List of Best Two-wheeler Insurance Plans in India 2023
A bike insurance plan offers financial coverage to all types of two-wheelers, including bikes and scooters, against several unforeseen circumstances. When you intend to buy a bike insurance, remember to compare bike insurance quotes and assess the features offered in the policy. To know which bike insurance is best, here are the "bike insurance policies" offered by top bike insurance companies in India:
|Two-Wheeler Insurance Company
|Personal Accidental Cover
|Claim Settlement Ratio(CSR)
|Policy Term (Minimum)
|Bajaj Allianz Insurance General Insurance Co. Ltd.
|₹ 15 Lakh
|Cholamandalam MS General Insurance Co. Ltd.
|₹ 15 Lakh
|Future Generali India Insurance Co. Ltd.
|₹ 15 Lakh
|GO DIGIT General Insurance Ltd.
|₹ 15 Lakh
|HDFC ERGO General Insurance Co. Ltd.
|₹ 15 Lakh
|IFFCO Tokio General Insurance Co. Ltd.
|₹ 15 Lakh
|Kotak Mahindra Insurance Co. Ltd.
|₹ 15 Lakh
|Liberty General Insurance Ltd.
|₹ 15 Lakh
|National Insurance Co. Ltd.
|₹ 15 Lakh
|The New India Assurance Co. Ltd.
|₹ 15 Lakh
|The Oriental Insurance Co. Ltd.
|₹ 15 Lakh
|Reliance General Insurance Co. Ltd.
|₹ 15 Lakh
|SBI General Insurance Co. Ltd.
|₹ 15 Lakh
|Shriram General Insurance Co. Ltd.
|₹ 15 Lakh
|TATA AIG General Insurance Ltd.
|₹ 15 Lakh
|United India Insurance Co. Ltd.
|₹ 15 Lakh
|Universal Sompo Insurance Co. Ltd.
|₹ 15 Lakh
|ZUNO (Edelweiss) General Insurance Co. Ltd.
|₹ 15 Lakh
*Disclaimer- The Claim Settlement Ratio (CSR) mentioned above is as per the IRDAI motor insurance annual report 2021-22. Policybazaar.com does not endorse, rate, or recommend any particular insurer or insurance product offered by an insurer.
Now, find below the brief overview of each two-wheeler insurance policy offered by different bike insurance companies in India:
Now, find below the brief overview of each two-wheeler insurance policy offered in India-
Bajaj Allianz Two-Wheeler Insurance
Dependability, seamless services, innovative products, and a solid customer-oriented approach make Bajaj Allianz one of the prominent sought-after names for two-wheeler insurance plans.
Key Features of Bajaj Allianz Two-Wheeler Insurance
Here are the core features of Bajaj Allianz bike insurance-
- Compensates for damage or loss to the two-wheeler caused by natural calamities like earthquakes, cyclones, floods, etc., and manmade problems like theft, riots, terrorist activity, etc.
- Offers third-party liability benefits in case of property damage, accidental injury, or death
- Easy online policy renewal
- Free services in chosen garages
- 24X7 customer support providing instant assistance for any policy or service-related issue
- Quick and hassle-free claims settlement/support and various free services
- SMS updates regarding the insured two-wheeler's claim status.
Cholamandalam Two-Wheeler Insurance
Investing in the two-wheeler insurance cover from Cholamandalam MS offers you several benefits, including quick & easy claim settlements.
Key Features of Cholamandalam Two-Wheeler Insurance
The following are key features of the Cholamandalam two-wheeler insurance policy:
- Offers coverage against legal & financial liabilities of third-party in case of a road accident
- Compensates for the damages caused to your own vehicle during an accident. Hence, it pays for the cost of repairs
- 8,500+ cashless network garages available in PAN India
- Quick and easy claims settlement procedure
- All the valuable add-on covers are available with a two-wheeler insurance policy
- Some Chola value-added services include two-wheeler breakdown assistance, such as flat tyre service, easy on-site repairs, emergency fuel supply, etc.
Future Generali Two-Wheeler Insurance
Get complete financial protection for your two-wheeler with Future Generali’s two-wheeler insurance policy.
Key Features of Future Generali Two-Wheeler Insurance
Some key features of Future Generali's two-wheeler insurance policy include-
- Coverage for the loss or injury of the driver or the passenger of the insured two-wheeler
- Any damage caused to the insured bike due to accidents, natural calamities, and man-made disasters
- Coverage for third-party liabilities, such as property damage, accidental injury, or death in a road accident
- Instant policy issuance and renewal
- Several add-on covers are available
- Future Xpress and Xpress+ for personalized service and faster claim settlements
- Towing assistance in case of accidents
- 24*7 roadside assistance
- 3500+ network garages across India for hassle-free cashless claims.
Go Digit Two-Wheeler Insurance
Buying Digit two-wheeler insurance is advantageous as it offers comprehensive protection against any incurred third-party liabilities and own damages. Mr. Kamesh Goyal, formerly the CEO of Bajaj Allianz, founded this company and successfully worked to provide tailored plans.
Key Features of Go Digit Two-Wheeler Insurance
Let us have a look at the following features provided in the Digit two-wheeler insurance-
- Avail the cashless facility at the registered network garages across the country
- Tailor the plan as per the needs and budget
- The smartphone-enabled claim settlement process can be done online within just 7 minutes
- Make a call, and your insured two-wheeler will be picked up, repaired, and dropped at your home
- Customizable add-on covers are available.
HDFC ERGO Two-Wheeler Insurance
HDFC ERGO General Insurance Company Limited is India's leading general insurance company. It offers a wide range of insurance products, including two-wheeler insurance. The company has a wide network of branches and offices across India, making its services easily accessible to customers. They have a strong presence in urban and rural areas, ensuring coverage for everyone.
Key Features of HDFC ERGO Two-Wheeler Insurance
Here are some of the key features of the HDFC ERGO two-wheeler insurance policy-
- Get coverage against legal & financial liabilities of a third party in case of an accident with third-party bike insurance.
- Repair your insured vehicle from 2000+ network garages available in PAN India
- Get assistance from the 24x7-claim assistance team.
IFFCO Tokio Two-wheeler Insurance
IFFCO Tokio two-wheeler insurance policy is pocket-friendly and caters to the needs of people from every segment with complete financial aid.
Key Features of IFFCO Tokio Two-Wheeler Insurance
The following are the key features offered in IFFCO Tokio two-wheeler insurance-
- Hassle-free documentation process at the time of buying
- The hassle-free and quick claim settlement process
- An array of emergency services offered
- Round-the-clock assistance services are available.
Kotak Mahindra Two-wheeler Insurance
Kotak Mahindra two-wheeler insurance plans are a worthy investment, which provide complete protection and safeguard you from any unwanted fiscal costs due to mishaps or accidents.
Key Features of Kotak Mahindra Two-wheeler Insurance
Listed below are the key features of the Kotak Mahindra two-wheeler insurance policy:
- Quick insurance policy issuance and renewal
- Provides coverage against any third-party legal liabilities and own-damages
- An extensive range of additional covers is offered.
Liberty Two Wheeler Insurance
Liberty's two-wheeler insurance policy offers complete protection. It takes care of every unfortunate damage or loss that could incur to the two-wheeled vehicle and any third-party property or person.
Key Features of Liberty Two-Wheeler Insurance
The following are the key features offered under the Liberty two-wheeler insurance-
- Quick claim settlement process (within 7 days usually)
- Advantage of cashless network garages/ workshops
- Effective customer care support
- Easy buying and renewal of the policy.
National Two-Wheeler Insurance
A national two-wheeler insurance policy protects your priced possession from several unforeseen risks, including loss/damage due to an accident.
