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Riding your bike across Indian roads offers freedom—but it also comes with risks. That’s why two-wheeler insurance isn’t just a smart choice; it’s a legal must under the Indian Motor Vehicles Act. The right bike insurance policy protects you from financial stress caused by accidents, theft, natural disasters, and even fire. But with so many insurers out there, how do you know which one truly offers the best two-wheeler insurance?
The answer depends on a few simple things: your budget, the type of coverage you need, and how easily the company settles claims. Some insurers also offer helpful extras like roadside assistance or zero depreciation. Leading names like Bajaj Allianz, Acko, and HDFC Ergo have strong claim settlement records, making them trusted options for Indian riders.
Here’s a quick look at what makes these bike insurance companies stand out—so you can make the right choice, confidently.
Choosing the right insurer can significantly affect how smooth your claim process is and how much you save on premiums. Here is a list of top two-wheeler insurance companies in India, along with key features to help you compare options easily:
Bike Insurance Companies |
Incurred Claim Ratio |
Third-Party Cover |
No Claim Bonus |
|---|---|---|---|
Bajaj Allianz Two-wheeler Insurance |
68.06% |
Available |
Available |
Acko Bike Insurance |
82.35% |
Available |
Available |
Bharti AXA Two Wheeler Insurance |
75% |
Available |
Available |
Digit Two Wheeler Insurance |
76% |
Available |
Available |
Edelweiss Two Wheeler Insurance |
145% |
Available |
Available |
IFFCO Tokio Two Wheeler Insurance |
87% |
Available |
Available |
Kotak Mahindra Two Wheeler Insurance |
74% |
Available |
Available |
Liberty Two Wheeler Insurance |
70% |
Available |
Available |
National Two Wheeler Insurance |
127.50% |
Available |
Available |
New India Assurance Two Wheeler Insurance |
87.54% |
Available |
Available |
Navi Two Wheeler Insurance |
29% |
Available |
Available |
Oriental Two Wheeler Insurance |
112.60% |
Available |
Available |
Reliance Two Wheeler Insurance |
85% |
Available |
Available |
SBI Two Wheeler Insurance |
87% |
Available |
Available |
Shriram Two Wheeler Insurance |
69% |
Available |
Available |
TATA AIG Two Wheeler Insurance |
70% |
Available |
Available |
United India Two Wheeler Insurance |
120.79% |
Available |
Available |
Universal Sompo Two Wheeler Insurance |
76% |
Available |
Available |
HDFC ERGO Two-wheeler Insurance |
70.02% |
Available |
Available |
Choosing a reliable insurer ensures you won’t face delays or disappointments when you need help the most. Here are the essential factors to check before selecting the best two-wheeler insurance provider for your needs:
The claim settlement ratio (CSR) indicates how many claims a company approves compared to the total received. A higher CSR—usually above 85%—means the insurer is dependable when it comes to paying out. This is especially important during emergencies, where a delayed or rejected claim can add stress and financial burden.
Insurers that offer a wide cashless garage network allow you to get your bike repaired without paying upfront. You only cover the policy exclusions, and the rest is paid directly by the insurer. This is convenient and ensures quick service, especially if you meet with an accident far from home.
Riders are optional features that enhance your base policy. Common add-ons include zero depreciation cover, personal accident cover for pillion riders, engine protection, and roadside assistance. These provide extra protection for a small cost, giving you peace of mind without a major increase in premium.
An insurer with 24×7 customer care and helpful agents makes a big difference during a crisis. Look for companies that are easy to reach via phone, chat, or app. Reading reviews about support quality can help you avoid frustrating experiences during claims or policy renewals.
IDV is the current market value of your bike and the maximum sum insured. If your bike is stolen or suffers total loss, this is the amount you’ll receive. Insurers who let you adjust the IDV give you better control over your premium and claim value.
The cubic capacity of your bike directly affects your insurance cost—higher CC means a higher premium. Also, third-party insurance is cheaper but offers limited coverage, while comprehensive plans offer broader protection. Choose based on how often and where you ride your bike.
Verified online reviews help you learn from others’ experiences. Look for comments about claim delays, hidden charges, or helpful customer service. A company with positive, honest feedback is more likely to handle your needs efficiently.
Use online tools to compare plans from multiple bike insurance companies. You can easily check differences in coverage, premium, claim ratio, and add-ons—all in one place. This helps you make a smart, cost-effective decision without guesswork.
Understanding the different policy options helps you choose a plan that fits your needs and budget. Here are the three main types of two-wheeler insurance plans available in India:
This is the most basic and legally mandatory form of bike insurance policy under the Indian Motor Vehicles Act. It covers damages or injuries caused to a third party by your vehicle—such as harm to another person or their property. While it won’t cover damage to your own bike, it's a must-have for legal compliance and basic financial protection.
This plan protects your own bike against damage due to accidents, theft, fire, floods, or riots. It does not include third-party coverage, so it’s best used alongside a third-party policy. If you're looking for added flexibility, you can also include useful add-ons like zero depreciation or roadside assistance with this two-wheeler insurance policy.
As the name suggests, this plan gives complete protection. It covers both third-party liabilities and damage to your own vehicle. It’s ideal if you want wide-ranging cover in one policy. Comprehensive plans usually allow more customisation through bike insurance add-ons, making them a popular choice for all-round coverage.
Here’s a simple guide to help you buy your two-wheeler insurance policy on Bajaj Markets quickly and securely:
Visit the ‘Bike Insurance Premium Calculator’ section on Bajaj Markets to get started
Complete the application form by entering essential details like your two-wheeler’s registration number and contact number
Select the two-wheeler insurance plan that fits your needs, and choose any additional add-ons you want for extra coverage
Make the payment for your bike insurance premium securely online
That’s it! Once you complete these steps, your bike insurance policy documents will be sent to your registered email ID shortly.
It’s crucial to remember that two-wheeler insurance is mandatory if you own a bike in India. The two most common bike insurance options are third-party and comprehensive bike insurance plans, both offered by leading insurers. Today, many of the top bike insurance companies in India allow you to purchase their 2-wheeler insurance policies online. Bajaj Markets provides an easy platform to compare and choose from a variety of bike insurance plans that suit your needs.
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