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Everything You Need to Know About Theft Coverage in Two-Wheeler Insurance

Theft is a rising problem, not just in metro cities but everywhere across the country. According to data from the National Crime Records Bureau (NCRB), motor vehicle theft crimes in India accounted for over 2.6 lakh cases, 70% of which involved two-wheelers. Most of these thefts occur outside the homes, parking areas, apartment parking lots, offices, etc. Take the case of Raj, a 30-year-old banker in Mumbai, who had parked his bike in a relatively safe space near his house. Suddenly, one morning, he was shocked to discover that his bike had been stolen from the parking lot. Raj panicked and called up the police and registered his complaint. After that, he called up his insurance company to check if he had theft coverage for the bike. Scenarios like this show how important it is to have theft coverage that can help you recover from the devastating financial loss that may be caused by theft. Let us understand theft coverage in bike insurance in detail.