Complete List of the Best Two-Wheeler Insurance Companies in India in 2020

The spike in the rate of road accidents had led the Indian Government to make it mandatory for all the two-wheeler owners to have a two-wheeler insurance. The insurance provides coverage to both the third party that has suffered loss as well as to the insured of the two-wheeler.

The insurance covers help the insureds financially during an accident and also provides protection against other risks such as natural calamities and theft. Apart from this, some of the insurance packages offer coverage on repairing costs.

Holding an insurance policy helps the bike owners to be on the right side of the law. Hence, to be stress-free and enjoy benefits, you may check out the following list of the best two wheeler insurance offer available in the financial market.

Best Two-Wheeler Insurance Companies in India 2020

Some of the best two wheeler insurance available in the market are the following:

Bharti AXA Two Wheeler Insurance

The Bharti AXA’s two-wheeler insurance policy provides financial protection against damage to the owner/rider and his two-wheeler. Besides, it offers to incur all the losses from natural disasters, theft and accident.

The Bharti AXA has been gaining an edge over other insurance providers because of the number of claims settled by it among its customers. Apart from that, the customers have access to the services at every point of time. It’s just one call away. Owing to these facilities, it has been regarded as one of the best two wheeler insurance companies in India.

HDFC Ergo Two wheeler Insurance

HDFC Ergo holds the most trustworthy name in the insurance industry in India. The facilities offered by this insurance company makes it one of the best in the insurance arena.

The claim settlement ratio reported by it has been 94%. It provides a cashless repair facility as it has a network with over 4,800 garages throughout the country.  Before offering protection to its customers, the company takes into consideration all possible risks associated with the vehicle, thus, making it affordable for all and providing a cushion to relax during any mishap. 

Bajaj Allianz Two Wheeler Insurance

Getting assured with an insurance policy for the two-wheelers by Bajaj Allianz is the most relaxing option to opt. The company offers long-term plans that cover most of the costs associated with the two-wheeler vehicle. 

Bajaj Allianz specializes in providing an extensive facility through its vast garage network. It provides around 75% in cash without cashless installation. It makes provision for its insured to meet their requirements as soon as possible.

IFFCO Tokio Two wheeler Insurance

IFFCO Tokio, a popular name in the two wheeler insurance sector, provides accessible facilities to its customers. Apart from offering protection to the owner and the vehicle from all possible risks, it offers full compensation for any damage under the insurance. It even provides auto insurance against fires, disorders, theft, explosions, strikes, terrorist and other unexpected acts.

The insurance also adheres on providing financial assistance against other acts of force such as earthquakes, hurricanes, tsunami, floods and etc. On availing this insurance policy, you can provide protection to your tangible asset and come to your rescue under severe cases of damage and crisis.

The beneficial feature of IFFCO Tokio is that the customer receives an instant copy of the policy. The company also offers a hassle-free claim settlement procedure. Besides, it also offers a no-claim bonus to its customers for not availing the policy during a given period of time. For instance, if the customer does not avail the policy in the first year of purchase of the policy then, the company offers a discount of up to 20% on the renewal of the policy and so on.

TATA AIG Two-Wheeler Insurance

Offering the best comprehensive insurance policy along with several other perks makes TATA AIG two wheeler insurance one of the best two-wheeler insurance companies in India. The key features of TATA AIG two-wheeler insurance policy are as follows:

• A direct online claim platform is available for the insured.
• In the case of an accident, a free pick-up of the vehicle from the site is done.
• The claim settlement ratio has been reported to be impeccable. The settlement is assured within seven days on filling the claim.
• Add on covers are available on the policy.
• In fact, besides the coverage on the vehicle, the company also compensates for the loss of personal belongings inside the insured two-wheeler in case of an accident.

Many companies have been offering insurance policies in the country. However, before opting for a policy the customers have to keep in check that if the facilities promised by the company are actually offered or not. The insured should make sure that he looks for provisions such as the claim settlement ratio, better coverage, policy tenure, the premium to be paid, the network of garages and add-on coverage offered. An individual can easily avoid the hassle of claiming the policy by availing it from the best two-wheeler insurance company.

Disclaimer: This is author’s personal opinion. Financeminutes does not intend to endorse any insurance company. Readers are advised to perform their research before choosing any option.