Two-Wheeler Insurance Provider

Top 5 Two-Wheeler Insurance Providers In 2017

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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 a 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

1600+

Rs. 1 Lakhs

78.60%

1 year

Available

Bajaj Allianz Two Wheeler Insurance

Available

4000+

Rs. 1 Lakhs

78.60%

1 year

Available

ICICI Lombard Two Wheeler Insurance

Available

3000+

Rs. 1 Lakhs

 

1 year

Available

New India Assurance Company

Available

150+

Rs. 1 Lakhs

86.83%

1 year

Available

SBI General Insurance

Available

1500+

Rs. 1 Lakhs

80.37%

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 to 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.

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. 1 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.

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 upto Rs. 1 Lakh for 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 flood, cyclone, landslide, rockslide, etc. Read more about Bajaj Allianz two-wheeler insurance

3. ICICI Lombard General Insurance Company

This is one of the largest general insurance ventures in Indian insurance market. Two-wheeler insurance plans offered by this company are beneficial and comparatively affordable. The company is well-known for its hi-tech that offers better services to their customers anywhere, and anytime.

Read below the benefits and coverage offered under ICICI Lombard two-wheeler insurance plans:

  • Third Party Cover - It covers third party liabilities that are occurred due to permanent injury/death of a third party or damage to its property.
  • Personal Accident - A comprehensive two-wheeler insurance plans offered by ICICI Lombard insurance company cover the expense incurred due to personal accident of the owner/driver of the insured two-wheeler. The policy includes reimbursement option for hospital expenses. In case the owner/driver of the insured two-wheeler dies, the insurer pays to the nominee as mentioned in the policy wording.
  • Coverage for Own Damage - It covers the repair or replacement expenses incurred due to any accident, manmade or natural calamities. Read more about ICICI Lombard two-wheeler insurance

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 Indian insurance market. It offers highest financial aid to meet the policyholder’s requirements. Read the coverages offered under 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 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 finance and banking services in 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.

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. 1 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

So there you have it - top 5 two-wheeler insurance providers in 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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