IRDAI Fixed Third-Party Premium Rates (2024-25) Engine Capacity 1-Year TP Premium 5-Year TP Premium* Up to 75cc₹538₹2,901 75cc - 150cc₹714₹3,851 150cc - 350cc₹1,366₹7,365 Above 350cc₹2,804₹15,117 *5-year TP for new vehicles only. Rates fixed by IRDAI. 7 Smart Ways to Lower Your Bike Insurance Premium Accumulate NCB: 5 years of claim-free driving gives you 50% discount on own-damage premium. Install anti-theft devices: ARAI-approved devices give 2.5% discount. Buy long-term policy: 2-3 year comprehensive policies cost less per year than annual renewals. Increase voluntary deductible: Opting for ₹1,000-2,500 voluntary deductible lowers premium by 15-25%. Compare online: Online purchases save 10-20% vs agent-bought policies. Remove unnecessary add-ons: Only keep add-ons relevant to your riding pattern. Membership discounts: AA (Automobile Association) members get up to 5% extra discount. Best Add-Ons for Two-Wheeler Insurance Zero Depreciation: Full claim without depreciation deduction. Costs ₹200-600 extra. Best for bikes under 2 years old. Roadside Assistance: Towing, flat tire, and breakdown help. Costs ₹100-300 extra. Pillion Rider Cover: 15 Lakh personal accident cover for your pillion passenger. Costs ₹50-100 extra. Engine Protector: Covers engine damage from waterlogging. Essential during monsoon season. Costs ₹300-800 extra. Frequently Asked Questions Can I ride without insurance in India?

No. Under the Motor Vehicles Act, riding without at least third-party insurance is a punishable offense. The fine is ₹2,000 for first offense and ₹4,000 for subsequent offenses. Your vehicle can also be impounded.

What happens if my bike insurance lapses?

If your policy lapses for more than 90 days, you lose all accumulated NCB discount. You may also need a vehicle inspection before the insurer issues a new policy. Some insurers won't cover any incidents that occurred during the lapse period.

How do I transfer insurance when selling my bike?

When you sell your bike, the insurance policy must be transferred to the new owner within 14 days. Both buyer and seller need to inform the insurer in writing. The buyer can continue the same policy or cancel and buy a new one.

Two-Wheeler Insurance in India 2025: Save Up to 70% on Bike Insurance Renewal

By Admin • Feb 23, 2026 • 📖 4 min read • ✅ Updated Feb 24, 2026

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Admin

Insurance & financial content specialist at PolicyBaazar. Helping Indians make informed insurance decisions with expert analysis and unbiased reviews.

📅 Published: Feb 23, 2026 🔄 Updated: Feb 24, 2026 📖 830 words ⏱️ 4 min read

Two-Wheeler Insurance in India 2025: Save Up to 70% on Bike Insurance Renewal

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