Bike Insurance in Mumbai

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Bike Insurance in Mumbai

In Mumbai, owning a bike presents unique challenges due to its busy streets and constant risk of accidents. This is where bike insurance plays a crucial role. It serves as a financial safety net, shielding you from the potential expenses incurred in case of accidents, theft, or damage to your vehicle.

Given Mumbai's notorious traffic congestion and high susceptibility to theft, having comprehensive two-wheeler insurance becomes not just important but necessary. It offers a sense of security and peace of mind, enabling you to ride your bike with confidence, knowing you are protected financially against unforeseen circumstances.

All About Bike Insurance in Mumbai and Why You Need One

In Mumbai, having a bike insurance policy is essential to safeguard your two-wheeler from unforeseen costs arising from accidents, theft, or damages. It offers financial protection and peace of mind amidst the city's bustling streets and high theft rates.

Understanding the types of insurance, such as Third-party, Comprehensive, and Own Damage, is important for choosing the right coverage.

Moreover, insuring electric vehicle (EV) bikes or two-wheelers is increasingly necessary, given the growing popularity of eco-friendly transportation options.

Whether it is a traditional bike or an EV, insurance ensures you can confidently navigate Mumbai's roads.

Problems Faced by Bike Owners in Mumbai

Bike owners in Mumbai also grapple with several on-road challenges:

  • Water seepage into petrol tanks during heavy rains is a common problem, leading to engine malfunction and decreased performance.

  • The city's traffic congestion often results in engines overheating, especially during prolonged waits at signals or in slow-moving traffic.

  • The combination of stop-and-go traffic and high temperatures can strain engines, causing them to overheat and potentially leading to breakdowns.

  • Reckless driving and lack of adherence to traffic rules** pose significant risks to bike owners. Manoeuvring through unruly traffic requires constant vigilance and defensive driving skills to avoid accidents.

  • Another prevalent concern is the rampant cases of bike theft, particularly in crowded areas and poorly lit streets. Despite efforts to curb theft, many bike owners still fall victim to this crime, resulting in financial loss and inconvenience.

Tata AIG’s Best Bike Insurance in Mumbai

If you are based out of Mumbai and looking for ‘bike insurance near me’, Tata AIG has you covered.

Tata AIG Bike Insurance offers comprehensive protection to bike owners in Mumbai, catering to diverse needs and preferences. Understanding the types of insurance plans and their coverage is essential for making informed decisions about safeguarding your two-wheeler against potential risks.

Tata AIG Third-Party Bike Insurance

Tata AIG's Third-party insurance plan offers essential legal protection to bike owners in Mumbai, covering liabilities arising from third-party property damage or bodily injury.

This policy is mandated by law, and every vehicle owner must have this coverage for their bikes at least.

Policy Inclusions Policy Exclusions
Legal liabilities  Theft or fire damage
Third-party liability Own damage
Property damage Damages incurred outside of India
Personal accident cover Any optional coverage or add-ons

Who Would Benefit: Bike owners who primarily seek legal protection against third-party liabilities and those with older bikes or lower-value vehicles looking for cost-effective insurance options.

Tata AIG Comprehensive Bike Insurance

Tata AIG's Comprehensive bike insurance is a comprehensive protection plan designed to offer extensive coverage against a wide range of risks faced by bike owners in Mumbai.

In addition to covering damages to the insured bike due to accidents, theft, or vandalism, it also provides financial security against natural calamities, riots, strikes, and terrorism-related incidents.

Policy Inclusions Policy Exclusions
Third-Party Liabilities Damage from regular wear and tear
Accidental Damage (Self and Third Party) Damages due to driving without a valid licence
Add-On Coverage Options Intentional damage caused by the owner
Emergency Medical Expenses Damages due to war or nuclear risks

Who Would Benefit: Owners of high-value bikes seeking comprehensive coverage against various risks and those living in areas prone to natural calamities or civil disturbances.

