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Best Bike Insurance Companies in India

Insurance Bike policy is required because it supports the policyholder in incurring the financial responsibility that may occur because of any mishap or accident.

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Why is Bike Insurance necessary?

Insurance Bike policy is required because it supports the policyholder in incurring the financial responsibility that may occur because of any mishap or accident.

Further, the Indian bike Motors Act also makes it compulsory for every bike owner to have bike insurance cover (at least third party) to be able to ride freely on the Indian roads.

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4 Things to check while buying Two-wheeler insurance 

Below are certain factors that needs to be considered while opting for a bike insurance company:

1. Claim Settlement Ratio : The CSR or claim     settlement ratio is one of the most significant     aspect while considering the insurance company     that you want to buy your bike insurance from.

2. Extensive Cashless Garages –  It is also equally      important to ensure that your bike insurance      provider offers a wide network of cashless      garages to offer cashless claim facilities.

3. Add-on Covers – Also, you must ensure that         your two-wheeler Insurance company offer a list      of add-on covers that you can opt for to      enhance coverage of your bike.

3. Customer Care Service – It is equally important      to ensure that your two-wheeler insurer offer      quality customer care service with 24*7 support      so that any query can be resolved effortlessly.

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The following are the different types of vehicle insurance for two wheeler offered by different companies.

Third Party two-wheeler Insurance Plans : The third-party insurance is the most basic and the most essential vehicle insurance policy, which is made mandatory by government for every vehicle owner.

3 Different Types of Two-Wheeler Insurance Plans

Standalone Own Damage insurance plan : A standalone cover offers protection against losses caused to your bike due to accident and other factors. So, if you include third-party and standalone cover, you can have all-inclusive coverage.

Comprehensive Two-Wheeler Cover : Comprehensive plan of bike insurance is a complete package that enhances your bike insurance as it includes both third-party and own-damage or first party bike insurance coverage.

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Benefits of having a Bike Insurance Policy?

2. On the home page, select bike/two wheeler      insurance

1.  Visit the official portal of your insurer

3. Now, submit the required details of your bike or the      Registration Number of your bike.

Below are the steps that can be availed to buy two-wheeler cheapest insurance plan in India by following these easy steps:

4. Now, Select the Type of Cover and Plan you want to      buy two wheeler insurance

5. Proceed with the Mode of Payment that you      want to use.

6. Finally, a copy of the Policy will be sent to your      Registered Email.

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List of Best IRDAI approved Bike Insurance Companies 

Here is a list of the best online bike insurance company in India as per their Claim Settlement Ratio FY20.

3. The Oriental Insurance Company (91.76%)

2. Royal Sundaram General Insurance (92.66%)

1. IFFCO Tokio General Insurance (95.30%)

6. Tata AIG General Insurance (90.49%)

5. Universal Sompo General Insurance (90.78%)

4. HDFC ERGO General Insurance (91.23%)

7. The New India Assurance (89.60%)

8. SBI General Insurance (89.51%)

9. Bajaj Allianz General Insurance (88.83%)

10. Future Generali India Insurance (88.69%)

11. Bharti AXA General Insurance (87.99%)

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