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Best Bike Insurance without Previous Insurance

Many insurance providers are available in the market to offer insurance policies for bikes. Every insurer tends to deliver a first-time bike policy to customers, who never had any insurance plans for their bikes. However, insurance providers also offer policies to people who have got their insurance policies expired and are without any active plan. It works like a boon for those who could not renew their policies on time. The insurance providers generally offer different types of bike insurance options such as third-party insurance plan, standalone own-damage insurance plan, and comprehensive insurance plan.

The third party insurance is mandatory to own, therefore, it is offered by every insurance provider. It is designed to offer compensation against the financial liabilities towards the third party for their bodily injuries, death or property damage incurred due to an accident or a mishap, due to the insured’s bike. On the other hand, an own-damage insurance plan provides coverage to lessen the damages or losses incurred by an insured’s bike, which may arise due to an unforeseen event involving the insured’s bike. Besides, comprehensive insurance is a policy, which combines both the other plans.

Even if a customer is without a previous insurance plan due to policy expiration or does not even own any documents of the previous insurance, he or she can still apply for a fresh insurance plan with different insurers. The customers can select any type of policy for their bikes based on their requirements and budget. Hence, it is imperative to always go through the offerings and premium amount of insurance policies to find the most suited plan for their bikes. However, apart from buying the right policy, choosing the right insurance provider is equally vital.

Top 5 Bike Insurance Companies Offering Bike Insurance without Previous Insurance 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%

(Source: IBAI’s General Insurance Claim Insights Handbook For Policyholders - 3rd Edition)

As per the own damage claim settlement ratio for FY 2018-19, these 5 insurance providers are the best to buy a Bike Insurance without Previous Insurance.

1. IFFCO Tokio Car Insurance

460 reviews
Know more about IFFCO Tokio Car Insurance
  • Highlights

    Enjoy seamless free service at 4300+ garages
    Check in your City
    Avail perks of zero dep without any limits
    1,00,000+ happy customers and counting
    Renew your car insurance policy in minutes
    95.30% Claim settlement ratio
  • IFFCO Tokio General Insurance Company

    IFFCO Tokio General Insurance has been servicing customers with a wide range of insurance policies, since its establishment. It also promises to get the claims of its policyholders settled seamlessly within minutes and tops the chart with 96.44% claim settlement ratio.
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  • IFFCO Tokio Car Insurance User Reviews

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2. Royal Sundaram Car Insurance

468 reviews
Know more about Royal Sundaram Car Insurance
  • Highlights

    3300+ Avail prompt services at authorized cashless garages
    Check in your City
    4 working hours Claim Survey is done
    92.66% Recorded claim settlement ratio
    Round the clock assistance and emergency services provided
  • Royal Sundaram General Insurance Company

    Royal Sundaram is one of the best insurance companies in India. They offer different types of insurance policies and several benefits to its customers. It provides insurance cover to every customer, whether they have any previous insurance policy documents or not.
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  • Royal Sundaram Car Insurance User Reviews

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3. Oriental Car Insurance

93 reviews
Know more about Oriental Car Insurance
  • Highlights

    Network of 31 regional offices and more than 1,800 active branches
    Check in your City
    A huge number of network garages, which offer direct cashless claim
    Total strength of 14,000+ employees and well established in the rural parts of the country.
    Overseas operations in countries like Nepal, Kuwait and Dubai
  • Oriental Insurance Company

    Oriental Insurance is a public sector general insurance company with 1800+ active branches across the nation. It provides bike insurance policies to people with or without any previous insurance plans. This insurer holds a variety of insurance covers to offer to its customers.
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  • Oriental Car Insurance User Reviews

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4. Universal Sompo Car Insurance

299 reviews
Know more about Universal Sompo Car Insurance
  • Highlights

    First private-public joint venture company in India
    Check in your City
    Ranked 5th in ICMR-BMF survey of top 15 non-life insurance companies
    24*7 responsive customer support
    Instant and paperless policy renewal
  • Universal Sompo General Insurance Company

    Universal Sompo is a leading name in the general insurance sector. The company offers world-class insurance services to its policyholders and that too at reasonable rates with its team of experienced and qualified professionals. Customers with or insurance of their two-wheelers are allowed to get the insurance with this insurer.
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5. National Car Insurance

96 reviews
Know more about National Car Insurance
  • Highlights

    National Insurance is the oldest company, incorporated before Independence
    Check in your City
    Enjoy 24*7 claim settlement assistance
    Renew car insurance policy in minutes
    Get rewarded with additional discounts
  • New India Assurance Company

    New India Assurance allows people to get insurance policies who do not own their previous insurance plan documents or have got their previous plan expired. The company is known as an incredible insurance service provider, which gets proven to quite an extent by its claim settlement ratio of 92.23%.
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    Great Experience

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    On: December 24, 2019