Tata AIG Standalone Own Damage Bike Insurance

Tata AIG's Standalone Own Damage Bike Insurance offers targeted coverage specifically for damages to the insured bike due to accidents, fire, theft, vandalism, and natural disasters. This policy is tailored for bike owners who prioritise protecting their vehicles against unforeseen events without the additional coverage provided by a comprehensive plan.

Policy Inclusions Policy Exclusions
Fire and explosions  Third-party damages
Man-made damages Damages caused due to drunk riding
Damage beyond repair Riding without a licence
Accidental damages Mechanical or electrical breakdown

Who Would Benefit: Bike owners seeking basic coverage against accidents and theft and owners of new bikes looking for affordable insurance options.

Best Bike Insurance in Mumbai: Third-Party vs. Standalone Own Damage vs. Comprehensive Bike Insurance

Parameters  Third-Party Bike Insurance Standalone Own Damage Insurance Comprehensive Bike Insurance
Coverage Third-party bike insurance offers fundamental legal and financial protection, covering damages caused to third parties by your insured bike. It ensures both legal compliance and financial security in case of third-party claims. Standalone Own Damage bike insurance exclusively addresses damages and losses sustained by the insured bike, offering focused coverage for the vehicle itself. Comprehensive bike insurance offers extensive protection against accidents, third-party liabilities, and provides personal accident coverage for the owner-driver.
Third-party Damage This insurance provides financial and legal support for any third-party liabilities you may encounter. Third-party liabilities are not covered under this policy. This insurance covers third-party liabilities associated with the insured bike.
Add-ons Third-party insurance does not come with any additional features or add-ons. This insurance type allows for the inclusion of add-ons. Comprehensive insurance offers the option to include unique add-ons for enhanced coverage.
Which is a Better Choice? While offering limited coverage, third-party insurance is legally mandated. Coverage is restricted solely to insured bikes and does not encompass additional features. Comprehensive bike insurance offers thorough protection, encompassing various aspects for comprehensive coverage.

What is the Two-Wheeler Insurance Rate in Mumbai?

In Mumbai, the two-wheeler insurance rate depends on several factors that influence the comprehensive bike insurance policy rates. Understanding these factors is crucial for bike owners to make informed decisions regarding their insurance coverage.

  • IDV: One of the primary factors determining the insurance rate is the Insured Declared Value (IDV) of the bike.

    If you want to know what IDV means in bike insurance, it basically represents the maximum payment the insurance company can pay you in case of total loss or theft of the insured bike. Typically, higher IDV leads to higher premiums since it indicates greater coverage.

  • Engine Capacity: The engine capacity of the bike also plays a significant role in determining the insurance rate. Bikes with higher engine capacities are generally associated with higher premiums due to their increased risk of accidents and potential for more extensive damages.

  • Bike’s Make and Model: The make and model of the bike are crucial factors influencing the insurance rate. High-end bikes or those with expensive spare parts tend to have higher insurance premiums. Conversely, bikes with lower market values usually have lower premiums.

  • Location of Purchase: The location where the bike is registered also affects the insurance rate. Mumbai, being a densely populated metropolitan city, experiences higher instances of accidents and theft compared to rural areas. As a result, insurance premiums in Mumbai may be higher to compensate for the increased risk.

  • Inclusion of Add-ons: The inclusion of add-ons or optional coverage in the comprehensive bike insurance policy can impact the insurance rate. Add-ons such as zero depreciation cover, roadside assistance, and personal accident cover for pillion riders enhance the scope of coverage but also increase the premium amount.

  • No Claim Bonus (NCB): NCB is a reward provided by insurance companies to policyholders for not making any claims during the policy term. The NCB accumulates over consecutive claim-free years and can lead to substantial discounts on insurance premiums.

Third-Party Bike Insurance Premium Rates

The premium for third-party insurance is calculated based on factors such as the vehicle's engine capacity (cc) and other relevant considerations.

