Complete guide to finding the best bike insurance quotes

For some riders, a bike ride can mean an adventure. While for some, it can mean just another chore. Whether you find bike rides thrilling or consider them mundane, you need to insure your two-wheeler in India before riding it on public roads. Here’s where a bike insurance quote becomes critical. The quote you choose has a direct impact on your bike insurance journey. Thus, you must be aware of its nuances. Read ahead for a complete guide to finding the best bike insurance quotes in India.

What is a bike insurance quote?

A bike insurance quote is an amount stated by the insurer (for example, ACKO) to insure your bike. In other words, it is the amount the insurer is asking you to pay to issue a bike insurance policy. You can customise this quote depending upon the type of policy chosen by you.

Quote for a Third-party Liability Policy

The bike insurance rates for the law-mandated Third-party Liability Policy are dependent upon the bike engine’s cubic capacity. The insurers have no say in the bike insurance quotes as the rates are specified by the Insurance Regulatory and Development Authority of India (IRDAI). Thus, you cannot customise a bike insurance quote for such a basic policy.

Quote for a Comprehensive Bike Insurance Policy

Unlike the law-mandated policy, you have the power to customise your bike insurance quote in the case of a Comprehensive Policy. You can modify the Insured Declared Value (IDV) of your bike and choose add-on covers (if available) to customise your bike insurance policy and the corresponding quote.

Where to find a bike insurance quote?

There are different avenues to find bike insurance quotes. Here’s an overview of the most popular methods of finding a bike insurance quote.

1. Quote via bike dealer

Usually, a bike dealer or the showroom from where you purchase a bike has tie-ups with an insurance provider. You can get a quote from there. However, you might not be able to buy a policy of your choice from your preferred insurer, as such policies are usually standardised.

2. Quote via insurer’s branch office

If you prefer the non-digital way of buying bike insurance, then you can visit an insurer’s branch office and request a quote. The drawback with this is that it’s time-consuming.

3. Quote via a middleman

Certified middlemen might also offer you bike insurance quotes. The point to note is that, where there’s a middleman, there’s a commission. This can hike your final payable premium.

4. Quote via online aggregators

If you prefer buying bike insurance online, you can visit an online aggregator’s website and check out bike insurance quotes from different insurers. The downside to this can be that all aggregators might not display quotes from all insurers. And you are not buying the policy directly from the insurer.

5. Quote via the insurer

You can shortlist a few insurers based on their brand, reviews, etc., and then check their bike insurance quotes. All you need to do is visit the insurer’s website/app and check the quote. For example, you can get free bike insurance quotes via ACKO’s website/app.

Advantages of quotes from the insurer

Approaching the insurer directly can be the best way to find a bike insurance quote, as it overcomes the drawbacks of other options stated above. Here are the advantages of approaching the insurer for quotes.

• You can buy a policy of your choice and customise it.

• You can save time as you can check the quote within minutes from your smartphone.

• You can save money on the insurance premium as there’s no commission involved.

• You are buying the policy directly from the insurer at a low premium.

How to check a bike insurance quote directly from the insurer

Different insurers might have different ways of offering bike insurance quotes. Here’s how you can check out a free two-wheeler insurance quote for a Comprehensive Policy via ACKO’s website. The process is similar for the ACKO app as well.

Step 1: Visit ACKO’swebsite and click on the bike icon.

Step 2: Enter your bike’s registration number.

Step 3: Answer a few questions.

Step 4: View quotes as per different plans.

Step 5: Modify IDV (optional) and view the updated quote.

If you are comfortable with the quote, you can simply continue with the purchase journey and insure your bike in just a few clicks.

Things to keep in mind while checking a bike insurance quote

Here’s a list of things you need to keep in mind while checking a bike insurance quote.

• Make sure you are on the official website of the insurer.

• Double-check your bike’s registration number.

• Be truthful while sharing the information and answering the questions.

• Select the type of cover and add-ons (if available) judiciously.

• Ensure you have a Personal Accident Cover; if not, then include it as it is mandatory.

Key takeaways

Here are the points that you can consider as takeaways from this article.

• Bike insurance quotes depend upon the type of policy chosen.

• The best way to find bike insurance quotes is via the insurer’s website/app.

• Usually, bike insurance quotes are offered free of cost.

• Make sure you share true information while checking the bike insurance quote.

• You can check a quote and insure your bike within minutes via the ACKO website/app.

Frequently Asked Questions (FAQs)

Here’s a list of common queries concerning bike insurance quotes?

Can I check bike insurance quotes multiple times for free, or are they chargeable if I repeat the request?

You can check bike insurance quotes multiple times for free via ACKO’s platforms.

Can I check the bike insurance quote upon policy renewal as well?

Yes, bike insurance quotes can be checked before purchasing the policy for the first time as well as during renewals.

Should I opt for the cheapest bike insurance quote?

The bike insurance premium is an important factor but not the only factor when it comes to insuring your bike with a wide-ranging insurance policy. Maintain a balance between the insurance premium, features of the policy, and the associated services offered by the insurer while finalising a bike insurance quote.

Is the bike insurance calculator page the only way to get a bike insurance quote?

Insurers might have a dedicated bike insurance calculator page to help with the quote. However, that’s not the only way to get a quote. You can get a quote via the website’s insurance purchase journey as well. You can even call the insurer and ask for a quote or write an email expressing your interest in insuring a particular bike model.

Is NCB calculated while checking the bike insurance quote for a new bike?

NCB is a No Claim Bonus or a renewal bonus offered to those who have not raised a claim during their previous policy period and are looking to renew their policy. As it is a renewal discount, NCB is not applicable while insuring a new bike for the first time.

Will the bike insurance quotes remain the same for a bike model if I check it again after a few months?

There can be a variance between the bike insurance quotes for the same bike if you check them after a few months. This can be due to regulatory changes, a change in the insurer’s underwriting process, some discounts during the festive period, etc.

Explore More:

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• Bike insurance background checks in India

• What questions do two-wheeler insurance companies ask and why

• Ins and outs of financially protecting your bike