Third-party premium has changed from 1st June. Renew now
All about New Bike Insurance Explained
Finally got that two-wheeler? We’re happy for you! But as an expert, we would like you to also think about its protection; and it's very simple - you can protect it by simply getting it insured and we’re here to guide you through just that.
What is New Two-Wheeler Insurance?
How Does a Bike Insurance Work?
Why is It Important to Insure a New Bike?
Things to Consider When Buying New Bike Insurance
Why Choose Digit?
Key Features
New Bike Insurance Plans in India
Buy New Bike Insurance Online
How to Download Digit Two-Wheeler Insurance Policy Document?
How to File & Track a Two-Wheeler Insurance Claim with Digit?
Importance of IDV When Buying New Two-Wheeler Insurance
Frequenlty Asked Questions
What is New Two-Wheeler Insurance?
- New two-wheeler insurance is an insurance policy designed to protect your two-wheeler against damage or loss. It typically includes coverage for damages resulting from accidents, natural disasters, fire, theft, etc.
- You need bike insurance for new bike as it will financially protect you and reduce your out-of-pocket expenses in case you get into an accident. You can choose from 3 types of bike insurance plans catering to your specific needs.
How Does a Bike Insurance Work?
Bike insurance is a contract between you and the insurer, offering financial protection for your bike against accidents, natural disasters, theft, and other unforeseen events. Here’s how it works:
Choose a Policy
Select a bike insurance plan – third-party, comprehensive, or own damage – and add-ons that fit your needs and budget.
Buy or Renew Policy
Purchase or renew your bike insurance online instantly with Digit, with minimal paperwork.
Pay Premium
Make regular payments (annually or in installments) based on factors like bike’s age, model, IDV, NCB, and coverage type.
File a Claim
If your bike is stolen or damaged in an accident, you can file a claim with your insurer, who after damage assessment will settle the claim as per the policy terms.
Why is It Important to Insure a New Bike?
Getting bike insurance for new bike is important due to the following reasons:
- Legal Requirement: In India, having at least third-party insurance is mandatory. It covers your new bike against financial liabilities to any third party caused due to your vehicle.
- Financial Protection: In case of accidents, theft, or damage, a new bike insurance will financially back you up in such situations.
- Peace of Mind: Knowing that your new bike is protected at all times with a bike insurance policy allows you to ride with confidence.
Things to Consider When Buying New Bike Insurance
There are several factors to keep in mind when buying bike insurance for your new bike. Paying attention to them will ensure that you fetch an ideal level of cover. Some of these factors are given below:
- Compare Rates Online: Go online to compare the bike insurance premium rates. You can also buy your policy online as there are various options available. The best part of buying a policy online is there is no paperwork involved, just put down your details online and you are sorted. You can also use Bike Insurance Calculator to calculate and compare the premium.
- Policy Type: Know the policy types, it is very important to know the options you have to make an appropriate decision. Choose third-party insurance or a comprehensive plan depending on your insurance needs.
- Add-Ons: Choosing the right bike insurance add-ons along with your policy can give you maximum benefits. Some of these are, Zero Depreciation cover, NCB cover, Return to Invoice Cover and Engine Protect cover, and more.
- Right IDV: Right IDV plays an important role in choosing or renewing your bike policy. The higher the IDV, the higher is the compensation at the time of unforeseen situations.
- Claim Procedure: This is very important; this process should be super-fast and hassle-free. Check the claim history of the insurer from sources such as their social media channels, official website and customer reviews.
Why Choose Two-Wheeler Insurance by Digit?
Digit’s Motor Insurance Claim Settlement Ratio is 96% for FY’25
When it came to motor insurance specifically, Digit showcased a high-efficiency Claims Settlement Ratio (CSR), with 96% of motor claims settled seamlessly and we make this simple with:
Smartphone-enabled self-inspection process, with which you can file your claim in minutes!
Cashless Claims at over 9000+ garages in India, so you can get your two-wheeler fixed without stress.
Everything digital and paperless. No need for hard copies—just upload everything on our app, and you're all set!
