You will find tips to choose the best two-wheeler insurance policy in India, factors affecting insurance premium amount and the difference between “liability-only” and the “comprehensive package” policy in the later section of the article.
Let’s check first check best two wheeler insurance in India 2021 and which is the best insurance company to buy the two wheeler insurance.
Best Two Wheeler Insurance Company in India 2021
Table of Contents
#1. National Insurance Co. Ltd. Two Wheeler Insurance

National Insurance is the oldest insurance company in India with the highest incurred claim ratio of 121.67%
National Insurance Co has pan India 1998 branches. Plus it provides the facility to buy or renew the two-wheeler policy online.
#2. SBI General Two Wheeler Insurance

SBI general insurance has a high incurred claim ratio of 91.75%. The details of the insurance are also available through nearby SBI branches.
The unique benefit of SBI general insurance is the customized pricing based on the profile with discounts available for persons aged between 25 and 55 years of age.
#3. United India Two Wheeler Insurance

United India insurance company has countrywide 1340 offices at tier II, tier III cities and even villages. The insurer has high incurred claim ratio of 91.72%.
United India offers a 10% discount in premium to individuals making a digital payment while buying a new policy through its website.
#4. Royal Sundaram Two Wheeler Insurance

Royal Sundaram has a higher incurred claim ratio of 84.99%. The insurer offers long term comprehensive package policy for up to 3 years.
Royal Sundaram has a quick hassle-free online claim settlement process with 10 days claim settlement.
#5. HDFC ERGO Two Wheeler Insurance

HDFC Ergo is a AAA rated insurer from ICRA having incurred claim ratio of 84.37%.
The insurer gives the facility to make unlimited claims on comprehensive insurance and a unique benefit of intimating the claim online via QR code.
Best Two Wheeler Insurance in India
#1. National Insurance Co. Ltd. Two Wheeler Insurance
National Insurance is the oldest insurance company with the highest incurred claim ratio of 121.67%. Which is due to payment of pending claims of earlier years but in general indicates a healthy claim process.
National Insurance Co issues one year as well as the long term two-wheeler policies which continues till the fitness of the vehicle according to RTA.
Even though National Insurance Co is a government company, still it provides the facility to buy or renew the two-wheeler policy online. The insurer even has live chat support for general queries.
National Insurance Co. Incurred Claim Ratio for Motor – 121.67%
- National Insurance Co. Liability Only Policy
- National Insurance Co. Package Policy
Two Wheeler Insurance Policy Coverages Include
- All liabilities as per the motor vehicles act as well as damages caused to the own vehicle, co-rider and self.
- The own damages covered are accident by
- External means like fire, explosion, lightning
- Damages during transit,
- Burglary or theft,
- Social accidents like terrorism, riots and strikes
- Natural events like floods, storms, earthquakes or landslides.
- Highest incurred claim ratio
- Pan India 1998 branches
- No network of garages or roadside assistance
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#2. SBI General Two Wheeler Insurance
The unique benefit of SBI general insurance is the customized pricing based on the profile with discounts available for persons aged between 25 and 55 years of age.
The premium amounts are further lowered as SBI General provides an additional discount for insuring a vehicle without a break.
SBI General Insurance Incurred Claim Ratio for Motor – 91.75%
- SBI Two Wheeler Package Policy
- SBI Long Term Two Wheeler Insurance Policy for 2 or 3 years
- SBI Long Term Two Wheeler – Third-party policy for 5 years
Two-wheeler Insurance Policy Coverages Include
- Compulsory third party liabilities together with loss or damage to the vehicle
Add on Covers
- Return to Invoice
- Protection of NCB in case of a claim
Additional Opt-in Cover
- Can opt for a higher limit personal accident cover i.e. more than Rs. 15 Lacs
- Personal accident cover for pillion rider
- Customized pricing based on profile
- Additional discounts for insuring without a break
- Details also available through nearby SBI branches
- No network of garages or roadside assistance
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#3. United India Two Wheeler Insurance
United India Insurance offers a 10% discount in premium to individuals making a digital payment while buying a new policy through its website.
One can reach United India through their 1340 offices. Further, the insurer has a presence in more than 200 tier II and III cities and villages through innovative micro offices.
