There are different types of two wheeler insurance plans in India. They provide coverage for all types of two-wheelers, including scooters, motorcycles, scooties, and mopeds. These insurance policies are Comprehensive Two-Wheeler Insurance, Third-Party Coverage and Own Damage Cover.
- Comprehensive Insurance Policy: Comprehensive insurance plans provide coverage for you and your bike at the time of an accident. They cover your bike in case it is damaged due to a fire, accident, theft, natural calamities, man-made disasters, self-ignition, explosion, and so on. At the same time, this policy also provides coverage for the third party and to their two-wheeler as well.
- Third Party Bike Insurance: Third-party bike insurance is mandatory in India. It covers your financial liability for the damages caused to a vehicle, person, or property by your two-wheeler, which is already insured. This particular policy provides coverage for temporary, injuries, and compulsory requirements. It also covers the death of the third party person because of an accident or an accident with the involvement of the insured’s bike.
- Own-Damage Bike Insurance: This type of insurance policy covers own damage sustained by the insured motorcycle due to theft, accident, fire, natural disaster and man-made calamity. It provides flexibility to customers to choose an insurance company of their choice. You can buy a third-party policy and own-damage policy either from the same insurer or a different one.
Every motor insurance company offers the three insurance plans. Besides, you can also purchase add-on coverage along with your base policy by paying extra premiums to enhance your cover. When you buy Two Wheeler Insurance Plans in India 2022, you should compare different bike insurance, and evaluate their features to choose one that fits your budget.
Some of the best two-wheeler insurance policies are: SBI Two Wheeler Insurance, Acko General Two-Wheeler Insurance Policy, Bajaj Allianz Two Wheeler Insurance, Bharti AXA Two Wheeler Insurance, Digit Two Wheeler Insurance, IFFCO Tokio Two Wheeler Insurance, Kotak Mahindra Two Wheeler Insurance, National Two Wheeler Insurance, Navi Two Wheeler Insurance, Shriram Two Wheeler Insurance, TATA AIG Two Wheeler Insurance and more.
SBI Two-Wheeler Insurance Policy
SBI is one of the known government companies which offers multiple financial services like banking, mutual funds, insurance, etc. If you go with SBI General’s Two-Wheeler Insurance Policy, you can get comprehensive protection for your bike and any third-party damages that may arise.
- Coverage Under the Policy
- Protection in case of losses due to natural calamities like earthquakes
- Coverage in case of damages caused by man-made calamities like terrorist activity, riots
- Protection against any liability due to death or damage caused to third parties
The policy comes with a custom pricing model based on your needs. Special discounts are available for individuals between the age of 25 and 55 years. NCB benefit is also available.
Acko General Two-Wheeler Insurance Policy
Third-party insurance, standalone own-damage insurance, and comprehensive insurance plans are the three basic types of insurance provided by Acko General. The two-wheeler insurance provides coverage for losses due to accidents, natural disasters, fires, theft, or riot. It also provides protection against damage and injuries. The plan also covers everything that Third-party insurance covers. The best part is that the ACKO offers a complete online service. No inspection or paperwork is required for purchasing two-wheeler insurance.
When you buy two-wheeler insurance from Acko General, you’ll enjoy benefits like low premiums, superquick and easy buying process, easy, effortless and 100% digital and Hassle-free claim settlement.
Bajaj Allianz Two Wheeler Insurance Policy
Bajaj Allianz offers you bike insurance which benefits you on a larger scale. They offer a multi-year policy. So, from year 1 to year 3, you can secure your vehicle for 3 years. Not only that, they offer optional add-on covers which are chargeable and covered Under The Comprehensive Two Wheeler Insurance Policy. Some of the add-on covers they provide are zero depreciation, no claim bonus, 24×7 roadside assistance, engine protection, consumable expenses cover, and personal accident cover for pillion riders.
IFFCO Tokio Two Wheeler Insurance
Two Wheeler Insurance plans offered by Iffco Tokio is another plan you can buy in 2022 in India. The policy is designed in a way to safeguard you against the financial impact of accidents, natural calamities & other unfortunate events that could harm your bike. Either buy Third-party insurance or comprehensive insurance products depending on your requirements.
A large garage network across the country, an easy and hassle-free claim process, and affordable premiums are some of the benefits you’ll enjoy with the policy. Besides, you can also buy multiple add ons cover along with your bike insurance policy.
Bharti AXA Two Wheeler Insurance
Like other insurers, Bharti AXA also offers bike insurance with strong customer support, personal accident cover, no paperwork, instant policy issuance, smooth claim settlement facility and much more. The bike insurance includes Third Party, Standalone Own-Damage and Comprehensive Insurance Policy.
Bharti AXA Two Wheeler Insurance is designed to cover two-wheeler owner/driver from the uncertainties or mishaps during driving your insured bike. The policy provides financial assistance for the damages which provides financial stability to the two-wheeler owner in case an unforeseen event takes place.
GoDigit Two Wheeler Insurance
GoDigit Two Wheeler Insurance is another popular bike insurance you can buy online. GoDigit offers cover for damages and losses that may arise due to an accident or collision, your losses in case your insured bike is stolen or an accidental fire. The cover is also available for nature’s furies like floods, cyclones, earthquakes, etc. Under the policy, the insurance covers your expenses in case you severely hurt yourself or if the vehicle or property is hurt or damaged due to your bike’s actions.
There are no good or bad two-wheeler insurance plans in India. Every company out there is offering the best plan that suits your needs, and budget. So, when you are buying any two-wheeler policy, remember to analyze your needs and add on covers the company offers. Additionally, look for the network garages near you. More the garages, the easier will be for you to get the claim. Lastly, do look for a claim ratio to ensure how many claims the company has settled by now and if you can trust them or not. Besides, check Add-on Covers if available to enhance the policy coverage.