Return to Invoice Cover

  • Author :
  • TATA AIG Team
  • Last Updated On :
  • 23/08/2023

Bike aficionados like to ensure that they have gone the extra mile to protect their bikes and comprehensive two-wheeler insurance is the first promise of protection. However, to avail of the benefits that your insurance policy for bike offers (be it during a new purchase or at the time of bike insurance renewal), it is important to first be aware of them.

Return to Invoice Add-on Cover

Comprehensive insurance for bikes covers the loss or damage to your vehicle as well as third-party liabilities. Additionally, comprehensive insurance for the bike also protects the insured two-wheeler against additional risks such as theft. However, in such a scenario, while the policyholder is paid the sum assured, this amount is subject to depreciation.

If the insurer wishes to receive the maximum insurance pay-out for their two-wheeler, they need an Invoice Protection Cover along with their basic policy.

What is the Return to Invoice Cover?

The probability of bike theft is greater when compared to that of a car because it is easier to hide and dismantle a bike. Your bike insurance cover will pay you the sum assured considering the Insured Declared Value (IDV) and factoring in the depreciation costs. This means that the money you may have saved by purchasing online insurance for your bike will get lost in your bike’s depreciation value.

However, an invoice protection cover prevents this from happening. It helps you claim the ex-showroom price along with any additional expenses in case of a total loss, i.e., theft or the total damage to your bike. It reimburses the gap between IDV and the additional charges paid at the time of purchase, such as cost of registration, road tax, etc.

To put it simply, in the unfortunate event that your bike is stolen, usually, the insurance company only pays the IDV under a comprehensive bike insurance policy. However, with an Invoice Protection Cover, the policyholder can claim the total ex-showroom price, along with the additional charges.

How Does the Return to Invoice Cover Help?

The IDV refers to the maximum amount your insurer will pay if your bike is damaged beyond repair or is stolen. It is the depreciated amount of the ex-showroom price, excluding the registration and on-road charges. For ease of understanding, the table below represents how the IDV relies on the ex-showroom price of your two-wheeler and its age:

What are the Benefits of an Invoice Protection Cover?

We would all like to maximise the benefits of insurance for a two-wheeler, especially as it promises protection during unfortunate scenarios. With an invoice protection cover, we can optimise the pay-out for the insurance policy for the bike by claiming for additional expenses incurred and not just the IDV. The benefits of an invoice protection cover along with the basic bike insurance include:

If the bike gets stolen, with an invoice protection cover, the policyholder can claim the total ex-showroom price, along with the registration charges, and taxes instead of just the IDV.

Apart from theft, this cover also extends to cover losses incurred if your bike is damaged beyond repair. It extends the scope of your coverage and allows you to customise your insurance for a two-wheeler to cover additional expenses over and above the basic policy.

It is especially beneficial for new bikes as it provides the rider with peace of mind and helps them enhance their care.

Do You Need an Invoice Protection Cover?

The invoice protection cover can prove to be particularly beneficial for individuals who:

  • Have newly purchased a bike
  • Live in an area where news of theft is common
  • Do not have a secured parking space
  • Own a bike that is not more than 3 years old and
  • Are bike aficionados

Bike Insurance by Tata AIG

Tata AIG bike insurance comes with the choice of seven rider options to enable personalisation of the insurance for the bike. Tata AIG bike insurance with Return to Invoice Cover promises to reimburse the policyholder with the difference between the sum assured and the invoice value of the bike. This is applicable if the insured two-wheeler is a total loss or constructive total loss or stolen. Prioritising customer needs, Tata AIG has easy insurance policies to encourage buying online insurance for bikes. Even the bike insurance renewal can be done online with a simple three-step process through Tata AIG.

To conclude

Return to invoice is a beneficial add-on to your basic insurance policy as it extends the scope of your coverage to provide additional protection in case of total loss or constructive total loss or in case of theft. While it comes with an additional premium, this cost is negligible in comparison to the sum assured that the return to invoice offers in the hour of need.


To summarise the article, we have collated the common concerns about bike insurance and return to invoice cover:

Is theft covered in bike insurance?

Yes. Your comprehensive insurance for the bike does cover theft under the policy terms. However, the sum assured is subject to depreciation.

What is Invoice Protection Cover?

Invoice protection or return to invoice cover helps you claim the ex-showroom price along with any additional expenses, including registration charges and taxes that are not paid under a basic comprehensive bike insurance policy. This is applicable in case of a total loss, i.e., theft or the total damage to your bike.

How do I claim my bike insurance in case of theft?

In the unfortunate event that your bike is stolen, follow the below-mentioned steps to make an insurance claim:

  • File an FIR by going to the police station
  • Intimate your insurance provider about the theft without delay and fill out the claim form
  • Inform the Regional Transport Office (RTO) about the theft
  • Gather the documents to substantiate your insurance claim
  • Submit the necessary documents to the insurance company, and they will reimburse the money basis the current IDV

Disclaimer / TnC

Your policy is subjected to terms and conditions & inclusions and exclusions mentioned in your policy wording. Please go through the documents carefully.

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