United India Insurance Incurred Claim Ratio for Motor – 91.72%
- United India Liability Only Policy
- United India Package Policy
Two-wheeler Insurance Policy Coverages include
- Compulsory third party liabilities together with loss or damage to the vehicle
- 10% additional discount for digital payments
- High incurred claim ratio
- Widespread reach
- No network garages
#4. Royal Sundaram Two Wheeler Insurance
Royal Sundaram gives coverage up to 3 years in a single insurance policy. The long term policy relieves from yearly premium payment, covers any increase in premium and is easy for record keeping.
The only drawback is that you cannot extend a 2-year policy to 3-year policy. One needs to cancel the policy and get afresh 3-year policy.
Royal Sundaram has a lower owner cover of Rs. 1 Lac only in accident cases. Further, the insurer has a rather decent 10 working day claim settlement process.
Royal Sundaram Insurance Incurred Claim Ratio for Motor – 84.99%
- Royal Long Term Package Policy for 2 or 3 years
Two-wheeler Insurance Policy Coverages include
- Liability to the third party
- Loss or damage to two wheeler
- Personal Accident cover
- Long term package policy
- Higher incurred claim ratio
- Lower personal accident cover
#5. HDFC ERGO Two Wheeler Insurance
HDFC Ergo is a AAA rated insurer from ICRA having 24 X 7 support. HDFC gives a facility of Insurance without Inspection. The claim can be intimated online via QR code.
The best part is that HDFC gives paperless insurance. Where you get a policy online with easy payment options like credit & debit cards and net banking.
HDFC ERGO Insurance Incurred Claim Ratio for Motor – 84.37%
- HDFC ERGO Single Year Comprehensive Insurance Plan
- HDFC ERGO Long Term Comprehensive Insurance Plan for 2 or 3 years
- HDFC ERGO Two Wheeler Liability Only Insurance Plan
Two-wheeler Insurance Policy Coverages include
- Third-party liabilities
- Accidental damage
- Theft
- Damage due to fire and natural disaster
Add on Covers
- Zero depreciation
- Emergency assistance cover
- AAA rated Insurer
- Online claim intimation via QR code
- Emergency assistance not vailable on comprehensive long term plans.
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#6. Bharti AXA Two Wheeler Insurance
The best part of Bharti AXA two wheeler insurance is the quick and smooth claim settlement process. You can have hassle free online claim registration and tracking.
The insurer has a network of 3800+ garages for cashless repairs and a 24/7 claim support team.
Bharti AXA Insurance Incurred Claim Ratio for Motor – 81.74%
- Bharti AXA Liability Only Policy
- Bharti AXA Comprehensive Insurance Package
Two-wheeler Insurance Policy Coverages include
- Liability to third party
- Loss or damage to two wheeler
- Personal Accident cover
Add on Covers
- Zero depreciation cover
- Online claim registration and tracking
- Network of 3800+ garages for cashless repairs
- Few add-on covers
#7. Reliance General Two Wheeler Insurance
Two wheeler insurance from Reliance General can be done with zero paperwork. The insurer provides customized add-on covers and has an instant renewal process.
Further, Reliance has a cashless repair facility at 430 garages location.
Reliance General Insurance Incurred Claim Ratio for Motor – 81.47%
- Reliance General Long Term two wheeler insurance for 3 years
- Reliance General Two wheeler package policy
- Reliance General Third party liability insurance
Two-wheeler Insurance Policy Coverages include
- Liability to third party
- Loss or damage to two wheeler
- Personal Accident cover
Add on Covers
- Nil depreciation
- Personal accident covers
- Zero paperwork
- Fewer network of garages
#8. New India Assurance Co. Two Wheeler Insurance
New India two wheeler package insurance policy even pays Rs. 300 for towing charges.
New India Assurance has a wider reach when compared to other government insurers. With 2452 offices across India plus an online presence for buying and renewing policies online.