Additionally, third-party bike insurance rates tend to remain consistent across different providers since they are set according to the annual premium rates established by the Insurance Regulatory and Development Authority of India (IRDAI).

As these rates may change periodically, it is recommended to confirm them via the Ministry of Highway and Road Transport's (MoRTH) official portal under their Gazette notifications before finalising any insurance purchase.

How to Choose the Best Bike Insurance Policy in Mumbai?

Mumbai's vibrant streets offer endless possibilities, but they also come with unique risks for your bike. To navigate the tricky roads of Mumbai confidently, selecting the right bike insurance policy is crucial.

Here are some key factors to consider:

  • Coverage Type: Before purchasing bike insurance in Mumbai, it is essential to examine the coverage offered thoroughly. To secure the best insurance for your bike, carefully evaluate your needs and financial constraints.

    Consider factors such as the age and usage of your vehicle, as well as your coverage requirements and budget. Based on these considerations, you can opt for either third-party or comprehensive coverage to ensure adequate protection for your bike.

  • Insured Declared Value (IDV): This represents the maximum sum the insurer will pay in case of theft or total damage to your bike. Opting for an IDV closer to the market value of your bike ensures adequate compensation.

  • Add-on Covers: These customise your policy, providing additional coverage for specific needs like engine protection, personal accident benefits, and roadside assistance. Choose add-ons based on your individual requirements.

  • Claim Settlement Ratio (CSR): The Claim Settlement Ratio represents the proportion of claims successfully settled by the insurer. Choose an insurer with a high CSR to ensure a smoother and more reliable claims process.

  • Network Garages: A broader network of cashless garages provided by the insurer offers greater flexibility for convenient repairs following an accident. Opting for a policy with extensive network garage coverage enhances accessibility and ease of service.

  • Customer Service: Efficient customer service is essential for addressing claims or policy inquiries promptly and effectively. Conduct research on the insurer's reputation and online reviews to assess the quality of their customer service and ensure a satisfactory experience.

  • Exclusions: It is vital to comprehend the coverage limitations of your selected policy. This will ensure that you do not face any claim-related issues in the future.

Why Should You Choose Online Bike Insurance Policies?

Choosing online bike insurance policies offers numerous advantages for bike owners in Mumbai:

  • Convenience: Online bike insurance policies offer unmatched convenience, allowing you, as a bike owner in Mumbai, to explore, compare, and purchase insurance plans at your convenience without the need to visit physical offices or agents.

  • Time-saving: With online platforms, you can quickly browse through different insurance options, customise coverage according to your needs and complete the entire purchase process in a matter of minutes, saving valuable time.

  • Cost-effective: Online insurance plans often come with competitive premiums and discounts, helping you save money compared to traditional offline policies. Additionally, you can easily compare quotes from multiple insurers to find the most cost-effective option.

  • Accessibility: Online platforms provide easy access to information regarding policy features, coverage details, terms and conditions, empowering you to make informed decisions about your insurance needs.

  • Flexibility: Online bike insurance policies offer greater flexibility in terms of policy management, allowing you to renew policies, update personal details, and file claims conveniently through digital channels.

Tata AIG stands out for its user-friendly online platforms, which cater to the specific needs of bike owners in Mumbai. Here is why our online bike insurance plans are a preferred choice for bike owners in Mumbai.

Why Choose Tata AIG Bike Insurance in Mumbai?

Tata AIG stands out for several compelling reasons when considering bike insurance in Mumbai:

  • Comprehensive Coverage: Tata AIG offers extensive coverage options, protecting your bike against accidents, theft, natural calamities and third-party liabilities.

  • Add-Ons for Enhanced Protection: Policyholders can choose from a range of add-on covers such as zero depreciation, roadside assistance, and personal accident cover for added security.

  • Wide Network of Garages: Policyholders can enjoy convenient repairs and services across Mumbai with a vast network of cashless garages.

