Old Bike Insurance

Get a Bike Insurance quote for Old Bike

Registration Number

City

Previous policy expiry

Not Expired

Expired

Merchant Code (Optional)Agent Code {{bikeCtrl.invalidAgentCode}}

Agent Name:

State:

SP Name:

SP Code:

I agree to the Terms & Conditions

{{(bikeCtrl.isDontKnowRegNum || bikeCtrl.bikeLocalStorageValues.vehicle.isVehicleNew) ? 'I know my Registration number' : 'Don’t know Registration number?'}}

It's a brand new bike

Renew your Digit policy

+91 Enter Mobile Number

I agree to the Terms & Conditions

I know my Registration number

Continue with {{bikeCtrl.lastVisitedData.lastVisitedUrl.indexOf('DigitPaymentGateway/payments') !== -1 ? 'payment completion': 'previous choice'}}

{{bikeCtrl.lastVisitedData.vehicle.makeModel | toTitleCase}} {{bikeCtrl.lastVisitedData.vehicle.variant? (bikeCtrl.lastVisitedData.vehicle.variant|toTitleCase): (bikeCtrl.lastVisitedData.vehicleCharacteristics.vehicleType | toTitleCase)}}

{{bikeCtrl.selectedPlanDisplay[bikeCtrl.lastVisitedData.dropOffSelectedPlan? bikeCtrl.lastVisitedData.dropOffSelectedPlan: bikeCtrl.lastVisitedData.selectedPlan]}}

₹{{((bikeCtrl.lastVisitedData.dropOffSelectedPlan ? bikeCtrl.lastVisitedData.dropOffGrossPremium:bikeCtrl.lastVisitedData.chosePlan.grossPremium) .replace('INR ','')).split('.')[0] | rupeeFormatWithComma}} (Incl 18% GST)

Registration Number

City

Previous policy expiry

Not Expired

Expired

Merchant Code (Optional)Agent Code

Agent Name:

State:

SP Name:

SP Code:

I agree to the Terms & Conditions

{{(!twoWheelerCtrl.registrationNumberCardShow || twoWheelerCtrl.localStorageValues.vehicle.isVehicleNew) ? 'I know my Registration number' : 'Don’t know Registration number?'}}

It's a brand new bike

Renew your Digit policy

+91 Enter Mobile Number

I agree to the Terms & Conditions

I know my Registration number

Continue with {{twoWheelerCtrl.lastVisitedData.lastVisitedUrl.indexOf('DigitPaymentGateway/payments') !== -1 ? 'payment completion': 'previous choice'}}

{{twoWheelerCtrl.lastVisitedData.vehicle.make |toTitleCase}} {{twoWheelerCtrl.lastVisitedData.vehicle.model | toTitleCase}} {{twoWheelerCtrl.lastVisitedData.vehicle.variant? (twoWheelerCtrl.lastVisitedData.vehicle.variant |toTitleCase):''}}

₹{{((twoWheelerCtrl.lastVisitedData.quickQuoteResponse.plans[twoWheelerCtrl.lastVisitedData.selectedPlan].resposeBody.grossPremium) .replace('INR ', '')).split('.')[0] | rupeeFormatWithComma}} (Incl 18% GST)

All about Old Two Wheeler Insurance Explained

No matter how much we grow we always carry some traces from the past. Imprint deep inside our mind and heart, some valuable items do not ever leave their place. You will always have a similar feeling for the first bike you purchased. Due to your age or change of lifestyle, you might not drive your old bike, but you would never want to sell it for pennies.

Though old, but you can still get the bike insurance because someday you would want to use it. And let’s not welcome undue worries when insurance is easily available nowadays.

What is an 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. Though the depreciation in the two-wheeler starts right when you purchase it.

Buying insurance for the bike which is old and the value for which has depreciated can be referred to as old bike insurance. The insurance you choose may be a Comprehensive bike insurance or the Third-Party bike insurance.

Why it is important to Insure an Old Bike?

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

Damage through fire or any event that is beyond control
Theft
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 the bodily injury to any third-party resulting from an accident involving your bike

What to look for when Insuring the Old Bike?

You are out in the market to buy the best mobile phone. You will look for the latest technology, storage capacity, camera quality and other similar features like this. Now consider that you want your old laptop to run as new. So, what will you do? To enhance its capacity and improve its performance, you will get the latest operating system installed in it.

Similar to what we just considered, you need to look for a few things before you buy an old bike. Some of those factors which will help frame your opinion include:

# Coverage offered: There are several insurance companies in the market. You should decide on which cover would you want and then find it out. Insurance is now made easy with the online facility. It is convenient to compare quotes and offers. Choose the best when you have the whole world to explore.

# Insured’s Declared Value: You should always know what is the IDV of your bike for the current policy year. Also, understand the premium you pay for the insurance.

# 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.

Things to remember while Insuring an Old Bike

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

# The utility of the bike: You may own an old bike but only you can best know how much is the usage 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 is your need and know who can best offer you the solution.

# Ask for the comparison: 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.

# The IDV of the two-wheeler: 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: So 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.

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%

# 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.

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:

Buy/Renew Old Bike Insurance in 4 simple steps

Step 1 - Go to Bike Insurance page, Fill your Vehicle’s Make, Model, Variant, Registration Date. Press ‘Get Quote’ and choose your choice of Plan.

Step 2 - Choose between a Third-Party Liability Only or a Standard Package (Comprehensive Insurance).

Step 3 - Give us details about your previous insurance policy- Date of expiry, Claim made in the last year, No Claim Bonus earned.

Step 4 - You will get quote for your premium. If you have chosen a Standard Plan you can customize it further by selecting add-on’s, setting the IDV. You will see the final premium on the next page.

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: