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Best Bike Insurance With Personal Accident Cover
Ride every day? Then protect your bike every day, for just a few hundred rupees a month.
Features of InvestKraft’s Best-in-Class Bike Insurance:
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Driver and Co-Passenger Personal Accident (PA) Cover
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24/7 Roadside Assistance
Secure Your Bike Today!
Benefits of Two-Wheeler Insurance From InvestKraft
When you buy your bike insurance from InvestKraft, you get the following benefits:
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Protection from Financial Loss: Whether it is a broken indicator or a stolen bike, your insurance will pay for it.
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Mandatory by Law: Third-party cover is a must as per the Motor Vehicle Act.
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Personal Accident Coverage: In an unfortunate accident, if you die in the accident, a lump sum of money will be given to your family or nominee.
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No Claim Bonus (NCB): If you do not make any claims, you can get discounts on your premium every year.
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Cashless Garages: Many insurance companies have tie-ups with garages, so you can get your bike repaired, and you do not have to pay anything.
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Useful Add-ons: Zero depreciation, engine protection, and roadside help are some of the add-ons you can buy along with your policy.
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Protection from Theft and Disasters: In case of flooded streets, other natural calamities, a stolen bike or any other unfortunate event, your insurance policy will cover the expenses.
Top Bike Insurance Companies in India
The following are the companies providing the best bike insurance in India:
| Company | Claim Settlement Ratio (Last 3 Months) | Key Features |
|---|---|---|
| Royal Sundaram | 96.17% | Extensive coverage, hassle‑free cashless claims; strong personal accident protection |
| The Oriental Insurance | 91.62% | Vast branch network, public‑sector reliability, diverse product suite |
| IFFCO‑Tokio | 89.37% | JV with Tokio Marine; comprehensive general insurance products |
| Tata AIG | 95.46% | Backed by Tata’s financial strength, wide product offerings |
| HDFC ERGO | 98.59% | Collaboration with ERGO International; extensive health & general plans |
| Universal Sompo | 91.58% | Tailored solutions, varied add‑ons and covers |
| New India Assurance | 90.73% | Oldest PSU insurer; trusted, comprehensive offerings |
| Cholamandalam MS | 93.63% | Wide garage network, focused on customer convenience |
| SBI General | 96.47% | Strong bancassurance via SBI; broad product suite |
| Future Generali | 94.98% | Innovative products, customer‑centric service |
| Edelweiss (HDFC ERGO) | 98.59% | Fast claim settlements, customizable plans |
| Reliance General | 98.75% | High CSR, strong network, part of the Hinduja Group |
| Liberty General | 97.46% | Customer‑oriented, quick claim resolutions |
| Bajaj Allianz | 93.54% | JV with Allianz SE, robust motor & general insurance |
| Kotak Mahindra GI | 97.61% | Wide motor and health plan portfolio |
| Shriram GI | 86.86% | Need‑based products; Shriram Group backing |
| ICICI Lombard | 98.53% | Leading digital platform; seamless policy & claim experience |
| National Insurance | 91.31% | PSU legacy with wide product range |
| Go Digit | 96.83% | Digital-first, millennial‑friendly, speedy claims |
| Navi General | 95.13% | Customisable digital policies; excellent user experience |
| Magma HDI | 94.72% | JV with HDI and emphasises customer service |
Why Choose InvestKraft for Bike Insurance?
With our simplified, secure and smart insurance services, you can trust us for your car insurance requirements.
More Details About Bike Insurance
Let us understand more details about bike insurance or two-wheeler insurance from the following points:
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It is a legal contract between you and an insurance company, wherein, in case of accidents, theft, or natural disaster, the expenditure will be covered by the insurance company.
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In case of third-party liabilities, also, the insurance will also cover the expenses.
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Third-party bike insurance is mandatory in India.
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But if you want to protect your bike too, go for a comprehensive two-wheeler insurance policy. It covers damages to your vehicle, whether it is due to a road accident, a fire, or even a tree falling on it during a storm.
How Many Types of Bike Insurance Are There in India?
The following are the major types of bike insurance in India:
Third-Party Insurance
Covers damage or injury caused to someone else. Mandatory by the Motor Vehicles Act, 1988. This is a cheap bike insurance.
Own Damage (OD) Cover
Covers damage to your bike due to accident, fire, theft and other mishaps. Combine with third-party insurance for complete cover.
Comprehensive Bike Insurance
Covers both third-party and own damage. Includes theft, fire, floods, and more. Premium is slightly costlier, but worth it.
What is the Difference Between Comprehensive and Third-Party Bike Insurance?
