Old Bike Insurance

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9000+ Cashless

Network Garages

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96% Claim

Settlement (FY23-24)

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24*7 Claims

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Manasvi Gupta

Written By:

Manasvi Gupta

Manasvi Gupta

Manasvi Gupta

Content Writer

Storyteller at heart, Manasvi brings 4 years of content and marketing experience to Digit. Whether it's writing SEO-optimised articles or a researched and insightful blog, she strives to transform ideas into creating impactful and engaging content.

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Reviewed By:

Mayur Kacholiya

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Mayur Kacholiya

Product Head - Motor

Mayur specializes in motor insurance and is responsible for overseeing the development and management of motor insurance products. With expertise in product strategy and market analysis, he focuses on developing customer-centric insurance solutions.

Buy/Renew 2W Insurance Policy for Old Two Wheelers & Bikes

What is Old Bike Insurance?

What is Old Bike Insurance?

What is Old Bike Insurance?

  • Let us be real and know that an old two-wheeler cannot be safe to ride unless it is taken for due services. When your bike is more than 10 years old, you can consider it really old. 
  • So, old bike insurance means the insurance plan you buy to insure your old two-wheeler, whose value has depreciated over the years. For example, buying two-wheeler insurance which you own for more than 10 years would be considered old two-wheeler insurance. You may choose between different insurance plans such as Comprehensive bike insurance or Third-Party bike insurance.

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 an Old Bike?

Why is It Important to Insure an Old Bike?

Why is It Important to Insure an Old Bike?

You need to buy bike insurance for your old vehicle to protect it against the risk of:

  • It is mandatory by law to have at least Third-party Bike Insurance in India, whether you have an old bike or new.
  • Damage through fire or any event that is beyond control.
  • Loss due to bike theft or total damage of your bike that is beyond repair.
  • Liability which may arise due to the damage to any third-party property resulting from an accident involving your bike.
  • Liability which may arise due to bodily injury to any third party resulting from an accident involving your bike.

Why Customers Trust Digit Two-Wheeler Insurance?

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8 Lacs+

Claims Settled

1000 Crore+

Paid-in Claims

96%

Claim Settlement Ratio (FY'25)

9000+

Cashless Garages

Disclaimer: The total number of claims settled and amount paid in claims is for two-wheeler policies since inception till 31st December-2024. 96% claims settled for Overall Motor line of business of Digit. CSR Is calculated for FY 24-25. CSR Ratio is count of (Claims paid + Claims Closed) / (Claims O/S at Start + Claims Reported - Claims O/S at End). 9000+ cashless garage network count as of 31st March-2025.

Why Choose Old Two-Wheeler Insurance by Digit?

Your old two wheeler insurance not only comes with a super easy claim process, but also with the option to choose a cashless settlement.

Cashless Repairs

Cashless Repairs

9000+ Cashless Network Garages for you to choose from across India

Smartphone-Enabled Self Inspection

Smartphone-Enabled Self Inspection

Quick and paperless claims through Smartphone enabled processes that make you go "That's it?"

Super-fast Claims

Super-Fast Claims

We’ve settled 96% of all two-wheeler claims! Experience claims that make you go “that’s it?”

Customize your Vehicle IDV

Customize Your Vehicle IDV

With us, you can customize your vehicle IDV as per your choice!

24*7 Support

24*7 Support

24*7 call facility even on National Holidays

Complimentary Wellness Benefits

Get exclusive wellness benefits on the Digit App offered by top-rated health and wellness partners.

Digit’s Motor Insurance Claim Settlement Ratio is 96% for FY’25

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!

