Insurance Companies September 7, 2019
Table of Contents
- 1 Free List of Top Best Bike Insurance Companies in India
- 2 2019 List of Best Top 5+ Bike Insurance Companies in India
- 2.1 Bajaj Allianz Bike Insurance Company
- 2.2 ICICI Lombard Bike Insurance Company
- 2.3 HDFC Ergo Bike Insurance Company
- 2.4 New India Assurance Bike Insurance Company
- 2.5 TATA AIG Bike Insurance Company
- 2.6 Reliance Bike Insurance Company
Free List of Top Best Bike Insurance Companies in India
Bike Insurance is an insurance policy which helps to cover any damage or losses incurred in relation to a two-wheeler. According to the Indian Law of Motor Vehicle Act of 1988, it is mandatory for all kinds of vehicles to have a valid insurance policy. It is illegal to use any kind of vehicle including bikes without a valid insurance policy and doing so may lead you to pay a penalty. Moreover, insurance helps you with financial coverage in the event of an unfortunate event which may occur while using your two-wheeler including any damage to the vehicle, third party damages, injury to the person riding pillion or any pedestrian.
There are a number of Private Insurance Companies offering great value for money deals and purchase premiums to ensure the safety of you and your bike while on the roads. With secure Two-wheeler insurance, you can enjoy legal protection as well as freedom from financial stress.
2019 List of Best Top 5+ Bike Insurance Companies in India
Here are the names of a few Bike Insurance Companies which provide the best of services in this field:
Bajaj Allianz Bike Insurance Company
Bajaj Allianz Insurance is one of the most trusted and popular names when it comes to two-wheeler insurance. It has earned many accolades and appreciations in the form of awards and recognition for its consistent services, reliability, and customer-oriented approach. Bajaj Allianz has created a niche for itself by providing round the clock customer services with more than 400 functional garages catering all kinds of services.
The Bajaj Allianz Bike Insurance is a comprehensive policy plan covering losses or damage caused by natural calamities, man-made calamities like theft, riot, etc., third party legal liabilities and personal accident cover of up to Rs.1 lakh. The company offers all of this at an affordable and convenient premium.
You can avail the facility of buying the Bajaj Allianz Bike Insurance policy online at the click of a button doing away with the prolonged process of paperwork. The same is also applicable for the renewal process of an existing policy. Some of the key features which make Bajaj Allianz Bike Insurance a feasible option are:
- Zero Claim Bonus Transfer: Zero claim bonus is a bonus for zero claims made on the policy during the tenure. If you decide to switch to Bajaj Allianz Insurance from any other insurance provider you can avail the benefit of transferring 50% of your Zero claim bonus from your old policy to the new one.
- Easy Claim Settlement: Bajaj Allianz boasts of fast, easy and cashless claim settlements in a hassle-free manner making them the preferred choice of many.
- Easy Renewal: You can renew your Bajaj Allianz Insurance Policy online without any inspection or other formalities.
Types of Bajaj Allianz Bike Insurance Policy
- 3-Year Long Term Package
- One Year Package Policy
ICICI Lombard Bike Insurance Company
ICICI Lombard has gained popularity in the field of Bike Insurance with its comprehensive policy covering losses and damages caused to your two-wheeler. The company has built a name for itself in the competitive insurance market with immaculate service provided through a skilled workforce and easy procurement processes.
You can purchase your ICICI Lombard Bike Insurance policy online with the added advantage of renewal on the expiry of the policy without any inspection. The policy provides insurance cover for losses and damage caused to the bike due to accidents as well as for medical expenses for the owner or the rider of the vehicle arising thereon. Death benefits can also be availed in the event of the death of the insured driver as per the policy. Third-party legal liability and repair and replacement of spare parts are also covered under the policy.
Listed below are some distinctive features of the ICICI Lombard Bike Insurance:
- Recipient of the Celent Asia Insurance Technology Award, ICICI Lombard Bike Insurance has successfully used technological advancements for customer satisfaction.
- It has a wide network of 3000 garages across the length and breadth of the country for all kinds of repairs and services.
- It provides the exclusive insurance cover for damage to the electrical and nonelectrical parts of the vehicle.
