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As a bike owner in India, you may be aware that riding without a valid bike insurance is an offence. It would attract hefty fines, and you may even face imprisonment. Apart from being on the right side of the law, having a bike insurance policy helps you get financial protection against accident-related losses. Hence, it is advisable that you purchase a good insurance cover as soon as you buy a new two-wheeler.

In India, most people tend to look at bike insurance as only a legal requirement, and end up buying a policy with the lowest premium. However, they don’t realise that such policies may not offer enough coverage or suit their needs. So, if you are looking for a new bike insurance policy, here are a few important factors you must consider other than premium.

Factors to consider while purchasing two-wheeler insurance

Simplicity of claim process

The primary purpose of bike insurance is to provide financial protection against accidental damages and losses. Hence, when you buy two wheeler insurance, you must consider the insurer’s claim process; it must be simple and hassle-free.

Documentation formalities

Another important factor you must consider while buying a new bike insurance policy is the documentation process of the insurance company. You must check if the insurer allows you to buy, and renew a policy and raise a claim with minimum documents. This will help you have a smooth purchase and claim experience.

Today, many reputed and popular insurance companies like Kotak General Insurance have a simple documentation formality for all transactions. They also allow you to buy, renew and raise a claim online, which further simplifies the process.

Claim settlement ratio

Claim settlement ratio is a critical factor you must consider while buying bike insurance. It is the ratio that defines the number of claims the insurance company has successfully settled within a specific period against the number of claims requests they received in the same period.

When comparing different bike insurance plans, you must look for an insurance company that has a high CSR of 90% or more. Afterall, when you raise a claim, you would want to get the compensation without any hassles right?


Riders or add-ons are additional coverage options that you can voluntarily buy by paying an additional premium. Riders help you extend the coverage scope of your policy, and get protection against specific risks that may not be covered under the regular policy terms.

So, when you buy two-wheeler insurance, you must look at the riders that the insurance company is offering, and check if they have a rider for risk that you feel you may need. Some of the common riders for bike insurance are roadside assistance cover, depreciation cover, engine protection cover, etc.

Insured Declared Value

In simple terms, insured declared value or IDV is the current market value of your bike. It is also the maximum amount that the insurance company will pay you if your two-wheeler gets damaged beyond repairs or gets stolen. Generally, the IDV decreases as the bike’s age increases. It is pivotal that you get your bike’s IDV assessed correctly while buying an insurance cover.

Final Word

So, now that you are aware of the important factors to consider while buying a bike insurance policy, don’t make your decision based on the premium alone. If you are looking for the best bike insurance, you can consider buying Kotak Long Term Two-Wheeler Secure from Kotak General Insurance. It is a comprehensive insurance policy that offers wide coverage and comes with a host of attractive features and benefits.

You can visit our Kotak General Insurance two-wheeler page to know more about the policy, and buy the plan.

Disclaimer: The content provided is for education and informational purpose only, none of the information contained in our blog amounts to any form of opinion or advice. Please go through policy related documents carefully or consult an expert before making any insurance-related decisions.


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