In India, if you want to ride a motorcycle then you need to have insurance for your two wheeler according to the Motor Vehicles Act of 1988. You need to carry this insurance wherever you travel within India. Besides that, having insurance on your bike will give you a piece of mind in case you ever get into an accident and damage it.
There are hundreds of third-party companies that provide two wheeler insurance however, not all of them are up to the mark. If you are looking for some good options to choose from then in this blog post we have mentioned 5 best bike insurance companies in 2023 lyricsbaazaar.com. We also have listed a brief comparison to help you make an educated decision.
5 Best Bike Insurance According to lyricsbaazaar.com
- Bajaj Allianz General Insurance
- New India Assurance Company
- United India Insurance Company
- ICICI Lombard General Insurance
- HDFC ERGO General Insurance
Bajaj Allianz General Insurance
As we have already mentioned that there are hundreds of insurance companies available to choose from in India. Among all of them, you will find that “Bajaj Allianz General Insurance” is the most talked about. This is because they have more of a “you” approach where their whole focus is on making you or customer experience the best.
The insurance offered by them on two wheelers covers both your own damage and third party liability. Other than that, you can also opt for their option add-ons for a better protection policy. Now, you can digitally avail your insurance policy and manage using their website and mobile application.
- You can get complete damage protection with option add-ons.
- An easy and quick way through which you can settle your claim.
- Get better management with online website and app.
- Some authorized garages provide cashless claim settlement.
New India Assurance Company
“New India Assurance Company” might be not as old as Bajaj Allianz but they have spent more than a decade in the insurance industry. You can see them as a very trustworthy alternative to other new third party insurance companies.
Their motorcycle insurance policy has coverage for personal accidents, third party liabilities, and own damage. What makes them amazing is their presence in the whole country along with many remote locations. This makes it convenient for you to use their service even if you are not in your local state.
- You get robust and wide coverage options.
- They have a lot of well built network of offices and intermediaries.
- You also get a separate customer support.
- They have competitive premium rates in comparison to other big names.
United India Insurance Company
“United India Insurance Company” is a very well-known insurance company that is actually owned by the government of India and is among the 5 best bike insurance companies in 2023 lyricsbaazaar.com. They have been in service for many years and give extensive coverage on your bike insurance that includes both your own damage and third-party liabilities. The main reason why they are considered as the best in the market by many is because of their dedication to providing the best possible customer satisfaction and claim settlements.
- They offer a wide range of options for coverage policies.
- You get government-based reliability.
- They also provide Affordable premium rates.
- Strong focus on customer service.
ICICI Lombard General Insurance
One of the leading insurance companies in terms of two wheelers is no doubt “ICICI Lombard General Insurance” due to their comprehensive insurance policy. When you research about them, you will find fewer to no negative reviews which tells a lot. Just like other company policies, they also have protection against third-party liabilities, own damage, and personal accident cover.
One of the reasons for their success is their large network of garages that covers most of the cities in India. Additionally, you can opt for their cashless claim settlements, making sure you do not face any issues during the whole procedure.
- You can get easy and quick online policy issuance.
- They offer 24×7 customer support for all of their policies.
- Also, they have an extensive range of cashless garages.
- Additionally, you get coverage options like roadside assistance.
HDFC ERGO General Insurance
Last but not least is “HDFC ERGO General Insurance” which is in our 5 best bike insurance companies in 2023 lyricsbaazaar.com. They as an insurance provider have gained success due to their reliable and wide range of insurance products, including bike insurance. This makes sure that you get complete protection for your two-wheeler. Their whole goal is to be at your convenience with its user-friendly online platforms.
- They provide a transparent and straightforward process for your claim settlement.
- You have the option to choose enhanced coverage with add-ons like zero depreciation.
- Online renewal and policy issuance.
- Also, you get a high claim settlement ratio.
Comparison Between All The Top 5 Best Bike Insurance Companies
In terms of coverage, all of the companies mentioned in the list give you coverage against your own damage and third-party liabilities. However, with Bajaj Allianz and HDFC ERGO, you get a whole lot of add-ons for enhanced coverage. And United India Insurance Company offers you with a range of options that you can fit according to your budget.
When we talk about claim settlement, you will find that HDFC ERGO and ICICI Lombard are the only companies known for their transparent and quick processes of claim settlement. Nevertheless, Bajaj Allianz offers you a hassle-free claim settlement experience. Lastly, with New India Assurance Company and United India Insurance Company, you get a strong track record of claim settlements.
Customer support is a very important point that many of the insurance companies fail to provide. But with ICICI Lombard and HDFC ERGO, you get 24×7 customer support for all your problems. Then comes, Bajaj Allianz and United India Insurance Company with which they provide dedicated customer service for their user base. Other than that, New India Assurance Company provides you support through its wide range of network of offices.
Having a two wheeler insurance is not only important for riding your motorcycle but also for your expensive repair in case you get into an accident. There are hundreds of compelling options to choose from but not all of them are up to the mark. We have shortlisted the 5 best bike insurance companies in 2023 lyricsbaazaar.com to help you make a better decision.