Best Insurance for Bike in India | Insurance for Bike Third Party | Bajaj Allianz Insurance for Bike | Insurance for Bike Price | Cost of Insurance for Bike

Bike insurance helps you meet the financial obligations which may arise due to an accident or any other mishap involving your bike such fire, theft, earthquake, landslide, etc. best insurance for bike in india The Indian Motor Tariff makes it mandatory for every Two Wheeler owner to have at least a third party bike insurance cover for being able to ride their Two Wheeler legally in the country. Currently, there are 25 General Insurance Companies in India which offer bike insurance plans.

How To Choose The Right Two Wheeler Insurance Company In India?

There is no one bike insurance company which is the best for all individuals as the requirement of each individual is different. For some individuals, a bike insurance company which has a wider network of cashless garages is the best, while for others the Two Wheeler insurer which features the highest claim settlement ratio is the best. Thus, there are a number of parameters on the basis of which bike insurance company becomes the best for an individual. Followings are the factors which you must consider when choosing a bike insurance company:

best insurance for bike in india | insurance for bike third party
best insurance for bike in india | insurance for bike third party

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Claim Settlement Ratio

The claim settlement ratio is the percentage of claims settled by a Two Wheeler insurance company out of the total number of claims received by it in a financial year. The higher the claim settlement ratio, the better it is. Thus, you should choose a bike insurance company with a good claim settlement ratio.

Network of Cashless Garages

Every Two Wheeler insurance company maintains a network of garages at which it allows cashless claim facilities. While choosing a bike insurance company, it is important to check which all garages (especially the ones in your locality) are a part of the insurer’s network.

Availability of Add-on Covers

Two-wheeler Insurance add-on covers are the extra covers which can be opted with own-damage and comprehensive Two Wheeler insurance plans to extend the coverage of a standard bike insurance plan. These add-ons are available against the payment of a nominal premium. You must check if the insurance company chosen by you offers the add-on covers which you want to add to your standard Two Wheeler insurance plan.

Customer Support Service

Another important factor to consider while choosing a Two Wheeler insurance company is the availability and quality of the customer support services offered by it. You should choose a company which offers 24*7 customer support. This helps in the easy resolution of your queries and provides you with timely assistance when required.

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Why is Bike Insurance Necessary?​

best insurance for bike in india | insurance for bike third party

A two wheeler offers a lot of benefits and convenience to the buyer as they save time and resource. Getting a two wheeler also comes with a set of its own risk and thus getting a third party liability insurance cover is also mandated by the law. Few reasons why two wheeler insurance is necessary are: ​

Financial Coverage

The condition of the roads in India is not very good and also with that there has been an increase in rash driving cases. An accident can cause a lot of damage to the vehicle and loss of life as well. Loss of money is almost sure in these cases and thus the insurance firm pays for the repair of the vehicle and also covers the medical aid to the injured person. Thus, you can have peace of mind as any any damage to the vehicle will not cost you and not cause any financial trouble if you have a bike insurance.

​Mandated by Law

Riding without a valid two wheeler insurance policy is punishable by law. The first thing which makes it necessary to get bike insurance policy apart from all the other things is that the cover is mandated by the law. Thus, under the Motor Vehicles Act, one must mandatorily at least have a third party two wheeler insurance​

Natural Calamity Cover

A bike insurance policy also has the coverage for damage done through any kind of natural calamity like earthquake and floods. Thus, an insured person can claim under these unforeseen circumstances as well.

Personal Accident Cover

You get a personal accident cover along with two wheeler insurance which helps you stay protected arising from any accidents

Third Party Cover

A third party two wheeler cover protects the person from any kind of legal obligation that may arise due to the accident towards third party. It Covers damage to the third party property or Deat​​h or bodily injury to a third party by the insured vehicle. hird-party cover is mandated by the law which means the bike insurance policy of the insured person will cover for any damage done to another vehicle and the person (Third-Party).
Learn more about what happens when you don’t buy a bike insurance.

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