Bike Insurance for Imported Two Wheelers in India

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Meaning Types What's Covered Imported vs Normal Bike Insurance Factors Affecting Insurance Premiums Tips FAQs

What is Imported Bike Insurance?

Imported bike insurance is a special policy for foreign-made bikes imported into India. They arrive complete or assembled locally as Completely Knocked Down (CKD) units. It differs from regular bike insurance in insuring high-end models, costly spare parts, and advanced repairs.

What are the Types of Imported Bikes?

CBU

CKD

The bikes are made and assembled outside India and imported to India. Completely Built Unit (CBU) bikes are subject to more import duties and insurance fees.

These motorbikes are imported to India in parts and locally assembled. Since Completely Knocked Down (CKD) models involve local assembly, they attract less import duty and fewer insurance charges than CBU models.

What's Covered in Imported Bike Insurance?

Here are the coverages that come under imported bike insurance:

Imported Bike Insurance vs Normal Bike Insurance

Imported bike insurance is quite different from regular bike insurance. The following table highlights key differences:

Feature	Imported Bike Insurance	Normal Bike Insurance
Premium Cost	Higher because of high-cost, high-value spare parts and high-repair costs. Import duties add to overall costs.	Lower costs are due to local parts and repair cost savings.
Coverage	Comprehensive features include high repair costs, theft, natural disasters, and custom coverages.	Standard types of covers are third-party and own damage covers.
Spare Parts Cost	Expensive since parts are imported, leading to delays and higher replacement costs.	Less costly because it is locally manufactured.
Repair & Maintenance	Needs specialised workshops and skilled human resources; repair is time-consuming and expensive.	Repairable at the local workshops by mechanics.
Claim Settlement	More time-consuming since it is hard to find spare parts, and repair is costly.	Faster due to the quick availability of parts and easy access to service centres.
Risk Factors	More, as there is an increased risk of theft, expensive replacement, and fewer repair centres.	It is low risk because parts are readily available, and maintenance is cheap.
Import Duties Impact	Import duties increase the price of the bike, which in turn increases the premium value.	No import duties, leading to more affordable insurance premiums.
Depreciation Rate	Higher depreciation due to import factors, expensive spare parts, and a limited resale market.	Reduced import-related depreciation because of local production.
Resale & Transfer of Ownership	Complex resale process because of specialised demand and high maintenance charges.	Simple resale because of the boom in the market and a simple transfer of the insurance process.

Factors Influencing Insurance Premiums for Imported Bikes

Here are some of the factors that influence the insurance premiums for imported bikes:

Bike's Value and Model - Imported high-end bikes, such as those with top-quality parts, which makes them expensive to insure. Their advanced technology, skilled maintenance, and high repair costs increase premiums. These bikes need expert repairs, which raises insurance costs.
Import Type - Completely Built-Up (CBU) bikes are produced entirely and later exported overseas. They receive higher insurance and import duties. Completely knocked-down bikes are shipped outside and assembled locally, so they are cheap.
Engine Capacity - Imported superbikes have larger engine sizes above 500cc, which influences insurance prices. These bikes have a higher chance of being in serious accidents, and since they are high-performance machines, insurers pay more in claims for possible damage.
Choosing the Right Policy - While buying insurance for an imported motorbike, the motorcyclist has to select a policy with proper coverage at a reasonable price. Imported bikes are expensive to repair and come with unique risks. Therefore, one must research insurance plans thoroughly.
Spare Parts Availability - Imported bike spares are not readily available. Since spare parts have to be imported from foreign dealerships, insurance companies consider high replacement costs. Unavailability raises the possibility of delayed repair, which leads to high claims.

Tips for Purchasing Imported Bike Insurance

Getting the right bike insurance policy is more than choosing the cheapest option. A well-balanced policy ensures you have adequate coverage without overspending. Here are some key tips to help you get the best coverage:

FAQs about Imported Bike Insurance

All

Is imported bike insurance different from regular bike insurance?

Yes, imported bike insurance differs from regular bike insurance. It has higher premiums and extensive coverage, including import duties, exceptional repairs, and costly spare parts.

Why is insurance for imported bikes more expensive?

Imported bike insurance is expensive because it has a high market value. Spare parts are costly and need specialised care. They also have higher import duties and taxes and fewer centres to maintain them.

What factors affect the insurance premium for an imported bike?

Various factors affect imported bike insurance premiums. Key factors include import and customs duties, expensive spare parts, and repairs. The rider's driving and claim history also influence the final premium.

Can I get third-party insurance for an imported bike?

Yes, third-party insurance for imported bikes is possible. However, it won't cover you against theft, damage, or repairs to your bike. Comprehensive insurance is needed to ensure better protection.

Does comprehensive insurance cover imported bike theft and accidents?

Yes, a comprehensive policy covers theft and accidental damage to imported bikes. It also includes third-party insurance, ensuring complete protection for your imported bike.

Are imported bike parts covered under insurance claims?

Yes, but as imported spare parts are costly and difficult to find, the insurers can cover only part of the cost. Add-ons are present in some policies for full spare parts coverage.

What are the best add-ons for imported bike insurance?

Best add-ons include:

Zero Depreciation Cover (provides complete claim amount without deduction of depreciation).
Engine Protection Cover (provides water or oil leakage damage coverage).
Roadside Assistance (breakdown and road emergency assistance).
Consumables Cover (oil, nuts, bolts, and brake fluid coverage).
Return to Invoice (returns full invoice cost in the event of theft or write-off of the bike).

Can I transfer my imported bike insurance if I sell the bike?

Yes, transferring insurance to the new owner is possible. The seller must notify the insurance company, and the new owner must furnish documents to take advantage of the coverage.

How do I choose the best insurance provider for my imported bike?

To choose the best insurer, look into:

Claim settlement ratio (the higher, the better)
Customer reviews and reputation
Add-ons and coverage
Cashless repairs at network garages

What documents do we need to buy imported bike insurance?

You will need the bike's registration certificate (RC), customs clearance, and purchase invoice. You must also submit proof of the owner's ID and address.

Can I get insurance for an imported second-hand bike?

Yes, you can get insurance for second-hand imported bikes. The insurance company will consider the motorbike's age, market value, and condition before offering coverage.

Written By:

Manasvi Gupta

Reviewed By:

Mayur Kacholiya