Bike Insurance
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Which bike insurance is best for a new bike?
For a new bike, IRDAI mandates long-term third-party insurance. It is best to…
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What type of bike insurance should I buy?
Third-party insurance: Mandatory, low cost, limited coverage Comprehensive insurance: Recommended, covers own bike…
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Is it compulsory to buy bike insurance in India?
Yes. As per the Motor Vehicles Act and IRDAI rules, every bike must…
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What is bike insurance and why should I buy it?
Bike insurance is a contract between you and an insurance company that protects…
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Is long-term bike insurance mandatory under IRDAI?
Yes. For new bikes, IRDAI mandates long-term third-party insurance of 5 years for…
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What is compulsory personal accident cover as per IRDAI?
IRDAI mandates a compulsory personal accident cover of ₹15 lakh for owner-riders to…
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How is depreciation calculated under IRDAI guidelines?
IRDAI prescribes standard depreciation rates based on the bike’s age, ensuring uniformity across…
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What is IDV according to IRDAI rules?
IDV (Insured Declared Value) is the maximum amount payable in case of total…
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Who fixes bike insurance premium according to IRDAI?
IRDAI fixes third-party insurance premiums. For own-damage premiums, insurers are allowed to decide…