard insurance pays for the actual cash value of your damaged or destroyed vehicle part. However, since the part was already in use, its value will be less than or depreciated in comparison to a new replacement part. This will be 30% for fibre components and 50% for plastics and rubber. If you do not want to bear the depreciation cost, you can buy zero depreciation add-on which is available typically for bikes not older than 3 years.


If your vehicle is stolen, police and the insurance company must be informed immediately. In addition you must keep the transport department also informed. To make a claim, the vehicle needs to be covered under the comprehensive insurance policy.

You will need to submit the police First Information Report (FIR), letter intimating RTO along with requisite claim form duly filled in, to the insurance company. Your claim will be paid after police give the final “non-traceable” report.

The amount you will receive for a theft claim is the Insured Declared Value (IDV) mentioned in the policy. You will need to sign the RC in favour of the insurance company and complete other handover formalities.


A third party claim, is where your vehicle was involved, in causing bodily injury, death or damage to property. It is important to ensure that the accident is reported immediately to the police as well as to the insurance company. On the other hand, if you are a victim, that is, if somebody else’s vehicle was involved, you must obtain the insurance details of that vehicle and make an intimation to the insurer of that vehicle.

The limit for property damage liability is capped at Rs. 7.5 lakhs. Any amount above this will have to be borne by the policyholder. There is no limit for bodily injury or death claim. The amount of liability is decided by a special court, the Motor Accident Claims Tribunal, based on factors such expenses for medical treatment of the injured, and loss of income in case of death.


It’s simple, just call us on our toll-free number about a claim you want to report, dispute or discuss. Our expert claims team will help you through the entire process. Our team will also work with the insurance companies directly to advance your case, and proactively inform you about the progress.

With our experience of having processed thousands of cases successfully, you can rest assured that you will get the best service and outcome.

You can also visit the link https://www.turtlemint.com/raise-claim and raise a claim with Turtlemint easily.

Other FAQs

There is no limit to the number of Two wheeler insurance plans are also offered for longer durations. These policies are called long term policies. In fact, IRDAI, i.e. the Insurance Regulatory and Development Authority India has made long term two-wheeler insurance plans compulsory for new bikes which have been bought on or after 1st September, 2018.

As per the latest Supreme Court ruling,

  • All new two-wheelers should have a 5-year Third Party Motor Insurance cover
  • All new cars should have a 3-year Third Party Motor Insurance cover

So, for bike owners who buy a new motor insurance policy on or after 1st September 2018, there are two options -

  • They can buy a 5-year long term comprehensive policy for their bikes, or
  • They can buy a 5-year long third party coverage and 1-year own damage coverage

The benefit of long term policies is that there is no hassle of annual renewals and the premium rates are also cheaper


Two-wheeler insurance plans come with tenure of one, two or three years. After the term of the policy is over the policy should be renewed for continued coverage.


A two wheeler insurance policy can be renewed online or offline. If you want to renew the policy offline you have to get in touch with an insurance agent selling two wheeler insurance plans or buy the plan by visiting the company’s office. Online mode is simpler as you can buy the policy from the comfort of your home. Online renewals can be done either from the insurance company’s website or from the website of insurance aggregators and online brokers. The latter is a better choice as you can compare the available plans before buying one.


When renewing online, comparison is a must. When comparing, you should check the following points –

  • The IDV
  • The premium charged
  • The coverage benefits
  • The discounts available
  • List of cashless garages

If the policy is not renewed before the current plan expires, coverage would lapse. In a lapsed policy, no claim is admissible. On renewing the plan after a lapse, inspection of the bike would be required which would be time-consuming. Premiums might also increase for renewals of a lapsed policy. Moreover, if the policy is not renewed within 90 days of lapse, the accumulated no claim bonus is lost.


Claims in a bike insurance policy can be made in three circumstances –

  1. When the bike is stolen or lost
  2. When a third party is hurt or a third party property is damaged
  3. When the bike suffers a damage

To make a successful claim you should submit your driving license, RC book of the bike, insurance document and claim form. In case of third party claim or if the bike is stolen, police FIR is also required.


