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Top 5 Two-Wheeler Insurance Providers In 2019

When it comes to two wheeler insurance, we’re sure you have heard enough from different providers about the benefits and coverage offered by their respective plans. This creates a lot of confusion for the customers looking to buy an insurance plan to ensure complete financial protection for their two-wheeler vehicles.

The sheer multiplicity of insurance service providers available in the country is sure to confuse even the most experienced of investors. That is why it makes sense to do thorough research and try to find out the top insurance providers in the market before buying any plan.

In this article, we will provide a list of top 5 two-wheeler insurance companies in India. These companies offer various plans with some unique features and benefits.

Here’s a table that shows the top 5 two-wheeler insurance companies and their key features and benefits:

Two Wheeler Insurer

Third Party Cover

Network Garages

Personal Accidental Cover

Incurred Claim Ratio

Policy Term

No Claims Bonus

HDFC Ergo Two Wheeler Insurance

Available

4600+

Rs. 15 Lakh

84.37%

1 year

Available

Bajaj Allianz Two Wheeler Insurance

Available

4000+

Rs. 15 Lakh

62.20%

1 year

Available

TATA AIG Two Wheeler Insurance

Available

NA

Rs. 15 Lakh

 68.62%

1 year

Available

New India Assurance Company

Available

150+

Rs. 15 Lakh

79.68%

1 year

Available

SBI General Insurance

Available

1500+

Rs. 15 Lakh

91.75%

1 year

Available

Now that you already know who the top 2-wheeler insurance companies are, it’s time to dig a little deeper and get acquainted with these insurers in a little detail.

So, let’s dive right in! Shall we?

Two-Wheeler Insurance Providers

 

1. HDFC ERGO General Insurance Company Limited

Two-wheeler insurance plans offered by HDFC ERGO general insurance company provide comprehensive coverages. The best part is that HDFC ERGO two-wheeler insurance plans are provided at affordable premiums. The company is best known for its 24x7 customer support services.

Core benefits of HDFC ERGO two-wheeler Insurance:

Here’s a little smattering on the coverage and benefits offered under HDFC ERGO two-wheeler insurance plans:

  • Third Party Coverage - HDFC ERGO two-wheeler insurance plans provide coverage against any legal liability arising out of a third party injury/death or damage to a third party property due to accidents involving the insured vehicle.
  • Personal Accident - HDFC ERGO Two-wheeler insurance plans also offer personal accident cover up to Rs. 15 lakh including both accidental death and permanent disability.
  • Coverage to own Damage - It covers the expenses incurred due to loss or damage caused to the insured two-wheeler by any natural disaster or man-made calamities like earthquake, cyclone burglary, theft or fire. Read more about HDFC ERGO two-wheeler insurance

2. Bajaj Allianz General Insurance Company Limited

Bajaj Allianz is one of the most popular and sought after insurance companies in the market when it comes to two-wheeler insurance plans. It is well-known for its hassle-free claim settlement procedure and flawless, innovative products.

Core Benefits of Bajaj Allianz two-wheeler Insurance:

Benefits offered under Bajaj Allianz two-wheeler insurance plans are as follows:

  • Third Party Cover - Two-wheeler plan by Bajaj Allianz Insurance Company provides coverage against legal liabilities arising out of an accidental injury or death of a third party or damage to its property.
  • Personal Accident - It covers up to Rs. 15 Lakh for the personal accident of owner/driver of the insured two-wheeler.
  • Coverage to own Damage - Bajaj Allianz Two-wheeler insurance plans cover the insured two-wheeler against damage or loss occurred due to any man-made like burglary, theft, riots and strikes or natural calamities, like a flood, cyclone, landslide, rockslide, etc. Read more about Bajaj Allianz two-wheeler insurance

3. TATA AIG Two-Wheeler Insurance:

TATA AIG offers affordable and pocket-friendly two-wheeler insurance policies offering easy claim settlements, cashless garage network across India, and special add-on covers. TATA AIG two-wheeler insurance bagged “General Insurer Claims Team of the Year” by Claims Awards Asia in the year 2013.

Core Benefits of TATA AIG Two-wheeler Insurance:

Here’s a little smattering on the key benefits offered under TATA AIG two-wheeler insurance plans:

  • Third-party Cover: Two-wheeler insurance policy by TATA AIG indemnifies you in case of an accident arising out of the use of insured bike against all sums.
  • Personal Accident Cover: TATA AIG two-wheeler insurance policy covers up to Rs. 15 Lakh for the personal accident of the owner/driver of the insured bike.
  • Coverage to Own Damage: This plan indemnifies the insured two-wheeler against the expenses incurred due to fire explosion, lightning, self-ignition, strike and riot, earthquake (shock damage and fire), accidental external means, flood, hurricane, typhoon, cyclone, terrorist activity, landslides, and hailstorm.

4. New India Assurance Company

Yet another popular general insurance company, New India Assurance is a government-owned company, which is a major player in the Indian insurance market. It offers the highest financial aid to meet the policyholder’s requirements.

Benefits of New India Assurance Company:

Read the coverages and benefits offered under the New India Assurance two-wheeler insurance plan:

  • Third Party Cover - It offers compensation, in case of death or injury caused to a third party and damage caused to its property.
  • Personal Accident - New India Assurance two-wheeler insurance plan provides personal accident coverage to the owner/driver of the insured two-wheeler.
  • Coverage for Own Damage - It covers the insured two-wheeler against the expenses incurred due to any damage caused by natural or man-made calamities. Read more about New India Assurance Insurance

5. SBI General Insurance Company

SBI is a well-known organisation when it comes to financing and banking services in the Indian insurance market. But what’s really surprising is the fact that this company leads the insurance market with its wide smorgasbord of two-wheeler insurance plans that offer multiple coverages.

Core Benefits of SBI Two-wheeler Insurance Plans:

Here are just some of the many benefits offered by SBI two-wheeler insurance plan below:

  • Third Party Cover - It covers the expenses incurred in fixing damage or loss to the third party or its property.
  • Personal Accident - It provides personal accident cover of Rs. 15 Lakh for owner/driver of the insured two-wheeler, in case he or she meets with an accident.
  • Coverage for Own Damage - It covers the insured two-wheeler against expenses incurred due to damage caused by any natural or man-made calamities. Read more about SBI two-wheeler insurance

Parting Thoughts:

So there you have it - top 5 two-wheeler insurance providers in the Indian insurance market. If you want to buy an insurance plan for your two-wheeler, go online and compare these plans carefully to zero in on the best plan that fits your bill to the T.

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