The cycle has been a popular vehicle in India. It is cheap, environment friendly and requires minimal maintenance. Apart from being used for transportation, people in India buy cycles for leisure and workout purposes as well. There are various models of cycles available in India up to a market value of Rs. 8 Lakh. Insurance for a cycle in India is not very common, because there is a lack of awareness about its perks and benefits.


Cycle insurance in India turns out to be quite beneficial during theft, accident, etc. One can choose from a wide range of bicycle insurance in India at the Bajaj Markets app. Bajaj Markets is one of the trusted platforms where you can find tailored insurance plans from different providers as per your need.

How Does it Work?

The simplest and cheapest bicycle insurance in India available online is for a tenor of a year offering coverage of up to Rs. 50,000.


  • One can visit the official website of insurers

  • Select cycle insurance

  • Read the terms and conditions of the policy like exclusions, inclusions, etc.

  • Select the plan and payment mode

  • Pay the premium

  • Once the premium is paid, your policy will be confirmed

  • You will also receive all the details and payment receipt of your policy payment on your registered mobile number and email address.

Reasons to Buy This Plan

To avoid various risks one needs to take planned precautions which is why one must have insurance for a bicycle in India -

1. Theft Protection -

Cycle thefts are very common and security against that is necessary. All cycle insurances in India provide cost coverage in case of theft and robbery of the cycle. The good part is that the place of theft does not affect the coverage but the reason for theft does. If the theft has occurred due to the irresponsible behaviour of the owner like not using the lock, then the claim won’t be entertained.

2. Travelling Expenses -

Expenses incurred during a bicycle road trip are also partially covered by the insurance. This depends on the type of insurance you have enrolled for. Generally, the cost covered is for 60 days of travel which is ideal for small-break trips.

3. Personal Injury -

Facing injuries like small cuts and bruises are general and common but there are times when the injuries are a lot more serious and need detailed attention. In such situations, the medical bills can drain all your savings and disturb financial planning. To avoid such incidents, one needs cycle insurance in India which will cover all the medical expenditure so that the patient only focuses on the treatment and not on the bills.

4. Natural Calamities -

Apart from accidental damage and theft damage, another risk factor is the natural calamities that can damage the cycle. Cycle insurance in India also safeguards the coverage for damages caused by natural factors like earthquakes, floods, etc.

Key Features

Before investing in any kind of insurance, it is very important to be well-versed with all the information about the same. Here are some key features of cycle insurance in India.

  • Coverage Limit -

The cost coverage limit of bicycle insurance in India generally ranges between Rs. 25,000 to Rs. 2,00,000 depending on the type of insurance policy you have enrolled for.

  • Global Coverage -

Cycle insurance is a policy applicable worldwide. The duration of the accidental death cover is limited to the time while the individual is riding the bike.

  • Multiple Payment Gateway -

A policyholder can pay the insurance premium through various payment options like net-banking, UPI, bank transfers, mobile wallets, credit cards or debit cards.


Many benefits come along with cycle insurance in India, some of them are:

1. Third-Party Expense Coverage -

A cycle insurance not only provides financial security for your cycle but also provides financial relief to the third party injured in case of an accident or mishap. Apart from financial liabilities, cycle insurance is also helpful during legalities that might arise in such incidents.

2. Systematic and Comprehensive Protection -

The entire insurance claim process is designed in a very systematic manner which includes details of all the elements of the insurance. The claim process is easy and user-friendly so that the policyholders don’t have to struggle to meet their expenses in times of emergency.

3. Zero Additional Charges -

Hidden additional charges are generally one of the major disadvantages in any policy. In the case of cycle insurance, there are no hidden additional charges that the policyholder has to pay. The policyholder is liable only to pay the premium amount at regular intervals.

4. Risk and Stress-Free -

Cycle insurance in India offers a two-fold advantage, i.e relief from stress and potential risk. The policy provides the holders with an assurance of financial security, and therefore with mental peace. In tough times like accidents, the holder will just have to focus on self-health and treatment without worrying about other financial issues aroused due to the accident.


Here is a list of all the points that fall under cycle insurance in India:

  • Accidental Damage -

Any damage caused to the cycle due to accidents is included in cycle insurance.

  • Natural Activities -

Any damage caused due to natural calamities including fire, flood, or earthquake are covered under cycle insurance.

  • Theft -

In case your cycle is stolen, you are liable to claim cycle insurance.

  • Third-Party Damages -

If any damage is caused to the third party in any mishappening, the cost is also included in cycle insurance.


Here is a list of all the points that do not fall under cycle insurance in India

  • Wear and Tear -

A cycle is an object of daily use and it is very normal to suffer wear and tear due to regular use. This natural tear and damage is not included in cycle insurance.

  • Tires -

The tires of the cycle are made of rubber and therefore get damaged easily. Any kind of damage or puncture in the cycle tire is also not included in cycle insurance.

  • Locking Issues -

If the reason for theft or misplaced cycle is the owner’s negligence while locking the cycle, then it would also not be covered under bicycle insurance.

  • Out-of-Age Limit Claim -

The insurance claims made by any individual below the age of 18 years or above the age of 70 years are also not accepted under cycle insurance in India.

  • Previous Medical Conditions -

Any individual can not claim insurance to cover hospitalisation expenses of any previous accident.

Claim Process

Here is a step-by-step process to claim cycle insurance in India -


  • Any applicant claiming for cycle insurance in India must submit a written application with all the information about the accident within 30 days of the date of the accident. The applicant will also have to submit the required documents within 30 days of the date of notice issued.

  • It is important to consult a medical expert. Follow the treatment advice and instructions provided by the expert.

  • You will be provided with medical advisors who will continue the medical examination process.

  • The applicant must be able to provide the company with all the required documentation and information. This would be an important part of the investigation procedure and would help the company process the payment quickly.

  • In case of demise of the insurance policyholder, the individual claiming for insurance cover should submit a written application on an immediate basis along with the post mortem reports.


Insurance of cycles in India can be very useful. It renders financial assistance during emergencies and unfavorable situations. Bicycle insurance in India can be bought at platforms like Bajaj Markets which have pocket-friendly Pocket insurance plans, endowment plans, and term plans by various insurers providing maximum benefits for a small premium. If you haven't got your bicycle insured, get insurance now.


What is cycle insurance?

Cycle insurance is a policy that ensures financial security in case of theft, accidental damage, or natural activities. It is important to note that cycle insurance in India is only applicable if the damage is caused while the individual is cycling.

What is the age limit to get cycle insurance?

The minimum and maximum age to get cycle insurance is 18 years and 70 years respectively.

Which is the best cycle insurance in India?

There is no such ranking that can tell which is the best cycle insurance. For any individual getting cycle insurance, it is advised to research and review all the various available insurance policies and then select.

Will my bicycle insurance cover the expenses of the third party?

Yes, in case the third party has faced some injuries due to the accident, the cost coverage is included in the cycle insurance. It also helps in the legal formalities that might arise in such situations.

What factors should I look into before choosing cycle insurance?

The various important factors that one must take into consideration before choosing cycle insurance are:

  • Coverage Level

  • Type of payment and repayment methods available

  • Premium rates

  • Inclusions and exclusions

  • Worldwide applicability

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