HDFC Ergo Bike Insurance Company
Next in line is the HDFC Ergo Bike Insurance which is a worldwide known brand in this field. The company has a strong foothold in India with more than 1600 garages spread over 90 cities across the country. The HDFC Ergo is recognized with an ISO (International Organisation of Standardization) certificate for its integrated and prompt services. It also is the awardee for the iAAA rating denoting its high number of claim paying ability.
The HDFC Ergo Bike Insurance policy covers the insured vehicle against all damages and losses incurred by accidents, fire, explosions, theft, natural calamities, third party liability and personal accident cover up to Rs.1 lakh. The owner of the two-wheeler is entitled to this cover in the event of an accident resulting in death or permanent disability which is given to the nominee of the policy.
- The highlight of the HDFC Ergo Bike Insurance policy is the zero depreciation cover where no amount is deducted from the claim settlement amount resulting from depreciation. This, however, excludes tyres and battery costs.
- The HDFC Ergo also covers some emergency services like replacing lost keys, changing of tyres, towing facilities and fuel tank emptying in cases of breakdowns.
Types of HDFC Ergo Bike Insurance
- Third party Insurance Policy
- Single Year Comprehensive Insurance
- Long Term Two Wheeler Comprehensive Insurance
New India Assurance Bike Insurance Company
The New India Assurance Bike Insurance is a Government of India undertaking which functions across 27 countries worldwide. The company has emerged as a name to reckon with as it has been accredited with an ‘A’ rating by a USA based rating agency in addition to many other certifications and acknowledgments from various institutions.
New India Assurance Bike Insurance offers two types of policies where consumers can choose from the liability only policy and the comprehensive package policy. Policyholders can claim compensations in cases of legal liability caused due to third party accidental death, any disability or property damage. Accident cover in cases of accidental death or disability of the rider or the owner and insurance against damage, theft, natural calamities or riots are also duly covered by the policy. The New India Assurance Bike Insurance is known for its fast and easy claim processing which has created trust and popularity for the policy among the people.
Types of New India Assurance Bike Insurance
- Third-Party Liability Cover
- Package Policy
TATA AIG Bike Insurance Company
TATA AIG is a joint initiative of the TATA group with an American conglomerate, American International Group (AIG) which commenced business on 22 January 2001. This collaboration has brought about a significant market to its fore with its world-class services and products. Spread across more than 152 branches across India, it offers both online and offline assistance to the customers.
TATA AIG Bike Insurance offers complete protection to the policyholder covering all kinds of third party liability including death or permanent disability in addition to personal accident cover and cashless garage services. Other expenses covered under the policy include losses caused by fire, explosion, theft, natural disasters, and transit damages. The add-on package facilities of depreciation reimbursement lost key replacement, zero claim bonus and return invoice are some of its key features which give maximum benefits to the insured party.
- Another distinctive feature of the TATA AIG Bike Insurance policy is the coverage provided for personal belongings lost or damaged in an accident of the insured vehicle.
- The company offers to settle claims within 7 working days providing for a hassle-free and quick recovery of losses to the insured.
Types of TATA AIG Bike Insurance
- Third-Party Liability Policy
- Package Policy
- Long Term Two Wheeler Insurance
Reliance Bike Insurance Company
Reliance General Insurance is a renowned name in the Insurance business and the Bike Insurance Policy of the company offers a wide range of services and products to the customers. With over 4450 garages placed strategically across the country, it provides cashless garage services along with the benefits of insurance cover for your two-wheeler.
The company offers a 5-minute policy issuance with minimum paperwork thereby making the process fast and easy for the customers. The Reliance Bike Insurance policy covers the insured vehicle against losses and damages caused due to accidents on the road, natural calamities, theft, and fire or explosions. All third party liabilities are also undertaken by the policy in addition to personal accident cover.
Types of Reliance Bike Insurance
- Third-Party Liability Policy
- Comprehensive Policy
Bike protection is not only a legal requirement but also an important measure to keep yourself secured and covered in the event of any kind of mishap or untoward incident. Choosing a suitable and affordable insurance policy for your prized two-wheeler is a daunting task in the competitive world of today. Weigh your pros and cons as per your requirements before taking up the rightful policy for your bike.