Finding the right insurance for your bike, which offers the necessary coverage without being heavy in the pocket, is a mammoth task, indeed. The struggle to fix upon the right policy is even more if you are insuring your bike for the first time. But there are a few ways which can help you to influence the cost of your vehicle. But before that, you need to learn the factors that are likely to raise the cost of your premium:

  1. Newer and more expensive bikes will be costlier to insure.
  2. Bikes with larger engines will result in more significant premium.
  3. Sports bikes are considered to be at high-risk, and so they would cost more to insure.
  4. The bikes with lots of chrome result in a higher premium.

So, keeping in mind these few factors, the possible ways to cut down the cost of your bike insurance are listed below:

  1. Go for a Less Expensive Bike

IDV (Insured Declare value) is known to impact the insurance cost on a large scale. So, you must avoid buying costlier bike as more expensive the bike is, the more is the IDV and hence higher will be the premium. The best workaround solution to this goes for a less expensive bike.

  1. Avoid Extensive Modifications on Your Bike

Modifications make your bike aesthetically appealing and attract the attention of the onlookers. However, you must understand that the more you modify your bike, the higher is your premium cost and also you would require endorsement and other paper work to get your modification registered in RC as well as Insurance. Another drawback of overly modifying the bike is that the repairing and the replacement cost of bike parts increase.

  1. No Claim Bonus (NCB)

No Claim Bonus too has a considerable impact on the cost of Two Wheeler Insurance. You can accumulate NCB over the years, and the discount applicable depends on different factors listed below:

All Types of Vehicles % of Discount on OD* premium
No claims have been made or are pending at the end of the year or at the time of policy renewal 20%
No claims have been made or are pending at the end of the year or at the time of policy renewal 25%
No claims have been made or are pending at the end of the year or at the time of policy renewal 35%
No claims have been made or are pending at the end of the year or at the time of policy renewal 45%
No claims have been made or are pending at the end of the year or at the time of policy renewal 50%

*OD= Own Damage

Also, if a customer changes his bike, then also he’s applicable for NCB as it can be easily transferred to his new vehicle.

  1. Improve Your Bike’s Security and Park It in a Secure Area.

Ensure that your bike is fitted with an electronic alarm and immobiliser to secure your bike. The anti-theft tool will undoubtedly influence the cost of your insurance. Also, park your bike in a safe area, like in a garage, if you want to keep it overnight and off the road in the driveway for a couple of hours.

  1. Choose Add-on covers wisely

There is usually two standard coverage (third party and the comprehensive coverage) options available to two-wheeler users in India that cover almost all the possible aspects. However, there are times when an unexpected expense crops up, and the owner has to pay a hefty sum despite having an insurance policy.

To avoid such costs, two-wheeler owners can opt and purchase add-on covers based on their requirement. Check out some of the most popular add-on covers available in India:

  • Zero Depreciation Cover: This cover extends from 0 to 40% based on the age of the two-wheeler.  You can check out some of the most popular add-on covers available below:
Age of the Vehicle Rate of Depreciation Applicable
Less than 6 months No Depreciation
Above 6 months but less than 1 year 5%
Above 1 year but less than 2 years 10%
Above 2 years but less than 3 years 15%
Above 3 years but less than 4 years 25%
Above 4 years but less than 5 years 35%
Above 5 years but less than 10 year 40%
More than 10 years 50%
  • Personal Accident cover for pillion: This cover ensures the safety of the pillion riders in case of an accident. This cover provides insurance in the case when pillion rider is no more or suffers from permanent disability while riding an insured vehicle.


  • Accessories cover: In case two-wheeler owner adds any particular electrical or non-electrical accessory to his vehicle and buys this add-on coverage, then the insurance company pays for any expense incurred in the replacement or repairing of these parts.


  • Round The Clock Assistance: It provides 24*7 two-wheeler assistance to the insured in case the vehicle breaks down in the middle of the road or suffers a mechanical failure. This cover offers different services like towing facility, accommodation facility or any other emergency assistance if need be.


  1. Compare and Buy Online

Before you purchase bike insurance in haste, you must compare the price and features of different insurers online at RenewBuy. With a thorough online research and fair comparison at the online portal, you get a fair idea of what different insurers are offering allowing you to make an informed decision based on your budget and requirements.

Besides the above six ways, do shop around for your policy a little bit and subsequently, don’t forget to get your vehicle insured.

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