Two Wheeler Insurance FAQ

  • All Your Question Answered
  • Prerequisites Documents for Claim
  • Claim for Stolen Vehicle

Bike Insurance FAQs


What are the prerequisite documents necessary for a Two-wheeler Insurance claim?

Though they are talked about in policy, this is just a handy list for your convenience:

  • Claim form appropriately filled (before submitting do a Xerox and keep)
  • Photocopy of the vehicle RC along with the original for verification
  • Authentic approximation of loss (Make an extra copy and file it)
  • Payment receipts and repair bills (always keep a photocopy with you)

How do we claim insurance if the vehicle is stolen?

First of all, file a FIR with your local police station or the police station nearest to you (if you are travelling). Submit the photocopy of the FIR and the documents mentioned above, the bike keys and a non-traceable certificate to your insurance company.

  • You can always claim the full IDV amount in case your bike is stolen.
  • Another good news is that natural calamities and man-made disasters are covered too.

What all documents you need for buying new bike insurance?

Getting a new insurance policy for your old bike is a child’s play. Things you need are:

  • Earlier insurance copy
  • Registration certificate

How does RenewBuy help in deciding the premium for your new two-wheeler?

RenewBuy shows you various insurance premiums provided by companies based on the numerous factors you input which determine your new two-wheeler’s premium

  • The IDV (Insured Declared Value)
  • The age of the bike (If your bike is a used one)
  • Zone of Registration
  • The two-wheeler’s cubic capacity (for third-party insurance)
  • Previous year Claim Status & NCB

What if the insurance policy expires?

  • It is mandatory to do insurance for your bike in India; hence it is suggested to renew before it expires.
  • If not done within 90 days, you lose on your No Claim Bonus, leading to a substantial financial loss.
  • If not done on time then your bike will go through a new inspection, which may be chargeable.

Is third-party insurance mandatory?

Yes, it is. You are legally and financially liable to the third party in case there is an accident. Point to remember; this does not take care of any injuries or damages to you and your bike.


What is Voluntary Compulsory Deductible (VCD)?

IRDA predetermines it. Remember, higher the VCD lower will be the premium. However, this is the loss you will incur when there is a claim.


How to zero down on Insurance with third party liability?

Use a top premium calculator like one found on RenewBuy page, which helps you to choose a comprehensive plan. This plan can be a little expensive but will protect your bike and is any day better than the one with third party liabilities.


Can bike insurance be cancelled?

No bike insurance policy can’t be cancelled until or unless there is a genuine case and is intimated within 1 month from the date of purchase of the policy. Genuine cases can be when you end up buying 2 policies for the same vehicle or your vehicle was commercial and you bought private vehicle policy etc. However, there are no cancellation charges.


Is the pillion driver covered in a comprehensive two-wheeler insurance policy?

Sad but the truth is “No”. One needs to get a personal accident cover for the pillion driver.


Does RenewBuy help in getting additional benefits while buying bike insurance?

At RenewBuy add-on covers and personal accident cover for pillion riders are additionally available with various insurance companies while buying bike insurance. Though one might need a wee bit of extra premium; it is worth every rupee and highly recommended.