Bajaj Allianz Bike Insurance Premium Calculator
A Bike Insurance Premium Calculator is a handy online mode that is designed to help prospective policyholders to compute the amount of premium to be paid for a two-wheeler insurance policy.
Why You Should Use Bajaj Allianz Bike Insurance Premium Calculator
Bajaj Allianz Bike Insurance Premium Calculator gives a rough estimation on how much premium to be paif towards two wheeler insurance. It is an online simulation tool that comprises boxes which need to be input with details of the two-wheeler. Based on the specifications input in the boxes, the calculator’s output is the premium amount that one needs to pay to buy a bike insurance policy from an insurance company.
How to Use Bajaj Two Wheeler Insurance Premium Calculator?
Using Bajaj Allianz Bike Insurance Premium Calculator is very simple. Make sure you have the right documents with you and follow these steps:
- Step 1: Select the two wheeler’s model and make.
- Step 2: Select the registered location of the two-wheeler.
- Step 3: Select the year of purchase of the two-wheeler.
- Step 4: Whether No-claim Bonus (NCB) was claimed in the preceding year.
- Step 5: Select the add-ons available when purchasing a comprehensive insurance plan
Once the above details are provided, the calculator will display the premium amount for a two-wheeler insurance plan.
Benefits of Bajaj Allianz Two Wheeler Insurance Premium Calculator
Bajaj Allianz Bike Insurance Premium Calculator is a valuable online mode for premium calculation. It helps to choose the suitable bike insurance policy and save time by providing instant and exact results. It provides the following benefits to the two-wheeler owner:
- Hassle Free & Quick: It helps to calculate the insurance premium and the most appropriate insurance cover for a bike. The process of providing requisite bike details on the insurer’s website and receiving a premium quotation is quick and hassle free.
- Informed Decision Making: The bike insurance premium calculator provides a two-wheeler owner with various options to evaluate with respect to insurance plans, premium amount, add-ons, etc. and enables the owner to make an informed decision. This way, one gets to select an affordable premium according to one’s budget and also comply as per the extant rules and regulations.
- Avoid a Third-party: By making use of the two-wheeler insurance premium calculator, one may avoid middlemen and additional costs as the estimates are directly fetched from the company.
- Estimating the IDV: An insurance premium calculator helps one determine the insured declared value or IDV and its resultant impact on the premium amount. IDV is the approximate value of the two wheeler that the insurance company pays for in the event of a complete damage of the two-wheeler. However, this option is available only when one purchases a comprehensive two-wheeler insurance
- Choosing the Appropriate Add-ons: Purchasing the apt add-on enhances both the coverage and the scope of the events to be covered by a two wheeler insurance policy. It enables the bike owner to select the right combination of add-ons.
- Planning: The premium amount helps an individual to plan one’s expenses and funding in the month of premium payment. In other words, the bike insurance premium calculator is a helpful tool in financial planning.
Third Party Two-Wheeler Insurance Premium Rates
To determine the premium of a Third Party Insurance the Bajaj Allianz Bike Insurance Premium Calculator requires only details which indicate the cubic capacity (cc) of the engine and the premiums are predetermined by the IRDAI. The premium amount differs for cars with engine capacity within 1000 cc, those exceeding 1000 cc but not exceeding 1500 cc and for those exceeding 1500 cc.
Premium for Comprehensive and Standalone Own-Damage Bike Insurance Plans
The premium for comprehensive and standalone own-damage bike insurance is provided by the insurance companies. It varies depending upon the specifications of the two-wheeler. There are three main factors that are considered while computing the insurance premium of a comprehensive and standalone own-damage bike insurance policy - IDV, cubic capacity and the age of the two-wheeler. Bajaj Allianz Bike Insurance Premium Calculator helps to compute the premium amount.
Factors Affecting Two-Wheeler Insurance Premium
The following factors have an important role to play in determining the insurance premium amount of a two-wheeler:
- Make and Model
- Age of the bike
- Insured Declared Value (IDV)
- Engine Capacity
- Anti-theft Devices
- No Claim Bonus (NCB)
Ans: The two wheeler insurance premium calculator can be accessed on the insurer or Policybazaar’s website under the two-wheeler bike insurance category.
Ans: It is important to input the correct date of purchase of the bike, as the premium amounts differ based on the age of the bike. The insurance company also views a new insurance purchase and a renewal case separately.