Bike Insurance in Indore

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Bike Insurance in Indore

There are over 10 lakh two-wheelers in the city of Indore. This huge number of vehicles on the streets in Indore may often cause traffic congestion and incidents like collisions and accidents. Although you might take precautions to avoid such incidents, what if other motorists run into you can cause damage?

Hence, you must have a bike insurance policy that provides coverage against financial and legal damages. Moreover, having at least a third-party bike insurance is mandated by the law.

In this blog, we shall learn about the right insurance for a 2-wheeler, features to look out for, steps to buy insurance, and much more.

All About Bike Insurance in Indore and Why You Need One

A bike insurance policy is a binding contract between the bike owner and the bike insurance company. Under the contract, the insurance company promises to provide financial protection against damages and liabilities caused by or/and to the insured vehicle.

Having third-party insurance is mandatory for every vehicle owner under the provisions of the Motor Vehicles Act 1988. Moreover, you can consider buying comprehensive bike insurance for additional benefits and extra protection.

Problems Faced By Bike Insurance Owners in Indore

Some of the problems that bike riders in Indore face are:

  • Traffic violations by other vehicles lead to incidents like vehicle collisions and road accidents.

  • Management of traffic on heavy traffic flow roads is necessary for navigating on the road. The absence of road indicators or signs at the blind spots causes direction-related confusion among drivers.

  • Narrow lanes are overcrowded with vehicles and cause bikers to run into them.

  • The lack of dedicated biker’s lanes on the majority of roads causes run-ins into pedestrians.

Tata AIG Bike Insurance in Indore

Tata AIG offers three types of bike insurance policies. Here is the detailed information about all three policies. Tata AIG Third-Party Bike Insurance A third-party bike insurance policy is insurance that provides coverage against third-party damages and losses that occur due to your insured bike. It is mandatory insurance for every vehicle owner, as it protects you from financial and legal liabilities.

Inclusions of Insurance  Exclusions of Insurance
Third-Party Liability Theft and Fire Damage
Legal Expenses Own Damage
Third-Party Property Damage Personal Injury to Owner/Rider
Add-ons and Optional Covers
Ideal For
Third-party insurance provides coverage against third-party liabilities only. For extra protection, you can check out other insurance types.

Tata AIG Standalone Own Damage Cover Bike Insurance It is a bike insurance policy that provides protection only to your insured bike. All the damages and losses that occurred to your bike due to any accident will be covered by the bike insurance policy.

Inclusions of Insurance Exclusions of Insurance 
Accidental Damages Third-party Damages
Man-made damages Mechanical/ Electrical Breakdown
Fire and Explosions Drink and drive Damages
Theft or Malicious Acts Without a licence to drive/riding
Damages Beyond Repair Outside Policy Terms
Ideal For
Bike riders who travel through or live in accident-prone or theft-ridden areas and want protection for their vehicle. 

Tata AIG Comprehensive Bike Insurance Tata AIG comprehensive bike insurance is an extensive policy that provides coverage against theft, fire and explosion, accidental damages, or total loss damage. Moreover, the policy also protects against third-party liabilities incurred due to your insured bike.

Inclusions of Insurance Exclusions of Insurance
Damage caused to bikes due to accidents, fire, explosions, man-made causes, natural disasters, or theft. Ordinary wear and tear due to usage
Personal Accident Cover for Owner/Driver Damage caused to driver/owner driving without wearing helmet or carrying a valid insurance
Third-party Liabilities Damages caused due to driver-owner’s negligence
Add-ons for extensive coverage Out of geographical location
Ideal For
Individuals who want extensive protection for themselves and their vehicle

Best Bike Insurance in Indore: Third-Party Vs Standalone Own Damage Vs Comprehensive Bike Insurance

Considerations Third-Party Bike Insurance Standalone Own Damage Insurance Comprehensive Bike Insurance
Coverage  Third-party bike insurance provides legal and financial coverage against third-party persons and property damages due to the insured vehicle. It only covers damages and losses that occurred to the insured bike.  A comprehensive bike insurance policy is extensive insurance that provides coverage against a wide range of damages and losses. 
Third-Party Liability It protects against any liability to third parties caused due to the insured vehicle. Standalone own damage cover does not provide coverage against third-party liabilities.  It provides coverage against third-party liabilities.  
Insurance Add-ons Third-party insurance does not include any add-ons.  Insurance add-ons can be included in this type of insurance.  Comprehensive insurance provides various unique add-ons. 
Which Is a Better Insurance? Third-party insurance is mandatory. However, it provides limited protection. Provides coverage only to the insured vehicle and does not have additional benefits.  Comprehensive insurance provides overall protection against various damages and liabilities. 

