A bike insurance premium is not one fixed number: the third-party portion follows the vehicle's engine-capacity band, while the own-damage portion changes with the bike's IDV, age, location, claims record and selected covers. This guide shows how to read the breakup, reproduce the calculation and compare quotes without confusing a lower price with the same protection.
The central third-party schedule and tax references below are checked as of November 2026. Quote inputs such as own-damage premium, add-ons and IDV remain product- and profile-specific, so the worked calculation is an illustration, not a promise of what any insurer will charge.
Key takeaways
- Third-party insurance is mandatory for a bike used in a public place; the base premium is linked to engine capacity, not to your personal claim history.
- As of November 2026, the verified private two-wheeler third-party base bands run from ₹538 a year for up to 75 cc to ₹2,804 for above 350 cc, before applicable GST.
- Comprehensive pricing adds own-damage cover. IDV, bike age, registration location, model, claims history, deductibles and add-ons can change the quote.
- NCB reduces the own-damage component only. The commonly published scale runs from 20% after one claim-free year to a maximum of 50% after five claim-free years.
- A comparison is meaningful only when the policy type, IDV, NCB, deductibles, add-ons, exclusions and tax treatment match.
- For a complete ownership budget, combine the policy cost with fuel and trip costs using the FuelPrice fuel cost calculator, rather than looking at insurance in isolation.
What a bike insurance premium pays for
1. Third-party liability cover
Section 146 of the Motor Vehicles Act, 1988 says a motor vehicle cannot be used in a public place unless a policy meeting the third-party requirements is in force. Third-party cover is for legal liability arising from injury, death or property damage caused to another person; it does not pay to repair or replace your own bike after an accident.
For a new two-wheeler, the Ministry of Road Transport and Highways directed that five-year third-party cover be issued from 1 September 2018, following the Supreme Court's 20 July 2018 direction. The five-year figures in the table below therefore apply to the new-vehicle single-premium schedule, not to every renewal quote for an older bike.
2. Own-damage cover
Own-damage cover is the part that responds, subject to the policy wording, to loss or damage to the insured bike from events such as an accident, theft, fire or specified natural and man-made risks. A package or comprehensive quote combines this protection with third-party liability; a standalone own-damage policy is a separate product and still needs valid third-party cover.
The own-damage price is not fixed by the engine-cc table. Insurers assess the bike's model and variant, age, IDV, registration location, usage and claims history, then price the selected cover. That is why two quotes can differ even when the registration number and policy period are the same.
Verified third-party bike insurance rates
The following are the latest private two-wheeler bands I could verify in the central schedule as of November 2026. MoRTH's 5 January 2024 amendment changed entries for a commercial three-wheeler category, not these private two-wheeler bands; that conclusion comes from comparing the 2022 rules with the amendment notification. The GST-inclusive column is an arithmetic illustration at 18% using the CBIC services-rate table, rounded to the nearest rupee.
| Engine capacity | 1-year base TP | New bike 5-year base TP | 1-year base plus 18% GST |
|---|---|---|---|
| Up to 75 cc | ₹538 | ₹2,901 | About ₹635 |
| Above 75 cc to 150 cc | ₹714 | ₹3,851 | About ₹843 |
| Above 150 cc to 350 cc | ₹1,366 | ₹7,365 | About ₹1,613 |
| Above 350 cc | ₹2,804 | ₹15,117 | About ₹3,309 |
Source note: The base figures are from the MoRTH 2022 rules and are also displayed by current insurer and comparison pages. The 18% calculation uses the CBIC rate table; a checkout invoice can differ if the applicable tax or rounding changes.
How the comprehensive quote is built
- Start with the cover type. A liability-only policy has the regulated third-party component. A package or comprehensive policy adds own-damage pricing, and optional covers add further line items.
- Identify the bike and RTO. Make, model, variant, engine capacity, registration location and vehicle age help the insurer identify the risk and the relevant IDV range.
- Check the IDV. IDV is the sum insured for the bike's own-damage section. A lower IDV can make the quote appear smaller, but it also lowers the amount available for a total-loss or theft settlement, subject to the policy terms.
- Apply claim history and NCB. NCB is a renewal discount on own-damage premium after claim-free years. It is not a discount on the statutory third-party amount.
- Add deductibles, add-ons and tax. Zero-depreciation, roadside assistance, engine protection or return-to-invoice style covers can change the price and the claim conditions. Voluntary deductibles can reduce the premium but increase the amount borne by the policyholder when an admissible claim is settled.
IDV and the age-based depreciation schedule
IRDAI-hosted two-wheeler policy wording describes IDV as the manufacturer's listed selling price adjusted for depreciation. The age bands below are a reference for fixing IDV for a vehicle up to five years old; beyond five years, the IDV is determined through an understanding between the insurer and the insured under the relevant wording.
| Bike age at policy start | Depreciation used for IDV | What to verify |
|---|---|---|
| Up to 6 months | 5% | Current listed selling price and accessories |
| Above 6 months to 1 year | 15% | Correct purchase and registration dates |
| Above 1 year to 2 years | 20% | Variant and declared accessories |
| Above 2 years to 3 years | 30% | Renewal IDV against the bike's condition |
| Above 3 years to 4 years | 40% | Any change in insurer's IDV range |
| Above 4 years to 5 years | 50% | Policy wording for older or discontinued models |
Source note: The percentages are from an IRDAI-hosted two-wheeler policy wording. The regulator's policyholder material also tells owners to understand IDV, deductibles and depreciation before buying. The percentage is not a promise that every quote will display the same IDV if the model is older, discontinued or has special accessories.
