Picking the correct insurance plan is a challenge for most two-wheeler owners in India. Since it is mandatory as per the Motor Vehicles Act of 1988, most vehicle owners settle for the least expensive plan.
It is important to realize that your insurance coverage is directly related to your premium amount. Therefore, a cheaper plan may not always be to the right choice. So at the time of choosing your two-wheeler insurance provider, it is critical to consider the inclusions, advantages, and settlement ratio. Knowing the terms and conditions prior to purchasing is a good way to avoid shocks later on!
To simplify this critical decision, here are the top 7 best two-wheeler insurance companies in India.
| Insurance Company | Benefits | Incurred Claim Ratio |
|---|---|---|
| Bajaj Allianz Two Wheeler Insurance |
| 62% |
| Bharti AXA Two Wheeler Insurance |
| 75% |
| Digit Two Wheeler Insurance |
| 76% |
| Edelweiss Two Wheeler Insurance |
| 145% |
| HDFC ERGO Two Wheeler Insurance |
| 85% |
| Iffco Tokio Two Wheeler Insurance |
| 87% |
| Kotak Two Wheeler Insurance |
| 74% |
Let’s discuss the benefits of these policies in detail
1. Bajaj Allianz Two Wheeler Insurance - Bajaj Allianz is one of the most trusted brands when it comes to two-wheeler insurance. Their customer-focused products and seamless experience makes Bajaj Allianz Two Wheeler Insurance top the list of best two-wheeler policies in India.
Here are some benefits of the policy:
- 4,500+ cashless garage network
- Third-Party Damage Covered
- Personal Accident Cover, in case of death or permanent disability due to an accident of INR 15 lakhs
- Easy No Claim Bonus (NCB) transfer
- No Claim Bonus (NCB) Transfer
- Covers loss and/or damage due to natural calamities like floods, earthquakes,etc
- Customizable Add-ons like Zero Depreciation, Engine Protector, Return to Invoice
- Incurred Claims Ratio: 62%
2. Bharti AXA Two Wheeler Insurance - Bharti AXA Two Wheeler Insurance provides its customers a wide range of products to choose from. Based on their needs, the buyer can invest in not just two-wheeler insurance but also add-on covers. These covers can be customized to provide better financial protection.
Here are some core features of the policy:
- 5200+ network garages
- 20% discount on long-term plans
- Discount for Automobile Association members
- 24*7 live agent for customer support
- Easy No Claim Bonus (NCB) transfer
- Zero documentation needed for issuing the policy
- Additional add-on covers
- Personal Accident Cover, in case of death or permanent disability due to an accident of INR 15 lakhs
- Instant online renewal
- Incurred Claims Ratio: 75%
3. Digit Two Wheeler Insurance - Digit Two Wheeler Insurance quickly gained popularity in the market due to its highly flexible two-wheeler insurance plan. Along with Comprehensive and Third Party Liability covers, it has an a list of premium services.
Here are some core features of the policy:
- Claims support via your smartphone
- Customize your insurance as per your needs
- Discount on long-term plans
- Easy No Claim Bonus (NCB) transfer
- Zero documentation
- Cashless repairing at 1000+ garages across India
- Additional add-on covers
- Personal Accident Cover, in case of death or permanent disability due to an accident of INR 15 lakhs
- Incurred Claims Ratio: 76%
4. Edelweiss Two Wheeler Insurance - With the highest Incurred Claim Ratio, buying an Edelweiss Two Wheeler Insurance guarantees superior protection. You can easily buy or renew your two-wheeler insurance online. Edelweiss provides a one-stop solution for all your insurance needs.
Here are some core features of the policy:
- Cashless servicing at 1500+ chosen garages across India
- Personal Accident Cover, in case of death or permanent disability due to an accident of INR 15 lakhs
- Zero documentation needed for issuing the policy
- Easy No Claim Bonus (NCB) transfer
- Instant online renewal
- Additional add-on covers depending on the needs
- Incurred Claims Ratio: 145%
5. HDFC ERGO Two Wheeler Insurance - HDFC ERGO Two Wheeler Insurance is yet another popular option among bike owners. It is known in the market for its outstanding customer support and ease of claim settlement process.
Here are some core features of the policy:
- Free repair and servicing at 6800+ chosen garages across India
- Customer’s voice box - a feature to collect customer feedback
- Zero documentation needed for renewal
- Personal Accident Cover, in case of death or permanent disability due to an accident of INR 15 lakhs
- Easy No Claim Bonus (NCB) transfer
- Multiple payment options
- Additional add-on covers depending on the needs
- Incurred Claims Ratio: 85%
6. Iffco Tokio Two Wheeler Insurance - Iffco Tokio Two Wheeler Insurance is a pocket-friendly plan targeting the mass population of bike riders in India. It focuses on providing financial protection and superior service at competitive premium rates.
Here are some core features of the policy:
- 4300+ network garages across India
- No inspection
- Zero documentation needed for issuing the policy
- Additional add-on covers depending on the needs
- One time payment of the premium amount
- Personal Accident Cover, in case of death or permanent disability due to an accident of INR 15 lakhs
- Easy No Claim Bonus (NCB) transfer
- Incurred Claims Ratio: 87%
7. Kotak Two Wheeler Insurance - Kotak Two Wheeler Insurance is another household name when it comes to two-wheeler insurance. With a wide network of cashless garages pan India, it aims to be the financial support in case of emergencies.
Here are some core features of the policy:
- Cashless servicing at 1300+ garages across India
- Personal Accident Cover, in case of death or permanent disability due to an accident of INR 15 lakhs
- Zero documentation needed for issuing the policy
- One time payment of the premium amount
- Easy No Claim Bonus (NCB) transfer
- Additional add-on covers depending on the needs
- Instant online renewal
- Incurred Claims Ratio: 74%
Summary:
As a two-wheeler owner, you need to have a Comprehensive Cover to protect yourself in times of emergencies. However, before buying, make it a point to compare the different insurance companies. Apart from the benefits and premium amount, look for the available add-on covers and premium discounts. It is also important to read and understand the exclusions of the two-wheeler insurance plan. Before finalizing your two-wheeler insurer, you can read the reviews and testimonials of the customers online to get an idea about the quality of customer service.
