Top 5 Bike Insurance Online
When you look for bike insurance online, you need to be sure that you have seen and compared all relevant policies before shortlisting one. If you are an adult and possess a two-wheeler and a driving license, you must have a two-wheeler license.
While your first two-wheeler policy would be the one that comes along with your vehicle and would be valid for a year, you can choose to continue with it or opt for a different service provider of your choice. Remember, your insurance policy is going to be your friend-in-need when you need financial cover in case of any untoward incident on the road and hence must cover all those factors that you deem necessary.
Best Deals on Online Bike Insurance
Let us look at the top 5 best plans in online bike insurance which gives you the best of features and accident cover coupled with a good claims settlement ratio and exemplary customer support.
#1. HDFC Ergo Two Wheeler Insurance
This service provider features first in our list due to its hassle-free processing and renewal policy. You would get a 24/7 customer support and the online documentation is also hassle-free and simple. The service provider has a network of around 1,600+ network garages across India.
You would get a personal accident cover of INR 1 lakh and can choose between a policy term of 1 years or 3 years. With HDFC Ergo, you would get third party coverage against any legal liability, damage, death, or injury due to accidents involving your vehicle. You would also get a cover against expenses due to any damage, injury or calamities (man-made or natural)
#2. ICICI Lombard
ICICI Lombard offers you affordable policies when compared to most of its competitors in the market. It gives you INR 1 lakh personal cover and has a network of around 2000+ network garages across India. It also gives your third party accident cover and covers for pillion rider also.
You can renew your policy without having to get your vehicle inspected making the entire process pretty hassle-free. When you purchase your bike insurance online, you can also get the copy of your policy immediately. You can even opt for additional add-on covers based on your need. You would also get regular updates and reminders of policy renewals from time-to-time.
#3. Bajaj Allianz
With over 3000 network garages across India, this service provider gives you quick support and cashless repair services in case of any breakdown or repair anywhere across India. You would be able to port more than 50% of the no-claim bonus when you port from some other insurance policy.
Apart from the INR 1 lakh personal accident cover, you would also get third party cover which would secure you financially in case of an accident involving a third party vehicle which might lead to legal disputes, damage to the vehicle, injury or death of the third-party involved. You can opt for add-on covers to secure you against loss of accessories, and personal accident for the pillion rider
#4. New India Assurance
This is another name that tops our list of online bike insurance service providers in India. Though it has a limited network of garages across India, it compensates it with its high incurred claim ratio of around 87%. You can opt for a liability-only policy or the comprehensive plan as per your requirement. In addition, you can also buy additional add-on covers for your accessories, pillion rider, and paid driver.
#5. SBI General Insurance
With SBI general insurance, you would be able to get a profile-based pricing for every policy. In case your policy has been continuously renewed, you would be able to get additional discounts in your premium and if you haven’t made any claim for a year you can avail a discount in premium as high as 50%. However, SBI doesn’t include damage to the vehicle in case of ageing or depreciation of the vehicle and mechanical or electrical breakdown. You can avail cover of INR 1 lakh along with the standard cover for the rider (INR 1 lakh) for the pillion rider for a slightly higher premium.
Is Your Service Provider Giving You The Best Deals?
When you compare bike insurance online, you need to check if you are getting the best deal and in case of renewals, you need to analyse if your current service provider is giving you the best of features and deals. For this, your comparison must be centred around the following factors:
- No Claim Bonus
- Damage Cover to Self and for the Pillion rider
- Premium Amount
- Additional coverage (that is, covers apart from that of collisions) and Third-Party Cover
- Medical Cover
- Cashless Facility in network Garages across India
- Incurred Claim Ratio
Comparing your policies on aggregator portals like Coverfox.com would help you analyse and select from a plethora of options and find the best one for your two-wheeler.