Importance Of Theft Cover in Bike Insurance

In India, due to the poor road conditions, traffic and congestion everywhere, a bike is a preferred  mode of commute. Parking is easy with a two-wheeler in possession, and this is also an affordable option for commuting compared to four-wheelers. There are some individuals, however, who are fond of superbikes as well. Brands like Harley Davidson and KTM are two of the most favourite options for high-end bike lovers in the country. So, if you own a high-end bike like a KTM, do not forget to opt for your KTM bike insurance with the relevant coverage to safeguard your expensive vehicle.

Nevertheless, keeping in mind the conditions of the Indian roads, having bike insurance is a must for every two-wheeler owner. A mishap, like a third-party accident or theft, may happen at any point in time. Therefore, to save your hard-earned money and ensure the safety of your most prized possession, opting for at least third-party bike insurance online is advisable.

Insurance for Bikes – How to Find the Right One?

When you search for online insurance for a two-wheeler, you will be overwhelmed with the options in hand. But finding an appropriate insurance cover that will suit all your requirements will not be difficult if you compare the options properly. While most men would go for simple bike insurance, it is important to look around before choosing a plan that perfectly suits your insurance needs.

The first thing which you need to go through are the terms and conditions of bike insurance online. Then, read cover to cover to be aware of every single clause attached to the particular policy. Also, be well aware of the claim procedure from the very beginning. A comprehensive bike insurance with a theft cover would be prudent if you are looking to heighten the safety of your bike.

What is a Theft Cover in Two-wheeler Insurance?

Suppose you are out on a shopping spree with your girlfriend. You cannot find a slot in the dedicated parking space in the shopping mall and park your bike somewhere on the footpath. You enjoy your time shopping, but when you step out, you get the biggest shock of your life; your bike is gone! You are not sure whether the bike is stolen or towed away by the traffic police. So, what do you do then?

Well, to be on the safe side, having a bike theft insurance cover along with your bike insurance online would keep such worries at bay. Coverage plans from insurers like Tata AIG will provide you with financial coverage in case your bike is stolen. Unfortunately, theft is quite common when it comes to a two-wheeler. Also, it might be disheartening to know that the recovery rate for stolen bikes is less than that of stolen four-wheelers.

So, losing your beloved bike can cost you a bomb if you do not have proper insurance in place. So, to save yourself from such a huge financial blow, it is advisable to opt for a bike theft insurance cover and your comprehensive bike insurance.

Here are a few more reasons why a theft cover is vital for every bike owner in the country –

  • High Risk of Getting Stolen: As stated above, bikes are more prone to theft in India. The reason is, they are easy to move from one place to another. Even with the several anti-theft tools installed, it’s a child’s play for a miscreant to uninstall the same and move the bike elsewhere. Especially when you have invested a lot of money in buying a superbike which may attract attention, purchasing an insurance plan with a theft cover is highly recommended.
  • Lower Recovery Rates: In India, the rate of recovery for stolen vehicles is usually low. But when it comes to the two-wheelers, the rate is lower. So, you need to secure your bike from the moment you bring it home with proper coverage. A comprehensive insurance policy with a theft cover will provide you with a necessary financial cushion during tricky situations.
  • Financial Support: If your bike is stolen, and the police or the insurer cannot recover it, you would be paid the whole amount for which your bike is insured. Losing your two-wheeler is a huge loss, but this kind of financial assistance from online two-wheeler insurance can soothe your heart a little during such difficult times.

Steps to Follow in Case of a Theft

Now that you know how a theft cover along with your insurance plan would help, let’s find out what you need to do in case your bike is stolen. You will need to process a claim first with your insurance company. If you are aware of the claim process terms & conditions, it shouldn’t be hard. Here is a general idea of what you will need to do in such a case:

  • File an FIR: In case of an accident or theft, you will have to file an FIR at your nearest police station before starting the claim process. To file a claim with the insurance company, you must submit a copy of the FIR.
  • Contact the Insurer: In case of a theft, you will not be able to file a claim after a few days. So, it’s better to contact your insurance provider soon after filing the FIR. It would help if you also informed them of your upcoming claim. Then provide them with the necessary details to start the process.
  • Submit Necessary Documents: Once the above steps are done, you’ll have to submit the following documents to the insurance company –
  • Duly filled and signed claim settlement form
  • Original copy of the FIR
  • Copy of the Registration Certificate (RC) of the bike
  • A copy of the Policy document
  • A copy of your driving license
  • Duly signed RTO Transfer papers
  • The original keys of the bike
  • Get the No-trace Report: The last thing you will need to do is to wait for a certificate from the police station stating that the police couldn’t trace your bike. This certificate is usually generated after a month of the theft and is vital for processing your claim.


A theft cover can save your money from an unwanted incident in the future. It is an extremely important policy cover that every single bike insurance holder should opt for. So, once you get in touch with an insurance company for third-party bike insurance or a comprehensive insurance policy, do not forget to include theft cover with the same.