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  • Theft Cover in Two Wheeler Insurance

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    Walking past the showroom, your eye is caught by the stunning bike in the display. You have to have it, and the elation once you bring it home is something you will never forget. Your dream bike is finally yours and you can’t wait to take her out on a spin.

    One fine day you take your precious bike out as usual, only to return to the parking spot to find it gone! The horror of that moment is incomparable.

    While this is just an illustrative example, the theft or loss of your bike is very real and could affect anybody. So how do you protect your bike and your pocket in the event the bike is stolen?

    Theft cover in two wheeler insurance to the rescue.

    What is Theft Cover?

    As the name suggests, theft cover is a type of insurance cover that insures your bike or two wheeler in case of theft or burglary. In such a scenario, the insurance company would cover the cost of the burglary or the cost of a replacement in case of theft. If a loan as taken out on the bike which is still to be repaid, the insurance company will pay the loan amount, with the difference having to be borne by you. Sounds too good to be true? But that’s exactly what theft cover under a comprehensive two wheeler insurance policy will give you.

    In the event your bike is stolen, there are certain steps that have to be followed before the insurance company reimburses you for the stolen bike.

    Filing a Claim For a Stolen Two Wheeler

    The process to file a claim in case your two wheeler is stolen is listed below:

    • File an FIR (First Information Report) at the nearest police station. This is to be done as soon as you realise the two wheeler has been stolen.
    • Inform the insurance company- the insurance company is to be informed as early as possible. Call the company on their dedicated helpline and provide details regarding the incident as well as the vehicle number and your policy details such as policy number, name of the policyholder etc. Try to be as thorough as possible when describing the incident that led to the theft.
    • Inform the RTO (Road Transport Authority)-  for all theft cases, the RTO is to be informed, from where you will have to collect the transfer papers.
    • Document submission- after notifying the relevant authorities and police, you are required to submit a list of documents to the insurance company on the basis of which the claim will be registered. The documents are listed below:
      • Copy of the vehicle’s registration certificate.
      • Copy of the policy document.
      • Copy of the policyholder’s driving licence.
      • Original FIR document.
      • Claim settlement form, duly filled in and signed.
      • RTO transfer papers.
      • Vehicle’s original keys.
    • Once the documents have been submitted, the insurance company will process them and verify them.
    • The police will issue a ‘no trace report’ attesting that the stolen vehicle could not be traced. It is only once the police hand over this document that the insurance company will process the claim.
    • Based on the documentation, the insurance company might choose to hire an investigator to look for the stolen vehicle.
    • Once the investigator confirms the vehicle cannot be located, the insurance company will take a decision on the claim filed and reimburse the IDV (insured Declared Value) amount or pay the loan (if applicable).

    The IDV amount would depend on the premium amount paid. The lower the premium amount, the lower will be the IDV of the vehicle. However, it is advisable to pay a slightly higher premium and maintain an IDV that will cover the cost of your two wheeler in the event it is stolen, especially if you reside or work in theft-prone areas.

