Buy Bike Insurance in Mumbai

Two-wheeler Insurance in Mumbai has been made possible by the Mumbai Cooperative General Insurance (MICO) Act, 2017, which came into effect on May 1, 2018. The Act has made it mandatory for two-wheeler owners to purchase a two-wheeler insurance policy from MICO. The Act has also mandated that two-wheeler owners should carry a minimum of Rs. 30,000 worth of insurance cover when driving their two-wheelers on public roads. Two-wheeler insurance in Mumbai ensures commuters' safety, improves traffic flow, and reduces pollution. The state government of Maharashtra has recently launched a two-wheeler insurance scheme for bikers, which will help bikers in case of an accident and meet their medical expenses. This will help bikers save money and time, and also help them maintain a low-cost mode of transportation.

What is Two Wheeler Insurance?

Two Wheeler insurance is an insurance policy that is specifically designed to cover your two-wheeler if it gets involved in an accident. Usually, this type of insurance is used to cover the cost of the two-wheeler if it is damaged or destroyed, the cost of any repairs, or the cost of your hospital bills if you are injured. Two-wheeler insurance is a system in which a person pays a premium in a lump sum and is then provided with an annual or bi-annual policy at a reduced cost. The policy covers the two-wheeler against damage to the vehicle and/or its components and covers the operator in the case of injuries

Why Do We Need Two Wheeler Insurance?

Two-wheeler insurance in Mumbai helps protect you from the financial consequences of an accident resulting from your failure to possess or maintain a particular level of coverage. The best two-wheeler insurance in Mumbai will provide coverage for your bike against damage to the vehicle and/or its components and will also provide coverage for you in the case of an accident. Most two-wheeler insurance policies offered in the market are designed to provide coverage for the cost of repair or replacement, or the cost of your hospitalization if you are injured while riding your bike. Some two-wheeler insurance policies also provide coverage for the cost of damage to your bike if it is stolen while it is parked.

 renew two wheeler insurance in Mumbai

Having bike insurance in Mumbai is very important. Bike insurance would not only help you to meet the legal requirements but would also help you to protect your prized possession. Bike insurance would provide you with financial coverage against repairs and damages if your vehicle meets with an accident. Thus insuring your bike is a pocket-friendly alternative to ensure its longevity. There are several policies for you to choose from. The two main types of insurance policies are third-party liability and comprehensive policy. The third-party liability policy is a mandatory cover that would protect you against third-party liabilities if you are involved in an accident. The comprehensive policy would protect your bike against non-collision incidents such as damage, theft, calamity along with third-party liability. (56)

Bike Insurance Agents in Mumbai

Want to protect the bike that you just bought? Owning a bike comes with few responsibilities. One of those responsibilities is buying two-wheeler insurance for your bike. According to the Motor Vehicle Act, you are required to have a valid third-party liability insurance policy for your bike. If you live in a metro city like Mumbai, you need to buy a third-party insurance policy for your bike and renew it regularly.
There are several two-wheeler insurance agents in Thane and choosing the right insurance agent is equally crucial for your bike. We at Finvoy can be your most suitable and trusted option. We aim at providing customers with the best insurance policies that meet their needs and their financial requirements through online two-wheeler insurance in Mumbai.

Own vehicle
Other vehicle
Injury to self
Injury to driver of other vehicle
Injury to passenger in other vehicle
Damage to own vehicle due to fire
Damage to own vehicle due to attempted theft
Damage to own vehicle due to natural disaster
Damage to someone else's property
Additional benefits on

Online two wheeler insurance in Mumbai

There are additional covers that you can opt for. The most common is the Zero Depreciation Cover. In general, bike insurance policies cover claim amounts after the deduction of the depreciation cost. But, with the zero-depreciation cover, no additional amount would be deducted from the claim amount and you would receive the full amount in your hand. However, there are a few elements that zero-depreciation cover does not include. These elements include the cost of bike tires and batteries.
Other additional covers include Emergency Assistance Cover. This cover would provide you with 24*7 assistance to deal with emergencies. This cover includes minor on-site repair, tire change, towing charges, bike key issues, and issues related to empty fuel tanks. Buy two-wheeler insurance at Finvoy and get these additional covers with your policies. (57)
Third-party Bike Insurance - What does it cover?

A third-party liability insurance policy provides you with financial protection against liabilities that arise from accidents. Under this policy, if your bike causes any injury to a third party or damages to their surrounding property, we would take care of all your expenses.
This policy however only covers costs that arise from a collision. This type of insurance policy does not cover any cost that might arise from non-collision events such as theft, parking accidents, fire, or more.

How do I renew bike insurance online in Mumbai, especially in lockdown?

