Bike Insurance Premium Chart 2026 (IRDAI Fixed Rates)
Third party bike insurance rates are fixed by IRDAI — every insurer charges the same for TP coverage. Own damage rates vary by insurer.
| Engine Capacity | TP Premium/Year | Example Bikes |
|---|---|---|
| Up to 75cc | ₹538 | Hero Dawn, TVS XL |
| 75cc – 150cc | ₹714 | Honda Activa, Hero Splendor, Bajaj Pulsar 125 |
| 150cc – 350cc | ₹1,366 | Bajaj Pulsar 150/200, KTM Duke 200, Royal Enfield Classic 350 |
| Above 350cc | ₹2,804 | KTM Duke 390, Royal Enfield 650, Harley Davidson |
💡 Comprehensive = TP + Own Damage
For most bikes under 7 years old, comprehensive insurance costs ₹1,500–₹4,000/year total — just ₹500–₹1,500 more than TP alone. The extra protection is almost always worth it.
Top 7 Bike Insurance Plans in India 2026
🥇 Best Overall 2026
Digit Insurance
Claim Settlement Ratio: 96.0% | 6,900+ Garages
₹714/year
Comprehensive from ₹1,468/yr
Highest CSR in IndiaSelf-video inspection7-day claim settlementBest app
Digit leads India in claim settlement ratio at 96% — meaning they settle 96 out of every 100 claims. Their self-inspection via video call is the fastest in the industry. Zero paperwork, completely digital.
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🥈 Best for Trust
Bajaj Allianz
Claim Settlement Ratio: 91.3% | 4,000+ Garages
₹714/year
Comprehensive from ₹1,500/yr
Best add-ons24x7 roadside assistKey replacement
Bajaj Allianz is one of the most trusted names in India. Best range of add-ons including consumables cover and key replacement. Ideal for premium bikes where repair costs are high.
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🥉 Best Network
HDFC ERGO
Claim Settlement Ratio: 92.5% | 6,800+ Garages
₹714/year
Comprehensive from ₹1,600/yr
Largest garage networkHDFC Group trustInstant claims
HDFC ERGO has India's largest cashless garage network. If you travel frequently or live in a smaller city, their wide coverage means you're never far from a cashless garage.
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Acko Insurance
Claim Settlement Ratio: 88.0% | Doorstep Pickup
₹714/year
Comprehensive from ₹1,380/yr
100% digitalDoorstep pickupBest UI
Acko is India's most digital-first insurer. Completely paperless, doorstep pickup for repairs, and the cleanest app experience. Best for tech-savvy young riders who want everything on their phone.
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ICICI Lombard
Claim Settlement Ratio: 90.8% | 5,600+ Garages
₹714/year
Comprehensive from ₹1,550/yr
Best urban coverageInstant small claimsGood app
ICICI Lombard is the go-to for urban daily commuters. Instant claim approval for amounts under ₹20,000 makes it perfect for frequent minor repairs.
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Must-Have Add-ons for Bike Insurance
- Zero Depreciation — Get full replacement cost on parts. Essential for bikes under 5 years old. Costs ₹200-400 extra per year.
- Engine Protection — Covers engine damage from waterlogging. Critical in flood-prone cities. Costs ₹150-300 extra per year.
- Roadside Assistance — Towing, emergency fuel, flat tyre. Costs ₹100-200/year. Worth it for long-distance riders.
- Personal Accident Cover — Covers rider injuries/death. IRDAI mandates ₹15 lakh PA cover — verify this is included.
- Pillion Rider Cover — Covers injuries to your pillion passenger. Often not included by default.
⭐ Best Combination for Most Riders
Comprehensive + Zero Dep + Engine Protection. Total extra cost: ₹350-700/year. Can save ₹15,000-40,000 in a single claim.
5 Tips to Get the Cheapest Bike Insurance
- Compare online — Online premiums are 10-15% cheaper than offline/agent rates.
- Never let policy lapse — Losing NCB costs you up to 50% more premium every year.
- Set correct IDV — Don't set IDV too low to save premium — it reduces your claim payout.
- Bundle add-ons smartly — Only add what you actually need. Roadside assist matters for highway riders, not city commuters.
- Check CSR before buying — A ₹200 saving on premium isn't worth it if the insurer rejects your claim.
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Frequently Asked Questions
Is bike insurance mandatory in India? ▾
Yes. Third party bike insurance is mandatory under the Motor Vehicles Act 1988. Riding without it can result in a ₹2,000 fine and up to 3 months imprisonment.
What is the cheapest bike insurance in India? ▾
Third party insurance starts from ₹538/year for bikes under 75cc and ₹714/year for 75-150cc bikes — rates fixed by IRDAI. For comprehensive insurance, Digit and Acko typically offer the most competitive premiums.
Does bike insurance cover theft? ▾
Only comprehensive insurance covers theft. Third party insurance does not. If your bike is stolen and you only have TP insurance, you receive nothing from the insurer.
Can I transfer my bike insurance to a new owner? ▾
Yes. When you sell your bike, the insurance can be transferred to the new owner by contacting the insurer within 14 days of sale. The NCB however stays with the original owner and cannot be transferred.