What Our Customers Have to Say about Us

4.7/5

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(250K + Customer Ratings)

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See All Reviews
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quote 6 Dec 2024
a great pleasure to be affiliated with you , Had met an accident and got the damaged parts replaced within a day after raising the claim . Thank You
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Shaaz Suhail Salafi

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quote 13 Dec 2024
Very good service. Within two minutes i renew my vehicle insurance online.
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Ajay Bharade

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quote 13 Dec 2024
Dear For todays world If any One wants to open a fresh Vehicle Insurance Policy which has all the transparency users frndly Plus the staff is very cooperative hats off. Wishing God bless for all yr future Endeavor 's. Sr Citizen-Policy-Investor
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DinShaw Sahukar

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quote 20 Dec 2024
Quick reaction on Road side assistance and continuous follow up till resolution. Happy with assistance in late night hours.
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Abhishek Sharma

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quote 13 Aug 2024
I had issue with the motor insurance policy and wanted to upgrade it. The customer care executive had enough patients to explain me everything point to point. Thanks a lot Sudip.
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Pratheesh R

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Key Features of Two-Wheeler Insurance by Digit

Key Features Digit Benefit
Premium Starting from ₹714
No Claim Bonus Up to 50% Discount
Customizable Add-Ons 8 Add-ons available
Cashless Repairs Available at 9000+ Garages
Claim Process Smartphone-enabled Claim process. Can be done online within 7 minutes!
Own Damage Cover Available
Damages to Third-Party Unlimited Liability for Personal Damages, Up to 7.5 Lakhs for Property/Vehicle Damages

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 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

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.

How to Buy/Renew Old Bike Insurance online?

How to Buy/Renew Old Bike Insurance online?

How to Buy/Renew Old Bike Insurance online?

Consider you bought Royal Enfield bullet, more than 10 years old, from your close friend. You have a passion for bike rides but before you start to use it, you want insurance cover for the same.

It is good that you are being wise and choose safety over challenges. But the procedure to procure the insurance policy when you are buying an old bike is completely different. For that you can choose either of the two:

  • You can continue with the existing insurance but the request for the change of name in the policy. The insurance company will issue an endorsement to you. You will have to produce the proof of transfer of ownership.
  • And the second option can be when you can ask for the new policy from the insurer of your own choice. In this case, a survey will be arranged for the bike post which the policy will be issued.

Buy/Renew Old Bike Insurance with Digit

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Enter Bike Details

On the Digit App or website, enter bike’s registration number and select the policy status.

Choose a Plan

Select the type of bike insurance plan and choose desired add-ons.

Enter Personal Details

Enter your personal, nominee and vehicle details, and move to the next step.

Make Payment

Complete the payment and mandatory KYC verification process.

That's It!

You’ll receive the policy document via email, SMS and WhatsApp. Also, you can access it 24X7 on the Digit App.

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Login

Login to Digit App or website and go to the ‘My Policy’ section.

Select Policy

Select the policy pending for renewal and click on ‘Renew Policy.’

Choose a Plan

Next, select the add-ons and tenure and confirm the details, and move to the next step.

Make Payment

Complete the payment and mandatory KYC verification process.

That's It!

You’ll receive the policy document via email, SMS and WhatsApp. Also, you can access it 24X7 on the Digit App.

How to Download Your Digit Two-Wheeler Insurance Policy Document?

After purchasing a two-wheeler insurance policy, it is essential to download and keep a copy for future reference. With us, you do not need to carry hard copies of your insurance policy. You can simply download it from our app. 🙂 Follow these simple steps to download your policy document from the Digit website or app:

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Login Your Account

Visit the Digit website or app and click on ‘Login’ at the top-right corner. Enter your registered mobile number and verify with OTP.

Visit ‘Active Policies’

Once logged in, navigate to the Active/My Policies section. Here, you can check the policy number, end date & start date.

Download the Policy

Done! You can save, share, print or email the policy for future reference anytime, anywhere.

How to File & Track a Two-Wheeler Insurance Claim with Digit?

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Login

Open the Digit App and go to the "File Motor Claim" option. Login and you'll be directed to the "File Motor Claim" page. Click on the policy card to start claim filing.

Provide Details

Fill in all the details related to the accident and damage to the bike.

Enter Personal Details

Update your personal details and that's it, your claim is successfully filed, and you will receive the next steps on your email & WhatsApp.

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Login

Open the Digit App and go to the ‘Check Motor Claim Status’ option. Here you can see the complete list of claims filed on your phone number.

