In a country where nearly 75% of two-wheelers remain uninsured, digital platforms are rapidly emerging as the go-to choice for riders. Yet, even among insured two-wheeler owners, many end up paying higher premiums than necessary.
With a few smart strategies, such as choosing the right policy, avoiding unnecessary add-ons, and taking advantage of online discounts, you can enjoy solid coverage at a lower cost.
Let us explore the 10 practical and effective ways to reduce your two-wheeler insurance premium today.
10 Tips That Can Help You Reduce Your Two-Wheeler Insurance Premium
Stop paying more to buy or renew two-wheeler insurance. Go through the following tips to minimise what you pay and get the most value out of it:
- Maintain a Clean Driving Record
In India, the rate of two-wheeler accidents is on the rise. In 2022 alone, around 75,000 bike riders lost their lives due to road accidents. Thus, maintaining a clean driving record does not just save your life, but it also reduces your two-wheeler insurance premiums. Lower premiums are a result of your safe driving habits, which indicate you are a low-risk customer, impacting your premiums.
- Avoid Making Minor Claims
In 2024-25, claims for two-wheeler insurance surged by around 15%, marking the sharpest rise seen in recent years. Moreover, experts predict an additional increase of about 10–12% in the coming year. In a time where claims are rising, be the one to avoid making claims to create a low-risk profile in the eyes of your insurer. This can help you significantly reduce your premium.
- Utilise Your No Claim Bonus (NCB)
The NCB is a significant discount offered when you renew two-wheeler insurance, for not filing any claims during a policy year. This bonus is cumulative and can go up to 50% after five consecutive claim-free years. So, avoid raising claims for minor repairs that you can pay for out of pocket to preserve your NCB.
- Compare Policies Online
You should always compare policies online before you buy or renew two-wheeler insurance. Comparing different plans and insurers ensures that you get what you need, since premiums and coverage options vary significantly among providers.
- Choose the Right Coverage and Add-ons
Choose add-on covers accordingly because even though they enhance your policy, they come at an extra cost. So, analyse all the needs well and then get the insurance policy. Suppose the rainy season is just around the corner; this might be the perfect time for you to get an engine protection cover to save yourself from losses due to risk, such as flooding.
- Opt for a Higher Voluntary Deductible
The deductible is the amount you pay out of pocket when you make a claim. Choosing a higher voluntary deductible will lower your premium, as it reduces the insurer’s liability. However, always make sure you select an amount you can comfortably afford in an emergency.
- Renew on Time
Make sure that you renew your two-wheeler insurance policy before it lapses. Doing this will keep your insurance record clean and prevent you from any kind of fines or additional premiums at the time of renewal. Moreover, renewing on time can save your NCB, which can save you from higher renewal rates later on.
- Select an Appropriate Insured Declared Value (IDV)
IDV is the amount your insurer is liable to pay you if your vehicle goes into total loss. Going for higher IDVs increases the premium amount of your insurance. So, select an IDV that will suit your budget the best for the present as well as the future in case of an unforeseen event.
- Install ARAI-Approved Anti-Theft Devices
Installing ARAI-approved anti-theft devices can lead to a discount on your premium because they reduce the risk of theft. Items such as alarms, GPS trackers, and immobilisers are a one-time cost you will have to pay to keep your vehicle secure, as well as keep your two-wheeler insurance premium lower at all times.
- Inquire About Other Discounts
There are many insurance companies in the market that offer discounts during festive seasons such as Diwali and New Year’s. So, always contact the insurer you are planning to get your insurance from and ask them about any possible discounts that you can get on your two-wheeler insurance premium.
Bottom Line
You can effectively lower your two-wheeler insurance premium by maintaining a clean riding history, maximising your No Claim Bonus (NCB), and comparing plans across insurers. Taking the time to review your options ensures you select a policy that fits your budget and riding needs while still offering reliable protection.
