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Bike Insurance with Invoice Protection: Safeguarding Your Investment

When we purchase a two-wheeler, we accept the responsibilities and duties that come along with the asset. It is a utility-based asset and, hence, is open to various risks and losses. Your two-wheeler insurance policy will protect you from various additional financial responsibilities, like maintenance, repairs, loss due to fire, etc.

All these losses are partial, like a part being stolen from your bike. But what about when the entire bike gets damaged or stolen?

If you buy bike insurance and one add-on with your insurance policy, you can protect your money from that, too. The invoice cover or return on invoice insurance can help out in cases of complete loss of your bike.

The other add-ons or terms in the comprehensive bike insurance cannot deal with such losses. Hence, this add-on becomes an exclusive need that is of great importance and advised by many professionals.

Now, why is it that the other properties of the policy cannot manage such a huge loss, but this clause can? Let us discuss the definition, benefits, and features of Invoice Protection or Return on Invoice in a bike insurance policy.

 Return on Invoice: Add-On Cover in Two-Wheeler Insurance

Just like any other rider or add-on, the return on invoice cover add-on maximises the benefits of a two-wheeler insurance policy. When an insurance company offers the sum assured, it is normally less than the market price of the bike.

In case of a huge loss, like loss by fire, theft, natural disaster, or man-made disaster, the repair cost will be way above the sum assured or insured declared value. Sometimes, the bike is beyond repair.

This is where the Invoice Protection or the Return on Invoice add-on comes in. This add-on cover in your two-wheeler insurance bridges the gap between the market price of your bike and the sum assured.

The return to invoice coverage becomes extremely beneficial if we consider the risks out there on the roads. So, it is worth your contemplation.

Let us also look at the benefits of this add-on: invoice protection!

 Benefits of Invoice Protection

  • Higher Expenses

When your bike goes through a horrible accident or an incident that inflicts a lot of damage to your bike, you are left with no choice but to buy a new one. In such cases, your insured declared value cannot suffice; you will require more cash.

The invoice protection cover helps you claim this additional cash. Since you are paying the premiums for the add-on, you will receive the benefits for the same.

  • Additional Expenses

When buying a bike, it is not just the bike you pay for. You will have to pay for the registration, taxes, etc. These are the miscellaneous costs that you have to incur, and the invoice protection pays for these, too. So, you receive the ex-showroom price of your bike and the other additional costs.

  • Replacement Available

If you lose your bike to theft or damage, your insurance company may give you a brand new bike in the place of the insured bike. This means you will get a bike similar to your present model at the last invoice value.

  • Peace of Mind

It offers peace of mind to all the bike owners, but especially the new owners. Since the insurance policy provides solutions for the worst possible situations your bike can get into.

 Features of Invoice Protection

  1. The add-on is available with leading insurers like Tata AIG with their comprehensive bike insurance policy and own-damage bike insurance policy.
  2. The premium for this add-on is more than the usual comprehensive and own-damage policy.
  3. Applicable only when the damage is beyond repair.
  4. Only applicable for vehicles of 3 to 5 years of age with most insurers.
  5. It is not applicable to the third-party liability insurance for two-wheelers since this add-on is only relevant to the insured bike.

 How to Calculate the Return on Invoice Amount?

When your bike suffers extreme loss, you will have to raise a claim.

The claim will be equal to the on-road price of the bike and the insured declared value. The on-road price includes the ex-showroom price, road taxes, and registration fees.

This is how you incur practically no loss on the damage of your two-wheeler.


If you are wondering whether or not this invoice protection cover is worth buying, you must rest assured. This is a very beneficial add-on that will help you out in the most difficult times regarding your bike.

Since the bike is your responsibility and yours to keep safe, you should do the best you can. You can definitely think about getting this add-on, even if it costs a bit more than your standard comprehensive or own-damage policy.