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List of Insurance Companies offering Two Wheeler Insurance in India

List of Insurance Companies offering Two Wheeler Insurance in India

Two wheeler insurance protects against third party damage as well as the own damage to the bike. There are dozens of insurance companies in India offering two wheeler insurance.  Insurance companies are trying to offer various benefits and trying to attract customers with low premiums too. This article would provide the list of insurance companies offering two wheeler insurance in India.

What is Two wheeler insurance?


Two wheeler insurance also termed as bike insurance provides financial assistance in case of accident.

Two wheeler insurance comes in three variants.

1) Third party insurance provides insurance arising against damage done to the third party in case of accident. This is mandated by law.

2) Own damage cover. Under this variant, it covers damages done to the vehicle due to accident. This is an optional and not mandated by law.

3) Comprehensive two wheeler insurance provides third party damage as well as own damage coverage due to accident, theft and natural disasters.  These days, everyone would consider comprehensive package only.

List of Insurance Companies offering Two Wheeler Insurance in India


Here is the list of bike insurance companies, network garages and latest claim ratio. Incurred Claim Ratio = Net Premiums Paid over total premiums received by the insurance company. This indicates how much money company is retaining as profits and how stringent their underwriting skill are. Generally, one should aim to opt insurance policy where incurred claim ratio is between 60% to 90%.

S No Companies Network Garages Incurred Claim Ratio FY2021 Incurred Claim Ratio FY2022
1 Bajaj Allianz General Insurance Over 4000 65.83% 68.06%
2 Bharti Axa General Insurance Over 5200 81.91% 64.27%
3 Hdfc Ergo General Insurance Over 6800 79.21% 70.02%
4 Icici Lombard General Insurance Over 8800 76.53% 65.77%
5 Iffco Tokio General Insurance Over 4300 87.77% 84.04%
6 Kotak General Insurance Over 1300 75.66% 74.64%
7 National General Insurance Over 3100 116.44% 78.55%
8 New India General Insurance Over 3000 85.35% 78.20%
9 Reliance General Insurance Over 6200 84.63% 76.89%
10 Sbi General Insurance Over 16000 92.05% 86.10%
11 United India General Insurance Over 3100 96.45% 77.17%
12 Universal Sompo General Insurance Over 3500 89.54% 87.96%
Suresh KP

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