Top 10 Best Bike Insurance Companies in India

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.Read More

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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.

Top 10 Best Bike Insurance Companies in India

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.

Companies Claim Settlement Ratio Cashless Garages
Raheja QBE 100.51 1300+
Edelweiss 93.38 2000+
Universal Sompo 87.96 3500+
Royal Sundaram 87.89 4600+
SBI 86.1 5000+
IFFCO TOKIO 84.04 4300+
Navi 82.91 1100+
Acko 82.35 1300+
Oriental 81.83 2000+
Shriram 79.43 1800+

*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.

Companies Discounts
“Economical and convenient services” Shriram Bike Insurance
  • Save up to 50%
  • Third party covers up to 7.5 lakhs.
“Best for customizable premiums” Oriental Bike Insurance
  • Save up to 75%
  • Personal accident cover up to 15 lakhs.
“Reliable Claim Assistance” Acko Bike Insurance
  • Save 93% of up to Rs. 1200 on Bike Insurance
  • Premium starts at Rs. 2094
“Low Premiums” Edelweiss Bike Insurance
  • EMI Protector
  • 50% discount on own damage premium.
“Advanced Options” IFFCO TOKIO Bike Insurance
  • Save up to 70% on premium
  • Personal Accident cover is up to Rs. 15 lakhs
“Best discounts for Advanced Purchase” Navi Bike Insurance
  • Premium starts at Rs. 2072
  • Third party liability is up to Rs. 7.5 lakhs.
“Good Claim Settlement Ratio” Raheja QBE Bike Insurance
  • Save upto 75% on Premium
  • Customer oriented approach
“Best services” Royal Sundaram Bike Insurance
  • 100% invoice insurance price
  • Personal Accident Cover is up to Rs. 2 Lakhs.
“Best for Budgeting” SBI Bike Insurance
  • Save up to 85% on premium
  • Third party price for less than 1000 cc Bikes is Rs. 1500.
“Affordable Premiums” Universal Sompo Bike Insurance
  • Personal Accident cover is up to Rs. 15 lakh for Owner-driver.
  • Third Party up to Rs. 7.5 lakh.

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

Why Choose it?

Raheja QBE Insurance shines with its optional coverage options, its claims process and low level of complaints, which helps it overcome only average rates.

Benefits:-

  • Quick claim settlement process
  • Readily available customer support
  • Instant policy issuance and faster process.

Highlights:-

  • A+ Rating by Standard and Poor's Insurance Financial Strength
  • Simple & hassle-free communication.
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2) Edelweiss Bike Insurance

Why Choose it?

Edelweiss offers decent Bike insurance rates for all Bike owners and many helpful add-on coverages. The level of complaints against it for Bike insurance is very low, making it a company to check out if you’re shopping for Bike insurance.

Benefits:-

  • Good customer support
  • Priority services at preferred workshops
  • Quick claim settlement.

Highlights:-

  • SAP ACE Award
  • Swift claims settlement
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3) Universal Sompo Bike Insurance

Why Choose it?

The company is well known for its high customer ratings and affordable coverage options, including accident forgiveness. However, it has strict eligibility requirements and not everyone qualifies for coverage.

Benefits:-

  • Quick claim settlement
  • Instantaneous purchase
  • Wide range of add-ons
  • 24x7 claim assistance
  • Robust customer support system.

Highlights:-

  • Robust customer support
  • 24x7 emergency assistance
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4) Royal Sundaram Bike Insurance

Why Choose it?

Royal Sundaram offers a superior selection of coverage options, from accident forgiveness to disappearing deductibles. It also has a track record for low Bike insurance complaints, which helps offset rates that are usually higher than its top competitors.

Benefits:-

  • Good and hassle-free pre-sales and post-sales services
  • Towing facility – spot repair services
  • On-time Services
  • 24x7 claim assistance.

Highlights:-

  • 24x7 roadside assistance
  • Awarded Best BFSI Brand 2021
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5) SBI Bike Insurance

Why Choose it?

SBI has good coverage offerings and a top score for its collision repair claims processes. These advantages offset SBI’s Bike insurance rates, which are a mixed bag depending on your driving record.

Benefits:-

  • Easy and hassle-free purchase process
  • 24x7 claim assistance.

Highlights:-

  • iAAA Rating by ICRA Award
  • Personal accident cover for passenger cover is Rs. 2 lakhs.
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6) IFFCO TOKIO Bike Insurance

Why Choose it?

The company has many optional offerings that can give you better insurance protection, making it a good choice to look at when comparison shopping.

Benefits:-

  • Instant digital copy of the policy
  • Quick and hassle-free claim settlement
  • On-road protector coverage
  • Surveyors for immediate claim initiation.

Highlights:-

  • Claims can be made by QCS App
  • Online and telephonic claims.
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7) Navi Bike Insurance

Why Choose it?

Navi has pretty affordable rates for motorists with many types of needs, making it a good company for various driver profiles. The company gives its policyholders a sense of empowerment with financial independence through an extensive range of affordable products and a seamless customer experience.

Benefits:-

  • Insurance coverage
  • Legal liability
  • Financial security
  • Affordable premiums.

Highlights:-

  • Digitally enabled claim process
  • Allow customers to request unlimited calls.
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8) Acko Bike Insurance

Why Choose it?

Acko has very competitive Bike insurance rates for many types of Bike owners, which makes it worth a look if you want cheap Bike insurance. It has low level of Bike insurance complaints are another reason to consider Acko Bike Insurance.

Benefits:-

  • 24x7 emergency assistance
  • A dedicated claims team
  • Claim approval within 7 days
  • 1 day pick up for repairs
  • 3 step door delivery at no cost

Highlights:-

  • 3 day doorstep delivery
  • 1 hour pickup
  • Instant repairs
  • Highly rated go-to-app.
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9) Oriental Bike Insurance

Why Choose it?

The company provides great and innovative products for its customers. Oriental Bike Insurance Plans have been deliberated to gratify the need for protection cover for our cherished vehicle.

Benefits:-

  • Premium Discounts
  • Cashless repair facility
  • Excellent customer service.

Highlights:-

  • Voluntary Deductible
  • Discount for Anti Theft Device
  • If no claim is preferred in the expiring Policy, a Bonus or Discount NO CLAIM BONUS is given on the Premium of the new Policy
  • Automobile Association Membership discount
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10) Shriram Bike Insurance

Why Choose it?

Shriram as the best Bike insurance for customizable premiums because of its Name Your Price tool, which allows drivers to shop for coverage according to their budget.

Benefits:-

  • 24x7 Hassle-free claim process
  • Survey and assistance within a day
  • Simple claim procedure
  • Updated claim status.

Highlights:-

  • Zero depth policy
  • 24x7 emergency assistance.
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What is Covered in Bike Insurance Policy?

Bike Insurance Coverage Third-Party Cover Comprehensive Cover Standalone Cover
Damage/losses caused to your bike due to accident
Theft of two-wheeler
Damage incurred due to fire
Damage/losses due to natural calamity
Damage to property and third party vehicle
Personal Accident Cover (if opted)
Injury/ Death of Third Party due to an accident

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.

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