Yes, bike insurance claims can be rejected in the following instances –

  • When the policy has lapsed
  • If the claim is for an excluded coverage
  • If the claim process is not followed
  • If all required documents are not submitted

When the policy is bought online, you get the following benefits –

  • You can compare the available policies and choose a policy which is ideal for your bike
  • You can get low premium rates
  • The policy is bought instantly without hassles of visiting the insurance company offices
  • Premiums can also be paid online through secure gateways

The premium for third party liability plans are fixed by Insurance Regulatory and Development Authority of India (IRDAI) which is the insurance regulator. In case of comprehensive two wheeler insurance plans, the premium is fixed by the insurance company after taking into consideration the coverage provided and the bike details.


A comprehensive policy would be suitable as the lender would insist on complete coverage of the bike. Even if the bike is stolen or completely damaged the comprehensive policy would pay a lump sum benefit which can be used to settle the loan taken for buying the bike.


The policy should be transferred when you are selling your bike to someone else. In such cases the policy should be transferred in the name of the buyer of the bike.


To transfer the policy, you should, first get the vehicle registered under the name of the new buyer. This registration is done by the RTO and the RC book of the bike is transferred in the buyer’s name. Once the RC book is transferred, the insurance company should be sent a copy of the same with a written request to transfer the two wheeler insurance policy.


No, the no claim bonus belongs to the original owner of the bike. Even if the bike is sold to another individual, the no claim bonus would remain with the previous owner.


If you have sold your old vehicle and want to transfer your no claim bonus to another policy, you should make a written request to the insurance company. The company would require the proof of sale and then allow you a no claim bonus certificate. This certificate can then be submitted with the new insurance company to transfer the no claim bonus to the new insurance policy.


If you are caught by traffic authorities and you fail to produce the proof of a valid insurance cover you face legal consequences. You would be penalised heavily and lack of insurance might also result in imprisonment in case of third party deaths.


Two wheeler insurance claims are settled in two ways – either through cashless or through reimbursement.


A cashless claim is one where the insurance company pays the repair costs directly to the garage without you being involved in paying for the expenses yourself.


In case of reimbursement claims, you get your bike repaired and settle the costs yourself. Thereafter, the repair bills would be submitted to the insurance company with the claim form. The company would assess the bills and reimburse you for the costs you have incurred.


Your choice of garage decides the type of claim the company would settle. If you get your bike repaired at a networked garage, you cab avail cashless claim settlement facility. However, if your bike is repaired at any other garage, the claim would be settled on a reimbursement basis.


With the application of GST, the premiums for two wheeler insurance plans are increased by 18%.


Total Constructive Loss of the bike is considered when the bike is damaged so badly that the repair costs would exceed the IDV of the policy. In case of TCL, the insurance company pays the IDV as claim.


IDV is short for Insured Declared Value. It represents the market value of the bike less depreciation based on the bike’s age. IDV is maximum sum insured offered by the policy which represents the maximum liability undertaken by the insurance company to compensate you in case of TCL or theft of the bike.


If the policy is lost, a duplicate policy can be arranged by requesting the insurance company.


No, if a new bike is bought a new insurance policy must also be affected on the new bike because the details of the new bike would be different from the details of the old bike. As such, new coverage with a new premium would have to be made.


Voluntary deductible represents the amount of claim which the policyholder chooses to pay from his own pockets before the insurance company pays the rest. Voluntary deductible, when chosen, allows a premium discount.


A compulsory deductible is the portion of claim which the policyholder is supposed to pay himself. Unlike in case of voluntary deductible, in case of compulsory deductible the policyholder has no choice. He/she has to pay the portion of compulsory deductible for bike insurance claims.


When you compare two wheeler insurance plans you can –

  • Choose an ideal IDV
  • Choose a plan with the most inclusive coverage features
  • Pick a plan with the lowest premiums
  • Look for plans with highest discounts
  • Look for plans with an extensive network of cashless garages.

For third party physical injury or death, the coverage allowed is unlimited. The company would pay the financial compensation directed by the claims tribunal. In case of third party property damage, the claim amount is limited to INR 7.5 lakhs


The network of cashless garages can be checked online on the insurance company’s website. Moreover, in case of claim when you call the insurance company, the company would itself inform you of the nearest cashless garages in your vicinity.

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