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Home / Two-wheeler Insurance / New Bike Insurance
We offer bike insurance for just about any two-wheelers, even for a bike that is yet to be registered at the Regional Transport Office (RTO). You can purchase brand new bike insurance online from ACKO without any hassles. You save costs, get access to holistic coverage and enjoy a hassle-free experience during your purchase journey with us.
What is brand new bike insurance?
Brand new two-wheeler insurance is a contract between the bike owner and the insurer (ACKO). It’s similar to regular bike insurance. Here, ACKO provides financial protection against damage/loss to the bike in exchange for a premium. So, instead of insuring your brand new bike/scooter through the bike dealership, you can buy new two-wheeler insurance online easily via ACKO at a low premium.
How to buy two-wheeler insurance for new bikes online?
You can buy two-wheeler insurance for new bikes via both online and offline methods. ACKO’s online process allows you to buy, renew the policy or submit a claim in a few clicks from the comfort of your home. You can scroll up on this page to the new bike insurance widget and initiate the below steps.
Step 1: Enter your bike model and purchase year.’
Step 2: Click on ‘View Prices.’
Step 3: You can select either the Third-party Insurance Plan (5 years) or Bundled plan (Third-party Insurance for 5 years + Own Damage cover for 1 year).
Step 4: Enter your personal details and choose when the policy should be active.
Step 5: Review the selected plan, and pay the premium online.
Step 6: Download the policy document.
Please note, it is mandatory to buy the Personal Accident (PA) cover while buying or renewing your bike insurance plan. The plan provides financial coverage for you against disability or death in the event of an accident. However, if you already have a PA cover, you need not buy it again.
Type of new two-wheeler insurance plans in India
Our new bike insurance policies offer coverage for various types of two-wheelers such as scooters, motorcycles, electric bikes/scooters, mopeds and more.
Third-party Bike Insurance Plan
A Third-party Two-wheeler Insurance policy for brand new bikes is mandatory in India. It provides financial protection in case you accidentally damage a third party’s vehicle or property or injure someone else in an accident. However, it does not provide coverage against damages/losses to your bike.
Comprehensive Bike Insurance Plan
The Comprehensive Bike Insurance plan for brand new bikes covers third-party liabilities and damages/losses incurred by your new bike. Damages or losses incurred due to natural calamities (cyclones, floods, earthquakes, etc.), man-made calamities (riots, vandalism, etc.), accidents, fire and vehicle theft are covered under this plan.
Personal Accident (PA) Cover
In addition to the coverage for your bike, the PA cover is the additional and mandatory coverage you need to purchase while insuring your new two-wheeler. The PA cover is mandatory as per law in India. The cover provides financial coverage in case of disability or demise of the policyholder in a vehicle accident.
Benefits of buying new bike insurance at ACKO
Low-cost insurance plans, instant policy purchase with no paperwork, and hassle-free claims make it compelling to buy new 2 wheeler insurance for brand new bikes from ACKO.
Low-cost insurance plans
Since we follow a direct-to-customer model, there are no agents; hence, our new bike insurance prices are incredibly low.
Quick and easy procedures
With 100% digital transactions, buying bike insurance for brand new bikes is fast and hassle-free. You can also renew the plan from anywhere.
Zero hassle claims
Log in to your account through our website or mobile app and choose “Claim” to register your claim. Minor damage claims will be settled within a few hours. For major claims, our support team will help you with the process.
Why choose ACKO for new bike insurance?
Zero paperwork
ACKO is a new-age digital insurance company where transactions are entirely through the online method. The digital infrastructure lets you buy new bike insurance online without tedious paperwork or form filling exercise.
Easy claims
You get to raise your claim online and experience a stress-free journey. ACKO’s 24x7 claim submission process does not require you to submit physical documentation. Visit our website or mobile app to make a claim with a few clicks.
Low-cost insurance plans
We operate on a direct-to-customer model and digitised purchase journey. With no commissions, you have to pay a lower premium.
New bike insurance cost
The cost of vehicle insurance is based on a few factors. These include the Insured Declared Value (IDV) or the ex-showroom price of the new bike, location and the year of manufacture. In the case of a brand new two-wheeler, the insurance charges for a new bike is based on the IDV, location and year of manufacture.
Whether to go for dealer-provided insurance or buy from outside
There are a few ways in which you can buy bike insurance and one of the most popular ones is buying the policy from the bike dealer. Most people opt for this method because of the following reasons.
Time constraint
Many bike owners assign the task of buying insurance to their dealer as they might not have a lot of time to invest in the process.
Lack of insurance knowledge
Some people perceive insurance as complicated. This is mainly due to the technical language used on bike insurance documents.
