List of Bike Insurance Companies

What is Bike Insurance?

Bike insurance is a financial safety net that protects your two-wheeler against losses or damages arising from various unforeseen circumstances, such as accidents, theft, natural disasters, fire, and third-party liabilities. There are mainly three types of bike insurance policies:

• Third-Party Bike Insurance: It only covers third-party liabilities done by the insured bike in a road accident. (mandatory by law).
• Own Damage Bike Insurance: It covers damages to your own bike (only available if you have third-party coverage).
• Comprehensive Bike Insurance: It covers both third-party liabilities and own damage, including damages or losses arising due to theft, accident, natural calamities, etc.

17+ Bike Insurance Companies in India

Here’s a list of the most trusted two-wheeler insurers in India. This table explains their cashless garage network and respective claim settlement ratios (CSR):

*Disclaimer: The Claim Settlement Ratio (CSR*) mentioned above is as per the figures mentioned in the IRDAI motor insurance annual report 2021-22 and are arranged in alphabetical order. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in

What is the Bike Insurance Claim Settlement Ratio?

In the insurance industry, a bike insurer's claim settlement ratio refers to a percentage showing the number of claims settled by the company during a period. It is a numerical representation reflecting the company's ability to pay claims and financially aid policyholders.

A high CSR (above 90%) indicates that the company is reliable, quick in processing claims, and supportive during emergencies.

Here is the formula to calculate the CSR of a particular bike insurance company:

CSR = (Number of Claims Settled/Total Claims Received) × 100

How Do You Select the Most Suitable Bike Insurance Company in India?

With several bike insurance providers available in the Indian insurance industry, finding the right two-wheeler insurance plan is quite challenging. This is because the needs of every individual are different. For some people, a two-wheeler insurance company with a vast network of cashless workshops is suitable, while for others, insurers with the highest claim settlement ratio is the best.

In this way, a 2-wheeler insurance company can become the most suitable for you by many parameters. Therefore, below is a list of pointers that you must consider while buying a two-wheeler insurance policy:

1. Network of Cashless Garage

   Every bike insurance company has a tie-up with some of the two-wheeler workshops or garages. These garages are known as network garages or authorized network garages of the insurer. At these garages, you can avail the facility of cashless claims. Therefore, when selecting a two-wheeler insurance policy, you should also check its list of network garages. The one that covers many garages, some in your nearby premises, should be considered.

2. Claim Settlement Ratio

   CSR or Claim Settlement Ratio refers to the percentage of the claims that a bike insurance company settles out of the actual number of claims received in one financial year. The higher the CSR, the better the company's health. Therefore, you must select a two-wheeler insurance company with a good claim settlement ratio.

3. Availability of Add-ons

   The add-on covers are the extra covers you can buy with own damage or comprehensive bike insurance policy to extend the basic coverage by paying some additional premium. However, this extra premium is very nominal. Therefore, before selecting a bike insurance company, you must also check whether it offers bike insurance add-on covers that you may need.

4. 24*7 Customer Assistance

   Another significant factor to consider before selecting a two-wheeler insurance policy is the company's customer care service. The quality and availability of customer care services should be checked before finalizing a two-wheeler insurance company. You must select a company that provides 24*7 customer care service and gives you timely assistance for resolving your queries and problems related to an insurance policy.

   As we take care of our other assets, we should also take care of our most prized possessions, i.e., bikes, by getting a suitable two-wheeler insurance policy. With the help of this page, you can make the appropriate decision to select the right bike insurance plan for your bike.

Can You Switch Your Bike Insurance Companies?

Yes, you can switch insurers during policy renewal without losing your No Claim Bonus (NCB). Most online platforms allow easy portability with just a few clicks.

Latest Two-Wheeler Insurance Rules in India 2025

• All two-wheelers must have at least third-party bike insurance.
• Failing to hold valid two-wheeler insurance can result in a ₹2,000 fine or imprisonment up to 3 months.
• New bikes must be insured with a 5-year third-party plan at the time of purchase.
• Driving without bike insurance violates the Motor Vehicles Act, 1988.