Key Features of National Two-Wheeler Insurance
The following are the key features offered by National two-wheeler insurance-
- Customize the insurance plan based on your needs
- Track the claim status online
- Availability of No Claim Bonus (NCB)
- Easy cashless claim service available
New India Assurance Two-Wheeler Insurance
New India Assurance, a wholly government-owned firm, has not only developed a nationwide reach but has also established a strong global presence in over 27 countries.
Key features of New India Assurance Two-Wheeler Insurance
Below mentioned are the key features of New India Assurance two-wheeler insurance-
- Quick claims processing
- Outstanding grievance resolution system - Grievances once reported are acknowledged within three days and resolved within 15 days.
Oriental Two-Wheeler Insurance
Oriental two-wheeler insurance plans are designed in a way that takes care of all your insurance needs and lets you remain stress-free.
Key Features of Oriental Two-Wheeler Insurance
Below mentioned are the key features offered under the Oriental two-wheeler insurance-
- Covers for a short span are available
- Add-ons such as NIL depreciation, personal accident, etc., are available
- In case of installation of an anti-theft device, discounts can be availed
- Voluntary deductible with one or many plans.
Reliance Two-Wheeler Insurance
Reliance General Insurance is one of the prominent insurance companies in India, offering excellent insurance policies for two-wheelers. With its comprehensive range of coverage and wide-ranging services & features, the company makes it easy to understand why it remains a sought-after option for bike insurance in India.
Key features of Reliance Two-Wheeler Insurance
The core features of Reliance General Two-wheeler Insurance are as follows-
- Fast and hassle-free claim settlement
- Easy policy renewal tool options available online
- Get a discount on own-damage premium using a No claim bonus (NCB), installation of anti-theft devices, and membership of a recognized Automobile Association every year
- Quick and hassle-free settlement of claims in case of damage/loss caused to the insured two-wheeler due to accidents, riots, theft, and various natural calamities, along with third-party liability cover
- Repair/replacement services in any of the 8700+ network garages across India,
- 24/7 customer support accessibility via phone or email.
SBI Two-Wheeler Insurance
SBI General’s comprehensive bike insurance policy is one of the most popular insurance products. Thanks to its wide range of customer-centric offerings, features, and benefits.
Key features of SBI Two-Wheeler Insurance
Here are some of the key features of SBI General two-wheeler insurance-
- Customized pricing in line with the applicant’s specific profile
- Additional discounts
Shriram Two-Wheeler Insurance
Shriram two-wheeler insurance plans are easily customizable, customer-friendly, and at the same time transparent too. The plans are designed in such a way, which are customer-centric.
Key Features of Shriram Two-Wheeler Insurance
The core features are as follows Shriram two-wheeler insurance includes-
- The status of NCB is transferable from any other insurance provider
- Quick claim settlement procedure
- Can easily tailor the policy based on the requirements
- Unrestrained cashless claim service
TATA AIG Two-Wheeler Insurance
It is difficult not to talk about TATA AIG when talking about India’s foremost two-wheeler insurance companies in India. With its comprehensive insurance for all two-wheelers and several important benefits, the company consistently ranks alongside the country’s finest insurance companies.
Key features of TATA AIG Two-Wheeler Insurance
Below are the main features of TATA AIG bike insurance-
- Free pick up of two-wheelers in case of accidents
- Six-month warranty for accident repairs (For TATA AIG Auto secure policyholders)
- Direct online claim filing option
- Claim settlement assured within seven days.
- Covers total as well as partial loss of two-wheelers in case of accidents that lead to third-party property damage/bodily injury
- Some common add-on covers under TATA bike insurance policy are No Claim Bonus protection cover, depreciation reimbursement, daily allowance, key replacement, return invoice, etc.
- Compensates for loss of personal belongings inside the insured two-wheelers in case of an accident
- Round-the-clock, dedicated customer service team that resolves any policy or service-related issue in a minimum turnaround time.
United India Two-Wheeler Insurance
United India two-wheeler insurance provides financial security in case of any loss or damage incurred under any adverse situations.