Select Claim

Select the claim you want to check the status of. You can see the details of the claim, the current status, timeline, detailed summary, and repairer details too.

How is AI making Digit’s Motor Insurance Claim Process Faster & Smarter?

Two-Wheeler Insurance Claims Made Simple with Digit

How is AI making Digit’s Motor Insurance Claim Process Faster & Smarter?

At Digit, we believe filing a motor insurance claim should be simple, not stressful. That’s why we’ve built intelligent automation into every step of the process—so you can get back on the road, faster.

  • AI That Sees What You See: When you upload a video of the damage through our app, our AI doesn’t just watch—it analyses. Using advanced image recognition, it assesses the extent of the damage, classifies it, and helps determine the next steps. This means quicker evaluations, fewer delays, and a smoother experience for you.
  • Automated Document Processing: From inspection reports to claim forms, our AI systems automatically sort and process your documents. This reduces manual effort, minimises errors, and speeds up approvals. And with a human-in-the-loop approach, we ensure every claim is handled with both precision and empathy.
  • Automation That Works Behind the Scenes: Our systems also fetch claim details directly from partner platforms, eliminating the need for repetitive data entry. Whether it’s Bulk Policy Issuance or real-time claim registration, automation helps us move faster—so you don’t have to wait.

73% Two Wheeler Repair Work Approvals done within 12 hours

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

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

₹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

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. 

LOB Total Claims Paid (in number) Total Claims Amounts Settled Total Complaints that went to Ombudsman Total Complaints where final decision was given Total Complaints Settled via Mediation Total Decisions in favour of Customer
Health (including PA, travel) 2,18,082 ₹1,374.64 Crore 110 86 21 18
Motor(OD + TP, Including theft, PA) 6,51,954 ₹2,199.58 Crore 124 104 28 26
Other LOBs (miscellaneous) 45,642 ₹1,047.34 Crore 22 17 3 3
Grand Total 9,15,678 ₹4,621.56 Crore 256 207 52 47

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.

How is the Premium Calculated for an Old Bike Insurance?

How is the Premium Calculated for an Old Bike Insurance?

How is the Premium Calculated for an Old Bike Insurance?

The premium of any vehicle is calculated based on its IDV, past claim experience, accessories fitted, if any and other factors. For an old bike, the premium for the insurance is based on factors like:

  • The engine capacity of the bike.
  • The age of your bike.
  • The Insured’s Declared Value of the Bike.
  • The No Claim Bonus of the bike

Check: Use Bike Insurance Calculator to calculate the premium of third party or comprehensive bike insurance with add-ons.

Things to Remember While Buying Old Bike Insurance

Things to Remember While Buying Old Bike Insurance

Things to Remember While Buying Old Bike Insurance

You need to take care of a few things before buying insurance for old bike. Here’s your checklist:

  • Utility of the Bike: You may own an old bike but only you can best know how much the usage is and what is the utility of it. With every year passing, the value of the bike is depreciated. Think about the IDV and match it with the utility so that you can decide on the type of cover to buy. You should know the benefits of buying Comprehensive Insurance because in any case, Third-Party Liability insurance is a must.
  • Know about the Insurance Policies: There are more than 25 general insurance companies in India. All of them offer motor policies with different coverage limits and conditions. You should carefully visualize what your need is and know who can best offer you the solution.
  • Policy Conditions: When you have decided on an insurance company, you should read the policy conditions of the same. Somewhere there may be a clause which you may realize later like deductibles.
  • 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.
  • IDV of the Bike: 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.
  • Depreciation Value of Bike: 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.

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Depreciation Rate in Two-Wheeler Vehicles Based on Age

Age of the Vehicle Depreciation
1 year < age < 2 years 10%
2 years < age < 3 years 15%
3 years < age < 4 years 25%
4 years < age < 5 years 35%
5 years < age < 10 years 40%
10 years < age 50%

You should try and avoid small claims the amount of which you can afford. It will help you to get insurance of your old bike on a lower premium for which the Insured’s Declared Value is already low.

FAQs about Old Bike Insurance