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Top 5 Two Wheeler Insurance Providers In 2017

Inderpal Ahluwalia 21 September 2017

India is the world’s biggest two wheeler market and there is a plethora of options when it comes to companies offering two wheeler insurance. This article helps you narrow down your search.

Top Two wheeler insurance providers

In 2016-17 alone close to a whopping 18 million two wheelers were sold in India. Two wheeler has become the most popular vehicle category in India as it is the most economical, speedy and convenient transport option available in Indian cities today. It also offers ease of mobility in the frustrating and ever growing traffic jams. In rural parts of India, it is preferred as it is a cheap mode of transport, provides a good mileage and adjusts well even in off-road conditions. Also, the trend of group bike riding clubs has been growing a lot in the last few years. This trend has attracted the best of bike companies from all over the world to come to India and sell their bikes here.

In spite of all the benefits of a two wheeler, it is also equally dangerous to ride on Indian roads and an accident can lead to a heavy loss, physically and financially. Hence, it is imperative to have a two wheeler insurance to cover financial loss. Also, as per the Motor Vehicles Act 1988, it is a mandatory requirement to have a valid two wheeler insurance in India.

With the ever-growing two wheeler market, there are also many companies that are offering two wheeler insurance. Check out the brief overview of the top 5 two wheeler insurance providers in 2017.

HDFC ERGO General Insurance Company Limited

  • HDFC Ergo provides good two wheeler insurance plans with a comprehensive coverage covering potential risk of theft, accidental damage, third party liability and other perils.
  • Instant online policy and renewal from the comfort of your home.
  • 94% claim settlement ratio! Get your claim approved within 24 hours of your two wheeler reaching the garage.
  • Wide range of IDVs to select from, for your two wheeler.
  • Two wheeler insurance plans are provided at an affordable premium rates.
  • The company is known for round the clock customer service. Experts provide 24X7 toll free assistance for claim support in 10 different languages.
  • Get long term coverage with HDFC Ergo which comes with 1,2 or 3 years of policy options.
  • Options to enhance coverage with emergency road side assistance and zero depreciation add-ons.

ICICI Lombard General Insurance Company Limited

  • ICICI is one of largest general insurance companies in India.
  • It provides coverage due to natural or man-made calamities, including personal accidents and terrorism attacks.
  • It covers third party liability of accidental damages or permanent injury or death.
  • Instant policy issue with online purchase.
  • Additional coverage for electric and non-electric accessories. For example – fog light, music system, seat covers, etc.
  • A vast network of around 2150+ garages nationwide.
  • 24/7 customer service to help in claim settlement.
  • Towing services charges of up to Rs.1500 covered.
  • Online approval for minor claims through cashless network dealers.
  • Add-on co passenger cover available.
  • Additional NCB (No Claim Bonus) for long term two wheeler policyholders.

Reliance General Insurance

  • Reliance general insurance provides comprehensive coverage against natural and man-made calamities.
  • Instant online policy renewal, no paperwork is required.
  • It provides third party liability cover if there is damage due to the insured’s vehicle.
  • Around 2100 network garages in India and allowance on towing charges.
  • Dedicated customer support for claims and assistance.
  • Multiple choices of add-on covers like Zero depreciation and Personal accident bundle cover to enhance protection as per requirement.
  • Quick claims settlement promise.

Bajaj Allianz General Insurance

  • Bajaj Allianz General Insurance is one of the leading two wheeler insurance provider in India.
  • Long term insurance of up to 3 years available in single policy.
  • It offers coverage on all accidents either natural calamities like floods, earthquakes, cyclones, etc or man made calamities like terrorist activity, theft, riot etc.
  • It also provides coverage on third party liability in case of accidental injury or death and also in case of property damage.
  • It offers round the clock quick and easy claims support, even on holidays.
  • Offers instant policy renewal online.
  • Hassle free claim settlement.
  • Zero depreciation add-on cover available.

Tata AIG General Insurance Company Limited

  • Tata AIG General Insurance covers partial or total loss to vehicle arising out of accidental damage or other perils.
  • Add on covers option available for wider and extensive coverage.
  • Third party liability which includes property as well as well as bodily injury.
  • NCB (No Claims Bonus) discount on premium for claim-free policy years.
  • Option to claim online.
  • Dedicated customer support for easy claim assistance.
  • Save on own damage premium, get protection from increase in third party premium and save yourself from the hassles of renewal with the long-term two wheeler package policy for a maximum period of 3 years.

Once you have selected the insurance company for your two wheeler policy make sure you go through the policy offering in details.

So, if you want to keep your balance in life going, then get your ride insured before you take it out next time.