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Best Two-wheeler Insurance Plans in India for 2022

By Vikas Chandra Das
02 August 2022, 2:45 PM

All Indian drivers are required to have third-party two-wheeler insurance under the Motor Vehicles Act, 1988. Given the vast array of insurance companies in the nation, choosing the best bike insurance plan has become a challenge for vehicle owners. While some bike insurance plans offer high coverage, the premium seems too high for many. Whereas some plans have a lower premium, the coverage remains inadequate to feel assured. So, as a bike insurance buyer, look for a policy offering maximum coverage in exchange for a reasonable premium. Value-added features (if any) will add to your joy. To assist you in making your choice, we have included the most popular private and public insurance companies below. 

IFFCO Tokio Bike Insurance

Since 2000, IFFCO Tokio General Insurance Company Limited has provided its clients with a wide range of insurance products. It has a vast nationwide network and offers cashless services in more than 4,300 cashless garages. In FY 2021, this top insurance provider attained a claim settlement percentage of 95.82%. It intends to provide a range of insurance options to residents of rural regions.

Key Elements of IFFCO Tokio Bike Insurance

  • Within four hours, claims are resolved.
  • Customer help for claims is offered around the clock.
  • A nationwide system of more than 4,300 cashless garages provides cashless repairs.
  • There are discounts, and eight individualised add-on covers available.
  • High 98.35% claim resolution ratio.

Bajaj Allianz Two-wheeler Insurance

When it comes to two-wheeler insurance, Bajaj Allianz is one of the most favoured brands due to its customer-focused approach and dependability. IDC Financial Insights Innovation Awards have named the organisation the "Best Insurer in India 2020." It has provided goods and services to over 11 crore clients. By the end of the third quarter of FY 2021–2022, Bajaj Allianz had generated a revenue of Rs. 10,488 crores. 24/7 assistance and quick and simple claims help are its distinguishing features.

Key Elements

  • With no hassles and annual policy renewal, three-year multi-year bike insurance is available.
  • Simple and hassle-free claim settlement process.
  • Online policy purchases or renewals are easy.
  • Customer assistance is available 24 hours a day.
  • There is a nil depreciation add-on protection option.
  • No vehicle inspection is required for online policy renewal.

Royal Sundaram Bike Insurance

Royal Sundaram General Insurance is renowned for its cutting-edge general insurance solutions created for families, individuals, and organisations. With 158 locations across India, this well-known insurance company has assisted 28 million clients. The business takes pride in being the first insurer to provide a cashless method of settling claims. Simple and quick claim resolution and reasonable premiums are distinguishing features of Royal Sundaram bike insurance.

Key Elements

  • Cheap costs for two-wheeler insurance policies.
  • Long-term insurance is offered for up to three years.
  • Quick and simple claim resolution within ten days.
  • There isn't a lot of paperwork needed.

SBI Bike Insurance

SBI General Insurance serves retail, SME, and corporate markets and is present in more than 110 cities in India. One of the most sought-after products on the market, SBI General two-wheeler insurance policy is comprehensive and includes a variety of customer-centric perks. Customised pricing based on candidate profiles and additional savings are its distinguishing features.

Key Elements

  • Personalised pricing depends on consumer profile.
  • People between the ages of 25 and 55 receive a discount when purchasing insurance.
  • Additional savings and rewards for timely insurance renewal.

New India Two-wheeler Insurance

New India Assurance, a fully-owned subsidiary of the government, conducts business globally in excess of Rs. 31,573 crores and is present in 28 different countries. With more than 2214 offices and 11086 micro offices, New India Assurance is present all across the country. It has several ratings that show the firm has the greatest level of financial capacity to fulfil the commitments of the policyholders, making it the only direct insurer in India to have an "A" grade from AM Best. Quick claims processing and a flawless grievance resolution system are its distinguishing features.

Key Elements of New India Bike Insurance

  • Insurance buyers have two options: the straightforward "Liability alone insurance" or the all-inclusive "Package policy."
  • Add-on coverage for accessories, personal accident insurance, passenger insurance, and paid drivers are available.

Tata AIG Two-Wheeler Insurance 

One of the two-wheeler insurance providers with quality coverage is Tata AIG. It has excellent success rates that give its reputation additional credibility. Tata AIG bike insurance add-ons assist you in acquiring extra benefits. 

Key Elements

  • It offers paperless insurance solutions using digital means.

HDFC ERGO Bike Insurance

An established provider of two-wheeler insurance, HDFC ERGO General Insurance Company, enables customers to get coverage at substantial savings. Additionally, the firm provides a complete two-wheeler insurance plan, third-party coverage plan, standalone own damage coverage plan, and brand-new bike coverage.

Key Elements

  • It offers the option of limitless claims and features a 6800-space network garage.

Read more - Importance of Two Wheeler Insurance


The above-mentioned companies are the best insurance providers that can help you protect your two-wheeler. You can compare the policies offered by these companies on Paytm Insurance and choose the one that suits your requirements. 

Read more - Tips to Choose the Most Suitable Two-wheeler Insurance in India


1. What should you do if your bike gets stolen or lost?

If your bike gets stolen or lost, the key things you need to do are:

  1. File a First Information Report (FIR)
  2. Inform Your Insurance Provider
  3. Inform The Regional Transport Office (RTO)
  4. Submit All Claim-Related Documents & Bike Keys
  5. Get a No-Trace Report from the Police

2. Does a bike insurance policy cover theft in India?

Yes, two-wheeler insurance policies in India cover theft and damage to the bike. However, there are two insurance policies that cover theft-comprehensive and standalone own damage bike insurance plans.

3. Why is bike insurance important?

A bike insurance policy provides financial support to a motorist’s family if the motorist dies in a road accident. It also covers the legal liabilities against a third party caused by your insured bike. 

4. How can you check bike insurance through the VAHAN website?

  • Open the official website of VAHAN.
  • Register with your phone number and email ID. You will get a One Time Password (OTP). Enter it in the box provided to create an account. Ignore this step if you already have an account since you can log in with your user ID and password.
  • After logging in, find the ‘Know Your Vehicle Details’’ tab and click on it.
  • Enter the Vehicle Registration Number of your motorcycle.
  • The website will display all pertinent information about your bike insurance policy, including its expiry date.
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