  • Transparent information: We provide transparent information about policy features, coverage inclusions, exclusions, and premium calculations, allowing users to make well-informed decisions.

  • Quick and Efficient Service: Our online platforms offer quick and efficient service, with streamlined processes for policy issuance, renewal, claims filing, and customer support.

  • Customisation Options: Bike owners can customise their insurance plans online, choosing coverage levels, add-ons, and deductibles that suit their requirements and budget.

Key Features and Benefits of Tata AIG’s Two-wheeler Insurance in Mumbai

Key Features and Benefits Details
Comprehensive Coverage Tata AIG’s bike insurance policies provide extensive coverage against a wide range of risks, including accidents, theft, natural calamities like floods and earthquakes, as well as third-party liabilities arising from property damage or bodily injury.
Add-On Options Policyholders have the flexibility to enhance their coverage with various add-on options such as zero depreciation cover, roadside assistance for emergencies and personal accident cover for additional protection during unforeseen events.
Quick Claim Settlement Tata AIG ensures a swift and hassle-free claims settlement process backed by efficient customer support, minimising the inconvenience and stress associated with claim filing and processing.
Extensive Garage Network With a vast network of cashless garages spread across Mumbai, policyholders can easily access quality repair services and get their bikes back on the road promptly after an accident or damage.
No-claim Bonus (NCB) Policyholders who maintain a claim-free record are rewarded with No-claim Bonus discounts on their premiums, encouraging safe and responsible riding habits while offering financial benefits.
High Claim Settlement Ratio Tata AIG boasts a commendable track record of high claim settlement ratios, reflecting its commitment to fair and timely resolution of claims, instilling confidence and trust among policyholders.
Own Damage Cover for Bike Tata AIG’s bike insurance policies offer comprehensive protection against damages to the insured bike itself, ensuring financial security and peace of mind for policyholders in the event of accidents or mishaps.
Third-party Damage Cover In addition to protecting the policyholder's bike, Tata AIG’s policies also offer coverage for damages caused to third-party property or individuals, addressing legal liabilities and financial obligations arising from accidents.
Low Premiums Tata AIG offers competitive premium rates for its bike insurance policies, making comprehensive coverage accessible and affordable for bike owners in Mumbai without compromising on the quality of service or coverage.

Best Bike Insurance Add-Ons to Get in Mumbai

-Return-to-Invoice Cover: This add-on ensures that if your bike is stolen or faces total loss, you receive the full invoice value of your bike. It helps you recover the original purchase price, providing financial security and peace of mind.

-Emergency Medical Expenses: In case of accidents, this add-on covers your medical expenses, including hospitalisation and treatment costs. It ensures you receive the necessary medical care without worrying about the financial burden.

-Depreciation Allowance: This add-on ensures that during repair or replacement of parts, you receive compensation without deductions for depreciation. It helps you cover the costs of repairs effectively, preserving the value of your bike.

-Consumables Expenses: This add-on covers the expenses for consumable items like engine oil, nuts, bolts, and screws. It ensures that even the smaller yet essential components are included in your insurance coverage, providing comprehensive protection.

-Roadside Assistance: With this add-on, you get round-the-clock assistance for emergencies such as breakdowns, flat tyres, or fuel shortages. It offers towing services or on-site repairs, ensuring that you stay safe and supported during unexpected situations on the road.

How to Buy and Apply for a Bike Insurance Renewal in Mumbai?

You can purchase and renew bike policies in Mumbai easily in just a few steps online with Tata AIG:**

How to Buy New Bike Insurance

  • Step 1: Visit Tata AIG's official website and navigate to the "Bike Insurance" page.

  • Step 2: Enter your bike registration details and click on "Get Price" to view policy details.

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

  • Step 4: Select the appropriate Insured Declared Value (IDV) for your bike from the options provided.

  • Step 5: Review the displayed bike insurance premium details.

