ICICI Lombard Bike Insurance Premium Calculator

How to Use the ICICI Lombard Bike Insurance Premium Calculator?

With the help of the following steps, you can use the bike insurance calculator online available at Policybazaar.com:

• Step 1: Visit the official website of Policybazaar Insurance Brokers Private Limited.
• Step 2: Choose 'Bike Insurance Calculator' from the 'Insurance Products' drop-down menu at the top of the page.
• Step 3: Select your bike's make, model, and variant from the available options.
• Step 4: Enter the ex-showroom price of the bike, along with the city of registration and the year of purchase.
• Step 5: Indicate whether you have made any claims in the previous year.
• Step 6: Click the 'Calculate' button to find your bike model's estimated bike insurance premium.

Benefits of ICICI Lombard Bike Insurance Calculator

Finding the premium amount for your two wheeler insurance online is quite convenient and offers several advantages:

• Effortless to Use: The bike insurance calculator is user-friendly. To find your bike, it only requires basic information about it, such as its make, model, variant, year of registration, and city of registration. Therefore, you do not need advanced financial knowledge to get the desired result.
• Tailor Your Requirements: You can customize your own-damage or comprehensive bike insurance by selecting add-ons that suit your specific requirements. Therefore, a calculator helps you know the premium amount for the chosen add-ons.
• Informed Decision-Making: The calculator helps you find the upfront premium cost, which will help you make informed decisions about purchasing a bike insurance policy.

4 Factors Affecting the Bike Insurance Premium

IRDA determines the premium of the third-party bike insurance. The comprehensive bike insurance premium depends upon several factors discussed below:

1. Engine Capacity: The cubic capacity (CC) of your bike's engine is a significant factor in determining the premium. Higher CC engines typically attract higher premiums.
2. Make and Model: Your bike's brand, model, and variant also affect the premium cost. High-end models usually have higher bike insurance premiums.
3. Age of the Bike: Older bikes generally have lower premiums as the depreciation is applied.
4. Add-on Covers: A bike insurance policy offers additional coverage options, known as add-ons, to enhance your policy by providing extra protection for a small premium. ICICI Lombard bike insurance policy offers various add-ons, such as zero-depreciation cover, roadside assistance cover, NCB protection cover, etc.

FAQs About ICICI Lombard Bike Insurance Premium Calculator