Two Wheeler Theft Claim Settlement Process Online

Bike thefts are common in India. And thus despite parking their bikes in designated parking areas, bike owners often fear losing their dream bike. This is where a reliable bike insurance policy comes handy. A bike insurance policy can not save you from theft but can always protect you from the financial losses which you may incur in case of a misfortune event.

But before we get into the insurance claim process for a stolen bike, let us first understand, What a theft cover in insurance is?

Theft cover in bike insurance policy covers you in case your bike gets stolen. You can avail this cover and breathe easy if you own either a standalone own-damage bike insurance policy or a comprehensive bike insurance policy.

Read on to know the insurance claim process in case your bike gets stolen.

Insurance Claim Process For Stolen Bike

Filing a claim under your bike insurance policy is not any rocket science. You are just required to follow the simple steps mentioned below:

1. File a First Information Report (FIR)

Filing an FIR is the first and most important step in filing a claim under your bike insurance policy. You are required to do this at the nearest police station as soon as you get to know about the mishap. Keep a copy of the FIR as the insurance company will require the same.

2. Inform Your Insurance Provider

Do not delay in informing your insurance company about the theft as they may have their own process to carry out which may take time. They might assign a Claim Inspector to handle the issue. It is advised to cooperate with the inspector and answer the questions honestly.

3. Intimate the Road Transport Office (RTO)

It is mandatory by law to inform the Road Transport Office about the theft. You will be required to complete all the formalities according to the rules of your RTO.

4. Submit Untraceable Report

If the police is unable to trace your bike after 90 days, then they will issue you an untraceable report and the matter will move to the court of law. The court will issue a Non-Objection Certificate (NOC) after which the insurance company will begin with its own investigation.

5. Claim Process At the Insurance Company

If the insurance company is unable to trace the bike, then it will begin the claim process. Submit the required documents and you will receive the claim amount.

Documents required for Insurance Claim Process For Stolen Bike

You are required to submit the following to make a claim for your stolen bike:

  • Your driving license
  • Copy of registration certificate of your bike
  • Copy of driving license
  • FIR document
  • Transfer papers from the RTO
  • Duly filled claim settlement form with your signatures
  • Original keys of your bike

Also Read:

How To Claim Third Party Insurance For Two Wheeler

Know About IDV and NCB in Two Wheeler Insurance


Now that you know what is to be done if you do not find your bike at the parking spot, you must also know the importance of renewing our bike insurance policy. Without a valid bike insurance policy, you will not be able to avail of any benefits for your lost possession and hence always keep it handy and keep it active before it gets lapsed.

At InsuranceDekho, you can not only purchase a reliable bike insurance policy, but renew it too. So, to ensure that you stay protected against a misfortune event such as bike theft, keep it covered at all times with an active bike insurance policy.

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.

Add-on Covers For Your Bike Insurance Policy

  • Zero Depreciation

    Like other assets, the value of your two wheeler also depreciates constantly with time and the liability of this expense by default rests with the policyholder. A zero depreciation add-on protects you against the depreciation expenses incurred by your bike. Thus, if you opt for a zero depreciation cover, depreciation expense of your bike is not deducted from your claim amount at the time of a claim settlement. This add-on is available with comprehensive bike insurance plans as well as standalone bike insurance plans. This is one of the most popular and recommended bike insurance add-on covers.

  • Invoice Protection

    In case of total loss (more than 70% damage) or theft of your bike, the insurance company pays you the Insured Declared Value of your bike as compensation. However, this Insured Declared Value (IDV) is less than the invoice price which you pay at the time of purchasing your bike. The Invoice Protection add-on cover helps you claim the Invoice Price, i.e. total ex-showroom price of your bike plus taxes plus registration charges, of your bike in case of total loss or theft of your bike.

  • NCB Cover

    No Claim Bonus is the reward which is given to the policyholder for not making any claim during the policy period. This reward is offered by the insurer in the form of a discount on the own-damage premium of the bike insurance policy at the time of policy renewal. The NCB ranges from 20% to 50% of the own-damage premium depending on the number of claim-free years. However, if you make even a single claim during the policy period this NCB gets lost. But, with the NCB Cover, you can keep your NCB intact even after making a claim during the policy period.

  • Engine Protection Cover

    The damages incurred by the engine of the two wheeler are by default not covered under a bike insurance policy. However, if you opt for an Engine Protection Cover, the insurer will be liable to compensate you for damages incurred by the engine of your bike such as damage due to leakage of lubricants, water ingress, hydrostatic lock, damaged gearbox, broken crankshafts or pistons and cylinders. The repair cost of the internal engine parts is often high and can sum up to thousands of rupees or more. Thus, addition of this add-on to your comprehensive or standalone 2 wheeler insurance policy can save you from these expenses.

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