New India Assurance Incurred Claim Ratio for Motor – 79.68%
- New India Assurance Liability Only Policy
- New India Assurance Package policy
Two-wheeler Insurance Policy Coverages include
- Liability to the third party
- Loss or damage to two wheeler
- Personal Accident cover
- Package policy includes towing charges
- No network of garages
#9. IFFCO Tokio Two Wheeler Insurance
The unique benefit of IFFCO Tokio insurance is the Zero depreciation cover on nylon, plastic, fiberglass and rubber parts for two-wheelers.
Besides that, IFFCO Tokio has more than 4300+ garages offering cashless services and a 24 x 7 claim settlement assistance online.
The insurer also has a facility of quick claim settlement via the mobile app for claims up to Rs. 7000.
IFFCO Tokio Insurance Incurred Claim Ratio for Motor – 79.19%
- IFFCO Tokio Annual comprehensive Plan
- IFFCO Tokio Long Term comprehensive Plan for 3 years
- IFFCO Tokio Third-party Liability Plan
Two wheeler Insurance Policy Coverages include
- Own Vehicle damage
- Theft
- Damage due to man-made activities
- Protection from third party legal liabilities
- Protection against natural disaster
Add on Covers
- Coverage for personal accidents
- Zero depreciation cover
- Quick claim settlement via mobile app
- 4300+ network of garages
- Lower incurred claim ratio
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#10. ICICI Lombard Two Wheeler Insurance
ICICI Lombard offers package policy for 1, 2 or 3 year tenures to choose from. The insurer has no vehicle inspection facility, if you are buying a new or renewing an existing policy with ICICI Lombard.
Further, the policy application is paperless and hassle-free. The claims process is online.
ICICI Lombard has 2500+ network garages for repairs and cashless assistance.
ICICI Lombard Insurance Incurred Claim Ratio for Motor – 77.44%
- ICICI Lombard Two Wheeler Package Policy for 1,2 or 3 years
Two wheeler Insurance Policy Coverages include
- Loss or damage against natural calamities
- Loss or damage against man-made calamities
- Personal accident cover
- Third party legal liability
Add on Covers
- Cover for electrical and non-electrical accessories
- Flexible package policy tenure for 1, 2 or 3 years
- 2500 network garages
- Lower incurred claim ratio
#11. TATA AIG Two Wheeler Insurance
For two wheeler insurance TATA AIG has more number of add-on covers to customize the policy. The list of which is in the subsection.
The unique add-on is for personal accident cover even for unnamed persons and covers for electrical and electronic fittings.
TATA AIG Insurance Incurred Claim Ratio for Motor – 68.62%
- TATA AIG Auto Secure package policy
- TATA AIG Auto Secure long term package policy for 1,2 or 3 years
- TATA AIG Liability only policy
Two-wheeler Insurance Policy Coverages include
- Loss or damage to the vehicle insured
- Liabilities to third parties
- Personal Accident cover
Add on Covers
- Personal accident cover to unnamed persons
- Emergency medical expenses
- Consumable cover
- Depreciation Allowance
- Covers for Electrical or Electronic fittings
- More add-on options
- Low incurred claim ratio
Types of Two Wheeler Insurance
Two-wheeler insurance is of two types, Liability-only insurance and Comprehensive package insurance.
With recent Supreme Court rulings, both the insurance types for new two-wheelers are available for periods up to 5 years. The 3-year and 5-year insurance are termed as long term insurance plan. Hence, the commonly available plan periods are single, 2, 3 or 5 year periods.
The liability only plan covers damages and losses to the property of the third party in case of your fault in an accident.
A comprehensive plan includes all the benefits of liability only plan plus extensive coverage for two-wheelers and the owner.
The additional coverage includes damages caused by fire, burglary, riot, flood and terrorism. It also gives personal accident covers to the riders in case of accidents.
Difference Between Comprehensive and Third-Party Two-Wheeler Insurance
Third Party Insurance | Comprehensive Insurance |
Safeguards only against the third party litigations |
Covers damages to vehicles and property, injuries and medical expenses of all parties self as well as third party |
Mandatory as per the Motor Act |
Offers all-around coverage hence advisable to have |
Covers damages arising out of vehicle collision |
Covers damages arising out of a vehicle collision. Plus damages due to fire, theft, natural calamities, riots and terrorism. |
Does not cover damages to your vehicle |
Comprehensive insurance cover damages to the vehicle |
Personal Accident cover for a sum assured of Rs. 15 Lacs |
Personal Accident cover for a sum assured of Rs. 15 Lacs |
Base premium depends on Engine CC. |
Premium depends on lots of other factors also |
Lower Premium | Higher Premium |
Benefits of Best Two Wheeler Insurance in India
- Free of financial stress.
