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Top Ways to Save Money on Bike Insurance Renewal

Team AckoJan 17, 2024

Buying the best insurance coverage for your bike does not mean that you need to burn a hole in your pocket. A feature-rich policy can be bought at affordable rates as well.


Here are ways in which you can buy a budget-friendly insurance policy for your two-wheeler:



Ways to Save Money on Bike Insurance Renewal


Usually, 2 wheeler insurance is active for one year i.e. the policy period of your bike insurance policy is one year. A lot can change within this time. You could move to a new place, get married or switch your job. This could mean that your requirements for your bike insurance policies can change. For example, you might be frequently riding with a friend when you first bought the policy and you bought respective insurance coverage keeping your friend in mind. But, nowadays you ride alone as that friend bought himself a new bike. Such things should reflect in your policy at the time of bike insurance renewal so that you can save money by not buying extra coverage.

Ride Safe

To ensure safety for yourself and for those around you, always ride safely. Do not get involved in dangerous activities that could injure you or damage your bike. This will lead to a claim for getting your bike repaired. Consequently, you could lose the No Claim Bonus and the bike insurance quote would increase at the time of bike insurance renewal.

Policy type

Buying a Third-party Liability policy is mandatory by law and this is the most basic type of 2 wheeler insurance. It does not cover the cost of repairing damages caused to your bike. Thus, always choose a coverage which will cover your bike as well i.e. buy bike comprehensive insurance Policy. It will help you save a lot of money at the time of claim.

Avoid Buying Extra Add-ons

Buying Add-ons coverage, as per your requirements, will always be helpful during unfortunate events. But, be sure to not buy coverages that you do not need. Continuing with the above example – Since your friend bought a new bike, you do not need the Pillion Rider Add-on anymore. Make sure to remove extra Add-ons when you don’t need them. It will reduce the bike insurance quote at renewal.

Increase the Tenure of Your Policy

As mentioned earlier, usually a bike insurance policy is active for one year, however, bike insurance policies active for a longer duration are also available. Buying a 3-year bike insurance policy will save you the hassle or frequent renewals. Also, they are slightly cheaper than policies active for one year.

Also, read: Third Party Bike Insurance

Install Anti-theft Devices

Installing an anti-theft device in your bike will secure it from being stolen. This also means that you have taken measures against raising a theft claim on your bike insurance policy. Insurance companies appreciate this behavior and may give a discount on the premium. If applicable, make sure that you declare the installation of an anti-theft device to your bike at the time of renewal.


Bike insurance policies come at a discounted rate for the members of Automobile Associations of India. Consider getting a membership of one of these associations if you are looking for a discount on your bike insurance premium.


A deductible is a contribution you pay at the time of claim, the major part will be paid by your insurance company. Every Comprehensive Insurance policyholder needs to pay a compulsory deductible amount. However, one can also opt for a voluntary deductible where he/she chooses to pay more than the mandatory deductible. This decreases the premium amount but it also decreases the claim amount paid by your insurer. Choose the right amount of deductible at the time of renewal.

Avoid Expensive Modifications

Modifications are extra accessories which are not a part of the bike at the time of purchase. If   you modify your bike, you may want to insure the newly added parts along with the bike. This will increase your bike insurance cost.

Renew in time

Renewing a bike insurance policy in time will ensure that there is no break between the active policy periods of old and new policies. In case of a break of more than 30 days, your insurer might want to inspect your bike before issuing the new policy. The number of days depend on the insurer’s terms and conditions. If this gap is more than 90 days you will lose all your No Claim Bonus and the cost of your policy will increase.

Disclaimer: The content on this page is generic and shared only for informational and explanatory purposes. It is based on industry experience and several secondary sources on the internet; and is subject to changes. Please go through the applicable policy wordings for updated ACKO-centric content and before making any insurance-related decisions. Related Articles:


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