Which Are The 5 Best Bike Insurance Companies In India?
This article lists the top 5 bike insurance companies in India. It begins by mentioning the necessity of a bike insurance company and the presence of innumerable options to choose from. It then provides the details of the top 5 bike insurance companies in a point format.
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In India, having a bike insurance is mandatory as per The Indian Motor Vehicles Act, 1988. Earlier, there were only a few insurance companies that offered bike insurance. But nowadays, the insurance sector has immensely proliferated and the market is ready to accept the demands. There are various insurance companies that offer a comprehensive bike insurance policy and in this article we are going to tell you about the top 5 bike insurance companies in India.
5 Best Bike Insurance Companies In India
The following are a list of the top 5 bike insurance companies in India.
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Bajaj Allianz General Insurance Company
The Bajaj Allianz General Insurance Company is one of the most reputed general insurance companies of our country. It functions in over 200 towns and cities and offers a plethora of services and benefits under it different insurance products to suit the needs of their customers. It has an easi online purchase offer and a claim settlement ratio of 62%. With more than 4000 networked garages all over India, this company promises to deliver your claims and rewards without any hassle.
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Bharti AXA General Insurance Company
The Bharti AXA General Insurance Company is a comparatively new entrant to the insurance market but has competitively risen in ranks. As of now it is a global leader in financial protection and offers brilliant services under its Two Wheeler Insurance counterpart. Its attractive features include an additional coverage in the form of add ons such as a personal accident cover and zero depreciation cover. A policyholder can also make payments via net banking, debit or credit cards and even online payment gateways. The company has a claim settlement ratio of 75% and has 5200 functional network garages all over India.
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Cholamandalam MS General Insurance Company
This is a joint insurance company between Mitsui Sumitomo Insurance Company Limited and Murugappa Group that has successfully established itself as a leading bike insurance company. Cholamandalam MS offers a financial support of INR 15 Lakh to the policyholder’s family in case of their death due to an accident and an indemnity for third party property as well. It has a CSR of 84% and more than 7100 networked garages with cashless repair facilities all over India.
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Future Generali India Insurance Company
This insurance company is a well sought after bike insurance company in India. As a general insurance company that also covers motor insurance, Future Generali insurance ensures a claim settlement duration of 7 days and an automate renewal reminder service. With a CSR of 69% and 3500 networked garages across India, this two wheeler insurance company promises to deliver and meet the financial requirement of their customers.
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HDFC ERGO General Insurance Company
This insurance company is a joint venture between HDFC Limited and ERGO International AG and is a major player in the insurance market. HDFC ERGO insurance offers a wide range of services under bike insurance and comes with an attractive discount of 70% on its insurance premiums. A policyholder can make unlimited number of claims without incurring extra costs. The company’s CSR of 82% points to its success and network garages numbering over 6800 ensures cashless repairs across the country.
Also Read:- Bike Insurance Policy - When & How Should You Change It?
Take Away
These are in a nutshell the 5 best bike insurance companies in India. This list is however suggestive and the policy that you choose will ultimately be contingent upon your financial requirements and needs. While it is important to be aware about the best insurance providers in the market, you must remember to secure your bike with an insurance policy to ensure a strong financial support in case of an accident.
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.
