bike-insurance-company

Best Two wheeler Insurance Companies in India

A Two Wheeler Insurance Policy protects your bike against accidents, theft, and natural, and man-made calamities. According to Motor Vehicle Act 1988, every two-wheeler owner must at least own third-party bike insurance. Indian motorcycle riders have multiple options when it comes  to buying a two wheeler insurance policy. You can either buy a third party liability bike insurance plan which comes  with limited features  or buy a comprehensive bike insurance policy for exhaustive coverage.

Top Two wheeler Insurance Plans

Several good plans are available at a cost that will enhance your day.

Comprehensive plan Third party plan
united-INDIA-insurance

United India

  • Starting at - ₹ 1000/-
  • 60% discount
  • PA Cover - ₹ 15 Lakh
Get quotes

reliance-insurance

Reliance

  • Starting at - ₹ 980/-
  • 60% discount
  • PA Cover - ₹ 15 Lakh
Get quotes

new-india-assurance-insurance

New India Assurance

  • Starting at - ₹ 1150/-
  • 60% discount
  • PA Cover - ₹ 15 Lakh
Get quotes

go-digit-general-insurance

Go Digit

  • Starting at - ₹ 1070/-
  • 60% discount
  • PA Cover - ₹ 15 Lakh
Get quotes

bajaj-insurance

Bajaj Allianz

  • Starting at - ₹ 1160/-
  • 60% discount
  • PA Cover - ₹ 15 Lakh
Get quotes

royal-sundaram-insurance

Royal Sundaram

  • Starting at - ₹ 1138/-
  • 60% discount
  • PA Cover - ₹ 15 Lakh
Get quotes

icici-lombard-insurance

ICICI Lombard

  • Starting at - ₹ 1287/-
  • 60% discount
  • PA Cover - ₹ 15 Lakh
Get quotes

oriental-insurance

Oriental

  • Starting at - ₹ 1150/-
  • 60% discount
  • PA Cover - ₹ 15 Lakh
Get quotes

united-INDIA-insurance

United India

  • Starting at - ₹ 843/-
  • 60% discount
  • PA Cover - ₹ 15 Lakh
Get quotes

reliance-insurance

Reliance

  • Starting at - ₹ 843/-
  • 60% discount
  • PA Cover - ₹ 15 Lakh
Get quotes

new-india-assurance-insurance

New India Assurance

  • Starting at - ₹ 843/-
  • 60% discount
  • PA Cover - ₹ 15 Lakh
Get quotes

go-digit-general-insurance

Go Digit

  • Starting at - ₹ 843/-
  • 60% discount
  • PA Cover - ₹ 15 Lakh
Get quotes

bajaj-insurance

Bajaj Allianz

  • Starting at - ₹ 843/-
  • 60% discount
  • PA Cover - ₹ 15 Lakh
Get quotes

royal-sundaram-insurance

Royal Sundaram

  • Starting at - ₹ 843/-
  • 60% discount
  • PA Cover - ₹ 15 Lakh
Get quotes

icici-lombard-insurance

ICICI Lombard

  • Starting at - ₹ 843/-
  • 60% discount
  • PA Cover - ₹ 15 Lakh
Get quotes

oriental-insurance

Oriental

  • Starting at - ₹ 843/-
  • 60% discount
  • PA Cover - ₹ 15 Lakh
Get quotes

Top Two-wheeler Insurance Companies

Bike Insurance Company

Network Garages

Claim Settlement Ratio

United India Insurance

3100+

82.30%

Reliance General Insurance

8700+

98%

New India Assurance

3000+

89.60%

Go Digit

2900+

97%

Bajaj Allianz

4000+

95.01%

Royal Sundaram

3300+

92.66%

ICICI Lombard

4800+

88%

Oriental  Insurance

3100+

91.76%

How to select the Best Two Wheeler Insurance?

There are legions of Insurance companies in India offering two wheeler insurance policies to the Indian populace. Selecting the best insurance company among the lot is not an easy task. The fact of the matter is the requirement of every individual requiring policy varies. What is important to one need not necessarily be important to others. Some might want to have better coverage and access to more number of network garages, while some would prefer the one with lower premium. The truth is there are some important parameters that every potential policy buyer must check before narrowing in on the insurance policy. Following are the parameters which you must verify in every insurance provider to identify the best insurance policy in the market.

  • Network Garages

Every Insurance company has tie-up with some two-wheeler workshops or garages known as Network Garages. Following an accident, you can get your bikes repaired in these network garages without having to pay out of hand. At the time of selecting the best insurance policy for your bikes, it is crucial that you select the one that has most number of network garages near to your location.

  • Claim  Settlement Ratio

Claim Settlement Ratio abbreviated as CSR is the percentage of claims settled by the insurer out of the total claims received in one financial year. A higher CSR rate indicates that the company has a good record in settling claims. Therefore, you must select the insurance provider which has a good CSR.

  • Riders

Riders or add-ons are additional packages that you can add to your comprehensive bike insurance policy for enhanced protection. You can buy these riders at a nominal price. Zero depreciation cover, Protection of NCB, Roadside Assistance, Consumables  cover are some of the prominent riders purchased by the policyholders. Select the company that offers these cover at a nominal price.

  • Customer Service

It is one of the most important factors that define the reputation of the company. The quality and service of the customer care is very important as you would need their assistance anytime should there be an unfortunate event. Most insurance providers offer 24/7 support to their customers these days. You can check the reviews of different insurance providers online to get an idea about the customer service of the insurer.

Conclusion

Keep the above points in mind when selecting the insurance policy for your bikes. Also, ensure to renew your policy on time as not renewing it on time might lead to legal complications. Make sure to review your requirements periodically to understand if the coverage meets your needs and requirements.

FAQ

You can learn more from our asked questions
There are nearly 30 general insurance providers offering bike insurance policies for Indian customers at present. The needs and requirements of individuals play a significant role in identifying the best bike insurance provider. However, the most important parameter should be the Claim Settlement ratio of the company. Based on the latest CSR, Reliance General and GO Digit come across as Best Bike Insurance providers
The premium for your bike insurance depends on a variety of factors like IDV of your bike, location of RTO, Number of add-ons you’ve opted etc. Hence, the premium for your bike insurance depends on these factors. Moreover, if you have accrued benefits like NCB, you can get discounts on premiums.
Yes, IRDAI allows Insurance portability through which you can switch to a different insurance provider. You can do that at the time of your bike insurance renewal.
You will be fined Rs. 2000 for driving a bike without a valid insurance policy
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