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Best Motorcycle Insurance in India

The moment you buy a bike in India, you need to insure it properly with a motor insurance plan. It is compulsory to get a third party liability insurance policy for your bike. Getting a comprehensive cover is optional. Whether you choose a third-party plan or a comprehensive plan, you need to get the policy from a very good insurance provider. Thankfully, there are many excellent insurance companies in India that offer excellent bike insurance covers. Find a good insurer and get the best motor insurance from them.

Overview of the best bike insurance companies  

What makes the bike insurance companies in India so good? There are many factors behind this, such as a claim process, good customer support and an excellent digital presence. Here’s a detailed overview:

  1. Good features in the plans

The first and the most obvious point to look out for is the available coverage under the 2 wheeler insurance plan that you buy. There are some common features that are found in all the third party as well as comprehensive plans of all the insurance companies. However, some insurers include some add-on covers in their regular plans. When looking for the best two-wheeler insurance plan, look for the maximum scope of cover as that will help you to keep your vehicle protected in a truly wholesome manner.

Some of the must-have features in your bike insurance plan are:

  1. Comprehensive bike insurance plan with a high IDV
  2. Zero depreciation rider in your bike insurance plan
  3. Personal accident cover for the pillion rider
  4. Key replacement coverage
  5. NCB protect for new bikes
  6. Engine protect in flood-prone areas
  7. Claim process

The next crucial factor to check is the claim settlement process of your favoured bike insurance company. A good indicator of this is the claim settlement ratio. The higher the claim settlement ratio, the higher if your chances of getting a hassle-free claim.

However, the claim process is way more than just the claim settlement ratio. You need to check the network garages, where you can get a cashless claim as well as the claim process. Usually, for a cashless garage, the entire claim process is taken care of by the garage itself. However, for a reimbursement claim, you would have to call the surveyor before getting the repair work done. So, knowing the entire claim process and the ease of settling it is very important. Some bike insurance companies allow you to take photos and upload them in their application for processing a claim. This makes the process efficient, especially in today’s parlance where no one has time at hand to spare.

  1. Good  customer support

The next point to consider is the insurance company’s customer support services. You need to choose a 2 wheeler insurance company that has a good and helpful customer support team. This will ensure that you can reach out and get your queries solved as and when needed. Unless this service is offered, do not choose that particular insurance provider.

Service support with efficient chatbots and applications make the process efficient and hence desirable.

  1. Impressive digital presence

And finally, you need to look for an insurer that has an impressive digital presence. The best motorcycle insurance companies all have a good website and mobile app from where you can buy the plan, renew it, initiate claims, etc. Look for this service when buying your bike insurance policy.

One of the easiest ways to check this is to navigate through the company’s social media handles and the mobile phone application. If the app is efficient with easy and customer friendly processes, the entire experience will be good.

When you are looking to buy the best 2 wheeler insurance, you must try to get the plan from the best possible bike insurance company. Look for the above-mentioned features and then choose your plan from the best motorcycle insurance company.

List of the best bike insurance companies

Here is a list of the best motor insurance companies in India:

  • Bajaj Allianz Two Wheeler Insurance 
  • Bharti AXA Two Wheeler Insurance
  • HDFC Ergo Two Wheeler Insurance
  • National Insurance Two Wheeler Insurance
  • New India Assurance Two Wheeler Insurance
  • Oriental Two Wheeler Insurance
  • United India Two Wheeler Insurance
  • SBI General Two Wheeler Insurance
  • Reliance General Two Wheeler Insurance
  • Universal Sompo Two Wheeler Insurance
  • Tata AIG Two Wheeler Insurance
  • Shriram Two Wheeler Insurance
  • Kotak Two Wheeler Insurance
  • IFFCO TOKIO Two Wheeler Insurance
  • Liberty Two Wheeler Insurance
  • Go Digit Two Wheeler Insurance
  • Acko Two Wheeler Insurance
  • Cholamandalam MS Two Wheeler Insurance
  • ICICI Lombard Two Wheeler Insurance
  • Royal Sundaram Two Wheeler Insurance
  • Future Generali Two Wheeler Insurance

These are the best motorcycle insurance companies in India that offer very good bike insurance plans loaded with features and covers.

Criteria for selecting the best motor insurance plan

Everyone has different needs from their motor insurance plans. To ensure you find the best motorcycle insurance for yourself, check the following criteria when choosing:

  1. Type of plan 

There are different types of bike insurance plans available in India. First and foremost, you have the compulsory third party liability cover. 

  1. New Bike:
    As per the laws, you need to have a third party liability cover for 5 years if you buy a new bike. Then, there are the bundled plans that offer a third party liability cover for five years and an own damage cover for one year. And finally, there are comprehensive plans that combine the third party liability cover and the own damage cover.
  2. Old Bike:
    If however, your bike is old, you don’t have to compulsorily buy the third party cover for 5 years at a go. Therefore, you need to assess your needs and see which type of bike insurance is best suited for you and then choose the best motor insurance for yourself.
  3. Riders

The riders form an important criterion in bike insurance. A rider offers add-on protection and you need to buy the riders additionally with a comprehensive plan. The common bike insurance riders are zero depreciation rider, engine cover rider, roadside assistance rider, etc. Go over the clause of each rider to understand the coverage available.

Then, weigh them against your own requirements and get the best and the most effective ones. A good comprehensive plan with the best riders will surely prove to be the best motorcycle insurance policy.

  1. Tenure

A bike insurance cover can be purchased for different durations. You can have regular plans or long term plans. To ensure you have the best 2 wheeler insurance, you need to select the ideal policy period too.

For example, if you have a new bike, you can opt for a long-term comprehensive policy. If you have an old bike that you wish to replace soon, a one-year third party liability cover may be enough. Assess your needs and then select the best two-wheeler insurance plan with the best tenure.

  1. Cost

And last but not the least, you need to get a plan that matches your budget. The two-wheeler insurance policy that you choose should not be too expensive as then you will struggle to pay the premium on time. It is advisable for you to compare the bike insurance quotes and then find a good plan with the best features and covers. It is also helpful to make a budget beforehand so that you know which price bracket to look in.  

If you find a plan that matches all of your requirements and suitability criteria, you should buy it instantly and keep your bike protected.

Table comparing best bike insurance

Name of Insurance CompanyIncurred claim ratio*Network garages
Bajaj Allianz Two Wheeler Insurance 65.8%4500
Bharti AXA Two Wheeler Insurance81.9%5300
HDFC Ergo Two Wheeler Insurance72.9%7000
National Insurance Two Wheeler Insurance116.4%3100
New India Assurance Two Wheeler Insurance85.3%1200
Oriental Two Wheeler Insurance101.6%2500
United India Two Wheeler Insurance96.4%1000
SBI General Two Wheeler Insurance92%10,000
Universal Sompo Two Wheeler Insurance89.5%3500

* The incurred claim ratio is the total amount of claim settled as the total amount of money collected as a premium.

In conclusion

If you are looking for the best motorcycle insurance plan, then try getting the cover from one of the best motor insurance companies in India. Keep all the points mentioned above in mind and choose wisely. Assess your own needs, make a budget and then compare. Doing so will allow you to locate the best 2 wheeler insurance cover with which you can cover your vehicle in a well-rounded manner. 

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