What is the Two-wheeler Insurance Rate in Indore?

Several factors affect the two-wheeler insurance rate (especially comprehensive insurance). Some of these factors include:

No Claim Bonus: No claim bonus or NCB is a discount on premiums that insurance companies give to the policyholders who did not raise any claim in the previous year(s).

Registration location: The registration location of your vehicle affects your premium cost. Vehicles registered in rural areas and small towns have less premium cost than those registered in urban and metropolitan areas.

Make and Model of Bike: Higher-end and expensive bikes have more insurance premium amount than medium and low range bikes.

Bike IDV: IDV in bike insurance means the maximum amount that an insurance company can pay for the total loss of your bike, including irreplaceable damages and theft.

Add-on Covers: Although including add-ons provides you extra protection against unforeseeable damages, they also affect your insurance premium.

Third-Party Insurance Premium Rates

The third-party two-wheeler insurance rates are determined on the basis of your bike’s engine’s cubic capacity (cc) and other related-factors.

Moreover, third-party insurance rates are uniform among various insurance providers because they are annually declared by the Insurance Regulatory and Development Authority of India (IRDAI).

How to Choose the Best Bike Insurance Policy in Indore?

Access Your Requirements: Before buying any bike insurance policy, know your requirements in terms of coverage requirements, premium costs, and additional features provided.

Claim Settlement Process: Choose a reputed and reliable insurance provider that has a good claim settlement ratio. Make sure to check online reviews of insurance companies on their claim settlement procedure and efficiency.

Premium Cost: Premium costs can fluctuate; however, it is always advised to get an estimated premium price before buying the policy.

Add-ons: Check if the insurer provides insurance add-ons on their policies for extra protection of the policyholder.

Policy Exclusions: Make a note of all the things that are not included in the insurance to avoid any conflicts during the claim process.

Why Should You Choose Online Bike Insurance Policies?

Compare Easily: Online policies help to do easy comparisons by browsing online. You can check out various features of insurance, like its coverage, premium, renewal policy etc., online.

Time Efficient: Buying insurance for a 2-wheeler online saves you the time of standing in long queues at banks and going through physical documentation.

Customisable: Online bike insurance policy is more accessible to customise as per your requirements. You can go through various add-ons and coverage types you need and buy the best bike insurance.

Paperless: The whole process of online bike insurance is done digitally. So, there is no need to keep physical records; all your documents can be downloaded and saved on your device.

Safe and Secure: All your policy details and documents are kept confidential. Your bank details and renewal terms are also secured digitally.

Why Choose Tata AIG’s Two-wheeler Insurance in Indore?

We at Tata AIG understand and prioritise the requirements of policyholders and, thus, provide services and features that benefit them. You should buy insurance with us because of:

Easy Buy and Renewal Procedure: With our online insurance buy and renewal service, you can get insured in a few simple clicks. Just provide the necessary details on the Tata AIG insurance page.

Effortless Claim Process: You can start your claim process online by providing the necessary details. Just visit our claim procedure page online.

Unique Insurance Add-ons: Our customisable and unique insurance add-ons provide you with extra protection from any damages or loss.

Service at Network Garage: Tata AIG provides cashless repair services at its network garages. So you do not have to pay a penny from your pocket.

The trust of Tata: Tata has been dedicated to providing the utmost services to its customers for decades.

Key Features and Benefits of Tata AIG Bike Insurance in Indore

Key Features and Benefits Details 
No Claim Bonus (NCB) You can get up to 50% discount on your bike insurance premiums if you had no claim in the previous years.
Easy Claim Procedure Our team of dedicated claim experts assist in a seamless insurance claim process.
Own Damage Cover for Bike Get your own damage cover for your bike against natural or man-made disasters with our comprehensive insurance policy 
Third-Party Damage Cover We provide coverage against third-party person and property damage with our insurance policies.
Save on Premiums You can get up to 75% discounts on your bike insurance premiums. Know more while buying insurance.
Unique Insurance Add-ons Get 360-degree protection against various damages with our unique insurance add-ons.
Cashless Repair & Reimbursement  Get cashless repair/reimbursement services at any of our network garages.
High Claim Settlement Ratio We have a 99% claim settlement ratio in FY 2022-23 and provide high claim settlement for our vehicle insurance.
Easy Buy/Renewal  Enjoy easy online buying and insurance renewal service.

Best Bike Insurance Add-ons to Get in Indore

Basic insurance for 2-wheelers, like third-party insurance, provides only basic coverage, and even comprehensive bike insurance might not provide you with overall protection. In such cases, including insurance, add-ons can provide you with coverage against other damages.

Here are some unique insurance add-ons that you must consider to include in your bike insurance policy.

