Bike Insurance with Registration Number
The registration number of a bike offers the legal identity or authorisation to it in India. It is issued by the district-level Regional Transport Office (RTO) of every state. If you are a bike owner, then to get this number, you are required to get your bike registered at the respective RTO of your district within a month of buying it. After the completion of the registration process, a unique number is granted for your bike. It is compulsory to affix a metal number plate at both the front and back of your bike, displaying the registration number.
The bike registration number features an authorized structure. For instance, a bike in Uttar Pradesh may have a number UP 0X CB XXXX. Here the first two alphabets denote the state code, while the next two digits are the district sequence number. The two alphabets in the third segment of the number signify the ongoing series of the RTO and/or the vehicle classification and the last four digits stands for the unique number of the bike. This elaborate number system makes it easier to identify, search and track your bike. Also, it helps to keep up specific records of your bike or any other vehicle with reference to its ownership, RTO details, and insurance details.
While purchasing bike insurance, it is essential to fill in the registration number. Once you purchase the insurance, the details of your insurance plan are linked to your bike’s registration number, which can easily be accessed and checked by the RTO, state or central government. Due to this linking, you can track your insurance policy details using the registration number and even renew your bike insurance policy with it. Hence, when you purchase a bike insurance policy, its information is duly stored with the registration number. Hence, it is crucial to have the registration number to buy a bike insurance policy from any insurance provider.
Top 7 Bike Insurance Companies Offering Bike Insurance with Registration Number As Per Own Damage Claim Settlement Ratio
Insurance Company |
Claim settlement ratio for FY 2018-19 |
IFFCO Tokio |
96.44% |
Royal Sundaram |
94.07% |
Oriental Insurance |
93.16% |
Universal Sompo |
92.45% |
New India |
92.23% |
Tata AIG |
91.80% |
SBI General |
91.74% |
(Source: IBAI’s General Insurance Claim Insights Handbook For Policyholders - 3rd Edition)
With reference to the own-damage claim settlement ratio for FY 2018-19, these are the top 7 insurers offering a Bike Insurance with Registration Number.
1. IFFCO Tokio Bike Insurance
Highlights
Cosmic network garages 4300+ garagesCheck in your CityPAN India help desk with 24x7 serviceUnlimited Zero depreciation claim90.69% Claim Settlement RatioFFCO Tokio General Insurance
IFFCO Tokio General Insurance offers a hassle-free insurance issuance procedure. It requires details like registration number of the bike, driving licence, and so on for the issuance of a bike insurance plan. IFFCO Tokio which featured the highest claim settlement ratio of 96.44% in FY19Read MoreIffco Tokio Bike Insurance User Reviews
2. Royal Sundaram Bike Insurance
Highlights
Pioneer of bancassurance in IndiaCheck in your City92.66% Claim Settlement Ratio as per the FY2024*7 Emergency AssistanceCoverage of up to 15 lakhs in accidental casesMore than 3300 network garagesRoyal Sundaram General Insurance Company
Royal Sundaram offers bike insurance policies to its customers with registration numbers via both online and offline modes. The insurer, which featured a staggering claim settlement ratio of 94.07% in FY19.Read MoreRoyal Sundaram Bike Insurance User Reviews
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3. Oriental Bike Insurance
Highlights
24*7 Customer AssistanceCheck in your CityClaim Settlement Ratio 91.34% as on FY 2018Overseas branchesQuick claim settlementAttractive policy plansThe Oriental Insurance Company
Oriental Insurance is one of the best insurers in the market that allow people to purchase a new bike insurance policy simply by registering themselves on its online portal and making an online payment. The insurer which featured a claim settlement ratio of 93.16% in FY19.Read MoreOriental Bike Insurance User Reviews
4. Universal Sompo Bike Insurance
Highlights
First private-public joint venture company in IndiaCheck in your City90.36% Claim Settlement Ratio in FY1886 branches and 17 Zonal offices across India24*7 telephonic Customer supportNetwork of more than 3,500 garagesUniversal Sompo General Insurance Company
Universal Sompo has emerged as a market leader in their selected domain by winning the trust of the customer. It requires the registration number of your bike to get you an insurance policy as per the regulations of Indian Motor Tariff. The insurer which achieved a claim settlement ratio of 92.45% in FY19.Read MoreUniversal Sompo Bike Insurance User Reviews
5. New India Bike Insurance
Highlights
Only Indian General Insurance Company operating in 28 countriesCheck in your CityClaim settlement ratio 93.96% as on FY 1824*7 Customer assistanceMore than 588 branches nationwideNew India Assurance Company
The New India Assurance is a leading name in the insurance industry. While buying a bike insurance plan online with this insurer, you need to enter your bike's registration number. New India featured a claim settlement ratio of 92.23% in FY19.Read MoreNew India Bike Insurance User Reviews
6. Tata AIG Bike Insurance
Highlights
Impressive claim settlement ratio 90.49% in FY20Check in your CityMore than 5,000+ Cashless garages24/7 Emergency AssistancePremium Cover For Personal InjuriesTata AIG General Insurance Company
Tata AIG allows its customers to purchase the bike insurance only with the valid registration number. The insurer featured a claim settlement ratio of 91.80% in FY19. Its commitment towards its customers has helped it acquire a place in the list of top 7 insurers for bike insurance.Read MoreTata Aig Bike Insurance User Reviews
7. SBI Bike Insurance
Highlights
Claim Settlement Ratio 89.51% in FY20Check in your CityOffers 16000+ cashless network garage services across India.A network of more than 16,000 cashless garageApprox 22,000 branches nationwideiAAA rating for highest claim settlementPresence in more than 110 Indian citiesSBI General Insurance Company
SBI General Insurance featured a claim settlement ratio of 91.74% in FY 2018-2019. The insurer offers insurance plans for bikes with a valid registration number and never without it. SBI General Insurance is known for its reliable image among its policyholders and for always maintaining order and compliance.Read MoreSbi Bike Insurance User Reviews