  • Step 6: Complete the payment process using your preferred mode of payment.

  • Step 7: Once payment is successful, you will receive soft copies of your insurance documents via email.

How to Renew Bike Insurance

  • Step 1: Access Tata AIG's official website and go to the "Bike Insurance" page.

  • Step 2: Enter your bike registration details and click on "Renew" to proceed with policy renewal.

  • Step 3: The online calculator will generate your policy price.

  • Step 4: Choose the suitable Insured Declared Value (IDV) based on your requirements.

  • Step 5: Review the No Claim Bonus (NCB) value from the previous year.

  • Step 6: Check the displayed bike insurance premium amount.

  • Step 7: Select your preferred payment method and complete the bike insurance renewal payment.

  • Step 8: Upon successful payment, you will receive soft copies of your renewed insurance documents.

How to File a Claim for Two-Wheeler Insurance in Mumbai with Tata AIG

You have two options to file a claim with Tata AIG for your bike insurance:** reimbursement or cashless.

Reimbursement Bike Insurance Claim

  • Step1: You must contact Tata AIG's insurance executive promptly after the incident (theft or accident) or visit the Claims Process page online.

  • Step2: Provide the executive with your policy, vehicle, and incident details. Alternatively, fill in the required details online through the "Claims Process" page.

  • Step3: Opt for self-inspection of your bike or have our executive survey the damages. Then, send your bike to your preferred garage for repairs.

  • Step4: After repairing your vehicle, submit repair bills, policy documents and registration certificates to file a reimbursement claim.

  • Step5: Upon verifying all documents, Tata AIG will release the claim amounts.

*Cashless Bike Insurance Claim

  • Step1: Immediately contact Tata AIG's insurance executive after an accident or theft.

  • Step2: Register your claim within 48 hours of the incident by providing policy details, vehicle registration information, and accident details.

  • Step3: The insurance executive will survey the damages to your vehicle.

  • Step4: Once the survey is completed, your vehicle will be sent to a network garage for repairs. Tata AIG will then settle the claim and cover expenses related to your insured bike.

Documents Needed for Bike Insurance Policy Claims in Mumbai

  • Completed and signed claim documents.

  • Self-attested copy of the vehicle registration certificate.

  • Driving licence of the individual riding the vehicle at the time of the accident.

  • Copy of the bike insurance documents.

  • Original receipts, bills, and invoices related to the claim.

  • The original invoice for cashless claim settlement.

Tata AIG Cashless Garages in Mumbai

In Mumbai, Tata AIG's cashless garages form a vast network affiliated with Tata. These garages provide convenient cashless repair services exclusively for Tata AIG vehicle insurance holders. They specialise in professional vehicle handling and comprehensive damage repairs, ensuring top-notch service quality.

To find the nearest network garage in Mumbai, you can use the garage locator tool. Simply fill in your city details and vehicle information. However, it is important to note that cashless repairs are applicable only under comprehensive plans.

Additionally, some services may not be available in certain areas. For further assistance and detailed information, you can always reach out to Tata AIG's customer support service. Our team is available to provide comprehensive guidance regarding network garage availability and service coverage in Mumbai.

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 bike insurance mandatory in Mumbai?

Is bike insurance mandatory in Mumbai?


Yes, bike insurance is mandatory in Mumbai as per the Motor Vehicles Act, 1988. It is compulsory to have at least third-party liability insurance to operate your bike legally on Mumbai roads.

How can I reduce my bike insurance premium in Mumbai?


You can reduce your bike insurance premium in Mumbai by maintaining a claim-free record to earn a No Claim Bonus (NCB), opting for voluntary deductibles, installing anti-theft devices and comparing quotes from different insurers to find the best deal.

How do I check my bike insurance policy details?


To check your bike insurance policy details, refer to your policy document for comprehensive information on coverage, premium amount, and policy period. You can also contact Tata AIG’s customer service helpline for assistance.