Zero Depreciation Add-on: With this add-on, you get reimbursement from the insurance company for the depreciation deducted from your claim amount.

Return to Invoice Cover: This insurance add-on helps you get the invoice cost of your vehicle in case of total damage or theft.

Emergency Medical Expenses: With this insurance add-on, you can get reimbursement for emergency medical expenses and ambulance costs incurred due to damages in the accident.

Roadside Assistance Add-on: With this add-on, if your vehicle breaks down in transit, you will be sent immediate breakdown assistance at your location. In this, you will be provided services for flat tyres, fuel requirements, battery issues, etc.

Consumable Expenses: Under this add-on, you will be reimbursed for costs incurred in the repair and replacement of bike consumables due to any accident.

How to Buy and Apply for Bike Insurance Renewal in Indore?

By following these steps, you can buy or renew bike insurance in Indore online.

How to Buy Bike Insurance

Step 1: Visit the official Tata AIG website and click on the “Bike Insurance” page.

Step 2: Next, fill in your bike registration details and then click on “Get Price”.

Step 3: The online bike insurance calculator will show your insurance policy price.

Step 4: Next, you will be displayed IDVs on the screen; from these, you need to select the IDV that is right for you.

Step 5: Now, you can see your insurance policy premium price.

Step 6: In the final step, you need to make payment of your premium from the given payment methods. Once done, you will receive soft copies of insurance documents at your registered email address.

How to Renew Bike Insurance

Step 1: Go to the official website of Tata AIG.

Step 2: Fill in your bike registration details and then click on “Renew” for bike insurance renewal.

Step 3: Next, the online bike insurance calculator will display your policy price.

Step 4: Now, you will find IDVs displayed on the screen. Select the right IDV as per your requirement.

Step 5: Your No Claim Bonus (NCB ) will be displayed on your screen.

Step 6: Next, you can see your bike insurance policy premium price.

Step 7: Finally, make payment of your premium from the given payment methods. After successful payment, you will receive soft copies of the bike insurance renewal at your registered email address.

How to File Claim for Two-Wheeler Insurance in Indore with Tata AIG?

Reimbursement Insurance Claims

Step 1: Connect with Tata AIG insurance executive or visit our Claim Process page within 48 hours of the incident (theft/accident).

Step 2: Provide the executive with detailed information regarding the incident. Like estimated damage, number of third-parties involved, details of your and other parties' vehicles, etc. You can also fill in details in the online “Claim Process” form.

Step 3: Next, you can conduct self-inspection of damages. The insurance executive can also survey and verify the damages before you send it for repair at your preferred garage.

Step 4: Once your vehicle is repaired, you need to provide the insurer with original repair bills, invoice, and certificate of registration to file a reimbursement claim.

Step 5: Your reimbursement claim amount will be released after document verification.

Cashless Insurance Claims

Step 1: Contact our insurance executive immediately after the incident of accident or theft.

Step 2: Provide the executive with necessary details like policy details, vehicle information and accident details. It should be done within 48 hours of the incident.

Step 3: Our executive will then survey to check the damages sustained to the insured vehicle.

Step 4: Once the executive is done with the survey, you can send your vehicle to the network garage for repairs. The insurance company will proceed with the claim settlement procedure and pay for the expenses of the insured vehicle.

Documents Required For Bike Insurance Policy Claims in Indore

Duly filled and signed claim forms

Your valid driving licence

Bike registration certificate (RC)

Bike insurance policy certificate

Identity proof documents: Aadhar card, PAN card

Original bills and receipts (for reimbursement claims)

First information report copy (FIR) (for theft cases)

Other documents, if requested by the insurer

Tata AIG Cashless Garages in Indore

Tata AIG cashless garages are the network of garages with whom we have tie-ups to provide cashless damage repair services to policyholders. These garages provide cashless repair services like changing batteries and damaged bike parts, providing priority service, and swift claim settlement.

Our network garages are spread all across India; you can easily find the nearest garage in Indore by using the Tata AIG garage locator. You just need to enter your city and vehicle details.

However, remember that the cashless garage service is available under a comprehensive bike insurance policy. Additionally there might be certain garage services that are provided only in select cities.

You can get in touch with our customer support service to get detailed information regarding this point and to know more about insurance.

Disclaimer / TnC

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

Related Articles

Is 5 years of insurance mandatory for bikes in Indore?

Is 5 years of insurance mandatory for bikes in Indore?


Yes, as per IRDA rules, every new two-wheeler vehicle owner must have five years of at least third-party insurance coverage. It is done to protect two-wheelers for a longer duration and avoid annual insurance lapses.

How to find bike insurance near me?


You can quickly go online and browse through Tata AIG’s website to compare their bike insurance policies to buy the best insurance as per your requirements.