- Legal protection.
- Compliance with the statutory Indian Motor Act guidelines.
- Protection against unforeseen damages and expenses.
- Personal accident cover in case of permanent disability or death.
- Protection against third-party liabilities.
Factors Affecting Two Wheeler Insurance Premium
#1. Bike Value or the IDV
The costly high-end motorcycles like Royal Enfield, Harley Davidson and Ninja will have a higher premium when compared to regular Pulsar or Honda Shine bikes.
#2. Age of the Motorcycle
The rate of depreciation increases with each passing year with 50% being the highest depreciation charged in the 5th year. Depreciation decreases the IDV, hence older bikes have lower premium amounts.
#3. The capacity of the Engine
The higher the cubic capacity of the engine the higher is the premium amount to be paid. The minimum value of premium as per the Indian Motor tariff is below
Cubic Capacity | Minimum Premium Value |
Not exceeding 150cc | Rs. 5000 |
Exceeding 150cc to 350cc | Rs. 6000 |
Exceeding 350cc | Rs. 7000 |
#4. Geographical Zones
Metro cities have higher traffic and thus chances of an accident are more and are hence categorized under zone A.
Due to the above reason registration of vehicle at RTO offices located in zone A attract a higher premium as compared to RTO offices located in zone B.
Cities in Zone A include – Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, New Delhi and Pune.
Zone B – Rest of India.
#5. Age of the Owner
Unfortunately, younger persons aged between 18 to 25 years are perceived by insurers to be at a higher risk than an old mature driver thus charging a higher premium.
#6. Discounts for Membership and on Installing Anti-theft Devices
Bikers having a membership of recognized Automobile Associations get discounts of up to Rs. 50 on the premium amount.
Likewise, fitting ARAI approved anti-theft devices can get you up to Rs. 500 of discount on the own damage component of premium.
#7. Voluntary Deductible
Declaring minimum amount which you are willing to bear, lowers the premium outgo. The maximum discount of up to Rs. 250 on the own damage premium can be availed for declaring deductible of Rs. 3000.
#8. No Claim Bonus
Riding safely can lower the premium outgo. Every year insurers reduce the premium amount for no claims made during the year. One can get a 50% discount on own damage premium for 5 consecutive claim-free years.
Things to Consider while Buying Best Two Wheeler Insurance Policy in India
#1. Period of Cover
Insurers offer both types of plans for varying periods of time. The longer duration policy relieves you from the hassle of yearly renewals and protects from any increase in premium.
However, there is a higher upfront premium payment. Choose the period as per your financial condition.
#2. Insurance Company Details
The solvency of the insurance company is of utmost importance.
Look for the authenticity of the insurer company from IRDA website like registration and the financial standings.
#3. Hassle Free Application, Renewal and Claim Process
The insurer should have a smooth, hassle-free online application and renewal process with a facility to deliver the digitally signed insurance copy online.
Likewise in case of claim initiation, look for an insurer who provides an easy online facility for claim initiation and support.
#4. Add-on Covers
Add-on covers increase the level of protection and can be purchased at a nominal premium.
The add on covers include zero depreciation cover, personal accident covers for self and pillion riders, cover for accessories.
#5. Insured Claim Ratio
The ratio indicates the net claims incurred by the insurance company per net premium earned during the period.
Higher the ratio the better is the claim settlement process and policy of the company.
#6. Support & Services
After sales customer support and services are one of the crucial factors in times of breakdowns, accidents and for making claims.
Look for an insurance company with 24 X 7 quality support, roadside assistance, cashless garage networks and assistance during claims settlement.
Conclusion
National Insurance Co. Ltd. and SBI General Insurance are the best two-wheeler insurer when you look at the incurred claim ratio. But SBI branches can be the first touchpoints to get information about SBI General insurance.
You can pick either of them for your two-wheeler insurance requirements.

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