Bike Insurance 1489 views August 20, 2019

What is The Role of Theft Cover in Bike Insurance- Things You Should Know

Role of Theft Cover in Two Wheeler Bike Insurance

A bike is not like any other vehicle you own. It is often a matter of pride to own and ride your motorcycle. As a result, your bike becomes one of the biggest prized possessions that you have. You keep it safe and protected in every way. Unfortunately, bikes still get stolen and you can do very little if such an eventuality strikes you. you can, however, make provisions and stay one step ahead in the game – you can buy a comprehensive bike insurance plan and keep your bike secured against thefts. Read on to know more.

Theft Cover in Comprehensive Vehicle Insurance

You are legally bound to get a basic third party motor insurance cover for your two-wheelers. A third party bike insurance cover only offers protection against the third party expenses. You do not get insurance coverage for your own vehicle. While a third party cover is helpful, you it won’t be of any use when your bike gets stolen. For that, you need a comprehensive motor insurance policy for your two-wheelers.

Understanding The Cover

Let us take a look at some of the features that define the theft cover in a comprehensive bike insurance policy:-

Evaluation After Theft

The motor insurance company will send an investigator to determine that the bike is indeed stolen and not traceable. If it is found that the bike was stolen due to your negligence or there is any other foul play involved, your vehicle insurance claim may be turned down. But if everything is proper and in place, you need not worry. You just have to be patient through the process and wait until the insurer completes the investigation. The process may take around 90 days.

Amount Decided After Calculating the IDV

The IDV is decided before you buy the vehicle insurance plan. If you opt for a lower IDV, your insurance premium will be lower, but you will get a lower claim amount as well. Keep this point in mind when you decide the IDV when buying the motorcycle insurance plan.

Zero Depreciation Rider Applicable

Zero depreciation is a very handy bike insurance rider. If you have this rider, you will get the full value of the bike reimbursed, irrespective of its age. So do remember to get this very useful two-wheeler insurance rider when getting the coverage.

Not Applicable on the Lapsed Plan

You cannot make a theft claim on a bike insurance policy that has lapsed. Even if the insurance policy stays lapsed for one day and the theft takes place on that very day, you cannot file a claim. This is why it is so crucial for you to get the motor insurance renewal done on time. You can never tell when misfortune strikes, so it’s best to stay covered every single moment.

These are the important features of a bike insurance theft cover that you must understand and remember. If you have any doubts, speak to your motor insurance provider and get your queries resolved.

The Process to File a Claim

If your bike is stolen, you need to follow these steps to get the claim:

File an FIR

You need to file an FIR at the earliest. A copy of the FIR would be needed to be submitted as a key document when raising the motor insurance claim.

Inform the insurer

You need to call your insurance provider as soon as you realize the bike is stolen and inform them about the theft.

Inform the RTO

Next, you need to inform the local RTO about your bike being stolen.


You need to submit the relevant documents, along with the motor vehicle insurance claim form, to your insurer. You also need to submit the original keys of the bike with the papers.

No trace report

You have to obtain the no-trace report from the police. This document states that the investigation is over and your bike is indeed untraceable. This is the most important document needed to get the two-wheeler insurance claim processed.

It is not difficult for you to complete these steps. So be methodical and take your time. avoid making mistakes when initiating a bike insurance claim. Your job will then become a lot simpler.

Final word

Bike thefts have become very common these days. They are way more prevalent than car thefts. It is also difficult to recover a stolen bike as the parts are often dismantled and the unit becomes untraceable. You, therefore, have to have a comprehensive bike insurance cover to keep your bike secured. If due to an unfortunate event your vehicle does get stolen, you can get the insurance claim and replace the vehicle with a new one at the earliest. So go online, compare insurance quotes and buy a good bike insurance policy right away.

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