Kotak Mahindra Bike Insurance Premium Calculator
Kotak Mahindra Bike Insurance Premium Calculator is an online tool that helps interested individuals and policyholders calculate the premium amount for the policy chosen. The calculator is available on the company website. However, it may not show the exact amount for two individuals willing to buy the same insurance for the same model of the two-wheeler.Read more
How to Use the Kotak Mahindra Bike Insurance Premium Calculator?
The Kotak Mahindra Bike Insurance Premium Calculator is available online on the company website and it is very easy to use. You can also use an online premium calculator on the Policybazaar Insurance Brokers Private Limited website. The premium calculator asks for the bike registration number and bike model number from the registered candidates. Then it asks for further details about the health of the bike based on its purchase date and other details. These factors are used to assess the premium amount required to be paid annually based on the type of insurance chosen.
Benefits of Kotak Mahindra Bike Insurance Premium Calculator
Kotak Mahindra Bike Insurance Premium Calculator helps policyholders in various aspects, as put forth below:
1. Helps to make a better choice: The premium calculator helps compare various other available bike insurance in terms of premiums, discounts, and investment amount. It helps the applicant to understand and choose the right two-wheeler insurance, which will be feasible for their budget and finances for the period required.
2. Calculate exact premiums: Kotak Mahindra bike insurance premium calculator helps to calculate the exact premium amount based on the age, location, income, gender of buyers and the model, deductibles, add-on covers, and other facilities opted for the insurance. Therefore, the applicant will get customized information in terms of the amount of premium to be paid.
3. Calculate Insured Declared Value (IDV): The calculator also helps calculate the IDV value, which identifies the sum assured that can be claimed from the insurer in case of loss or damage to the vehicle.
Factors Affecting Two-Wheeler Insurance Premium
The following factors affect the calculation of the premium amount for two-wheeler insurance policies:
Engine's cubic capacity:The cost of premium increases with the increase in the engine's cubic capacity.
No-claim bonus:The policy would offer around 20% to 50% bonuses if no claim is processed by the insured individuals for extended policy years as applicable.
Insured Declared Value(IDV):The amount of premium increases with the increased IDV value of the bike.
Number of add-ons:The purchase of various add-ons such as roadside assistance, zero-depreciation cover, etc., with the actual policy will increase the amount of premium.
Anti-theft devices:Installing an anti-theft device with the bike will reduce the premiums to be paid.
Why Does the Premium for Comprehensive Bike Insurance Differ from Customer to Customer?
For efficient estimation of the premium amount, the Kotak Mahindra Bike Insurance Premium Calculator considers various factors such as the bike's model, variant, fuel type, area of registration, cubic capacity, and others. Therefore, the two persons having the same bike of the same model and purchase date would require paying different premiums as per the factors mentioned above, past usage behaviors, and others. In that context, the premiums for a comprehensive and standalone own-damage bike insurance policy that Kotak Mahindra offers vary for individual policyholders.
The interested individuals are required to provide the following details to calculate the premium online:
- Bike Model Name
- Registration ID of the bike
- Registration date of the bike
- RTO location of the bike
- Financial information as required
Q2. Is Kotak Mahindra Bike Insurance Premium Calculator useful for calculating premiums for old and used bikes also?
Yes, the Kotak Mahindra Bike Insurance Premium Calculator estimates the premium amount for both new and old bikes.
Q3. Does Kotak Mahindra Bike Insurance Premium Calculator show the premium amount for insurance policies provided by different insurers?
The interested individuals can calculate the premium amount by providing necessary details about the vehicle model, personal information, and financial information as required. They are not required to select any specific insurance policy. Therefore, they can calculate and assess the amount of the premium for any two-wheeler policy as applicable.
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