Why Do You Need Bike Insurance?
Owning a bike gives you the freedom to travel, but are you financially protected in case of accidents, theft, or damage? That’s where bike insurance comes into play. It offers financial security, legal compliance, and peace of mind, ensuring you don’t end up with unexpected repair costs or liabilities.
In India, road accidents are common, with over 4 lakh accidents occurring annually. A simple repair can cost ₹5,000 – ₹50,000, while severe damages or third-party liabilities can reach lakhs of rupees. Having the right bike insurance policy ensures you are covered against such expenses.
Below, we provide a list of the top 10 best bike insurance companies in India and the 7 essential factors you must consider before choosing a bike insurance plan.
Top 10 Bike Insurance Companies in India – Comparison Table
| Insurance Company | Claim Settlement Ratio (%) | Premium Affordability (₹ per annum) | Network Garages | No-Claim Bonus (NCB %) | Claim Approval Time (hrs) | Final Rating |
|---|---|---|---|---|---|---|
| Acko Bike Insurance | 97.5% | ₹1,200 – ₹3,500 | 6,000+ | Up to 50% | 2-4 hrs | 4.5/5 |
| Bajaj Allianz Bike Insurance | 96.0% | ₹1,500 – ₹4,500 | 7,500+ | Up to 45% | 3-5 hrs | 4.6/5 |
| HDFC ERGO Two-Wheeler Insurance | 97.2% | ₹1,800 – ₹5,000 | 5,500+ | Up to 50% | 3-6 hrs | 4.7/5 |
| ICICI Lombard Bike Insurance | 95.8% | ₹1,700 – ₹4,800 | 6,800+ | Up to 50% | 3-6 hrs | 4.4/5 |
| Tata AIG Bike Insurance | 94.5% | ₹1,600 – ₹4,300 | 6,500+ | Up to 50% | 3-5 hrs | 4.3/5 |
| Reliance Two-Wheeler Insurance | 93.5% | ₹1,300 – ₹3,800 | 5,000+ | Up to 40% | 4-6 hrs | 4.2/5 |
| SBI General Bike Insurance | 92.8% | ₹1,400 – ₹4,200 | 4,800+ | Up to 35% | 5-7 hrs | 4.0/5 |
| Niva Bupa Two-Wheeler Insurance | 91.5% | ₹1,700 – ₹4,500 | 4,500+ | Up to 30% | 5-8 hrs | 3.9/5 |
| Future Generali Bike Insurance | 93.2% | ₹1,600 – ₹4,000 | 5,200+ | Up to 50% | 3-6 hrs | 4.1/5 |
| Kotak Mahindra Bike Insurance | 92.0% | ₹1,500 – ₹4,100 | 4,600+ | Up to 50% | 4-7 hrs | 4.0/5 |
7 Essential Factors Before Buying Bike Insurance
1. What is Claim Settlement Ratio?
A higher Claim Settlement Ratio (CSR) indicates better reliability in claim approvals. The top 3 insurers with the best CSR are:
✅ Acko Bike Insurance – 97.5%
✅ HDFC ERGO Two-Wheeler Insurance – 97.2%
✅ Bajaj Allianz Bike Insurance – 96.0%
2. What is Premium Affordability?
While low premiums are attractive, they should provide sufficient coverage. The most affordable insurers are:
✅ Acko Bike Insurance – ₹1,200 – ₹3,500
✅ Reliance Two-Wheeler Insurance – ₹1,300 – ₹3,800
✅ Bajaj Allianz Bike Insurance – ₹1,500 – ₹4,500
3. What are Network Garages?
A larger network of garages ensures cashless repairs. The top 3 insurers with the most garages are:
✅ Bajaj Allianz Bike Insurance – 7,500+ garages
✅ ICICI Lombard Bike Insurance – 6,800+ garages
✅ Tata AIG Bike Insurance – 6,500+ garages
4. What is No-Claim Bonus (NCB %)?
NCB rewards policyholders for not making claims. The top insurers offering high NCB are:
✅ Acko Bike Insurance – Up to 50%
✅ HDFC ERGO Two-Wheeler Insurance – Up to 50%
✅ Future Generali Bike Insurance – Up to 50%
5. What is Claim Approval Time?
Faster claim approval means quick settlements. The fastest insurers are:
✅ Acko Bike Insurance – 2-4 hours
✅ Bajaj Allianz Bike Insurance – 3-5 hours
✅ HDFC ERGO Two-Wheeler Insurance – 3-6 hours
6. What is Policy Add-On Coverage?
Add-ons enhance your coverage, such as:
- Zero Depreciation Cover – Ensures full claim settlement.
- Roadside Assistance – Helps in case of a breakdown.
- Engine Protection Cover – Covers damage due to water ingress.
The best insurers for add-ons: ✅ ICICI Lombard Bike Insurance
✅ HDFC ERGO Two-Wheeler Insurance
✅ Tata AIG Bike Insurance
7. What is the Final Rating of Bike Insurance?
Based on claim settlement, affordability, network garages, and customer service, the top-rated bike insurers are:
⭐ HDFC ERGO Two-Wheeler Insurance – 4.7/5
⭐ Bajaj Allianz Bike Insurance – 4.6/5
⭐ Acko Bike Insurance – 4.5/5
Final Recommendation – Best Bike Insurance in India
🔹 Acko Bike Insurance – Best for Low Premiums (₹1,200 – ₹3,500) & Fastest Claim Approval (2-4 hrs)
🔹 HDFC ERGO Two-Wheeler Insurance – Top for High Claim Settlement Ratio (97.2%) & Best Add-On Coverage
🔹 Bajaj Allianz Bike Insurance – Best for Extensive Network Garages (7,500+) & Affordable Premiums (₹1,500 – ₹4,500)
✅ Pro Tip: Always compare policies based on your bike’s age, usage, and personal requirements before making a decision!
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