Top 5 Bike Insurance Companies In India 2021

Written by Udit Varshney

Updated On May 25, 20212 min read

When selecting an insurance policy for your two wheeler, you have to keep in mind not only the terms of the policy but also the insurance company. One useful criteria that you can compare them on is claim settlement ratio.

As a responsible bike owner, you must make sure to have your bike insured. The insurance policy you need should meet your needs and provide you with adequate coverage. In order to have peace of mind and reassurance, you should also keep in mind the track record of the bike insurance company. Listed here are some insurance companies which have excellent bike claim settlement ratios.

Top 5 Bike Insurance Companies In India 2021

The following are the best bike insurance companies in India on the basis of claim settlement ratio:

Insurance Company	Claim Settlement Ratio (FY 2018-19)
IFFCO Tokio Two Wheeler Insurance	96.44%
Royal Sundaram Two Wheeler Insurance	94.07%
Oriental Two Wheeler Insurance	93.16%
Universal Sompo Two Wheeler Insurance	92.45%
New India Assurance Two Wheeler Insurance	92.23%

1. IFFCO Tokio Two Wheeler Insurance

IFFCO Tokio Two Wheeler Insurance offers impressive coverage and has a convenient 24/7 customer service availability to ensure that you have peace of mind. You will never be left in the dark as the customer as you can always reach out to the insurance company for assistance.

2. Royal Sundaram General Insurance

Not only does Royal Sundaram have a high claim settlement ratio, it further guarantees a claim settlement process of no more than 10 days to ensure that your mind is always at ease. You will know that if you raise a claim it would be settled within an acceptable time frame and this will minimise your worries.

3. Oriental Two Wheeler Insurance

Oriental Two Wheeler Insurance offers a wide variety of coverage and has a high claim settlement ratio. For this reason, it is an excellent choice when it comes to insuring your two wheeler.

4. Universal Sompo Two Wheeler Insurance

Ranking highly on claim settlement ratio for own damage when it comes to two wheeler insurance, Universal Sompo Two Wheeler Insurance is a good choice to go for when deciding where to insure your two wheeler from. This is because due to the high claim settlement ratio, your claim will have a high chance of being successful.

5. New India Assurance Two Wheeler Insurance

In addition to their high claim settlement ratio, New India Assurance also offers unlimited liability cover in case of death or injury of a third party, making it a good choice for insuring your two wheeler.

Takeaway

Always research thoroughly when selecting which insurance company is right for you. Compare different policies online as well as the companies that provide them to find the policy that best meets your needs and preferences.

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

Written by Udit Varshney

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Udit has built B2C segments across various industries and has had significant contributions to the insurance sector. Udit in his last stint helped set out the last mile vertical, which soon became the go-to logistics name for daily needs, In his free time, Udit likes to write and listen to poetry.