Top 6 Two-wheeler Insurance Policies Available in the Market

For every two-wheeler owner, a comprehensive insurance policy is absolutely necessary. Having one doesn’t just help him/her claim reimbursements for any repairs but also allows them to resolve any legal obligations brought about by an accident. While it is extremely simple to find hundreds of policies on the internet, it’s hard to figure out a policy that suits you best. In this page, you will learn about some of the best two wheeler insurance policies you can buy right now.

Bajaj Allianz Two-Wheeler Insurance

Brought to you by the business association between Bajaj Finserv Limited and Allianz SE, a European financial service company, this is one of the best policies to buy right now. Apart from offering you comprehensive coverage, here are some features that make up the crux of this policy:

  • Allows you to renew expired policies or file transfer requests without the need to provide any additional documentation or inspection.
  • Offers an easy, online buying/renewal process.
  • Allows you to transfer up to 50% of your No Claim Bonus from any insurance provider.
  • Offers a quick claim settlement process.
  • Provides 24/7 telephone assistance for help regarding claims. This service is also available on holidays.
  • Provides third party liability cover of up to Rs. 1 lakh.
  • Is available for vehicles that are less than 15 years old.

HDFC ERGO Two-Wheeler Insurance

The HDFC Ergo is yet another Indo-Euro partnership that’s helping people take care of their insurance requirements. This company is an amalgamation of HDFC Limited and Germany-based Ergo International AG. Key features of the firm’s two wheeler insurance are as follows:

  • Offers instant policy issuance coupled with quick claim settlement process.
  • Doesn’t require any additional documents to renew expired policies or policy transfers and can be done without the need for any inspections.
  • Offers third party cover of over Rs. 1 lakh.
  • Comes with a Zero Depreciation add-on cover, which can be included by paying a little extra premium.
  • While the Zero Depreciation cover is only available for vehicles not older than 2 years, the policy otherwise is applicable for bikes that are less than or equal to 15 years old.
  • Has a claim settlement ratio of 95%.
  • Damage estimate and claim approval will be done within 24 hours of the bike reaching a garage.

Reliance Two-wheeler Insurance

This is brought to you by Reliance General Insurance Limited, a subsidiary of Reliance Capital. Some important features of this policy are listed below:

  • Offers up to Rs.1 lakh as third party liability cover.
  • Provides the policy instantly after the application procedure is complete and the documents are verified.
  • Offers a relatively swift claim process to settle any and all of your claims.
  • Available for vehicles that are less than 10 years old.
  • Offers cashless facility across 159 network garages.
  • No Claim Bonus is available after the first year of buying a policy and ranges from 20%-50%.

New India Assurance India Two-wheeler Insurance

New India Assurance, formed in 1919, is one of the oldest and completely government-owned insurance companies in the country. The two-wheeler insurance policy they offer comes with plenty of good features. Here’s a few of them listed for you:

  • Provides third-party liability cover for up to Rs.1 lakh.
  • Adheres to a instant policy issuance process to make buying insurance hassle-free.
  • Offers zero depreciation cover for two-wheelers, which is available for bikes that are less than or equal to 58 months.
  • Available for vehicles that are less than 10 years old.
  • Pays for all the expenses in case a bike is damaged due to an accident.

Bharti AXA Two-Wheeler Insurance

This policy is the brainchild of Bharti Enterprises, an Indian conglomerate,  and AXA Group, a French company. It comes with a number of features to help the policyholder. Some of these features are:

  • It offers a facility wherein policyholders can renew their expired policies without needing to go through any inspection or providing documentation.
  • The policy offers Rs.1 lakh coverage against third party legal liability cases.
  • The provider follows an instant policy issuance process.
  • Available for vehicles that are less than 10 years old.
  • Has cashless facility available across 2,000 network garages.

ICICI Lombard Two-wheeler Insurance

ICICI Lombard two-wheeler insurance is yet another policy available for motorcycle owners. Below are some of its features and benefits listed for you:

  • Offers policy tenures ranging from 1, 2, and 3 years, which lets policyholders pay the premium for more than a year at once.
  • Has over 2150+ garages under its umbrella network.
  • Follow a no inspection policy during the renewal of an expired policy.
  • Offers an add-on cover to safeguard co-passengers.
  • Also has an add-on cover which takes care of a bike’s electrical and non-electrical accessories.

These are the top 6 insurance policies available for two-wheelers around the country. In case, you don’t already have one or have an expired policy, make sure to get a new policy to keep yourself safe from any financial liability.

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