Coverage Options for Two-Wheelers Provided by Carriers:
The three primary forms of two-wheeler protection offered by Indian insurance firms are as follows:
Full Motorcycle Insurance: When an incident occurs, this kind of coverage safeguards the policyholder and the insured individual’s car. With this sort of coverage, the other parties and their car are also covered.
Protection for Third Parties: For damages brought on by the person who is insured’s car, insurance is given to the other party and their car is covered. Third-party liability protection is required for two-wheelers operating on Indian roads, according to the Motor Vehicle Tariff Act, 1988.
Own Destruction Coverage: This offers protection against loss or harm brought on by collisions, fires, natural catastrophes, or other occurrences.
#1. IFFCO Tokio General Insurance Company Limited:
Since the year 2000, IFFCO Tokio General Insurance Company Limited has provided a variety of insurance solutions to its clients. There are around 4,300 cashless facilities where it provides solutions thanks to its extensive national network. Its goal is to provide rural residents with a variety of insurance options.
Important Specifications of IFFCO Tokio Two-Wheeler Insurance:
- In 4 hours, claims are resolved.
- Customer support is open 24/7 for assistance with claims.
- More than 4,300 cashless stations that provide maintenance have been spread out throughout the nation.
- There are special offers available, as well as 8 customizable add-on coverings.
- High ratio of 98.35% claim settlements.
#2. Bajaj Allianz General Insurance Company Limited:
When it pertains to motorbike protection, Bajaj Allianz is one of many favored brands due to its customer-focused strategy and dependability. The organization has received the IDC Financial Insights Innovation Awards designation of “Best Insurer in India 2020.” Cash-less facilities of over 4500, 24/7 help, and quick and simple claims help are all distinguishing factors.
Important Features of Bajaj Allianz Bike Policy:
- Bike protection that covers several years is offered for up to three years. No hassles with annual insurance renewals.
- Simple payment of claims procedure.
- Digital policy purchases or renewals are quick and simple.
- Services for clients are available 24/7.
- There is no available depreciating add-on coverage.
- No vehicle examination is required for online insurance renewal.
#3. Royal Sundaram General Insurance:
Royal Sundaram General Insurance is renowned for its cutting-edge umbrella insurance solutions created for families, people, and organizations. With 158 locations across India, this well-known insurance organization has assisted 28 million clients so far. The business takes pride in becoming the first insurer to offer a cashless method of settling claims.
Unique Selling Proposition: low rates, quick and easy claim resolution, and cashless facilities greater than 3300.
Coverage for two-wheelers from Royal Sundaram: Key Elements:
- Strategies for two-wheelers with reasonable premiums.
- Long-term coverage is offered for up to three years.
- Quick and simple claim resolution within 10 days.
- There isn’t a lot of paperwork needed.
#4. SBI General Insurance Company Limited:
With the launch of SBI General Insurance Company, SBI has established itself as an established brand in the financial and banking sectors. SBI General now services the retail sector, SME, and industrial markets and is present in more than 110 cities in India. The SBI General Two-Wheeler Insurance Policy represents one of the most popular offerings on the marketplace due to its comprehensiveness and multitude of customer-focused perks.
Unique Selling Proposition: pricing that is specifically tailored to each applicant’s background and further reductions.
The Main Characteristics of SBI General Two-Wheeler Insurance:
- Personalized rate depending on consumer description.
- For those who get insurance between the ages of 25 and 55, there is a price reduction.
- Further savings and rewards for prompt coverage renewals.
#5. The New India Assurance Company Limited:
New India Assurance, a fully-owned subsidiary of the Indian government, today conducts business globally over Rs. 31,573 crores and is present in 28 different countries. The New India Assurance has more than 2214 offices and 1 1086 micro offices spread out across the country. The greatest degree of financial strength to meet the demands of the customers has been proven by New India Assurance, which is the only direct provider in India that was given an ‘A’ rating by AM Best.
A cashless garage with more than 1173, a flawless complaint framework, and speedy handling of claims are distinguishing factors.
Two-Wheeler Insurance from New India Assurance: Key Elements:
- Insurance buyers have two options: the straightforward “Liability only policy” or the all-inclusive “Package policy.”
- There is accessible add-on coverage for extras, personal accident insurance, travel insurance, and paid drivers.
Conclusion:
Select a bike coverage company that offers extras at a reasonable price and has a favourable payout percentage. Consider the two-wheeler protection company that offers 24/7 support services and a secure online claim filing option after checking the garages, particularly the nearby ones that are affiliated with the insurance business.