Best Two Wheeler Insurance Plans in India 2020

There are a great number of comprehensive bike insurance plans offered in India, some charging higher premiums than others. Our analysts at ValueChampion have researched hundreds of policies to find the most affordable plans based on the different bike owner profiles.

Cheapest Two Wheeler Insurance Policies

Two-wheeler plans can get costly. Many of the insurers decorate their policies with add-ons and other bells and whistles that you may not need. Below are some great plans that can fit any budget.

Cheapest Two Wheeler Insurance Plan with Personal Accident for Less Powerful Bikes (50cc - 250cc): Reliance Two-Wheeler Insurance

  • Consider if you are looking for the cheapest insurance option for you bike with an engine cylinder capacity between 50cc and 250cc
  • Maximum NCB: 50%
BenefitCoverage
Personal Accident Coverage100%
3rd Party Loss100%
3rd Party Liability100%
Damage or Loss to Your Bike100%
Emergency AssistanceNo
Towing/Relocation ExpenseNo
Theft100%

Reliance Two-Wheeler Insurance is a great option If you have a less powerful bike and you're looking for a cheap bike plan that also includes personal accident coverage. We found its premiums to be approximately 70% cheaper than the average comprehensive plan for bikes with engine cc's between 50cc and 250cc. Its coverage includes personal accident cover, third party liability, theft coverage and fire, man made and natural disaster damage coverage.

Despite the low cost, it also offers the chance to upgrade your coverage for a more comprehensive plan. You can opt for a variety of add-ons like daily allowance if you get into an accident, Equated Monthly Installments (EMI) protection to cover missed bike payments, and helmet cover. These benefits can be helpful for those who may need additional financial assistance if emergencies arise.

  • Consider if you are looking for the cheapest insurance option for you bike with an engine cylinder capacity between 50cc and 250cc
  • Maximum NCB: 50%
_
BenefitCoverage
Personal Accident Coverage100%
3rd Party Loss100%
3rd Party Liability100%
Damage or Loss to Your Bike100%
Emergency AssistanceNo
Towing/Relocation ExpenseNo
Theft100%
Reliance Two-Wheeler Insurance is a great option If you have a less powerful bike and you're looking for a cheap bike plan that also includes personal accident coverage. We found its premiums to be approximately 70% cheaper than the average comprehensive plan for bikes with engine cc's between 50cc and 250cc. Its coverage includes personal accident cover, third party liability, theft coverage and fire, man made and natural disaster damage coverage.

Despite the low cost, it also offers the chance to upgrade your coverage for a more comprehensive plan. You can opt for a variety of add-ons like daily allowance if you get into an accident, Equated Monthly Installments (EMI) protection to cover missed bike payments, and helmet cover. These benefits can be helpful for those who may need additional financial assistance if emergencies arise.

Cheapest Two Wheeler Insurance Plan with Personal Accident for More Powerful Bikes (300cc - 400cc):

  • Consider if you are looking for the cheapest insurance option for you bike with an engine cylinder capacity between 50cc and 250cc
  • Maximum NCB: 50%
BenefitCoverage
Personal Accident Coverage100%
3rd Party Loss100%
3rd Party Liability100%
Damage or Loss to Your Bike100%
Emergency AssistanceNo
Towing/Relocation ExpenseNo
Theft100%
Riders on a budget who have more powerful bikes will find that the cheapest comprehensive motorcycle plan with accident coverage is the Bharti AXA Insurance Comprehensive Two-Wheeler plan. We found its premiums to be approximately 65% cheaper than the average two-wheeler insurance plans.

The base coverage includes accidental damage, third party losses, theft, damage related to man made disasters, and damage related to natural disasters. In addition, the policy has an optional add-on of zero depreciation cover for Rs. 182. In exchange for low prices offered by this plan there is a lack of diverse add-ons and no protection against damages related to fire. Thus we recommend this plan more for more experienced riders who only need basic coverage.

  • Consider if you are looking for the cheapest insurance option for you bike with an engine cylinder capacity between 50cc and 250cc
  • Maximum NCB: 50%
_
BenefitCoverage
Personal Accident CoverageNone
3rd Party Loss100%
3rd Party LiabilityNone
Damage or Loss to Your Bike100%
Emergency AssistanceNo
Towing/Relocation ExpenseNo
Theft100%
Riders on a budget who have more powerful bikes will find that the cheapest comprehensive motorcycle plan with accident coverage is the Bharti AXA Insurance Comprehensive Two-Wheeler plan. We found its premiums to be approximately 65% cheaper than the average two-wheeler insurance plans.

The base coverage includes accidental damage, third party losses, theft, damage related to man made disasters, and damage related to natural disasters. In addition, the policy has an optional add-on of zero depreciation cover for Rs. 182. In exchange for low prices offered by this plan there is a lack of diverse add-ons and no protection against damages related to fire. Thus we recommend this plan more for more experienced riders who only need basic coverage.

