According to the Motor Vehicle Act of 1988, it is mandatory for all vehicle owners to carry a valid Third Party Insurance Cover while riding. However, in terms of coverage, this plan is usually insufficient. Therefore, two-wheeler owners prefer to opt for wider coverage with a Comprehensive Cover. Earlier, there were only a limited number of insurance providers. However, the scenario is very different today.
To help you make a quick and informed decision, the following table compares the top 10 two-wheeler insurance providers in India. All of these insurers are regulated by the Insurance Regulatory and Development Authority (IRDAI).
INSURANCE COMPANY | INCURRED CLAIM RATIO | THIRD PARTY DAMAGE | PERSONAL ACCIDENTAL COVER | POLICY TERM | CASHLESS GARAGES | NO CLAIM BONUS |
|---|---|---|---|---|---|---|
| Bajaj Allianz Two Wheeler Insurance | 62% | Covered | INR 15 lakhs | 1 year | 4500+ | Available |
| Bharti AXA Two Wheeler Insurance | 75% | Covered | INR 15 lakhs | 1 year | 5200+ | Available |
| Digit Two Wheeler Insurance | 76% | Covered | INR 15 lakhs | 1 year | 1000+ | Available |
| Edelweiss Two Wheeler Insurance | 145% | Covered | INR 15 lakhs | 1 year | 1500+ | Available |
| HDFC ERGO Two Wheeler Insurance | 85% | Covered | INR 15 lakhs | 1 year | 6800+ | Available |
| Iffco Tokio Two Wheeler Insurance | 87% | Covered | INR 15 lakhs | 1 year | 4300+ | Available |
| Kotak Two Wheeler Insurance | 74% | Covered | INR 15 lakhs | 1 year | 1300+ | Available |
| Liberty General Two Wheeler Insurance | 70% | Covered | INR 15 lakhs | 1 year | 4300+ | Available |
| National Insurance Two Wheeler | 127% | Covered | INR 15 lakhs | 1 year | 3200+ | Available |
| Oriental Bike Insurance | 122% | Covered | INR 15 lakhs | 1 year | 3100+ | Available |
Benefits of Buying a Two-wheeler Policy From These Companies In Detail
1. Bajaj Allianz Two Wheeler Insurance - Bajaj Allianz is one of the trusted names when it comes to two-wheeler insurance. With their customer-oriented products and seamless service, Bajaj Allianz Two Wheeler Insurance tops the list of best two-wheeler policies in India.
Here are some core features of the policy:
- Free servicing at chosen garages across India
- Zero documentation needed for issuing the policy
- 24*7 customer support for claims and other matters
- Quick and easy claim settlement with Incurred Claim Ratio of 62%
- SMS updates regarding the claim status
- Instant online renewal
2. Bharti AXA Two Wheeler Insurance - Bharti AXA Two Wheeler Insurance offers a wide range of products to select from. Based on the needs of the buyer, add-on products can be customized to provide better financial protection.
Here are some core features of the policy:
- 20% discount on long-term plans
- Discount for Automobile Association members
- 24*7 live agent for customer support
- Multiple payment options
- Incurred Claim Ratio of 75%
- Zero documentation needed for issuing the policy
- Free servicing at chosen garages across India
- Additional add-on covers
- Instant online renewal
3. Digit Two Wheeler Insurance - Digit Two Wheeler Insurance has gained popularity due to its highly customizable two-wheeler insurance plan. Along with Own Damage, it provides a Third Party Liability cover too.
Here are some core features of the policy:
- Customize your insurance as per your needs
- Zero documentation is needed for issuing the policy
- Discount on long-term plans
- Cashless repairing at chosen garages across India
- Claims support available on your smartphone
- Multiple payment options
- Incurred Claim Ratio of 76%
- Additional add-on covers
- Instant online renewal
4. Edelweiss Two Wheeler Insurance - Buying an Edelweiss Two Wheeler Insurance is a seamless experience. With the highest Incurred Claim Ratio, you can easily buy and renew your two-wheeler insurance online. It provides a one-stop solution for all your insurance needs.
Here are some core features of the policy:
- Incurred Claim Ratio of 145%
- Cashless repairing at chosen garages across India
- Multiple payment options
- Zero documentation needed for issuing the policy
- Additional add-on covers depending on the needs
- Instant online renewal
5. HDFC ERGO Two Wheeler Insurance - HDFC ERGO Two Wheeler Insurance is another popular option for its outstanding customer support and ease of settlement process.
Here are some core features of the policy:
- Customer’s voice box - a feature to collect customer feedback
- Zero documentation needed for issuing the policy
- Free repair and servicing at chosen garages across India
- Multiple payment options
- Additional add-on covers depending on the needs.
- Incurred Claim Ratio of 85%
- Instant online renewal
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:
- Free repair and servicing at chosen 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
- Incurred Claim Ratio of 87%
- Instant online renewal
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
- Zero documentation needed for issuing the policy
- One time payment of the premium amount
- Additional add-on covers depending on the needs
- Incurred Claim Ratio of 74%
- Instant online renewal
8. Liberty General Two Wheeler Insurance - Apart from the mandatory Third Party Liability, Liberty General Two Wheeler Insurance provides protection against natural as well as human emergencies like floods, earthquakes, riots, strikes, theft, etc.
Here are some core features of the policy:
- Free repair and servicing at chosen garages across India
- Zero documentation needed for issuing the policy
- Additional add-on covers depending on the needs
- One time payment of the premium amount
- Incurred Claim Ratio of 70%
- Instant online renewal
9. National Insurance Two Wheeler - With one of the highest Incurred Claim Ratio, National Insurance allows owners to buy and renew their two-wheeler insurance online to protect their vehicle.
Here are some core features of the policy:
- Free repair and servicing at chosen garages across India
- No inspection
- Zero documentation
- Additional add-on covers depending on the needs
- Track Claim Status Online
- Incurred Claim Ratio of 127%
- Instant online renewal
10. Oriental Bike Insurance - Oriental Bike Insurance provides a convenient option for bike owners to keep themselves financially secure by covering the damages and losses incurred by the policyholder at the time of emergencies.
Here are some core features of the policy:
- Free repair and servicing at chosen garages across India
- No inspection
- Zero documentation
- Additional add-on covers depending on the needs
- One time payment of the premium amount
- Incurred Claim Ratio of 87%
- Instant online renewal
Summary:
As an owner, it is best to choose a Comprehensive Cover for your two-wheeler. However, before buying, make sure you compare different insurance companies based on benefits, premium amount, add-on covers available and term of the policy. It is also important to read and understand the exclusions of the two-wheeler policy. Additionally, you can read the reviews and testimonials of the customers online and compare quotes before finalizing your two-wheeler insurer.