    Theft Cover In Two Wheeler Insurance Reviews

  • Page 1 of 50 1 2 3 4 5
    • ICICI Lombard Two Wheeler Insurance
      "Good insurance policy"
      0.5 5.0/5 "Blown Away!"
      I did the insurance and keeping the paper. I'm not aware of the plans and benefits the policy. I have purchased this insurance nearly 1 year before. I made the premium amount of Rs. 1600 and i used to make the payment through cash. I never experienced of the claiming process in ICICI hence i did not speak with the customer care service also.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 19, 2018
    • Bharti Axa Two Wheeler Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I have my two wheeler insured with Bharti Axa from last 11 years, i am happy with the coverage an plan benefits of this insurance policy. A premium of Rs 1100 has to be paid for this insurance policy. I have not claimed anything so far from this insurance policy.
      Was this review helpful? 1
      , chennai
      Reviewed on Jul 18, 2018
    • Bharti Axa Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have taken a two wheeler insurance with Bharti Axa from last 7-8 months, i am happy with the coverage and plan benefits of this insurance policy. I have not claimed anything so far from this insurance policy. I have to pay a premium of Rs 1400 for this insurance policy.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 18, 2018
    • Oriental Insurance Two Wheeler Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've been using the Bike Insurance policy with the Oriental Insurance Company. I am paying a premium of 2000, the policy covers the entire bike. I do not have any claim experience with the policy either. So far it has been a good experience with their services.
      Was this review helpful? 2
      , bangalore
      Reviewed on Jul 17, 2018
    • National Insurance Two Wheeler Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I have a health insurance policy with National Insurance from last 15 years, it is a family health policy with the coverage value of Rs 3 lakhs. I have not claimed anything so far from this insurance policy. I am not aware of the premium amount as the company pays it.
      Was this review helpful? 2
      , new delhi
      Reviewed on Jul 17, 2018
    • HDFC Ergo Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my two wheeler insured with HDFC ERGO from last 7 years, i am happy with the coverage value of this insurance policy. A premium of Rs 800 has to be paid every year for this insurance policy. I have not claimed anything so far from this insurance policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 17, 2018
    • Bajaj Allianz Two Wheeler Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've a bike insurance policy with the Bajaj Allianz. I am paying a premium 1200 per year. The policy covers the entire bike. I never had any claim experience with the policy. I'll have to wait and see how they respond to my claim requests in future.
      Was this review helpful? 2
      , kolkata
      Reviewed on Jul 16, 2018
    • HDFC Ergo Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my two wheeler insured with HDFC ERGO from last 6 years, i am happy with the coverage value of this insurance policy. I pay a premium of Rs 1200 for this insurance policy. I have not claimed anything so far from this insurance policy.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jul 16, 2018
    • Bajaj Allianz Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      My two wheeler insurance is with Bajaj Allianz from last 9 months, i am happy with the coverage value of this insurance policy. A premium of Rs 3000 has to be paid for this insurance policy. I have not claimed anything so far from this insurance policy.
      Was this review helpful? 4
      , kolkata
      Reviewed on Jul 13, 2018
    • Reliance General Two Wheeler Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      My bike is insured the Reliance General insurance. I have paid a premium of 4000 for three years, I do not have any claim experience and the policy covers the entire bike. So far it has been a hassle free experience with the policy and I'll have to wait and evaluate their services in future.
      Was this review helpful? 2
      , kochi
      Reviewed on Jul 13, 2018
    • Bajaj Allianz Two Wheeler Insurance
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      I was using the Bajaj Allianz bike insurance policy initially. The policy was very good, It was approaching maturity and I changed to a different provider. I do have a claim experience with the policy. The claim process was seamless and hassle free. It is a recommendable bike insurance provider.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jul 12, 2018
    • Reliance General Two Wheeler Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      My bike is insured with the Reliance general Insurance. I am paying a premium of 1500 year, the policy covers only metal parts. I do not have any claim experience with the policy and so far it has been a smooth experience. I'll have to wait and see about their approach in case if I will have any claims in future.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 12, 2018
    • Bajaj Allianz Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my two wheeler insured with Bajaj Allianz from last 1.5 years, i am happy with the coverage value of this insurance policy. I have not claimed anything so far from this insurance policy. I am not aware of the premium amount but i am satisfied with the plan benefits of this policy.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jul 11, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my two wheeler insured with ICICI lombard from last 8-9 years, i am happy with the coverage value of this insurance policy. I have not claimed anything so far from this insurance policy. I pay a premium of Rs 1200 for this insurance policy.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 10, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      My bike is insured with the ICICI Lombard General Insurance. I pay a premium of 1600 annually. The the policy covers entire bike. I do not have any claim experience with this policy either. So far it has been a smooth experience with their services.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jul 10, 2018
    • New India Two Wheeler Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      My bike is insured with the New India Insurance company. I pay a premium of 1200 per year, I do not have any claim experience so far and The policy covers the entire bike. I make payments online. Overall it has been a good experience so far.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 10, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Average Policy"
      0.5 1.0/5 "Really Bad"
      I have taken two wheeler insurance from Icici Lombard general insurance . Am satisfied with the premium amount what am paying . I made the payment through on-line for one year. Its an average policy wont be recommending . Their customer service and response is not up to the mark.
      Was this review helpful? 0
      , greater noida
      Reviewed on Jul 10, 2018
    • United India Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I hold a two wheeler insurance with United India Insurance from last 7 years, i pay a premium of approx Rs 800 for this insurance policy and it has to be renewed every year. I have no claim experience so far from this insurance policy and i am happy with the coverage value.
      Was this review helpful? 1
      , guwahati
      Reviewed on Jul 09, 2018
    • Bajaj Allianz Two Wheeler Insurance
      "The Service needs Improvements"
      0.5 2.5/5 "Just OK"
      I've a bike insurance policy with the Bajaj Allianz for which I pay a premium of 1600 per year. I got accident, no service was provided. I am not at all happy with their services. Overall they need to be more customer oriented and provide proper assistance to their customers.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 06, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my two wheeler insured with ICICI lombard from last 5 years and it is a good policy to use. I have no claim experience so far from this insurance policy. I pay a premium of Rs 850 which has to be paid every year and the coverage value is good in this policy.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 06, 2018
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