Bike insurance is compulsory if you have a bike and you want to drive it within India. The Indian Motor Vehicles Act, 1988 mandates having a valid bike insurance policy for all bike owners. Given the necessity, mostly all general insurance companies offer a two wheeler insurance policy. Amidst so many companies, do you know which are the best bike insurance providers in India?
Though all general insurance companies offer good bike insurance policies, here are seven of the top rated companies in 2020 –
- HDFC Ergo General Insurance Company
HDFC Ergo is a leading name in the general insurance segment which offers a range of general insurance plans, both retail as well as commercial. Some of the salient features of the company include the
- The company has a customer base of more than 1 million
- Claims are approved within 30 minutes and claim can be intimated online making it easier for the policyholders
- 24*7 support is provided for all your queries and needs
- Bajaj Allianz General Insurance Company
Another leading name, Bajaj Allianz offers several unique benefits to customers which makes it a top rated bike insurance provider. These benefits include the following –
- The company is tied-up with more than 4000 garages across India for cashless claim settlements
- If cashless facility is not available, the company settles 75% on account
- A quick inspection is required in case of lapsed policies
- Motor on the Spot claim settlement service is offered by the company wherein claims can be filed through mobiles for quick settlements
- Bharti AXA General Insurance Company
Bharti AXA offers both comprehensive as well as third party liability policies which have some of the most comprehensive coverage benefits. The benefits of buying the policy from Bharti AXA include the
- A network of 3800+ garages for easy cashless claims
- 24*7 claim assistance services
- Attractive discounts on premiums so that the policy becomes affordable
- The New India Assurance Company Limited
New India is a public sector general insurance company which enjoys immense trust from its customers. The features which make the company’s bike insurance plans attractive are as follows –
- A range of add-on covers are available for customising the plan and for making it comprehensive
- The company has international presence in about 28 countries
- CRISIL has rated the company AAA/Stable which shows the stability of the company
- Liberty General Insurance Company
Liberty is a relatively new company which has rapidly made its presence known in the general insurance segment. The company offers a wide range of general insurance plans, two wheeler insurance being one of them. The benefits offered by the company are as follows –
- The company has more than 2500 partner garages ensuring you have hassle-free cashless claim settlement
- The company’s claim settlement ratio is 95% which shows that most of the company’s claims are settled
- The company has several awards in its kitty like SAP Pinnacle Award 2015, Rising Star Insurer Award at the Indian Insurance Awards, etc.
- TATA AIG General Insurance Company Limited
TATA AIG is a joint venture between two reputed companies, TATA Group and the American International Group (AIG). The salient features about the company are as follows –
- As of September 2018, the company’s asset base stood at INR 8035 crores which shows that the company is stable
- The company settles maximum claims which are made on it
- TATA AIG has a wide network of cashless garages in India
- Reliance General Insurance Company
The last company on the list is Reliance General Insurance which is a part of India’s leading conglomerate Reliance Group. The company has the following benefits for its customers which make it a name to reckon with –
- The policy is issued and delivered within 10 seconds flat
- The company has ISO 9001:2015 certification adding to its reputation
- A free roadside assistance cover of INR 500 is allowed under the company’s motor insurance policies
These are the leading bike insurance providers in India in 2020. You can choose a policy of any of these companies and you would get comprehensive coverage, affordable premium rates and world class service from the company. Turtlemint is associated with all these leading insurance companies and offers their bike insurance policies. You can visit Turtlemint’s website at www.turtlemint.com and choose the most suitable bike insurance policy for your needs. The purchase process is simple and Turtlemint would also help you get the settlement of your claims.
Read more about How to get your claims settled simply?
So, what are you waiting for? Buy your bike insurance policy from a leading insurer and get the best insurance experience.