NCB: a discount on own damage, not on TP
NCB is earned for a claim-free policy period and is applied to the own-damage premium at renewal. Independent insurer explanations from SBI General and ICICI Lombard show the same commonly used scale, but the policy schedule and the insurer's terms control the actual entitlement.
| Consecutive claim-free years | NCB on own-damage premium | Does it reduce third-party premium? |
|---|---|---|
| 1 year | 20% | No |
| 2 years | 25% | No |
| 3 years | 35% | No |
| 4 years | 45% | No |
| 5 years or more | 50% maximum | No |
NCB generally follows the insured person rather than the physical bike, so a change of insurer or vehicle can require proof of the accumulated entitlement. A claim, a break in coverage or a mismatch in the declared claim history can affect the discount. Check the renewal notice, previous policy and any NCB certificate before accepting a quote.
Worked rupee example: reading one bike quote
Consider a hypothetical 100–150 cc bike. For this illustration, use the verified third-party base of ₹714 as of November 2026, an own-damage quote of ₹1,200 and add-ons of ₹500. The ₹1,200 and ₹500 are transparent example inputs, not a market promise; online premium examples also use these kinds of line items to show the breakup.
- Own-damage premium: ₹1,200.
- Third-party base premium: ₹714.
- Add-ons: ₹500.
- Subtotal before GST: ₹1,200 + ₹714 + ₹500 = ₹2,414.
- GST at the 18% CBIC rate used for this illustration: ₹434.52.
- Illustrative payable premium: ₹2,848.52, rounded to about ₹2,849.
If the same policy has a 35% NCB, the discount applies to the ₹1,200 own-damage component, not to TP or the add-ons. The own-damage line becomes ₹780, the subtotal becomes ₹1,994, and the illustrative total after 18% GST becomes ₹2,352.92, or about ₹2,353. The insurer's policy wording, tax invoice, rounding and add-on conditions prevail over this arithmetic example.
How to compare two bike insurance quotes point by point
Use the same bike details and policy dates on both quote pages. A lower total can simply reflect a lower IDV, fewer add-ons, a higher deductible or an omitted personal-accident or accessory line.
- Match the policy structure: liability-only, package, comprehensive or standalone own damage.
- Match IDV: compare the declared value and the treatment of accessories, not just the premium.
- Match NCB: confirm the percentage, proof accepted and whether the benefit applies only to own damage.
- Read the deductible: record both compulsory and voluntary amounts for each claim.
- List add-ons separately: note limits, exclusions, waiting conditions and whether a cover applies to your bike's age.
- Check service details: look for the claims process, survey requirements, garage network and the contact route in the policy documents.
- Check the final invoice: it should show base premium, discounts, add-ons and tax clearly.
For riders who use the bike for longer journeys, the insurance comparison is only one part of the trip budget. The FuelPrice road-trip planner can help estimate route distance and fuel needs, while the live fuel-price hub helps keep the running-cost assumption current.
What to check before payment or renewal
- Keep the registration certificate, previous policy schedule, engine and chassis details and any NCB proof together.
- Confirm that the registered owner, address, vehicle number, make, model, variant and engine capacity are correct.
- Compare the IDV with the displayed depreciation basis and ask how accessories are treated.
- Separate the TP amount from own damage, add-ons, deductibles, discounts and GST.
- Check the policy start and expiry dates so there is no unexplained break in cover.
- Read exclusions about licence validity, prohibited use, intoxication, modifications, wear and tear and late notification.
- Before a long ride, keep the policy certificate and other vehicle papers accessible; the FuelPrice road-trip document checklist covers the wider document set.
Bike insurance premium FAQ
Is third-party bike insurance price the same for every insurer?
The base third-party rate is set by the central schedule for the relevant engine-capacity band, so the regulated base is not individually priced by each insurer. The final payable amount can still reflect applicable tax, policy period, product structure and any additional cover.
Does NCB reduce my full bike insurance premium?
No. NCB is a discount on the own-damage component, not on the statutory third-party premium. It also does not automatically reduce add-ons or every other line on the invoice.
Why is one comprehensive quote cheaper than another?
Compare the IDV, own-damage amount, NCB, deductibles, add-ons, limits and exclusions first. A lower total may represent less cover or a higher amount payable by the policyholder during a claim.
Can I use the five-year TP amount for a renewal?
The five-year single-premium figures in the central schedule are for a new two-wheeler. For a renewal, read the existing policy dates and the insurer's current product terms; do not assume that a new-bike table is the renewal amount.
What if I choose a lower IDV to reduce the quote?
IDV is the sum insured for the own-damage section, so it matters most in theft or total-loss situations. Compare the displayed IDV with the insurer's permitted range and the bike's relevant market value before treating a lower premium as an equivalent policy.
Sources
- Ministry of Road Transport and Highways — Motor Vehicles (Third Party Insurance Base Premium and Liability) Rules, 2022 — 25 May 2022
- Ministry of Road Transport and Highways — Motor Vehicles (Third Party Insurance Base Premium and Liability) Amendment Rules, 2024 — 5 January 2024
- India Code — The Motor Vehicles Act, 1988 — official text accessed 15 November 2026
- Ministry of Road Transport and Highways — Compliance of Supreme Court judgment on third-party insurance for cars and two-wheelers — 29 August 2018
- IRDAI — Long Term Two Wheeler Policy Wording, including IDV depreciation schedule — accessed 15 November 2026
- CBIC — GST Goods and Services Rates — accessed 15 November 2026
- SBI General Insurance — NCB Protection Cover for Bike Insurance — accessed 15 November 2026
- ICICI Lombard — Comprehensive Bike Insurance Policy — accessed 15 November 2026
- Business Standard — Non-life insurance premiums rise 10.5% in October, health insurers lead — 13 November 2026
- Unsplash — “A man riding a motorcycle down a street”, photograph by Abhinav Anand — accessed 15 November 2026
This article is for general information only and is not financial, insurance or legal advice.
