Bike Insurance Calculator: Two Wheeler Premium Estimate

What Is Bike Insurance?

Bike insurance (two-wheeler insurance) is a policy that covers third-party liability, and optionally your own vehicle, against accident, theft, fire, and natural calamities. Third-party cover is a legal requirement for every registered two-wheeler in India.

Under Section 146 of the Motor Vehicles Act, 1988, riding without at least a valid third-party policy is an offence. A comprehensive policy adds own-damage cover on top of that legal minimum, protecting your own bike as well as third parties.

The Insurance Regulatory and Development Authority of India (IRDAI) fixes the third-party premium by engine cc, uniform across every insurer, while the own-damage premium and add-ons vary by insurer.

Bike Insurance Premium Formula

Total Premium = (Third-Party + Own-Damage x (1 - NCB%)) x 1.18

IDV = Ex-showroom price x (1 - depreciation%). Own-damage premium = IDV x own-damage rate (typically 2-3%). NCB reduces only the own-damage portion. GST at 18% applies to the full total, after the NCB discount.

Worked example: A 75-150cc scooter with a Rs 85,000 ex-showroom price, 1 year old (15% depreciation), gives an IDV of Rs 72,250. At a 2.5% own-damage rate, that is Rs 1,806 own-damage premium. With 1 claim-free year (20% NCB), own-damage drops to Rs 1,445. Add the Rs 714 third-party premium for a Rs 2,159 subtotal, plus 18% GST (Rs 389), for a total premium of Rs 2,548.

Third-Party Bike Insurance Rates by Engine CC

These are the last officially confirmed IRDAI third-party rates, effective since April 1, 2022. A revision has reportedly been under review since 2025 but had not been notified at the time of writing, so confirm the current rate with any insurer before buying.

IRDAI third-party 2-wheeler premium by engine cc, 1-year policy
Engine Capacity	1-Year Premium
Up to 75cc	Rs 538
75cc - 150cc	Rs 714
150cc - 350cc	Rs 1,366
Above 350cc	Rs 2,804

IDV and Age-Based Depreciation

IDV only affects your own-damage premium, not third-party, since third-party is a flat cc-based rate. IRDAI fixes the depreciation schedule so every insurer arrives at the same IDV for the same ex-showroom price and age.

IRDAI IDV depreciation schedule by vehicle age
Vehicle Age	Depreciation
Not exceeding 6 months	5%
6 months to 1 year	15%
1 to 2 years	20%
2 to 3 years	30%
3 to 4 years	40%
4 to 5 years	50%
Beyond 5 years	Mutually agreed

No Claim Bonus Slabs

NCB rewards claim-free years with a growing discount on own-damage premium only. It belongs to you, not the vehicle, so selling your bike and buying a new one carries your NCB forward if you insure the new bike within the required window.

NCB discount by consecutive claim-free years
Claim-Free Years	NCB Discount
1 year	20%
2 years	25%
3 years	35%
4 years	45%
5+ years	50%

Third-Party vs Comprehensive: What's the Difference?

Third-party vs comprehensive coverage
Feature	Third-Party	Comprehensive
Legal requirement	Meets the minimum	Meets the minimum
Covers third-party injury/damage	Yes	Yes
Covers your own bike	No	Yes, against accident, theft, fire
Premium	Fixed by IRDAI (cc-based)	Third-party + own-damage (insurer-set)
NCB applies	No	Yes, on own-damage portion

Premium Estimate by Popular Bike Models

These are illustrative estimates using a 1-year-old vehicle, no NCB, a 2.5% own-damage rate, and comprehensive cover, not quotes from any specific insurer. Exact premiums vary by insurer, city, and add-ons chosen.

Illustrative comprehensive premium by model type, 1-year-old, no NCB
Model Type	Ex-Showroom	Est. Total Premium
Splendor-class 100cc	Rs 75,000	Rs 2,723
Activa-class 110cc	Rs 85,000	Rs 2,974
Pulsar-class 150cc	Rs 1,15,000	Rs 3,726
Royal Enfield-class 350cc	Rs 2,10,000	Rs 8,574

GST on Bike Insurance

GST on motor insurance, including two-wheeler policies, is 18%, applied to the total premium after any NCB discount. This is unchanged even after the 2025-26 GST reform that reduced GST on individual life and health insurance premiums, since motor insurance was not part of that specific relief.

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How to Reduce Your Bike Insurance Premium

Protect your NCB: pay small repair bills yourself rather than filing a claim, since one claim resets your bonus to zero.
Choose a voluntary deductible: agreeing to pay a fixed amount out of pocket per claim lowers your own-damage premium.
Set an honest IDV: a higher IDV raises your premium for a payout you are unlikely to ever collect in full.
Compare insurers at renewal: own-damage rates are not standardised, so quotes can differ meaningfully for the same bike.

Bike Insurance Add-ons

Common comprehensive policy add-ons
Add-on	What It Covers
Zero Depreciation	Removes wear-and-tear deduction on plastic and rubber parts during a claim
Engine Protection	Water ingress and oil leakage damage not covered by a standard policy
Roadside Assistance	Towing, fuel delivery, and minor on-spot repair
NCB Protection	Preserves your accumulated NCB even after one claim in a policy year

Where to Buy Bike Insurance

Two-wheeler insurance in India is underwritten by IRDAI-regulated general insurers, including ICICI Lombard, HDFC Ergo, Bajaj Allianz, Tata AIG, Reliance General, Digit, Acko, National Insurance, United India Insurance, New India Assurance, and SBI General. Aggregators such as Policybazaar compare quotes across these insurers rather than underwriting policies themselves.

Limitations of This Calculator

Third-party rates may have changed. The rates shown are the last officially confirmed IRDAI figures from April 2022. A revision has been discussed since 2025 but was not confirmed at the time of writing.