Let us understand the differences between these two types of two-wheeler insurance from the table below:
| Feature | Comprehensive | Third-Party Only |
|---|---|---|
| What it Covers | Your bike + third-party | Only third-party |
| Legal Requirement | Not mandatory | Mandatory |
| Premium | Higher | Lower |
| Add-ons | Yes | No |
| Theft/Natural Disaster | Covered | Not covered |
| Ideal For | New bikes, daily riders | Old bikes, occasional riders |
Comparison of Different Types of Bike Insurance Plans
Let us see what are the aspects covered by various bike insurance plans:
| Coverage | Third-Party | Own Damage | Comprehensive Insurance |
|---|---|---|---|
| Third-Party Injury | Yes | No | Yes |
| Third-Party Property | Yes | No | Yes |
| Your Bike Damage | No | Yes | Yes |
| Personal Injuries | No | No | Yes |
| Theft/Natural Calamities | No | No | Yes |
| Hit by an Uninsured Driver | No | No | No |
| Business Use Cover | No | No | No |
For bike insurance renewal and the best bike insurance, InvestKraft can provide you with the best options. Also, you can check your bike Insurance renewal online on InvestKraft.
Frequently Asked Questions (FAQs)
A: The best online bike insurance depends on individual requirements, but comprehensive policies from providers such as Digit and Policybazaar stand out for their excellent affordability, diverse coverage options and user-friendly purchasing processes. These companies offer customizable plans and streamlined claim procedures, making them preferred choices for many users.
A: Yes, online bike insurance is legitimate as long as it meets regulatory standards. Policies acquired from licensed insurers offer legal protection for third-party liabilities and damages, guaranteeing your safety while riding on the road.
A: Investkraft is widely seen as a dependable choice for 2-wheeler insurance, providing attractive premiums and diverse coverage options. Nevertheless, it is crucial to compare it with other insurers to ensure it aligns with your unique needs and preferences.
A: In India, the cost of bike insurance usually begins at approximately 1.5 rupees per day for basic coverage. Premiums are influenced by several factors, including the bike’s make, model, engine capacity and the type of coverage selected.
A: Yes, purchasing vehicle insurance online is safe when done through reputable insurers. These platforms utilize secure payment methods and adhere to regulatory standards, guaranteeing the protection of customer data and the reliable issuance of policies.
A: Skipping bike insurance is illegal in numerous jurisdictions, including India. The Motor Vehicles Act requires insurance to cover third-party liabilities and riding it could lead to fines and legal consequences.
A: Yes, two-wheeler insurance is a legal requirement under the Motor Vehicles Act of 1988 in India. This legislation mandates that all motorcycle owners must secure at least third-party insurance to safeguard against liabilities arising from accidents.
A: Riding a bike without insurance is not only illegal but it can also lead to severe penalties that can impact a rider’s finances and future. If a rider is caught operating their bike without the necessary insurance coverage, they may face hefty fines and possible legal actions, which could include court appearances or additional sanctions. Moreover, in the unfortunate event of an accident, the uninsured rider would be held personally liable for any damages or injuries, potentially resulting in costly out-of-pocket expenses and long-lasting repercussions.
A: The Insured Declared Value (IDV) represents the highest sum guaranteed by the insurer in the event of a total loss or theft of the vehicle. It reflects the current market value of the bike, taking depreciation into account.
A: Zero depreciation insurance offers comprehensive coverage for repair costs without factoring in depreciation on parts. This policy guarantees that the insured receives the full amount needed for repairs following an accident, significantly boosting financial security.
A: A comprehensive bike insurance policy is regarded as the top choice because it offers coverage for both third-party liabilities and damages to your own bike. This ensures robust protection against accidents, theft and natural disasters. Additionally, it provides the option to include add-ons for even greater coverage.
A: Online insurance can be more affordable as it cuts out middlemen, thereby lowering commission expenses. Insurers can offer reduced premiums by optimizing their operations and delivering services directly through digital platforms, which also significantly improves the customer experience.
A: Buying insurance online is frequently advised for its convenience, reduced costs and faster claims processes. Online platforms enable seamless comparisons of policies, empowering consumers to select the most suitable coverage directly, without the need for intermediaries.
A: When your 2-wheeler insurance policy expires, you have the option to renew it with your existing insurer or transition to a new provider. It is essential to act quickly to renew your policy to prevent legal penalties and maintain uninterrupted coverage against any potential liabilities.
A: Bike insurance refund policies differ among insurers. Typically, if you cancel within a designated timeframe after your purchase, you might be eligible for a partial refund. It is crucial to review the terms and conditions of your policy to understand the specific details related to cancellations and refunds.
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