Bike insurance premiums need to be paid regularly if you want to avail maximum benefits from them. However, the fact that you have to pay regular premiums in the first place, could lead to the thought of buying cheap insurance.

When it comes to buying insurance, one must not compromise on the quality by merely opting for the cheapest two-wheeler insurance — just because the insurance premiums are a tad bit higher in other places. One must judge well; it is not that the cheapest two-wheeler insurances do not have good features — it is just a matter of finding a trusted place to buy it. 

Here are some of the hacks that you can apply to get the lowest premium for your bike insurance policy.

Choosing the right bike

If you are looking for low premiums after deciding to buy bike insurance online, then the first thing that you can do is try to be simple about your choice of bike. An expensive bike, as a rule of thumb, attracts higher premium rates. If you want to buy a costly bike, such as a sports bike or that dream cruiser, then getting cheap insurance might be out of the question.

If you choose a bike that is favoured by your insurance company, then you will inevitably end up saving more money on your bike insurance premiums. However, at the end of it, it is your call.

Making a thorough comparison

It is often that people do not compare insurance plans and end up compromising on features while paying higher costs at the same time. It is advisable that you don’t fall for those commercials that are always aired on TV or to listen to any advice that people give you, without doing your own research.

The benefits and pricing structure of bike insurance plans vary with companies. It would be best if you put effort into comparing different insurance policies so that you get the best deal out there — one which does not compromise on the features.

Keeping your bike safe and secure

Bikes get stolen. If you are not too cautious about keeping your bikes safe, then robbers will have their eye on it, and before you even realize, it will be gone.

To make sure that such thefts do not happen, you should park your bike at safe parking places. If you have a bike for your garage, make it a point to have a good lock system.

Added bike safety can also help you reduce the amount you spend on premiums for your bike insurance plan. If you decide to install an anti-theft device on your bike, then you can avail a discount of up to 2.5 percent on the premiums that you pay. Having such a device installed reduces the risk of theft, manifold, and provides a sort of financial security to the insurance companies. A stable anti-theft system discourages thieves from stealing your bike as they can be easily tracked.

Availing No Claim Bonus

A No Claim Bonus (NCB) is paid to you if you have not made any claim in a single financial year. It is perhaps the best feature of a bike insurance policy. You can have this NCB accumulate over the years to bring down the cost of your insurance premiums significantly.

However, make sure that you pay your premiums on time when you buy bike insurance online. A delay in premium payment could dissolve your prospects of availing NCB.

Joining a club

No, we are not talking about joining a club like the notorious Hells Angels.

The Automobile Association of India (AAI) is an organization that is approved by the Insurance Regulatory and Development Authority of India (IRDAI). If you become a member here, then you can get up to 5 percent concession on your damage premiums.

Besides, joining a club like this opens up new doors to taking riding lessons — it even becomes easier to get a license. Moreover, an adequately verified means of taking bike lessons will only open up doors to lesser accidents, thus increasing your chances of filing NCB on your two-wheeler insurance.


Having the right insurance, such as the one on Finserv MARKETS, is extremely important. When you buy bike insurance online on Finserv MARKETS, you get access to cashless servicing across numerous service centers in India.

Besides, the cheapest two-wheeler insurance on Finserv MARKETS also provides you 24×7 support — being ready for your assistance in any weather — be it rain, hail, or storm. You can be assured that there is no involvement of any third party that could lead to any extra charges.Finserv MARKETS also offers comprehensive insurance plans at affordable premium amounts.