Best Two Wheeler Insurance Company India 2017 | Top 3 |

Checkout the Top Rated and Best Bike Insurance Companies in India for 2017. In order to chose the best Two Wheeler (bike) Insurance company, there are number of factors involved such as Claim Settlement Ratio, Average time taken to settle a claim, Price and period of the Insurance policy etc. Considering all these factors, we have chosen the list of Top 5 Two Wheeler Insurance companies in India for 2017.

When it comes to travelling quickly & economically around the city, a 2 wheeler vehicle is the best option for almost everyone. But, along with convenience, comes higher risks. No matter how safely you ride your bike, purchasing a two-wheeler insurance is not only mandatory by law, but also a peace of mind.

HDFC Ergo : #Rank 1 for Best Two Wheeler Insurance Company India 2017

HDFC Ergo Rank 1 for Best Two Wheeler Insurance Company India 2017

HDFC ERGO Long Term Two Wheeler Insurance now comes with 1, 2 or 3 years policy options. HDFC ERGO offers two types of Bike Insurance.

HDFC ERGO Long Term Two Wheeler Insurance

With Long Term two wheeler insurance, you get both benefit and protection of No Claim Bonus (NCB) discount in two and three years policies.

This means, you enjoy NCB benefit for full three years tenure irrespective of your claim status during your policy period. After completion of two or three years policy tenure, you will be awarded next higher NCB slab basis each claim free year spent.

HDFC ERGO Long Term two wheeler insurance provides comprehensive coverage against potential risk of theft, accidental damage, third party liability and other perils. With one year policy tenure, you also get the options to buy add-ons emergency road side assistance and zero depreciation.

HDFC ERGO Comprehensive Long Term Two Wheeler Insurance

This Bike Insurance policy covers legal liabilities arising out of injury or death of a third party and even personal accident cover for the owner or driver. Some of other features are:

  • Comprehensive cover with two and three years insurance policy options
  • Protection against annual increase in Third Party insurance premium
  • Paperless Issuance process of 2 wheeler insurance policy online
  • Cashless claim service at authorized network garages

ICICI Lombard : #Rank 2 for Best Two Wheeler Insurance Company India 2017

ICICI Lombard Rank 2 for Best Two Wheeler Insurance Company India 2017

In ICICI Lombard Two Wheeler Insurance, Your No Claim Bonus (NCB) will be applicable for 1 or more claims as per the policy period.

This Insurance policy also offers inbuilt personal accident cover and keep your loved ones secure too with add-on co-passenger cover. ICICI Lombard Two Wheeler Insurance covers the following:

Loss or damage to your vehicle against natural calamities

Fire, explosion, self-ignition or lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide, rockslide.

Loss or damage to your vehicle against man-made calamities

Burglary, theft, riot, strike, malicious act, accident by external means, terrorist activity, any damage in transit by road, rail, inland waterway, lift, elevator or air.

Third Party Legal Liability

Protection against legal liability due to accidental damages resulting in the permanent injury or death of a person, and damage caused to the surrounding property.

CICI Lombard Two Wheeler Insurance has Personal Accident Cover

Coverage of Rs.2 lakhs for the individual driver of the vehicle while travelling, mounting or dismounting from the car. Optional personal accident covers for co-passengers are also available.

ICICI Lombard Two Wheeler Insurance policy does not cover Normal wear and tear and general ageing of the vehicle, Depreciation or any consequential loss, Mechanical/electrical breakdown, Loss/damage due to war, mutiny or nuclear risk.

How is ICICI Lombard Two Wheeler Insurance Calculated

Each two wheeler is insured at a fixed value which is termed as the Insured’s Declared Value (IDV). This sum insured is calculated on the basis of a number of factors. Here’s how it works:-

IDV is calculated on the basis of the manufacturer’s listed selling price of the vehicle (plus the listed price of any accessories) after deducting the depreciation for every year as per the schedule provided by the Indian Motor Tariff.

If the price of any electrical and / or electronic item installed in the vehicle is not included in the manufacturer’s listed selling price, then the actual value (after depreciation) of this item can be added to the sum insured over and above the IDV.

Bajaj Allianz : #Rank 2 for Best Two Wheeler Insurance Company India 2017

Bajaj Allianz Rank 2 for Best Two Wheeler Insurance Company India 2017

With Bajaj Allianz Two Wheeler Insurance, you can transfer up to 50% of your existing No Claim Bonus from any bike insurance provider.

Bajaj Allianz Two Wheeler Insurance Plans available

Features 1 Year Package Policy
Renewal frequency Once in three years
Coverage period Three years
Premium hikes No effect in the TP premium during policy period
NCB benefit Additional benefit at the time of renewal
NCB benefit after a claim NCB gets reduced but does not become nil
Mid-term cancellation refund Proportional refund provision even after claim during policy period

 

Features 3 Year Package Policy
Renewal frequency Once in three years
Coverage period Three years
Premium hikes Every year TP premium increases
NCB benefit As per tariff
NCB benefit after a claim NCB become 0 after one claim
Mid-term cancellation refund No refund in case of any claim

Documentation to claim Two Wheeler Insurance

Documents Required for Accident Claims

  • Claim Form duly signed*
  • RC copy of the vehicle
  • Driving License copy
  • Policy copy (First two pages)
  • FIR on a case-to-case basis
  • Original Estimate
  • Original Repair Invoice and Payment Receipt (for cashless garage, only repair invoice)

Documents Required for Theft Claims

  • Claim Form duly signed
  • RC copy of the vehicle with all original keys
  • Driving License copy
  • Policy copy
  • Original FIR copy
  • Original Estimate
  • RTO transfer papers duly signed along with Form 28, 29, 30 and Form 35 (if hypothecated). Form 28 is needed in triplicate, Form 29 and 30 are needed in duplicate.
  • Final report – A No Trace report from the police saying that the vehicle cannot be located

Documents Required for Third Party Claims

  • Claim Form duly signed*
  • Police FIR copy
  • Driving License copy
  • Policy copy (First two pages)
  • RC copy of the vehicle

Conclusion

This list on Best Two Wheeler Insurance Company India 2017 has been provided only from our internal study and there are no undisclosed commercial interests involved while providing this list.