As soon as you buy a bike, you are advised to get it insured. Even if you get in small or big accidents, all the damages to it can be easily reversed with the help of the insurance. These days, insurance companies are highly reliable, and many of them also offer an online service, in case you cannot be physically present at the company’s office. Therefore, getting it all done is exceptionally easy. Even though there are many insurance companies in India today, we will look at the five best bike insurance companies. Let us begin –
1. HDFC ERGO Bike Insurance
One of the bike insurance companies that you can blindly trust is the HDFC ERGO insurance company. They have IAAA ratings from ICRA. What more can one want to trust an insurance company, right? As the name suggests, HDFC ERGO is a joint venture brought together by bringing two companies: HDFC and ERGO. Their incurred claimed ratio is almost equal to 82%.
2. Reliance Bike Insurance
In the insurance industry, Reliance is a very well reputed and popular name. Their insurances are purchased every day for two-wheelers, which include scooters and bikes. Other than these insurances, they are also known to offer health and travel insurance to many people across the country. for their amazing management, they have also been the recipient of many awards. You will never feel sorry for getting your bike insured by them.
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3. Oriental Bike Insurance
Another big bike insurance company name that we could not wait to discuss is surely The Oriental. This company was founded in 1947 and served many people in India with many types of covers. All the services that they offer are extremely high class. The Oriental has its regional offices, which are 31 in number. Additionally, they also have 1800+ operating offices in the country. their incurred claim ratio is very high and is rated at 112.62%.
4. Universal Sompo Bike Insurance
Universal Sompo is India’s first venture that was a joint public-private venture. This venture came in the year of 2007. Their incurred claim ratio is rated at 88%, which is quite high for a bike insurance company. Till now, they have tirelessly served thousands of customers with their services and continue to do it every year without fail.
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5. TATA AIG Bike Insurance
This motor insurance company is a joint venture made between TATA, AIG, and an American Conglomerate. You can buy many of their insurances wither by online or offline methods. Ever since the inauguration of this company, they have maintained many of the clients. You can get your bikes, and scooters get easily insured by them. The incurred ratio of the TATA AIG insurance company is 70%.
These were the five best bike insurance companies that offer their amazing services in India. Even though they serve many kinds of insurances today, our prime focus was on their bike and two-wheeler insurances. To know more about them, you can click on their respective official websites. There you will also get to know about the entire process that you will have to go through before buying insurance for your bike.