Best Comprehensive Two Wheeler Insurance Plan: Edelweiss Turbocharged

  • Consider if you are looking for the best comprehensive plan in India
  • Maximum NCB: 20%
BenefitCoverage
Personal Accident Coverage100%
3rd Party Loss100%
3rd Party Liability100%
Damage or Loss to Your Bike100%
Emergency AssistanceNo
Towing/Relocation ExpenseNo
Theft100%
Due to the versatility of the plan and competitive premiums, Edeilweiss Insurance's Turbocharged Two-Wheeler Insurance Plan is the best plan offered for the average rider. Edelweiss Turbocharged plan charges premiums that are cheaper than the average premium pricing from other insurers. For instance, the Turbocharged plan charges approximately 40% lower premiums than the average comprehensive plans with personal accident coverage. The plan also offers all the necessary benefits for it to qualify as a great comprehensive plan, including accidental damage, third party liability and damage related to natural disasters.

Edelweiss can also be a great option for people with expensive bikes or bike parts. For instance, it is the only plan in the market that includes depreciation protection in its base plan. This benefit helps uphold the value of these extra parts in case of an accident. It also includes own damage protection and valuable add-ons such as consumables expense protection, and pillion protection. These can be great features if you are looking to add extra protection to your belongings and if you usually have another rider present. Lastly, Edelweiss Insurance is one of the only insurers that offers add-ons for invoice value protection (Rs. 54.40), emergency medical protection (Rs. 100), and additional third party property damage protection (Rs. 13). Invoice value protection is a great feature if you are looking to acquire extra protection just in case of theft or damage.

  • Consider if you are looking for the best comprehensive plan in India
  • Maximum NCB: 20%
_
BenefitCoverage
Personal Accident Coverage100%
3rd Party Loss100%
3rd Party Liability100%
Damage or Loss to Your Bike100%
Emergency AssistanceNo
Towing/Relocation ExpenseNo
Theft100%

Due to the versatility of the plan and competitive premiums, Edeilweiss Insurance's Turbocharged Two-Wheeler Insurance Plan is the best plan offered for the average rider. Edelweiss Turbocharged plan charges premiums that are cheaper than the average premium pricing from other insurers. For instance, the Turbocharged plan charges approximately 40% lower premiums than the average comprehensive plans with personal accident coverage. The plan also offers all the necessary benefits for it to qualify as a great comprehensive plan, including accidental damage, third party liability and damage related to natural disasters.

Edelweiss can also be a great option for people with expensive bikes or bike parts. For instance, it is the only plan in the market that includes depreciation protection in its base plan. This benefit helps uphold the value of these extra parts in case of an accident. It also includes own damage protection and valuable add-ons such as consumables expense protection, and pillion protection. These can be great features if you are looking to add extra protection to your belongings and if you usually have another rider present. Lastly, Edelweiss Insurance is one of the only insurers that offers add-ons for invoice value protection (Rs. 54.40), emergency medical protection (Rs. 100), and additional third party property damage protection (Rs. 13). Invoice value protection is a great feature if you are looking to acquire extra protection just in case of theft or damage.

Best Two-Wheeler Insurance for Families: Liberty Insurance Comprehensive Policy

  • Consider if you are looking for the best insurance plan for your family
  • Maximum NCB: 50%
  • Personal Accident Cover for Other Riders: Rs. 35/ year
BenefitCoverage
Personal Accident Coverage100%
3rd Party Loss100%
3rd Party Liability100%
Damage or Loss to Your Bike100%
Emergency Assistance4 times per policy period
Towing/Relocation ExpenseYes
Theft100%
If you are looking for a policy that would be best for your family, we would recommend the Liberty Insurance Comprehensive policy. The base coverage includes: personal accident cover, accidental damage coverage, third party coverage, third party losses, theft coverage, fire related damage coverage, man made disaster coverage and natural disasters coverage. Further, this plan offers roadside assistance for up to 4 times within a policy term, making it the only plan to offer this. This provides security to any family member riding the bike.

Additionally, the plan offers great add-ons to keep the family safe such as: personal accident cover for other occupants and emergency roadside assistance to add on to the provided 4 that you receive for your policy period. These add-ons help increase safety for all parties involved. Because this policy is one of the most expensive policies, we recommend this plan for families who aren't on a tight budget. For instance, we found its premiums to cost 64% more than the average comprehensive plan across all bikes and engine types.