Digit Bike Insurance in News
Go Digit posts 3x jump in Q2 net profit; gross premium collected at Rs 2,368 crore
- 24 Oct 2024
- The Economic Times
Digit Insurance launches comprehensive 'EV Shield' add-on cover for electric vehicles
- 20 Jan 2025
- CNBC TV18
Digit Insurance launches “that’s it!” ad campaign with Virat Kohli
- 14 Jun 2024
- The Economic Times
Dogs, coconuts and monkeys: Insure your vehicles from their mayhem right now!
- 20 Jun 2024
- Business Insider
Third-Party Vehicle Insurance: Insurers in distress over three-year rate pause
- 04 Mar 2025
- Mint
Key Features of Two-Wheeler Insurance by Digit
Interesting Insights & Claim Stories of Digit Customers
A Digit Two Wheler Insurance Customer Received a Total Loss Claim of ₹3.22 Lakh in Bengaluru
In a recent case from Bengaluru, one of our policyholders experienced a total loss after their two-wheeler was severely damaged. Fortunately, the vehicle was insured, and we processed a claim payout of ₹3.22 lakh. This case highlights the importance of having dependable insurance coverage to stay prepared for life’s unexpected turns.
Digit Settled a Third-Party Claim Worth 1.12 Crores in Hoshiarpur, Punjab
In a recent case from Hoshiarpur, one of our policyholders was involved in a two-wheeler accident that tragically resulted in a third-party fatality. In this case, the vehicle was covered under a valid third-party insurance policy, and we processed a claim payout of ₹1.12 crore to address the resulting liability. This case highlights the vital role third-party insurance plays—even for smaller vehicles like two-wheelers—in offering essential protection during unforeseen events.
Rat Attacks on Two-Wheelers on the Rise
In Surat, a bike owner faced an unusual problem—rats chewed through the wire harness not once, but twice in a single year, all while the vehicle was parked safely at home! Thankfully, the insurance policy included coverage for such unexpected damages. Both times, the repair costs were fully covered, saving the owner from out-of-pocket expenses.
This case proves that insurance isn’t just for accidents or theft—it also protects against the most unexpected (and smallest) threats.
BSVI Becomes the New Standard in Vehicle Insurance
BSVI-compliant vehicles now make up 39% of the insured fleet, surpassing BSIV at 36.46%. This shift reflects a growing move toward cleaner, more efficient vehicles. Insurance is evolving alongside the vehicles it protects.
From Everyday Drives to Luxury Rides – Digit is the Trusted Insurance Choice
This year, we received some standout premium payments across different vehicle types. A Ferrari topped the list in the four-wheeler category with a premium of ₹8.04 lakh. In the two-wheeler segment, a Hayabusa was insured with a premium of ₹44,000. And in the commercial vehicle category, a Volvo L150 wheel loader was covered with a premium of ₹3.53 lakh. This highlights how our insurance scales to match the value and purpose of every vehicle, whether it’s built for speed, style or strength.
New Bike Insurance Plans in India
| Third-Party | Comprehensive | Own Damage |
Damages/Losses to own two-wheeler due to an accident |
||
Damages/Losses to own two-wheeler in case of fire |
||
Damages/Losses to own two-wheeler in case of a natural calamity |
||
Damages to Third-Party Vehicle |
||
Damages to Third-Party Property |
||
Personal Accident Cover |
||
Injuries/Death of a Third-Party Person |
||
Theft of your scooter or bike |
||
Customize your IDV |
||
Extra protection with customized add-ons |
||
| Get Quote | Get Quote | Get Quote |
Know more about the difference between comprehensive and third party two wheeler insurance
73% Two Wheeler Repair Work Approvals done within 12 hours
- In H2 FY25, our average two-wheeler repair approval time was 14 hours and 32 minutes, with 73% of approvals completed within 12 hours. Only a few cases experienced longer wait times, typically due to complex assessments or the need for additional documentation, highlighting our commitment to minimising delays and maximising efficiency.
- Rest assured, we carefully monitor every step to ensure your two-wheeler is back on the road as swiftly as possible!
Digit Settled 9.16 Lakh Claims with 99.9950% Accuracy in FY'25
The below data is for all the products as given in the table below.
