Compare Two-Wheeler Insurance

The reasons why it is important to compare two-wheeler insurance online are listed below:

1. To explore multiple policies as there are a wide range of insurance policies available online. 

1. Helps planning budget by comparing premiums, thereby ensuring cost savings.

1. Saving both time and effort by viewing prices and benefits side by side.

1. Allow you to customise coverage options and add-ons according to your preferences.

1. Helps you to adjust coverage details to find the most suitable policy and make a well-informed financial choice.

1. Helps to understand the different types of bike insurance policies available.

Top Five Two-Wheeler Insurance

Let's first introduce five of the most popular two-wheeler insurance policies. The policies mentioned below have been chosen depending on their popularity on the internet and their estimated sales since their introduction.

These Five Policies include:

1. HDFC ERGO General Insurance 

1. Go Digit General Insurance 

1. ICICI Lombard General Insurance 

1. The New India Assurance 

1. SBI General Insurance

Key Aspects to Consider when Choosing the Insurer 

Some of the key aspects that must be considered when choosing the insurer are given below:

1. Policy approval time taken by each company
2. Third-party liability cover offered
3. Cashless facility available, if any
4. Network garages, if any
5. Assistance provided, both offline and online
6. No claim bonus offered
7. Coverage depending on age of the vehicle
8. Add-on covers, if any
9. Policy renewal process for an expired policy

Comparison of Top Five Two-Wheeler Insurance Policies

  These are all the facts you need to know about top motor insurance policies and their offering. With the information in front of us, we can conclude that almost insurance provider have their own strong points and weak points. However, the one policy that seems to stand slightly above the rest is the ICICI Lombard Two-Wheeler Insurance Policy, which seems to have a cast a much wider net when it comes to the network garages on offer. If you are exploring your option for a two-wheeler insurance policy, make sure to keep these facts in mind.

HDFC ERGO General Insurance

HDFC ERGO is known for its customer-centric approach and has a high claim settlement ratio. The company offers a wide range of add-on covers and has a substantial network of cashless garages, making it a convenient option for many riders. 

1. Premium: Starts from Rs.538 

1. Network Garages: More than 6,800 

1. Key Add-On Covers: No Claim Bonus Protection, Roadside Assistance, and and Zero Depreciation. 

1. No Claim Bonus: Up to 50% for 5 consecutive claim-free years

Go Digit General Insurance

Go Digit is a popular choice, especially among a younger, tech-savvy audience. They are known for their simplified insurance process, quick online claims, and a wide array of useful add-on covers. Their large network of cashless garages is also a significant advantage.

1. Premium: Starts from Rs.714
2. Network Garages: More than 9,000
3. Key Add-On Covers: Consumable Cover, Return to Invoice, and Zero Depreciation
4. No Claim Bonus: Up to 50% for 5 consecutive claim-free years

ICICI Lombard General Insurance

ICICI Lombard is one of the largest private sector general insurance companies in India. It offers a comprehensive range of add-on covers and has a vast network of cashless garages. Their policies are designed to provide all-around protection for your two-wheeler.

1. Premium: Starts from Rs.538
2. Network Garages: More than 5,600
3. Key Add-On Covers: Consumable Cover, Roadside Assistance, and Zero Depreciation
4. No Claim Bonus: Up to 50% for 5 consecutive claim-free years

The New India Assurance

As a government-owned entity, The New India Assurance has a long-standing reputation for reliability. The company has a significant presence across the country and offers a range of add-on covers to suit different needs.

1. Premium: Starts from Rs.782

1. Network Garages: More than 3,000

1. Key Add-On Covers: Accessory Cover and Personal Accident Cover for Pillion Rider

1. No Claim Bonus: Up to 50% for 5 consecutive claim-free years

SBI General Insurance 

SBI General Insurance boasts an extensive network of cashless garages, one of the largest in the country. They offer a variety of add-on covers, including 'Return to Invoice', which can be very useful in case of theft or total loss of the vehicle. 

1. Premium: Starts from Rs.868 
2. Network Garages: More than 16,000 
3. Key Add-On Covers: Roadside Assistance and Return to Invoice 
4. No Claim Bonus: Up to 50% for 5 consecutive claim-free years

What are the Factors that Affect Two-Wheeler Insurance Premiums?

The insurance premium for your two-wheeler depends on several factors, including:

1. Age and make of the two-wheeler influence the premium as due to higher repair and replacement costs, newer or high-end bikes attract higher premiums.

1. Insurance companies classify cities into risk-based zones, and that also significantly influences premium rates. The premium may be higher for vehicles registered in a high-risk zone, such as areas with higher chances of theft or accidents.

1. Personal factors also impact premium rates, such as age, riding experience, occupation, and marital status can impact the premium.

1. Insurers may charge a higher premium if you have made claims in the past, as frequent claims indicate a higher risk of future claims.

1. Maintaining a claim-free record helps you earn a No Claim Bonus, which acts as a discount on the premium during policy renewal.

Add-on Covers Available with Two-Wheeler Insurance

In addition to the basic policy, insurers offer several add-on covers to enhance protection and those are mentioned below:

1. Zero Depreciation Cover: Allows you to receive a higher claim amount as it reduces or eliminates depreciation deductions during claim settlement.

1. Engine Protection Cover: Especially useful in flood-prone areas, and it covers damage to the engine and its internal components caused by issues such as water ingression, hydrostatic lock, or oil leakage.

1. Roadside Assistance Cover: Helps during emergencies like breakdowns, flat tyres, fuel shortages, or accidents.

1. Return to Invoice (RTI) Cover: This add-on ensures reimbursement of the bike’s invoice value, including road tax and registration charges in case of total loss or theft. It is typically available for bikes up to three to five years old.