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Bike theft insurance is a type of insurance policy that provides financial coverage against the theft of your bike or two-wheeler vehicle. In the unfortunate event that your bike gets stolen, you can receive an insurance claim amount which is equal to the Insured Declared Value (IDV) of your bike. However, it’s important to note that bike theft insurance is only available to those policyholders who choose to get a comprehensive bike insurance policy. With the increasing number of theft-related crimes in urban and metro cities, it is important to have bike theft insurance in place.

How to Claim Insurance for Bike Theft

Here are the important steps you will have to follow in order to make an insurance claim for your stolen bike: 

  • Step 1: File an FIR

The first action you should take when you find out that your bike or two-wheeler may be stolen is to file a First Information Report (FIR) at the nearest police station and get yourself a copy. You will need a copy of the FIR to submit for the insurance claim while the police track down the stolen vehicle.

  • Step 2: Inform Your Insurance Provider

Once you have filed an FIR at the nearest police station, contact your insurance provider at once and provide them with all the information about the bike theft, such as the location, details about the bike, paperwork, and a copy of the FIR. The insurance provider will appoint an inspector to look into the theft. Make sure you answer all of the inspector’s questions accurately. Do not withhold any information.

  • Step 3: Inform the RTO About Your Two-Wheeler Theft

If your vehicle has been stolen, it is mandatory to report the theft at the nearest Regional Transport Office (RTO). You will have to take care of all the necessary paperwork to register your two-wheeler theft as per the guidelines of the RTO. The RTO will also provide a Transfer Certificate.

  • Step 4: Submit the Required Documents to the Insurance Company

Once you have acquired all the necessary documentation from the police and RTO regarding your stolen vehicle, submit the documents to your insurance provider. Here are all the necessary documents you will have to submit:

  1. Your driving licence

  2. Two-wheeler registration certificate

  3. Insurance claim settlement application

  4. Copy of your insurance policy

  5. Copy of the FIR

  6. Copy of the transfer certificate from the RTO

  7. Any other documents the insurance company requires

  • Step 5: Submit the ‘Untraceable Report’ from the Police

If your bike or two-wheeler has not been recovered after 30 days from the day of the theft, the police will provide you with an Untraceable Report. The Untraceable Report will serve as proof that your vehicle could not be traced even by the police. Submit the report to your insurance provider. It should be noted that without the Untraceable Report, the bike insurance company will not be able to process your claim.

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What if Your Stolen Two-Wheeler is Recovered?

If the stolen bike is recovered by the police, you will not get any insurance claim coverage. However, if your bike or parts of your bike have been damaged due to theft, the insurance company will pay out the cost of repairs. If your bike is recovered after your insurance claim has been paid out, you will be required to inform the insurance company about the same and follow their further instructions regarding the insurance claim.

How Much will the Insurance Payout be for a Stolen Bike?

The insurance payout for your stolen vehicle will depend on the Insured Declared Value (IDV) of the bike. To be very precise, the total payout for your stolen bike would be the IDV minus the cost of depreciation and any deductibles in the policy. Thus, it’s important to ensure that the correct IDV of your bike is registered at the time of buying or renewing your bike insurance policy.

Consequences of Not Having a Bike Theft Insurance Plan

If your bike gets stolen and you do not have bike theft insurance in place, you will face the following consequences: 

  • Monetary Loss 

Buying a new vehicle is a major investment. If your bike gets stolen, you would essentially lose your hard-earned financial asset. 

  • Travelling Issues 

Moreover, if your bike gets stolen, your daily travel routine will get disrupted. You will have to depend on public transport (buses, cabs) or rent a vehicle which would also increase your costs significantly. 

  • Mental Stress 

Having an important asset like a bike stolen can also cause anxiety and mental stress, which can lead to a decline in your mood and productivity. 

How Does Comprehensive Bike Insurance Help in Tackling Bike Theft

A comprehensive bike insurance will help you deal with bike theft in the following ways: 

  • Provide financial coverage if the bike gets stolen. 

  • Provide financial coverage if the stolen bike is recovered but damaged. 


Apart from these, comprehensive bike insurance will also provide coverage for accidental damages to the bike, natural or man-made disasters, fire, third-party liabilities, and more. 

FAQs on Bike Theft Insurance

Is theft covered under bike insurance?

Yes, theft protection is provided under comprehensive bike insurance or two-wheeler insurance plans as part of the coverage or as an add-on rider.

How to claim insurance for bike theft?

 You will need to follow these steps: 

  • Gather all the relevant documents.

  • Procure FIR and Transfer Certificate.

  • Submit insurance claims to the insurance company.

  • Submit the Untraceable Report to the insurance company

  • Wait for the processing of your insurance claim.  

How long does it take to get an Untraceable Report?

You can acquire an Untraceable Report from the police 30 days after the theft of your vehicle. 

How much coverage will I get under bike theft insurance?

You will be given a financial cover equal to the Insured Declared Value (IDV) of your vehicle minus depreciation and deductibles.

How long does it take to get money for a bike theft insurance claim?

 It may take anywhere from 60-90 days after all the necessary documents have been submitted to get reimbursement in case of bike theft. 

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