List of Bike Insurance Companies List In India
Are you choosing the ideal bike or scooter model? Here is a list of bike insurance companies list in India.
Table of Contents
All valid claims received from policyholders are directly responsible for settlement by insurance companies. These firms are free to check the information before settling claims.
List of Bike Insurance Companies List In India
|
Company name |
Founding year |
Claim Settlement Ratio FY 2019-20 |
|
1906 |
99.61% |
|
|
2016 |
98.02% |
|
|
2001 |
98.27 % |
|
|
2001 |
85.89% |
|
|
2008 |
84.52% |
|
|
2002 |
88.69% |
|
|
2007 |
80.47% |
|
|
1919 |
91.23% |
|
|
2000 |
87.71% |
|
|
2000 |
95.30% |
|
|
2001 |
82.81% |
|
|
1947 |
87.48% |
|
|
2001 |
79.60% |
|
|
2009 |
85.71% |
|
|
2016 |
76.20% |
|
|
2016 |
83.49% |
|
|
2016 |
84.26% |
|
|
2001 |
92.66% |
|
|
2015 |
89.51% |
|
|
2013 |
77.26% |
|
|
2009 |
90.49% |
|
|
2007 |
89.60% |
|
|
2006 |
91.76% |
|
|
1938 |
82.93% |
|
|
2007 |
90.78% |
Factors To Look For In A Two Wheeler Insurance Company
The following facilities and features are included in a good insurance plan. When choosing such protection plans, keep these considerations in mind.
-
Brand reputation
The first thing to look for is a reputable bike insurance company that has been in business for a while. Look up the company's name on the internet and read user reviews to see if its insurance services are satisfactory to the majority of customers. Positive feedback indicates that existing customers had a well-rounded experience.
-
Insurance premiums
Another major factor that also influences decisions about the best insurer is the amount of money required to obtain a two-wheeler insurance policy. An aggregator website will help you compare different rates. However, be sure to double-check the available coverage as well as the premiums. You must choose a policy that offers the best value for money.
-
IRDAI approval
The Insurance Regulatory and Development Authority of India is a government agency that oversees the growth of the country's insurance industry. Choosing from among the IRDAI approved companies is the best option because these companies adhere to all of the IRDAI's rules, ensuring adequate benefits for policyholders.
-
Network Garages
The majority of two-wheeler insurance companies have partnerships with a number of garages in India. When a policyholder visits one of these network garages for repairs, the whole process is cashless. The insurance company pays the garage directly for the repairs, so the policyholder doesn't have to wait for reimbursement. A specific factor to consider when purchasing a two-wheeler insurance plan is the number of network garages available for a particular insurance company.
-
The ratio of claims settled
The percentage of claims that an insurance company settles out of the total claims it receives is a good indicator of whether or not the company is too strict when it comes to bike insurance claim settlement. Some insurance companies handle claims quickly and painlessly, while others make policyholders jump through hoops to get their due compensation.
-
Convenient and accelerated claims process
During an emergency, people file insurance claims. You need immediate financial assistance from your insurer at this time. As a result, you must choose an insurance company that provides immediate assistance after you file a claim. Because accidents can happen at any time, choose businesses that provide customer service 24 hours a day, seven days a week.
Also Read:- Want To Cancel Your Bike Insurance Policy And Get A Refund? Read How To Do It
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.
