Old Two-Wheeler Insurance

Mandatory by Law

Bike insurance is mandatory in India whether you have an old bike or a new one! Driving without one can lead to fines and penalties.

Fire & Theft Protection

Protection against fire damage or uncontrollable events, along with coverage for bike theft or total loss beyond repair.

Coverage for Third-Party Damages

Cover legal liabilities arising from injury to a third-party person or damage to their property due to an accident involving your bike.

Bike's Utility

Even an old bike can be valuable depending on how much you use it. Its value drops each year, so compare its current IDV (Insured Declared Value) with its utility to choose the right insurance. Comprehensive Insurance offers broader protection, while Third-Party Liability is mandatory.

Check Policy Features

India has over 25 general insurance companies, each offering motor policies with varying coverage and conditions. It’s important to assess your needs and find the insurer that best meets them. Once you've chosen, read the policy terms carefully; details like deductibles or exclusions can impact your claim later.

Compare Policies Online

Motor insurance policies can either be purchased online or offline through agents of the insurance companies. Read the wording to understand the terms and conditions mentioned. You should first compare the products. It will be a wise thing to do before buying an insurance policy.

Check for Add-Ons

The owner of any two-wheeler can have options to get some add-on covers also. But add-on covers can be added to the vehicle up to 15 years old. You can choose add-ons like Passenger Cover, Zero Dep Cover, Medical Cover, and accessories cover. You will have to pay an extra premium to avail these covers.

Bike's IDV

In India, you get motor insurance policies for one year. With each year, the IDV of the vehicle is reduced by some percentage. When your vehicle is old, you have lesser IDV and lower premium. It simply implies the value of the bike which will be considered for that particular year.

Bike's Depreciation Value

Before buying the policy for your old bike, decide or know what is the depreciation applicable to the value. In case of any mishap, the reimbursement will be based on the depreciation applicable to the vehicle. As the age of the bike increases which means it gets old, the percentage of the depreciation increases.

Own Damages for Third-Party Policy holder

In the case of a Third-Party or Liability Only Bike Policy, damages to own vehicle won’t be covered. 

Drunk Riding or without a Licence

Your bike insurance won’t cover for you in situations where you were riding drunk or without a valid two-wheeler licence.

Add-Ons Not Bought

Some situations are covered in add-ons. If you haven’t bought those add-ons, the corresponding situations will not be covered.

Contributory Negligences

Any contributory negligence(e.g. damage due to driving a two-wheeler in a flood, which is not recommended as per the manufacturer’s driving manual, will not be covered)

Consequential Damages

Any damage which is not a direct result of the accident (e.g. after an accident, if the damaged two-wheeler is being used incorrectly and the engine gets damaged, it is considered as consequential damage and it will not be covered)

Driving without a valid Driving Licence Holder

If you hold a learner’s licence and were riding your two-wheeler without a valid licence-holder on the pillion seat- then your claim in those situations won’t be covered.