Top 10 Best Two Wheeler Insurance Companies In India 2024

When shopping for a best bike insurance policy, you should consider a company's costs, available discounts, customer service reviews and claims-filing process. We used these factors to determine the best two wheeler insurance company overall, by state, as well as for specific driver profiles.

When looking for affordable bike insurance, remember that the best two wheeler insurance policy isn’t always the cheapest. This is why we've compiled a resource to help you determine which Bike insurance companies are considered the best by both customers and third-party reviewers.

The best bike insurance companies are based on average premiums, customer services, and coverages. 2022’s best bike insurance companies provide affordable coverage, a variety of insurance types, and plenty discounts.

Best Bike insurance companies can be found in this article itself by comparing different insurance companies and selecting the one that fulfills your requirement.

1. Raheja QBE Bike Insurance
2. Edelweiss Bike Insurance
3. Universal Sompo Bike Insurance
4. Royal Sundaram Bike Insurance
5. SBI Bike Insurance
6. IFFCO TOKIO Bike Insurance
7. Navi Bike Insurance
8. Acko Bike Insurance
9. Oriental Bike Insurance
10. Shriram Bike Insurance.

Some of the insurers here may not be the cheapest, but it is worth considering what you get for your money including the quality of service. Your responses gave us useful insights into the overall customer experience, including making a claim.

*Above mentioned values are from the IRDAI Regulation for exact readings check individual companies.*

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Best Bike Insurance Companies:-

The best bike insurance companies give their customers more than just coverage they want at a reasonable price. They also provide a customer-first experience, including a headache-free way to manage policies and make payments. To pinpoint the best auto insurance companies, we looked at customer complaints data, consumer experience and financial strength.
If you’re shopping for bike insurance, there is no shortage of insurers available. While there are many different two wheeler insurance providers, not all companies will offer the coverage you need at a price you can afford.
With so many options, it is important to find one that aligns with your budget and your coverage needs. To help you narrow down your choices, we’ve evaluated several top insurance providers. Based on our in-depth, expert analysis, these are the best Bike insurance companies for 2022.

How to Choose the Right Two Wheeler Insurance Company in India?

A bike insurance company which has a wider network of cashless garages is the best, while for others the Two Wheeler insurer which features the highest claim settlement ratio is the best.  Thus, there are a number of parameters on the basis of which bike insurance company becomes the best for an individual. Followings are the factors which you must consider when choosing a bike insurance company:

1. Claim Settlement Ratio: The claim settlement ratio is the percentage of claims settled by a Two Wheeler insurance company out of the total number of claims received by it in a financial year. The higher the claim settlement ratio, the better it is. Thus, you should choose a bike insurance company with a good claim settlement ratio.

2. Network of Cashless Garages: Every Two Wheeler insurance company maintains a network of garages at which it allows cashless claim facilities. While choosing a bike insurance company, it is important to check which all garages (especially the ones in your locality) are a part of the insurer’s network.

3. Availability of Add-on Covers: Two-wheeler Insurance add-on coversare the extra covers which can be opted with own-damage and comprehensive Two Wheeler insurance plans to extend the coverage of a standard bike insurance plan. These add-ons are available against the payment of a nominal premium. You must check if the insurance company chosen by you offers the add-on covers which you want to add to your standard Two Wheeler insurance plan.

4. Customer Support Service: Another important factor to consider while choosing a Two Wheeler insurance company is the availability and quality of the customer support services offered by it. You should choose a company which offers 24*7 customer support. This helps in the easy resolution of your queries and provides you with timely assistance when required.

5. Reliability: The first thing that you should look for while choosing a two-wheeler insurance company is its reliability. It is directly linked to customer satisfaction. To get an insight into the same, you can go online and read reviews about the company's service. If they seem to be positive, you can trust the financial safety of your two-wheeler in their hands.

6. Premium: The simplest way of choosing a two-wheeler insurance policy is to select the one which offers maximum benefits in the lowest bike insurance premium. A policy that fits in your budget shall be decided by the amount of premium you are required to pay. The amount of bike insurance premium is directly affected by various factors like the engine of your bike, make and model of your vehicle, mileage covered etc.

Compare Two Wheeler Insurance Companies in India 2022:

There are many insurance companies in India that offer two-wheeler insurance. However, it is important to compare them so that you can get the best deal. The companies that offer two-wheeler insurance in India are:

1) Raheja QBE Bike Insurance

2) Edelweiss Bike Insurance

3) Universal Sompo Bike Insurance

4) Royal Sundaram Bike Insurance

5) SBI Bike Insurance

6) IFFCO TOKIO Bike Insurance

7) Navi Bike Insurance

8) Acko Bike Insurance

9) Oriental Bike Insurance

10) Shriram Bike Insurance

What is Covered in Bike Insurance Policy?

Conclusion:

After comparing costs, service, and coverage offerings from 10 best bike insurance providers, we created a list of the top 10 best companies for every type of driver to make it easy to find your best bike insurance

Cost is important, but the best bike insurance companies offer more than just the lowest rates. The best companies combine affordability, with fast claims processing, reliable customer service, and lots of available coverage types for complete protection.

You may select from the above list of the best two-wheeler insurance companies in India 2022. Before making a final decision, it is typically a good idea to compare two-wheeler insurance online in terms of benefits, limits, price, and other key variables.

Frequently Asked Questions:

What should you Consider Before Choosing a Two Wheeler Company?

Nowadays, you can conveniently purchase bike insurance online. However, before you purchase a two-wheeler insurance plan online or offline, you must be aware of the parameters that need to be considered while purchasing the best bike insurance policy for you and your two-wheeler. Some of these parameters are:

• Insurer’s Cashless Network Garages
• Insurer’s Claim Settlement Ratio
• Availability of Riders
• Customer Bikee Support.

What are the Important factors to consider while choosing a bike insurance policy?

As you could see there are many insurance companies that offer bike insurance with great benefits, however along with meeting your needs of insurance always remember to consider few other factors while choosing the best plan for yourself;

• Cashless network of two-wheeler workshops
• Easy and convenient policy purchase and renewal process
• Trust-worthy and reliable brand
• High Claims settlement ratio
• Facility of unlimited claims
• Availability of wide-ranging Add-ons
• Lower premiums for plans
• Good discounts offered on plans
• Wide coverage and protection offered on different plans
• Excellent Customer Bikee service
• Smooth online digital payment options available
• Choice of customized pricing on plans
• No hidden costs or value depreciation traps
• Added benefits of NCB and several discounts for settlement free period.