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Factors That Affect Your Bike Insurance Cover

Published On Dec 08, 2020 12:00 PM By InsuranceDekho

When buying insurance for your bike, it is important to be aware of all the different factors which can impact it, and affect the premium you will have to pay as well as the coverage you receive.

When buying a bike or two wheeler for yourself, one of the biggest responsibilities that come with it is purchasing two wheeler insurance to go along with it. Not only is this beneficial for your safety and peace of mind should you find yourself in any unfortunate situation, but it is also also mandatory by law. It is important to do your research and know all about the different insurance options available to you, and how to go about selecting the right one. There are many factors which will impact the coverage of your insurance. Have a look at some of the major ones.

Factors Which Affect Your Bike Insurance Coverage

1. Bike Manufacturer

The manufacturer or manufacturing company of your bike will have a considerable impact on your insurance and the insurance premium. A scooter or bike from an Indian manufacturer will offer you a lower premium whereas a manufacturer that is imported and offers a lot of features and additional aesthetics may drive up the premium.

2. Make And Model Of The Bike

The model of bike that you have opted for is crucial in determining the coverage you will be given and the premium cost of your bike insurance.

3. Bike Engine Capacity

One of the most important components of your bike is the engine. IRDAI (Insurance Regulatory and Development Authority of India) has set different premiums based on the engine capacities of your bike for third party insurance. Thus you can see the engine capacity will have a big impact upon the bike insurance you purchase.

You May Also Like To Read: Bike Engine Protection Cover Add On

4. IDV Of The Bike

IDV stands for Insurance Declared Value. It refers to the current market value of the bike and it depreciates over time to represent wear and tear as well as age. When it comes to the premium and the coverage of your bike insurance, IDV is the biggest factor which will impact the two. The IDV represents the amount that your bike is insured for and thus the amount you would be compensated for in case of theft or total damage of your bike.

You May Also Like To Read: Benefits Of Bike IDV Calculation For Two Wheeler Insurance

5. Age Of The Bike

Usually the value of the bike will decrease with aging. With age, there will be a reduction in the policy premium of your bike. There may be an exception in the case of a vintage bike in which case the age adds value and if it is in good condition it would not represent wear and tear.


There are a variety of factors which will impact your choice of insurance for your bike. Make sure to keep the above mentioned considerations in mind when selecting which bike insurance is best for your needs and preferences.

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.

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