  • Consider if you are looking for the best insurance plan for your family
  • Maximum NCB: 50%
  • Personal Accident Cover for Other Riders: Rs. 35/ year
_
BenefitCoverage
Personal Accident Coverage100%
3rd Party Loss100%
3rd Party Liability100%
Damage or Loss to Your Bike100%
Emergency Assistance4 times per policy period
Towing/Relocation ExpenseYes
Theft100%

If you are looking for a policy that would be best for your family, we would recommend the Liberty Insurance Comprehensive policy. The base coverage includes: personal accident cover, accidental damage coverage, third party coverage, third party losses, theft coverage, fire related damage coverage, man made disaster coverage and natural disasters coverage. Further, this plan offers roadside assistance for up to 4 times within a policy term, making it the only plan to offer this. This provides security to any family member riding the bike.

Because this policy is one of the most expensive policies, we recommend this plan for families who aren't on a tight budget. For instance, we found its premiums to cost 64% more than the average comprehensive plan across all bikes and engine types.

Best for Safe Riders: ICICI Lombard Two Wheeler Comprehensive Insurance Plan

  • Consider if you are looking for the best comprehensive plan in India for cautious riders
  • Maximum NCB: 50%
BenefitCoverage
Personal Accident CoverageUp to Rs. 1,500,000
3rd Party Loss100%
3rd Party Liability100%
Damage or Loss to Your Bike100%
Emergency AssistanceRs. 199
Towing/Relocation ExpenseNo
Theft100%
The ICICI Lombard Two-Wheeler Insurance plan is a great option for safe riders. As a cautious rider, you may be eligible for discounts on your premiums under this plan if you qualify for the 50% No Claim Bonus (NCB). In addition to that discount, you can also get a 5% discount if you are a member of the Recognised Automobile Association (RAA) and an additional 2.5% discount if you have a ARAI registered theft device in your vehicle. These discounts are on top of an already competitive premium— we found that ICICI's Comprehensive plan costs between 42%-60% less across all the bikes we analysed.

Further, it offers riders with base coverage that includes personal accident coverage of up to Rs. 1,500,000, third party liability coverage, accidental damage coverage, third party losses, theft coverage, coverage for damage related to fire, coverage for man made disasters, and coverage for natural disasters. A related add-on that bike owners are given for a year is an NCB protector, which allows the NCB benefit to be available even if some claims are done throughout the policy period. This is especially useful, as accidents can happen even when you're taking all the necessary precautions. Once the first year is over, they can purchase the add-on for more NCB protection. Lastly, you can also choose to customise your policy with add-ons including zero depreciation cover and roadside assistance.

  • Consider if you are looking for the best comprehensive plan in India for cautious riders
  • Maximum NCB: 50%
_
BenefitCoverage
Personal Accident CoverageUp to Rs. 1,500,000
3rd Party Loss100%
3rd Party Liability100%
Damage or Loss to Your Bike100%
Emergency AssistanceRs. 199
Towing/Relocation ExpenseNo
Theft100%
The ICICI Lombard Two-Wheeler Insurance plan is a great option for safe riders. As a cautious rider, you may be eligible for discounts on your premiums under this plan if you qualify for the 50% No Claim Bonus (NCB). In addition to that discount, you can also get a 5% discount if you are a member of the Recognised Automobile Association (RAA) and an additional 2.5% discount if you have a ARAI registered theft device in your vehicle. These discounts are on top of an already competitive premium— we found that ICICI's Comprehensive plan costs between 42%-60% less across all the bikes we analysed.

Further, it offers riders with base coverage that includes personal accident coverage of up to Rs. 1,500,000, third party liability coverage, accidental damage coverage, third party losses, theft coverage, coverage for damage related to fire, coverage for man made disasters, and coverage for natural disasters. A related add-on that bike owners are given for a year is an NCB protector, which allows the NCB benefit to be available even if some claims are done throughout the policy period. This is especially useful, as accidents can happen even when you're taking all the necessary precautions. Once the first year is over, they can purchase the add-on for more NCB protection. Lastly, you can also choose to customise your policy with add-ons including zero depreciation cover and roadside assistance.

Best Third Party Two Wheeler Insurance: Edelweiss Supercharged

  • Consider if you are looking for the best comprehensive plan in India for third party liability coverage
  • Maximum NCB: 20%
BenefitCoverage
Personal Accident CoverageYes
3rd Party LossYes
3rd Party LiabilityYes
Damage or Loss to Your BikeYes
Emergency AssistanceNo
Towing/Relocation ExpenseNo
TheftNo
If you're looking for a Third Party plan that is both affordable and doesn't skimp on coverage, you should consider Edeilweiss Insurance's Supercharged plan. The Supercharged Third Party plan costs slightly less when compared to other third party policies offered in India.The base coverage includes typical Third Party coverage including personal accident coverage, third party liability coverage, accidental damage coverage, and third party losses.
  • Consider if you are looking for the best comprehensive plan in India for third party liability coverage
  • Maximum NCB: 20%
_
BenefitCoverage
Personal Accident CoverageYes
3rd Party LossYes
3rd Party LiabilityYes
Damage or Loss to Your BikeYes
Emergency AssistanceNo
Towing/Relocation ExpenseNo
TheftNo
If you're looking for a Third Party plan that is both affordable and doesn't skimp on coverage, you should consider Edeilweiss Insurance's Supercharged plan. The Supercharged Third Party plan costs slightly less when compared to other third party policies offered in India.The base coverage includes typical Third Party coverage including personal accident coverage, third party liability coverage, accidental damage coverage, and third party losses.

