Best Bike Insurance Companies in India

According to the Indian Motor Vehicles Act, bike owners are mandated by law to protect themselves with two-wheeler insurance. Bike insurance enables you to meet any financial obligations that may arise due to an accident, or mishaps such as thefts, landslides, earthquakes, fire, etc.

Numerous bike insurance companies offer two-wheeler insurance policies in India. However, this choice is crucial. There are several factors that determine whether a company is right for your insurance needs or not. As a customer, you can choose the best two-wheeler insurance policy among all the options based on factors such as your budget, add-ons available, and the claim settlement ratio of the company. Are you confused regarding the right policy for you? Let's explore a few of these companies. Bajaj Allianz Two-wheeler Insurance, Acko Bike Insurance, and HDFC Ergo two-wheeler insurance are among the best two-wheeler insurance companies in India. According to the data from 2020-2021, they have incurred claim ratios of 68.06%, 82.35% and 70.02% respectively.

Several two-wheeler insurance companies provide bike insurance in India. Here are some of the best two-wheeler insurance companies in India that have partnered with Bajaj Markets to offer the best two-wheeler insurance policies for you:

Two-wheeler insurance plans vary from insurer to insurer. These vary based on inclusions and exclusions, possibility of cashless repairs, availability of riders, cost of plans etc. Below are the three policy types that bike insurance providers offer:

Third-Party Insurance: According to the law, all bike owners must have third-party insurance for their bikes. This policy type protects against the losses caused to a third party if the insured vehicle is involved in an accident in them. Death, disability, and loss of property are all covered in this insurance type.

Standalone own damage cover: This policy type offers protection against losses and damages caused to the insured bike in case of a natural or man-made calamity. Combining a standalone own damage cover with a third-party liability cover can help to get complete coverage for the bike. You can also maximise the benefits by choosing riders over your base insurance plan.

Comprehensive insurance: Comprehensive insurance, as the name suggests, offers extensive coverage that protects against expenses incurred both due to third-party and own vehicle damages. 

Buying a bike insurance policy on Bajaj Markets is very convenient. You just need to follow the steps given below:

1.  Visit the ‘Bike Insurance Premium Calculator’ section on Bajaj Markets.

2.  Fill out the application form with the necessary details like the two-wheeler’s registration number and your contact number.

3.  Choose the two-wheeler insurance plan of your choice, along with the necessary add-on covers.

4.  Pay the bike insurance premium online.

That’s it! You will receive your bike insurance policy documents on your registered email ID soon after you complete the above steps.

Several bike insurance providers in India offer two-wheeler insurance plans. However, two-wheeler insurance providers provide various products based on their client's requirements and personal situations. You are, therefore, free to select the finest bike insurance coverage from the range of options provided by these firms. Let's consider a few of the best two-wheeler insurance companies in India and discuss how to pick the best two-wheeler insurance plan for your needs.

It is important to remember that two-wheeler insurance a mandatory if you own a two-wheeler in India. Third-party bike insurance and comprehensive bike insurance are the two popular bike insurance plans offered by insurance providers. The top bike insurance companies in India now offer their two-wheeler insurance policies online. Choose a bike insurance plan at Bajaj Markets if you're seeking the best online bike insurance company in India.