Settled 9.16 Lakh Claims Settled
That’s how many times we showed up for our customers in FY 2024–25. Behind each of those numbers is a mishap, and we were right there, making sure things got sorted quickly.
Out of these, nearly ₹6.52 lakh were motor insurance claims alone—proof that we’re there when it matters most, whether it’s something trivial or serious.
₹4,622 Crore Paid in Claims
From minor hiccups to major emergencies, we made sure our customers didn’t have to carry the financial burden alone. Quick settlements, zero confusion, and real peace of mind.
Of this, ₹2,199 crore was paid out under motor insurance, covering everything from accidents to unexpected situations like rat damage.
99.9950% Claims Accuracy
Out of 9.16 lakh claims in FY 2024–25, only 256 were escalated to the Hon’ble Ombudsman^. Out of which only 46# were escalated and ruled in favour of the customer. This significantly proves the claim's accuracy rate of 99.9950%.
For Motor Claims, out of 256 escalated claims for Digit, just 124 were motor-related. By year-end, 104 motor claims were closed, with 28 resolved through mediation. Only 26 health claim decisions went in favour of customers.
Ombudsman Complaints for FY 2024-25
The below information is a summary of escalated claim cases reviewed by the Hon’ble Ombudsman in FY 2024–25.
Disclaimer: ^This data pertains to cases reported to various offices of the Hon’ble Insurance Ombudsman. Customers have the option to approach the Consumer forum as well; #Only includes complaints arising from claims. The company had a total of 11 complaints arising from non-claims, i.e., policy-related grievances (5 won, 2 settled, 1 lost, and 3 outstanding). One non-claim complaint where the decision went in favour of the complainant is not included in the numerator while calculating claims accuracy.
Importance of IDV When Buying New Two-Wheeler Insurance
- IDV or the Insured Declared Value of the two-wheeler is the maximum amount your insurer will give you, in case your bike is completely damaged or stolen. We know low premiums are luring but it will not give you maximum financial benefit. That’s why you should always check the IDV you are being offered and not just the premium.
- We suggest you choose higher IDV, you know why? In the case of the total loss of your bike, a higher IDV leads to higher reimbursements.
- At Digit, we let you customise your IDV as per your choice because we want you to make the right decision without any compromises.
FAQs about New Bike Insurance
What is new bike insurance?
New bike insurance is an insurance policy purchased for newly bought two-wheelers that protects them against various risks.
Why should I buy insurance for new bike?
New bike insurance is crucial as it covers your new vehicle from financial losses from accidents, theft, or damage, and also allows you to comply with legal requirements.
How can I buy new bike insurance online?
You can buy new two-wheeler insurance online by visiting Digit’s website or app. Then provide your vehicle details, select bike insurance plan you want, pay the premium and you’re done!
What documents are required to purchase new bike insurance?
You will need a bike registration certificate, identity proof, and address proof.
How is the new bike insurance price calculated?
New bike insurance price depends on various factors such as bike model, age, location, coverage type, and rider's driving history.
What is a No Claim Bonus (NCB) in new bike insurance?
It is a discount offered on the bike insurance premium as a reward for not making any claims during the previous policy period.
What is the process for new bike insurance renewal?
To do new bike insurance renewal, visit Digit’s website or app, select the policy type, enter your previous policy details, review and update information, and make the payment.
Is it mandatory to have insurance for new bike in India?
Yes, having at least third-party bike insurance is mandatory by law in India.
What is the difference between third-party and comprehensive new bike insurance?
Third-party plan covers only liabilities to third parties, whereas a comprehensive plan covers third-party liabilities as well as damage to your own bike.
How long does it take to get new bike insurance?
You can buy new bike insurance online instantly, usually within a few minutes.
What happens if I don’t do my new bike insurance renewal on time?
In such a case, your bike insurance policy will lapse, and you won’t be covered financially anymore. Not having an active insurance policy will also lead to legal issues.
Can I switch my new bike insurance provider after purchasing the policy?
Yes, you can switch providers at the time of renewal.
What are the exclusions in the new bike insurance?
Common exclusions include wear and tear, mechanical breakdowns, and driving under the influence of alcohol.