old two wheeler

Old Bike Insurance

Still retaining your old bike? Get them insured at the lowest premium and enjoy your rides


Two-wheeler details


I have a brand new bike









What is an Old Bike Insurance Policy?

We all love our old bikes. It carries a lot of poignant memories and always remains close to our heart, no matter what posh vehicle we own now. Some of you might retain your old bikes as a trophy. However, maintaining the old bike has its own set of challenges. Apart from keeping them fit for running, it is also important to keep them insured. 

Old Bike Insurance plan is the type of insurance plan you purchase for an old bike, typically the ones that are more than 10 years old.

Importance of Insurance for Old Bikes

According to Motor Act 1988, all motor vehicles must carry valid insurance. The good news is that there are multitudes of options available these days to insure your old bikes. Old Bikes are more prone to accidents, so it’s advised to keep it insured for your safety.

Why Choose Fincover for Old Bike Insurance?


Option to Compare

Compare old bike insurance quotes from an array of insurers and select the one that fits your bike.


Minimises repair cost

The primary need for insurance is to ensure financial support at the time of accident or theft. It also acts as a financial backup to cover the financial loss caused to any third party vehicle/ individual.



Every transaction you make on our platform is safe and transparent. No Hidden charges

How to Buy/Renew Old Bike Insurance online?

Step 1

Enter the Bike Registration Number and select the model

Step 2

Mention if the previous policy is expired or not and click on view quotes

Step 3

You will be able to view the quotes for third party liability plan and comprehensive plan

Step 4

Select the Plan and IDV of your vehicle and choose add-ons if required for enhanced coverage

Step 5

Pay the premium online and you will receive the policy documents in your inbox in few minutes

Depreciation Value

Age of the Bike in years Depreciation
1-2 10%
2-3 20%
3-4 30%
4-5 35%
5-10 40%
Greater than 10 50%

Importance of Insurance for Old Bikes

Coverage – Decide the type of coverage you would require. Not all plans provide the same coverage as it may differ in terms of IDV of the vehicle. Think about the utility of your bikes and select the most appropriate plan. 

Compare and Decide – There are more than 25 companies offering old bike insurance policies in India. You will have to carefully review every insurance company, check their ratings and claim settling ability and pick the best. 

Premium – Generally, the old bike has lesser IDV, so it results in a lower premium. However, don’t just let premium alone be the deciding factor in choosing the bike. Opt for the one that offers you maximum benefits

Depreciation – All vehicles undergo depreciation with time. Check the slab given above which has the depreciation value of each vehicle. The Reimbursement is based on the depreciation value of the vehicle

No Claim Bonus – NCB is the bonus given by the insurance company to the policyholders for non-claim period. If you are renewing your insurance for your old bikes, don’t miss to avail the NCB

Add-ons – Get enhanced protection for your old bikes by purchasing an add-on rider along with your policy. Some common add-ons are zero depreciation cover, roadside assistance cover, and NCB protection cover.

How is the Premium Calculated for Old Bikes?

The premium for your old bike insurance is calculated based on the age of the bike, accessories fitted, past claim records, along with other factors given below

  • Cubic Capacity of the bike
  • Age of your bike
  • IDV of the bike
  • NCB if any applicable

Why is it important to insure your old bikes?

  • Legal Liability
  • Coverage against Accidental Damages
  • Coverage against Theft
  • Coverage against Natural and Man-made disasters
  • Personal Accident Coverage


You can learn more from our asked questions
All the bikes plying on Indian roads must have valid bike insurance according to Motor Vehicles Act 1988.
The Insurance cost for old vehicles is lower compared to newer ones. The premium is reliant on the IDV of the vehicle. Since the IDV of the old vehicle is low, the insurance premium is cheap compared to new vehicles.
For broader coverage, it is always advised to go for comprehensive insurance coverage, as it covers both third party and own damage cover.
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