If you are living in a metro city like Mumbai, you are required to regularly keep their policies updated. Insurance renewal processes could be cumbersome where bike owners might have to bring their vehicles for getting them insured. However, Finvoy has done away with all the hassle. You can now renew your bikes online through our digital insurance services.
A hassle-free two wheeler insurance online is the ultimate solution to all your insurance renewal tension. We at Finvoy provide paperless, hassle-free online bike insurance to our customers. You can renew your insurance policies while sitting at your home. Once you choose a suitable plan on our website and complete the payment, the policy papers would be sent to your registered e-mail id. (58)

Two Wheeler Insurance in Mumbai

Finvoy provides two-wheeler/ bike insurance in Mumbai up to 50% off. Two-wheeler insurance is nothing but an insurance policy that gives coverage or protection to your two-wheeler. As per Indian government regulation, it is mandatory to have insurance for your vehicle to drive the vehicle on Indian roads.

In case of any exceptional incident like a street mishap, robbery of a vehicle, or losses to third-party property, bike insurance will protect you cover all of the expenses. bike insurance policy not only protects your vehicle but also protects your financial expenses & losses that come because of injuries & damages caused to the bike.

advantages of buying bike insurance in Mumbai
Financial protection against your vehicle damage
No Penalty
Protection against third liabilities
Minimum Documentation
Claim Fast

Bike Insurance in Mumbai

Riding your bike without insurance is a legally punishable offense. Two-wheeler insurance is mandatory in India and has proven to be very profitable.
Two-wheeler travel is most convenient for transportation, so two-wheelers are an important part of the economy. Generally, two-wheeler insurance is required to reduce the risk on the road.

Benefits of buying bike insurance in Mumbai
Natural Disaster Coverage

The risk of Flood and earthquakes is very low, but it is covered in your bike insurance policy. If a premature crisis strikes you, then anyone can claim a loss under a bike insurance policy.

Third-party coverage

The third party is also known as 'Act Only' insurance and is mandatory for everyone under two-wheeler insurance. This third-party insurance is protected from legal obligations.

Protection from man-made disasters

Coverage of bike insurance claims from theft, riot, strike, terrorist attack, road, rail, elevator or elevator damage, man-made disasters

Personal coverage

The owner is also covered by the bike insurance policy and will be compensated in case of injury due to a bike accident. The person can use the money, and the amount of the bike insurance claim can vary in different situations.

Financial coverage

The accident is responsible for the loss of life and vehicle. If an accident takes place then Financial coverage with a bike insurance policy is a protection for the policyholder.

Mandatory by law

The law is the leading authority and citizens abide by it .. Bike insurance policy is a mandatory aspect of Indian law. Under the Motor Vehicle Act, every vehicle owner must have at least third-party two-wheeler insurance cover.

Third-party insurance:

Personal accident cover
Third-party property damage
Third-party liability

Comprehensive insurance:

Natural / Man-made Disasters
Vehicle theft
Untitled design (11)
Documents required to obtain bike insurance online

The list of required documents is as follows:

Proof of Identity (Ration Card / Voting Identity Card, Vehicle License / Passport)
Bike registration certificate
Old policy number for NCB, if any.
Address Proof (Voter Identity Card / Passport / Aadhaar)

Is Two Wheeler Insurance A Good Idea?

The primary benefit of two-wheeler insurance in Mumbai is that it provides insurance coverage for a two-wheeler if it is involved in an accident. This could help you avoid paying large sums of money to fix your bicycle. There are potential drawbacks to two-wheeler insurance, the biggest of which is the high cost. Ensure that you are purchasing a policy that offers all the coverage that you need at a reasonable cost before you buy the policy.
One of the biggest cons of two-wheeler insurance in Mumbai is the cost of the premium. As, two-wheeler insurance costs around 25%-35% of the bike value and with minimum levels of cover, it is very affordable and can be a cheaper option than getting a car or any other form of transportation. However, if you are an inexperienced two-wheeler rider then this may not be the case. The best feature of two-wheeler insurance in Mumbai is that it provides you crash insurance for two years, which covers you against the cost of repairs or replacement as well as hospital bills.

Facilities Provided in Two-Wheeler Insurance

There are two facilities provided by two-wheeler insurance in Mumbai. The first is a medical emergency cover, which provides for an instant cash benefit of Rs. 12,5,000 if you are seriously injured while riding your two-wheeler. The second is a rider’s protection cover, which provides for temporary cover against damage to your two-wheeler. The two-wheeler insurance in Mumbai will provide you with facilities such as towing, emergency roadside assistance, free legal aid, and more if you are in need of such assistance.


The government has not only made it compulsory for every two-wheeler to take out insurance. Insurance also provides the following benefits;

Covers medical expenses incurred during an accident.

It also covers the cost and repair of vehicle parts.

Provides financial protection against theft, fire, and natural disasters.

Yes, Two-wheeler insurance is made compulsory by the government as it protects the individual from the potential damage caused by accidents. Any damage caused by thieves, fires, accidents, riots, explosions and landslides, floods, landslides, storms etc. The vehicle is also protected against damage caused by natural disasters such as.

Depending on the type of policy chosen by the insured, coverage may vary.


Download our app and start investing

Like our website?

Please refer to our Knowledge Bank in the Support Sections for setup related issues.

Scroll to Top