Best Two wheeler Insurance Companies in India
Owning a two-wheeler in India is not just about convenience—it’s a necessity. However, with road risks increasing, having the best two-wheeler insurance is crucial for financial protection and legal compliance. With numerous insurers offering bike insurance, choosing the right policy can be overwhelming. This guide will help you explore the top two-wheeler insurance companies in India, their features, and how to pick the best one for your needs.
What is Two-Wheeler Insurance?
Two-wheeler insurance is a policy that provides financial protection against damages to your bike, third-party liabilities, and theft. There are two primary types:
Third-Party Insurance: Mandatory by law, covers damages to third parties.
Comprehensive Insurance: Covers own vehicle damage, third-party liability, theft, and add-ons.
How to Choose the Best Two-Wheeler Insurance?
When selecting a bike insurance policy, consider the following factors:
✔ Claim Settlement Ratio (CSR) – Higher CSR means better chances of claim approval.
✔ Premium Cost – Compare premium prices with coverage benefits.
✔ Coverage – Opt for comprehensive plans with necessary add-ons.
✔ Cashless Network Garages – Ensure wide availability of repair centers.
✔ Customer Support & Reviews – Check insurer’s responsiveness and user feedback.
Top 10 Best Two-Wheeler Insurance Companies in India
Here’s a detailed look at the best bike insurance providers in India based on coverage, CSR, affordability, and benefits:
- ICICI Lombard Two-Wheeler Insurance
- Claim Settlement Ratio: 98.2%
- Key Benefits: Instant policy renewal, zero depreciation add-on, cashless claim service
- Why Choose? Reliable and comprehensive coverage for all riders.
- Bajaj Allianz Two-Wheeler Insurance
- Claim Settlement Ratio: 98%
- Key Benefits: Digital claim process, 4000+ network garages, long-term policy option
- Why Choose? High claim approval rate and extensive garage network.
- HDFC ERGO Two-Wheeler Insurance
- Claim Settlement Ratio: 96.8%
- Key Benefits: 24/7 claim support, roadside assistance, NCB benefits
- Why Choose? Strong customer support and claim transparency.
- Tata AIG Two-Wheeler Insurance
- Claim Settlement Ratio: 98.5%
- Key Benefits: No inspection for renewal, 1500+ network garages, multi-year policy
- Why Choose? Trusted brand with hassle-free claims.
- New India Assurance Bike Insurance
- Claim Settlement Ratio: 97%
- Key Benefits: Affordable premiums, nationwide claim support
- Why Choose? Best for budget-conscious bike owners.
- SBI General Two-Wheeler Insurance
- Claim Settlement Ratio: 96.5%
- Key Benefits: Personal accident cover, cashless repairs
- Why Choose? Suitable for government and private employees.
- Reliance Two-Wheeler Insurance
- Claim Settlement Ratio: 95.6%
- Key Benefits: Instant renewal, discount on long-term policies
- Why Choose? Good for low-cost long-term policies.
- Oriental Two-Wheeler Insurance
- Claim Settlement Ratio: 94.5%
- Key Benefits: Add-ons like zero depreciation and medical cover
- Why Choose? Best for riders looking for extensive add-on benefits.
- United India Bike Insurance
- Claim Settlement Ratio: 95%
- Key Benefits: Lower premiums, quick claim settlement
- Why Choose? Suitable for affordable third-party insurance.
- Digit Two-Wheeler Insurance
- Claim Settlement Ratio: 96.6%
- Key Benefits: Smartphone-based claims, customizable add-ons
- Why Choose? Best for tech-savvy users wanting easy claim processes.
Comparison Table: Best Two-Wheeler Insurance Companies
| Insurance Provider | Claim Settlement Ratio | Key Features |
|---|---|---|
| ICICI Lombard | 98.2% | Zero depreciation, cashless claims |
| Bajaj Allianz | 98% | Digital claim, extensive garage network |
| HDFC ERGO | 96.8% | 24/7 claim support, roadside assistance |
| Tata AIG | 98.5% | No inspection renewal, multi-year policy |
| New India Assurance | 97% | Affordable premiums, nationwide support |
| SBI General | 96.5% | Personal accident cover, cashless repairs |
| Reliance | 95.6% | Instant renewal, discounts on long-term plans |
| Oriental | 94.5% | Zero depreciation add-on, medical cover |
| United India | 95% | Lower premiums, quick claim settlement |
| Digit | 96.6% | Smartphone-based claims, easy customization |
How to Buy Two-Wheeler Insurance Online?
Buying two-wheeler insurance is now easy and hassle-free. Follow these simple steps:
- Visit Fincover.com
- Enter your bike details (model, registration year, city, etc.)
- Compare policies from top insurers
- Select the best plan as per your budget and coverage needs
- Make an online payment and get instant policy issuance
Tips to Reduce Two-Wheeler Insurance Premiums
- Use No Claim Bonus (NCB) – Avoid unnecessary claims to get discounts.
- Opt for Higher Deductibles – Agreeing to pay a small amount during claims can lower premiums.
- Install Anti-Theft Devices – Insurers offer discounts for safety features.
- Compare Policies Online – Use Fincover.com to find the best rates.
Frequently Asked Questions (FAQs)
Which two-wheeler insurance is best in India?
ICICI Lombard, Bajaj Allianz, and HDFC ERGO are among the best due to high CSR and comprehensive coverage.
Is it mandatory to have bike insurance in India?
Yes, as per the Motor Vehicles Act, third-party insurance is mandatory.
Can I renew my two-wheeler insurance after expiry?
Yes, but renewal after expiry may require vehicle inspection and attract penalties.
Which insurer has the fastest claim settlement?
Tata AIG, ICICI Lombard, and Bajaj Allianz are known for quick claim settlements.
Conclusion
Choosing the right two-wheeler insurance depends on your budget, coverage needs, and claim settlement efficiency. Always compare policies, check add-ons, and opt for the best provider that meets your requirements.
Get the best two-wheeler insurance at the lowest price! Compare & buy on Fincover.com today.
