When it comes to buying a two wheeler, there are a lot of things we must consider. Like its mileage, affordability, comfort, and of course looks. No matters, whatever the facet, if you buy a two-wheeler, you have to buy two wheeler insurance as well. In a nutshell, you can avoid life insurance, but you can’t avoid bike insurance because it is mandatory. But, before buying Bike insurance, you have to look at many things. To make this process easier, we have listed everything related to the two wheeler insurance.
Two Wheeler Insurance Details
- Two Wheeler insurance cover financial expenses against any unexpected situations such as accident, theft or natural disasters. Even small defects and minor changes also cover in Two Wheeler insurance policies.
- You are only eligible for Bike insurance if you are eligible to ride the bike.
- Two Wheeler insurance policy comes with your bike for one year. After that, you can renew it.
- You are free to purchase the insurance plans according to your needs.
- If an individual maintains a clean ridding record, he will get a better premium for Two Wheeler insurance.
- A Bike insurance plan is a one year plan. Hence, if there is no claim, the company pays nothing.
Bike/Two Wheeler Insurance Companies
Insurance companies have become the important aspect in the lives of people and organizations because they offer the best to way to deal with the unforeseen worst situations such as a risk of accident, falling ill, fire, the risk of natural disasters, and lastly the risk of life. The whole insurance marketplace all over the world is getting redefined because of technological changes. Like, you don’t have to visit the branch of your insurance company to renew or claim the policy. By accessing the website you can do so. Bike insurance doesn’t recover your physical damage but takes care of the financial pain. If you are looking for the best two wheeler insurance company, then you have come to the right place.
Top 5 Best Two Wheeler Insurance Companies in India Where you can Buy/Renew Check price Online
Here, we have listed the top 5 best Two Wheeler Insurance companies. The Following list focuses on a number of factors, and the insurance companies on it are no in particular orders.
Bharti Axa Two Wheeler Insurance
This is yet another great name in the Insurance sector. Bharti Axa was in the year 2005, with an aim to offer a number of innovative financial plans, it is one of the preferred Best general insurance companies brands in terms of two wheeler insurance. The company through customer care services has become much more customer focused and provide them security and innovative services.
The Key Features of Bharti Axa Two Wheeler Insurance:
- This company covers the damage due to fire, accident, stolen, natural and man-made calamities, bike accident can result in injury and death and disabilities cover for the bike owner.
- If a driver drives a bike without driving license or under the influence of alcohol then insurance would not be claimed.
- Physical damage of bike is not covered unless it is damaged due to the opponent.
- Round the clock customer care service available.
HDFC Ergo Bike Insurance
HDFC Ergo Bike Insurance was founded in the year 2002 since it has been offering innovative insurance products to ensure financial protection in case of an unfortunate event. The group has a presence in more than 58 cities with 109 offices in India. With so much happing on the road, two wheeler insurance plans certainly help you reduce your economic stress.
The Key Features of HDFC Ergo Bike Insurance:
- Two wheeler insurance policy is available both for private and commercial vehicles.
- Tow wheeler insurance policy protecting businesses from economic loss due to accident or damage to vehicles.
- All day and night customer care service is available when you find yourself in an unwanted situation.
- All two wheeler insurance policy plan covers against man-made, and natural disasters.
- This company offers two products – two-wheeler comprehensive insurance and two-wheeler liability only.
ICICI Lombard Two Wheeler Insurance
ICIC Lombard was founded in 2000, with the aim to provide insurance solutions to the customers based on their needs and requirements. Along with the good brand value and trustable 24X7 customer service the company focuses on financial education and social inclusion.
The Key Features of ICICI Lombard Two Wheeler Insurance:
- This company provides comprehensive protection against accident, theft, fire, third-party liability, and natural disasters.
- Round the clock customer care available.
- Hassle-free insurance purchase and claim process.
- High service standard.
Reliance Two Wheeler Insurance
The reliance insurance company was incorporated in the year 2000 in India. Since then, it has been very competitive in the insurance market, and operated in 500 cities and has over 600 insurance offices. It offers numerous range of financial products to both retail and corporate customers.
The Key Features of Reliance Two Wheeler Insurance.
- This company offers you a discount on buying an insurance policy.
- Gives you a claim against manmade and natural disasters.
- 24X7 round the clock customer services available.
- Hassle free policy buy, renew and claim process.
Iffco Tokio Bike Insurance
The Company is best known for its reliability and customer oriented approach. Iffco Tokio was originated in the year 2000 since then has contributed a lot in insurance services. Iffco Tokio Two Wheeler Insurance includes coverage for legal liabilities following death, injury or property damage due to the opponent party, arising out of vehicle use.
The Key Features of Iffco Tokio Bike Insurance:
- The third party coverage up to 70,000 and personal accident up to 2,00,000.
- Round the clock customers services available to guide you.
- A multitude of emergency assistance services can be accessed at a small extra premium rate
- The IFFCO Tokio Bike insurance payment can be initiated in 4 modes; Cash, Cheque, Net banking, Debit, and Card.
Above mentioned two wheeler insurance companies have reputable names in the Insurance market. So, pick any insurance company from the list and buy a policy plan that suits your requirements.
Two Wheeler Insurance- Buy/Renew Check Online Price
There is no doubt, the internet has made everything simpler and easier for finance. All top general insurance companies established themselves on the internet. Now, anyone can buy Two Wheeler insurance through online platforms. Here we have listed, how you can buy a Bike insurance policy online.
How to Purchase Bike Insurance Online?
- First and foremost, head over to the company’s website from where you have to buy a two wheeler insurance policy.
- Next, visit the insurance page and submit the information such as RTO location, first registration number, manufacturer name, and a model number.
- Once you submitted the information, you will get the call from the insurance party and then they will guide you the further process.
Important Note: For a customer, it is important to know the insurance policy number in order to access the status of their Two Wheeler insurance all the times.
How to Check Two Wheeler Insurance Status Online and Download PDF?
- Enter your two-wheeler details – Model number or Vehicle number.
- After that, the registration details of your two-wheeler like RTO location.
- Finally, click on get status.
Claim Process of Two Wheeler Insurance
Now with the help of the internet, you can claim through the insurance sites where the insured is registered. Here, we have listed the procedure, so simply follow these steps and you will be soon on your way to being quicker claim settlement.
- Fill the Two Wheeler claim insurance form that you will get from your respective insurance website.
- Once you registered the claim, in a less 24 hours you will get a call from a representative, he will explain to you the complete procedure and what documents you will have to submit. Important note- you know the opponent vehicle number which is involved in an accident, and one eyewitness name and contact number. These are the mandatory aspects that will use to furnish the claiming process.
- After file an FIR, then take the vehicle to the recommended garage. After that insurance company will appoint a surveyor who will check the vehicle. And the surveyor makes the payment on the completion of the repair.
Two Wheeler Insurance- FAQs
Q. Which type of insurance is best for two-wheeler?
Ans. A Comprehensive type of two wheeler insurance policy is considered as the best two-wheeler insurance policy because of its coverage. It covers the mandatory Third-party Liability Insurance as well as Own Damage.
Q. What is the cost of two-wheeler insurance?
Ans. The bike insurance policy in India ranges between ₹1,000 – ₹5,000.
Q. What is 1st 2nd and 3rd party bike insurance?
Ans. In Terms of Two Wheeler Policy First-party refers to the insured individual, second-party is the insurance provider, and third party is the person towards whom damages is occurs.