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All You Need to Know About Theft Cover in Two-Wheeler Insurance


Written by Udit Varshney

Updated Mar 20, 2021

To stay protected in case of theft of the two-wheeler, you must have a comprehensive two-wheeler insurance policy. Read more here.

Two-wheelers are one of the most convenient ways to commute in India mainly because they do not take much space and let you easily make way through other vehicles on the road. With more and more people opting for two-wheelers to commute, the number of two-wheelers on the Indian roads has increased significantly. And with the rise in the number of two-wheelers, there is a steady rise in the number of theft cases of the same. In case your two-wheeler gets stolen, no doubt that you will feel the pinch of losing your dear vehicle, but know that you can always claim insurance in case of theft. Let us understand the importance of insurance in such cases.

All You Need to Know About Theft Cover in Two-Wheeler Insurance

Importance of Two-Wheeler Insurance

If you want to stay protected in case your two-wheeler gets stolen, then it is recommended to have a comprehensive two-wheeler insurance policy. It can be of great help in case of theft as you can initiate a claim and receive compensation for the same. All you need to do is follow a certain theft claim procedure and you will be compensated by the insurance company for the same. Thus, a comprehensive two-wheeler insurance policy keeps you covered at all times, thereby saving you from unexpected financial expenses in case of a theft.

Process to Register Two-Wheeler Insurance Theft Claim

In case of a two-wheeler theft, you should make a claim request to your bike insurance company as soon as possible. Here is the process to make a claim under your two-wheeler insurance policy:

  1. File an FIR: As soon as you realise that your two-wheeler is stolen, you must immediately visit the nearest police station and file an FIR. Filing an FIR is must as you will be required to present the copy of the same when filing a claim.
  1. Inform the Insurance Company: After filing the FIR, you must inform the insurance company about the theft. When informing, you must share the whole incident supporting the information with policy number and registration details. Some insurance companies have a time limit of around 24 hours within which they must be informed in case of theft.
  1. Inform the Local or Regional Transport Office: according to the law, you are required to inform the local or Regional Transport Office about the theft. From the RTO, you will be required to collect the transfer paper and other documents required.
  1. Submit the Required Documents: You are required to submit the following documents at the time of claim under your two-wheeler insurance policy:
  • Original copy of the FIR (First Information Report)
  • Copy of the registration certificate
  • Duly signed claim intimation form
  • Copy of the driving license
  • RTO transfer documents with form 28, 29, 30, and 35
  • Copy of the insurance policy
  • Original keys of the two-wheeler, if needed
  • Police untrace report, specifying that the two-wheeler cannot be traced.
  • No Objection (NOC) from Hypothecator (Bank of Two Wheeler Loan Financer), if the two-wheeler is financed.

How Is The Payout made?

If the two-wheeler is not recovered, then the insurance company will compensate you with an amount equal to the insured declared value of your two-wheeler. Hence, it is important that you always choose a two-wheeler insurance policy with a higher IDV. If you had purchased the two-wheeler on hypothecation, then the insurance company would reimburse the payout amount to the bank and you will be required to pay the difference in the amount. In case the two-wheeler is recovered, then the insurance company will not pay for any theft claim. Instead, it will compensate you for the damage caused to the two-wheeler during theft or by the thieves.

Bottom Line

Two-wheeler theft can be a stressful situation but you must keep calm. If you have adequate two-wheeler insurance cover, then you will eventually get the claim amount. What best you can do to avoid two-wheeler theft is lock it and keep it safe. But if it still gets stolen, then you will be backed by a comprehensive two-wheeler insurance policy.

In case you face any issue at the time of claim, then you may get in touch with the customer care executives at InsuranceDekho on the toll-free number 7551-196-989.

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.


Written by Udit Varshney

Udit has built B2C segments across various industries and has had significant contributions to the insurance sector. Read More

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