Several bike insurance providers are on the market, but one that is right for your neighbour might not suit you. The Motor Vehicle Act of 1988 states that third-party bike insurance is mandatory. However, insurance companies provide more extensive coverage through detailed plans and add-ons.*
The most suitable bike insurance company will be the one that satisfies your requirements and standards. A quick way to select different insurance plans is to check bike insurance online. You can quickly register for it with relatively little required paperwork. *
There are several
considerations to keep in mind because each requirement is unique. Some of them
are:
Bajaj
Allianz Two Wheeler Insurance
By allowing you to add features like Engine Protection, Zero Depreciation, and Consumable Expenses, Bajaj Allianz gives you many customisation options for your bike insurance. Additionally, you gain the convenience of a pan-Indian network for claims processing and the security of working with a recognised insurance company. *
Benefits of Bajaj Allianz Two Wheeler Insurance are:
●
Settlement using the Motor
On the Spot facility takes 20 minutes.
●
Contactless renewal and
application processes combined with renewal without inspection.
●
24-hour roadside assistance
for situations including mechanical and electrical failure
●
There are numerous options
for add-ons, including NCB Protect and Personal Accident Cover for pillion
riders.
● Transfer of No Claim Bonus (NCB) of up to 50% *
Acko
Two Wheeler Insurance
You may apply for Acko online forNewBike Insurance quickly and without any paperwork, and the claims procedure is also very rapid. You can get reimbursement for minor damages in just two hours by providing images of the damaged bike. *
Advantages of Acko Two Wheeler Insurance are:
●
There is no paperwork
required for the application and no intermediary commission.
●
Options for personal
accident insurance, a complete plan, and third-party coverage
●
If you wait five years
before filing a claim, you could receive a reduction of up to 50%.
●
Cashless claims to process
online
● For FY 2021–2022, the On Damage portfolio's claim settlement ratio is 95.45%. *
HDFC
Ergo Two Wheeler Insurance
By purchasing this insurance, you are covered by an insurance provider with more than 1.5 crore clients. The company promises many add-on features and an incredibly high claims settlement ratio. *
Highlighted advantages of HDFC Ergo Two Wheeler
Insurance:
●
Faster claims processing
using the AI-enabled tool IDEAS
●
Emergency roadside
assistance service
●
Personal accident insurance
for passengers
●
New bike insurance
specifically designed to cover both private and third-party losses
● In FY 2022, all motor OD claims will be resolved. *
Conclusion
If you want a
no-frills plan that keeps you inside the legal requirements:
Go with third-party
two-wheeler insurance.
Get an Own Damage cover in
addition to any riders you desire as a financial safety net.
Choose a comprehensive plan
with the add-ons you want to include for more protection and less paperwork.
The insurance provider with the most affordable add-ons might be a good option for you, even though the business with the most network garages may be the best option for someone else.*
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* Standard T&C Apply
'Insurance
is the subject matter of solicitation. For more details on benefits,
exclusions, limitations, terms, and conditions, please read the sales
brochure/policy wording carefully before concludingasale.'