Key Features of United India Two-Wheeler Insurance
Listed below are some of the key features of United India two-wheeler insurance plan
- Fast and easy claim settlement process
- An array of additional covers accessible
- Various discounts offered on the NCB
- Excellent customer support assistance.
Universal Sompo Two-Wheeler Insurance
Universal Sompo's two-wheeler insurance policy provides innovative solutions and fulfills the requirement of every two-wheeled owner.
Key Features of Universal Sompo Two-Wheeler Insurance
The following are the key features of United Sompo two-wheeler insurance-
- The facility of cashless network garages across the nation
- The simplified claim settlement process
- Expeditiously handling of claims and queries
- Dedicated customer support team
- Personal accident cover is available.
Zuno (Edelweiss) Two-Wheeler Insurance
Buying Zuno two-wheeler insurance policy is no task at all. You can easily buy the policy online and avail quick payment and renewal alternatives.
Key Features of Zuno (Edelweiss) Two-Wheeler Insurance
Have a look at the below-mentioned key features offered within Zuno (Edelweiss) two-wheeler insurance-
- Customize the two-wheeler insurance plan as per your requirements
- Personal accident cover is available
- Easy access to cashless garages.
How to Choose the Best Two-Wheeler Insurance Policy?
Here are the best tips that will help you in selecting the best two-wheeler insurance policy:
Claim Settlement Ratio
The Claim Settlement Ratio (CSR) indicates the insurance company's performance. If you are dealing with an insurance company with the highest claim settlement ratio, the probability of processing your claim will be higher. Hence, you must consider the CSR of an insurance company before buying a bike insurance policy online.
You should opt for a comprehensive bike insurance plan to cover various risk factors efficiently. If you choose a comprehensive policy, it will cover the third-party damages and the loss or damage to your own vehicle in an unforeseen instance. However, reviewing the policy wording before buying a bike insurance policy is essential.
The insurance premium is based on the vehicle's make and model, the vehicle's age, the owner's age, coverage of risk factors, geographic location, etc. If the frequency of usage of the vehicle is high, you will have to pay a higher. Hence, you must compare premiums offered by different insurers for a particular two-wheeler insurance plan.
The insurance company should offer quick customer support while buying/renewing an insurance policy. Moreover, you should have access to the company by phone, email, or other channels during the claim settlement process. An impromptu customer support team always offers assistance with all types of insurance-related queries. Hence, you must opt for 24*7 customer assistance before buying an insurance policy.
The Network of Garages
You should buy a two-wheeler insurance plan from an insurance company that maintains an extensive garage network. It will help you manage cashless service from when your vehicle is involved in an accident.
In addition to the basic features offered by the bike insurance company, you can go for additional coverage as per your needs. Even though the premium increases with the extra cover, there will be great flexibility when filing the claim.
Over to You
The inherent risks associated with the bike can be overcome by choosing the best two-wheeler insurance policy. You can choose the best policy, which covers theft as well so that there will be great peace of mind. Hence, you are advised to select the right cover from a top bike insurance company in India so that you do not have to face any complications while raising claims.
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^The renewal of insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for a transaction may vary subject to additional data requirements and operational processes.
^The buying of Insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for transaction may vary subject to additional data requirements and operational processes.
#Savings are based on the comparison between highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.
*TP price for less than 75 CC two-wheelers. All savings are provided by insurers as per IRDAI-approved insurance plan. Standard T&C apply.
*Rs 538/- per annum is the price for third party motor insurance for two wheelers of not more than 75cc (non-commercial and non-electric)
#Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.
*₹ 1.5 is the Comprehensive premium for a 2015 TVS XL Super 70cc, MH02(Mumbai) RTO with an IDV of ₹5,895 and NCB at 50%.
*Rs 457/- per annum (1.3/day) is the price for the third-party motor insurance for private electric two-wheelers of not more than 3KW (non-commercial). Premium is payable on an annual basis