Display Blog Content

Guide to Getting Two-Wheeler Insurance for Old Vehicles

30 January, 2020

In India, a two-wheeler is a middle-class man’s best friend. Considering the infrastructure in the country, a two-wheeler is the best way to commute for short distances. However, there are safety concerns which is why it is mandatory to avail a two-wheeler insurance policy in India.


It is seamless and quick to buy a two-wheeler insurance policy for new vehicles. Vehicle dealers now offer five-year insurance policies with every two-wheeler while purchasing the vehicle. However, if it is an old bike, the process can become a little hassled with the requirement of inspection reports and other details.


In the below read, we will understand in detail about the process of buying two-wheeler insurance online for old vehicles. Read on!


In India, it is mandatory by law to buy a two-wheeler insurance policy. There are two types of insurance policies – third party liability and comprehensive cover. You can buy either of them. In most cases, you are required to renew the insurance policy every year. Lately, insurance companies have also introduced 3-year policies.


Below mentioned are a few things to keep in mind about two-wheeler insurance policy:


1.  Keep track of the expiry date:

It is important to renew your insurance policy before it reaches the expiration date. If you renew it after the deadline, the policy will be considered as lapsed and the renewal will be done only after submission of a satisfactory Vehicle Inspection Report. You might also lose out on your No Claim Bonus benefit. Thus, to continue the policy term unbroken, make sure you renew the policy annually or at the end of three years as per the policy agreement.


If there is an accident and your policy has not been renewed, you will not be offered any compensation for the same.


2. Insured Declared Value:

Insured Declared Value is the maximum possible sum assured pre-determined by the insurance company. This value is based on the present market price of the vehicle. So, the older the vehicle, the lesser the IDV. This amount is calculated by deducting depreciation from the selling price of the two-wheeler.

Below is the estimated percentage of depreciation applied to old vehicles:

Age of vehicle


Not more than 6 months


Between 6 months and 1 year


Between 1 and 2 years


Between 2 and 3 years


Between 3 and 4 years


Between 4 and 5 years



3. Premium is low:

As the vehicle becomes old, the premium of two-wheeler insurance also comes down. However, one thing to keep in mind is never to declare a lower IDV just to avail a lower premium rate. Because a lower IDV means you will not be eligible to claim if the actual cost of damage to your vehicle is higher.

You can calculate premium by using a two-wheeler premium calculator online.

How to get two-wheeler insurance for an old vehicle?

Get it online:

You can easily get all the information on two-wheeler insurance for an old vehicle from the comfort of your home. Log on to Royal Sundaram’s website and go to the two-wheeler insurance section. You can get the detailed information regarding the policy, inclusions, exclusions, claim process, renewals, etc. The main advantage of doing this is to have all the clarity on different factors such as Personal Accidental Cover, compensation in case of theft, third party cover, the sum assured etc. You can pick the policy with the benefits you really need.

You can also download the Royal Sundaram Mobile App and get all your policy details at your fingertips.

Documents Required:

  1. Two-wheeler registration details
  2. Existing policy details
  3. Personal Information
  4. Vehicle Inspection Report – if there is a break-in the policy term

Premium Calculator:

A premium calculator allows you to check the premium payable by you based on the type of policy and add-ons selected by you. Just input all the necessary information, like –

  1. Vehicle Registration details
  2. Vehicle Make and Model
  3. Existing policy details
  4. Personal Information

We will provide you with a quick premium quote for your two-wheeler policy.

Read the policy documents:

This is one of the most important steps of the insurance buying process. As stated earlier, features, benefits and conditions are different for each policy. Each policy will have different terms and conditions. Hence, to avoid any confusion at the time of making a claim, make sure you know all about the policy you are going to buy.


Make the payment

Once you have verified all the details, pay the premium amount towards your policy.

After the satisfactory completion of all the procedures, we will provide you with a copy of your policy document.


How do I insure an old bike?

Enter details such as registration number, name and contact information on Royal Sundaram’s official website and get a quote for your two-wheeler insurance policy. Make the payment and get your old bike insured.

How do I find out my bike insurance expiry date?

The bike insurance date is mentioned in the insurance policy document. If you cannot find it, you can call the customer care of your insurance provider and get the details.

Is it compulsory to buy insurance from a bike dealer?

You can either buy an insurance policy from a bike dealer or from an authorised insurance company.

How can I renew my two-wheeler insurance?

Go to the Royal Sundaram website, select ‘two-wheeler insurance’, select the ‘Insta-Renew’ tab, input all the relevant information, pay your premium amount. Your two-wheeler insurance is now seamlessly renewed with Royal Sundaram.