Bike Theft Insurance

Two-wheelers can be easy targets for thieves since these vehicles are relatively easy to move without having a key. However, with adequate insurance, you will have financial support in case of such an unfortunate event. Read ahead to know about bike theft insurance and how it can be beneficial for you.

Bike theft insurance is an insurance plan that provides financial protection to you if your two-wheeler is stolen. But the coverage is applicable only if you have a Comprehensive Policy. Without this wide-ranging policy, you are on your own to bear the cost of a replacement bike. With the policy, your bike theft claim is settled based on the Insured Declared Value (IDV) (the approximate market value of the two-wheeler) minus deductibles and depreciation.

Therefore, if you’re yet to purchase Comprehensive Bike Insurance, then scroll up to the top of the page, provide a few details about your bike or scooter, and make the payment to insure it instantly.

You can register your bike theft claim through our online platforms, such as our website or mobile app. Online bike insurance offers ease of registering a claim against your bike theft insurance.

✅ Step 1: Log in to ACKO your account through our mobile app or website.

✅ Step 2: Choose your two-wheeler policy and select the “Claim” option.

✅ Step 3: Answer a few questions about the theft of your bike and submit the required documents to raise your claim.

Comprehensive Two-wheeler Insurance has wide-ranging benefits. Apart from covering you for third-party liabilities (it includes the Third-party Liability Cover), it also covers damages or losses to your bike. One of the significant coverages of Comprehensive Insurance is bike theft. So, if your insured bike is stolen and is untraceable by the police, only this type of bike insurance plan shall provide compensation for the same. Apart from bike theft, it also covers the below mentioned damages or losses to your insured bike.

• Accidental damages

• Natural or manmade calamities (Floods, cyclones, riots, vandalism, etc.)

• Fire-related damages

• Total loss (damages that are beyond repair)

• Third-party liabilities (injuries, death or damages to their property or vehicle)

Here are some key points that you need to keep in mind about bike theft insurance.

• Inform the local police station and your insurer about the theft of your vehicle.

• Only Comprehensive Insurance can provide financial protection against bike theft.

• You have to pay the required deductible during the claim settlement process.

• To prevent theft, ensure you lock your two-wheeler at all times, park your bike in a safe place, and consider installing an anti-theft device or a burglar alarm.