Some trusted companies offering Two-Wheeler Insurance in India are:
- Bajaj Allianz Two-Wheeler Insurance
- Bharti Axa Two-Wheeler Insurance
- Reliance Two-Wheeler Insurance
- HDFC Ergo Two-Wheeler Insurance
- Royal Sundaram Two-Wheeler Insurance
- IFFCO Tokio Two-Wheeler Insurance
There are some companies offering online insurance policies which people can buy sitting at home and they can also pay time-to-time premium online. To renew the insurance of the old vehicles is also become a hassle-free job through online renewal facilities.
The premium rate of Two-Wheeler Insurance is very low and anyone can afford it. The premium amount of a Two-Wheeler Insurance depends on the quality and cost of the vehicle, if the vehicle is more heavy and powerful the premium amount will be more and vice versa. It is also determined by the city where the bike is purchased. If it is purchased in a big city the premium amount will be higher, as in these places the vehicles are more vulnerable to accidents and thefts. It is better to avoid claiming insurance for minor injuries and damage otherwise it would lead to the increase in the rate of premium.Insurance companies now offer two wheeler insurance policies with coverage terms of 1, 2, or 3 years. There are some insurers who offer special discounts on long-term plans with policy term of 2 or 3 years.
In India it is made mandatory by the government to have Insurance of the vehicle. The Insurance Regulatory Development Authority of India (IRDAI) which sanctions approves all the insurance companies of the country. Therefore it is a wise move to have insurance and be safe from unwanted expenditure on the damaged vehicles.