Anti-theft Devices Impact on Bike Insurance Premium

An anti-theft device is a bike security system attached to the two-wheeler that reduces the chances of theft. It may be manual or automatic. Below is the list of the available bike security devices or anti-theft devices for two-wheelers:

• Anti-theft alarm

The anti-theft alarm for the bike is a device that rings aloud if someone tries to steal it. This bike anti-theft system helps to alert you or nearby people about the danger of theft so that it can be prevented. Usually, anti-theft alarms for bikes do not come pre-installed. But you can buy and install aftermarket alarm devices easily. This safety feature is one of the cheapest anti-theft options available but may not qualify for premium discounts.

• Vehicle tracking system

A GPS-enabled tracking system helps track the bike if it gets stolen. This device is one of the most common bike security devices and enables you to avail premium discounts. If you have a tracking system installed in your bike, ensure you do not track it yourself but inform the law enforcement agency and help them track the bike with the help of the device.

• Immobilisers

Immobiliser devices are usually manual devices attached to the bike that disable some parts of the bike from moving. They include high-security chains installed on the tyres of the bike or disc locks that prevent wheels from rolling. Another common immobiliser is a handle lock which disables the bike handles without a key insertion. While buying an immobiliser, check the quality to ensure the security of the bike.

• Disabling anti-theft system

A disabling anti-theft system for bikes helps disable the engine from starting if someone attempts to steal the bike. The device is known as a ‘Kill Switch’. An active disabling device is a security feature that you can operate remotely while a passive device activates itself after the bike has moved a certain distance.

The absence of anti-theft devices raises the possibility of bike theft. The insurance company will have to pay you the claim according to the current market value of the bike if it gets stolen. On the other hand, a bike anti-theft system decreases the chance of theft of the bike reducing the possibility of an insurance claim. So, the insurance company having an advantage in the scenario, offers discounts on premiums.

But not all anti-theft devices for bikes in India qualify for premium discounts. Usually, the insurance company offers discounts when the bike has a GPS tracking system or a disabler. Also, due to the varied sophistication of the systems, most insurance providers ask for ARAI-approved anti-theft devices. They also require the system installed by a professional to ensure it is properly functional.

The list of ARAI-approved anti-theft devices for bikes is as follows:

• TCU by Pricol Limited
• ACONITS140 by Accolade Electronics Pvt. Ltd, Pune
• ITS System TLG-1000 by Autocop India Pvt. Ltd
• VTS from Wabco India Limited
• VTS-01-021 & VTS-01-022 from KPIT Technologies Ltd, Pune

Prevents bike thefts: The device provides security to the bike from theft. Moreover, if the bike is stolen, you can track it or disable the engine.

Coverage against financial loss: If your bike is not protected with the anti-theft device, the theft possibility rises, causing a financial loss. Also, in the absence of an anti-theft system, you will have to pay higher premiums with no actual value of the bike in claim settlement.

Discounts on motor insurance premiums: An anti-theft system enables you to get discounts on premiums by the insurance company due to less possibility of a claim.

Easy claim settlement: A stolen bike with an anti-theft system makes the claim settlement process easier than a bike without any anti-theft device.

Precaution is better to avoid any trouble or loss. A bike anti-theft system gives your vehicle security from thieves but taking additional precautions is necessary. A bike is much easier to steal than a car. So, follow the simple steps apart from installing anti-theft systems on your bike:

Bike cover: The criminals usually sell the stolen bikes or their parts. So, they look for expensive and new bikes to steal. A bike cover is not an anti-theft device, but it helps reduce the chance of potential thieves approaching the bike.

Park your bike at a secure place: Some places are more prone to bike thefts. So, you must park your vehicle at a secure site. If you live in a theft-prone area, install a CCTV camera at the parking location as a precautionary measure.

Multiple anti-theft devices: The longer it takes to steal the bike, the possibility of thwarting the theft increases. So, try installing multiple anti-theft systems to make it difficult for the thief to disable them.

Buy an appropriate bike insurance policy: Despite all necessary precautions, you never know what may happen. Some criminals know how to disable an anti-theft system to steal your bike and load it into a truck. So, buy comprehensive insurance for 2-wheeler to protect your bike from possible thefts.

Now you are familiar with several anti-theft devices available and their impact on insurance premiums. To reduce insurance costs, you can compare two-wheeler insurance online on Tata AIG to see which of our offers suits you best.

We, at Tata AIG, have multiple bike insurance policies tailored according to your needs. You can buy a third-party, comprehensive, and standalone own damage insurance policy online. Moreover, for additional security for your two-wheeler, you can buy add-on covers with a comprehensive plan. So, hurry and get the right insurance for your bike with Tata AIG.

All the bike prices and other information listed above pertain to a specific city and vehicle model. Since this information is subject to change, it is advisable to check the latest information before purchasing a vehicle or an insurance policy.