Best Two Wheeler Own Damage Plan: HDFC Ergo's Stand Alone Coverage

  • Consider if you're looking for the best own damage plan in India
  • Maximum NCB: 50%
BenefitCoverage
Personal Accident Coverage100%
3rd Party LossNo
3rd Party LiabilityNo
Damage or Loss to Your Bike100%
Emergency AssistanceNo
Towing/Relocation ExpenseNo
Theft100%
If you're looking for just an own damage plan to cover your vehicle alone and you're also not restricted by price, then your best choice is HDFC Ergo's Stand Alone Coverage. Though this insurance plan is 10% more expensive than the average cost of stand alone or own damage plans offered in India, it offers unique add-ons that are not typically found in own damage plans. For instance, it includes zero depreciation cover that will fully cover damaged parts without taking into consideration how much those parts depreciated. The insured rider saves money if he gets into an accident by having the insurance policy pay the full price of the damaged part. It also offers emergency assistance cover, which will let you call for assistance if your bike breaks down on the road or if you get into an accident.

Its base policy coverage includes personal accident cover, accidental damage coverage, theft coverage, and fire related or natural disaster related coverage. Unfortunately, the policy may not be the cheapest, HDFC Ergo Standalone Policy is a comprehensive own-damage option. Its unique add-ons can be especially helpful for those that travel often, justifying the additional cost for greater benefits.

  • Consider if you are looking for the best comprehensive plan in India for cautious riders
  • Maximum NCB: 50%
_
BenefitCoverage
Personal Accident CoverageUp to Rs. 1,500,000
3rd Party Loss100%
3rd Party Liability100%
Damage or Loss to Your Bike100%
Emergency AssistanceRs. 199
Towing/Relocation ExpenseNo
Theft100%
If you're looking for just an own damage plan to cover your vehicle alone and you're also not restricted by price, then your best choice is HDFC Ergo's Stand Alone Coverage. Though this insurance plan is 10% more expensive than the average cost of stand alone or own damage plans offered in India, it offers unique add-ons that are not typically found in own damage plans. For instance, it includes zero depreciation cover that will fully cover damaged parts without taking into consideration how much those parts depreciated. The insured rider saves money if he gets into an accident by having the insurance policy pay the full price of the damaged part. It also offers emergency assistance cover, which will let you call for assistance if your bike breaks down on the road or if you get into an accident.

Its base policy coverage includes personal accident cover, accidental damage coverage, theft coverage, and fire related or natural disaster related coverage. Unfortunately, the policy may not be the cheapest, HDFC Ergo Standalone Policy is a comprehensive own-damage option. Its unique add-ons can be especially helpful for those that travel often, justifying the additional cost for greater benefits.

Methodology

To find the best motorcycle plans in India, we analyzed 10 different insurers in 3 different cities across the country with a variety of engine cylinder capacities. We did our research on insurer premiums in Mumbai, New Delhi, and Bangalore. The engine cylinder capacities that we selected for our bikes are under 100cc, 100cc-200cc, 200cc-300cc, and 300cc-400cc. This helped us get a better understanding of which insurance plans were better for less and more powerful bikers. To calculate the premiums for bikes under 100cc, we used TVS XL Super. To calculate the premiums for bikes from 100cc-200cc, we used Hero Honda Splendor. To calculate the premiums for bikes under 200cc-300cc, we used Bajaj Pulsar 220F. To calculate the premiums for bikes from 300cc-400cc, we used Royal Enfield Classic 350. Other than just premium price, we also analysed the insurance policies by their coverage and benefits that they offered to better determine which policies fit with different driver profiles.

Two-Wheeler Insurance Providers in ValueChampion’s Study
Edeilweiss InsuranceLiberty InsuranceICICI Lombard InsuranceReliance InsuranceBharti AXA Insurance
HDFC Ergo InsuranceBajaj Allianz InsuranceKotak Mahindra InsuranceOriental InsuranceUnited India Insurance
Sahmi Chowdhury

Sahmi is a Junior Research Analyst specialising in credit cards and insurance in India. He previously worked in the financial services sector at Brown Brothers Harriman and True Capital Management.