Own-damage rate is an assumption, not a quote. Each insurer prices own-damage independently based on your city, the specific bike model, and your profile, so the real premium from any one insurer can differ from this estimate.

Add-ons are not included. Zero depreciation, engine protection, and roadside assistance each add to the premium shown here.

How to Use This Bike Insurance Calculator

Enter your bike's ex-showroom price: this is the base value your IDV is calculated from.
Select engine cc and vehicle age: cc sets your fixed third-party premium; age sets IDV depreciation.
Select claim-free years and policy type: claim-free years set your NCB discount; choose third-party only or comprehensive.
Read the estimated premium: the breakdown shows third-party, own-damage after NCB, GST, and the total.

Frequently Asked Questions

Is bike insurance mandatory in India?

Yes. At minimum, third-party bike insurance is legally mandatory under Section 146 of the Motor Vehicles Act, 1988 for every two-wheeler on Indian roads. Riding without at least a valid third-party policy is a punishable offence, with fines that increase for repeat violations.

What is the third-party bike insurance premium for my cc?

IRDAI fixes the third-party premium by engine capacity, not by insurer, so it is identical everywhere. The last officially confirmed 1-year rates, effective since April 2022, are Rs 538 for up to 75cc, Rs 714 for 75-150cc, Rs 1,366 for 150-350cc, and Rs 2,804 above 350cc. A revision has reportedly been under review since 2025 but was not confirmed at the time of writing, so verify the current rate before buying.

What is IDV in bike insurance?

IDV (Insured Declared Value) is the maximum amount your insurer will pay if your bike is stolen or damaged beyond repair. It is calculated as the manufacturer's ex-showroom price minus depreciation based on the bike's age, and it is the figure your own-damage premium is calculated on.

How is IDV calculated based on the age of my bike?

IRDAI mandates a fixed depreciation schedule: 5% for a bike up to 6 months old, 15% for 6 months to 1 year, 20% for 1-2 years, 30% for 2-3 years, 40% for 3-4 years, and 50% for 4-5 years. Beyond 5 years, the IDV is mutually agreed between insurer and owner rather than fixed by a schedule.

What is No Claim Bonus (NCB) in bike insurance?

NCB is a discount on your own-damage premium for every consecutive claim-free year, starting at 20% after 1 year, rising to 25% after 2 years, 35% after 3 years, 45% after 4 years, and capping at 50% from 5 years onward. NCB belongs to you as the rider, not the vehicle, so it transfers if you sell your bike and insure a new one.

Does NCB reduce my third-party premium?

No. NCB only applies to the own-damage portion of a comprehensive policy. The third-party premium is a flat, IRDAI-fixed amount by engine cc and does not change with your claim history.

What is the difference between third-party and comprehensive bike insurance?

Third-party insurance covers only damage or injury you cause to another person or their property, and is the legal minimum. Comprehensive insurance adds own-damage cover for your own bike, protecting against accidents, theft, fire, and natural calamities, at a materially higher premium.

How much GST applies to bike insurance premium?

GST on motor insurance, including two-wheeler insurance, is 18%, applied on top of the total premium (third-party plus own-damage, after any NCB discount). This rate is unchanged even after the 2025-26 GST rate reforms that reduced GST on individual life and health insurance.

What is a good own-damage premium rate to expect?

Own-damage premium typically runs 2-3% of your bike's IDV per year, though the exact rate is set by each insurer individually and is not fixed by IRDAI the way third-party premium is. A higher IDV means a higher own-damage premium, since the insurer is on the hook for a larger payout in a total loss.

How can I reduce my bike insurance premium?

Build your No Claim Bonus by avoiding small claims you can pay out of pocket, choose a voluntary deductible if your insurer offers one, and set the IDV honestly rather than inflating it, since a higher IDV means a higher own-damage premium for a benefit you will rarely fully use. Comparing quotes across insurers before renewal also helps, since own-damage rates are not standardised.

What are common bike insurance add-ons?

Zero depreciation cover removes the deduction for wear-and-tear on plastic and rubber parts during a claim. Engine protection cover pays for water ingress or oil leakage damage not covered by a standard policy. Roadside assistance covers towing, fuel delivery, and minor on-spot repairs. Each add-on increases the premium and is optional on top of a comprehensive policy.

Which insurers sell two-wheeler insurance in India?

Two-wheeler insurance is sold by general insurers including ICICI Lombard, HDFC Ergo, Bajaj Allianz, Tata AIG, Reliance General, Digit, Acko, National Insurance, United India Insurance, New India Assurance, and SBI General, among others, all regulated by IRDAI. Aggregators like Policybazaar compare quotes across these insurers rather than being insurers themselves.

Can I renew bike insurance online?

Yes. Every major insurer and aggregator offers online renewal, where you enter your registration number and existing policy details, and the system pulls your NCB and prior claim history to generate a renewal quote. Renewing before your existing policy lapses preserves your accumulated NCB.

What happens if my bike insurance lapses?

If a comprehensive policy lapses, you lose the accumulated No Claim Bonus on renewal in most cases, and driving without at least third-party cover is a legal offence with fines. Insurers may also require a fresh vehicle inspection before issuing a new policy after a long lapse.

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Disclaimer: All calculations on this page are indicative only. Third-party premium reflects the last officially confirmed IRDAI rate (effective April 2022); a revision has reportedly been under review since 2025 but was not confirmed at the time of writing. Own-damage premium rate, add-ons, and any insurer-specific discounts are not standardised and vary between insurers. This calculator is for educational and planning purposes only and does not constitute insurance advice or a quote. Confirm the exact premium with a licensed insurer before purchasing a policy.