Bike owners trust dealers
Bike dealers build a good relationship with bike owners and help them at various stages of buying their bikes. The bike owner trusts their dealers to provide help with finding the best bike insurance policy.
Due to these reasons, owners allow their bike dealers to select the bike insurance coverage on their behalf. However, this can be counterproductive as the bike owner must be aware of every aspect of the insurance policy.
The process involved in insuring new bike by yourself
Let’s look at how you (a bike owner) can buy the bike insurance plan by yourself.
The easiest way of buying bike insurance is selecting a digital-first bike insurance company, like ACKO, to insure the bike. Here are the steps to buy the policy yourself.
Step 1: Go to ACKO’s website www.acko.com or download the mobile app to create a profile. All you have to do is log in by entering your mobile number and verifying it with the One Time Password (OTP).
Step 2: Go to bike insurance and click on ‘Get a quote'. Now search for the bike model you want to insure and select the year of manufacturing. Finally, click on 'View Prices' and enter all the necessary details.
Step 3: Select the required coverage, review the plan, and make payment.
Your bike insurance policy will be sent to your registered email address within a few minutes. You can download and get the document printed as required.
Benefits of choosing an online insurance provider over a dealer-provided insurer
Here is a list of benefits of buying your bike insurance policy online instead of buying it from the bike dealer.
Lower premium
Online bike insurance policies are cheaper than offline policies. You pay less money in exchange for probably the same coverage.
Better coverage
Sometimes a bike dealer may suggest buying bike insurance coverage that you may not actually require. For example, add-ons. When you buy the policy yourself, you may skip buying additional coverages but your dealer may insist you opt for add-ons. This will unnecessarily increase the cost of your insurance plan.
Informed decision
Buying bike insurance by yourself allows you to make an informed choice about the coverages. Additionally, you also ensure that you are aware of exclusions of the policy. Doing so helps avoid claim rejection. Hence, buying the bike insurance policy by yourself helps reduce the risk when it comes to being aware of what you have signed up for.
Things to remember while insuring a new bike
Here are a few essential points to keep in mind while purchasing new bike insurance whether you are a first-time bike insurance buyer or considering switching to a new insurer.
Understand your needs: Before you buy new bike insurance, you must gauge your needs. You should compare different types of new bike insurance quotes and the services they offer before you settle on the right plan for your new bike.
Choose the right insurance plan: Buying Third-party bike insurance for your new vehicle is mandatory; however, it does not cover damages/losses to your bike. Opting for the Comprehensive bike insurance for your brand new two-wheeler offers exhaustive coverage for your bike.
Opt for the right insurer: Your buying experience should be stress-free and easy. Opt to buy two-wheeler insurance for your new bike through digital insurers such as ACKO since the process is quick and paperless. Plus, you get access to affordable insurance plans.
Select the appropriate IDV: The IDV is the approximate market value of the vehicle. Ensure you choose the right amount of IDV since that’s the amount that you receive in case of a claim.
Add valuable add-on covers: You can enhance the base (Comprehensive Insurance) plan by including valuable add-ons. You can choose from Zero Depreciation Cover, Personal Belongings - Damage/Theft Cover, Engine Protect Cover, etc. basis your requirements.
Frequently asked questions
Here are answers to some of the common questions about new bike insurance.
What’s not covered (exclusions) in ACKO’s new bike insurance?
Some things are not covered under the ACKO’s bike insurance plan for new bikes.
Accidental damages while riding the bike in an intoxicated state.
Any claims against damage or loss when your bike insurance policy is inactive.
Cost of repair/replacement of parts that are damaged due to regular wear and tear.
Accidental damages to your bike arising due to war or similar situations.
Any claims against an incident where you were riding the bike without a valid Driving Licence (DL).
Claims related to damages to the bike incurred outside the specified geographical area.
Claims arising from damages incurred while using the bike for illegal purposes.
Any other incidents not mentioned in the policy inclusions.
Is online bike insurance by ACKO for brand new bikes trustworthy?
ACKO General Insurance Company is licensed by the Insurance Regulatory and Development Authority of India (IRDAI); hence, it is completely safe to buy two-wheeler insurance for new bikes from us.
How does ACKO provide affordable bike insurance plans for new bikes/scooters?
We have digitised the process of buying, renewing, and raising claims. We follow a direct-to-customer model. Hence, we do not have agents or middlemen. The cost that we save by not paying commissions, and being completely digital enables us to design low-cost bike insurance plans for brand new bikes.
Is the soft copy of the bike insurance policy for new bikes valid in India?
Yes, soft or digital copies of your bike insurance policy stored in the DigiLocker app is valid in India. You can ride your brand new bike without a physical document of the insurance policy in India.
