Liberty Bike Insurance Premium Calculator
Liberty Bike Insurance Premium Calculator is an online tool that helps you calculate premiums for your bike insurance plans. You can have an estimate of your policy premiums, check against other providers, and accordingly choose the best one for yourself. You can use the Liberty bike insurance premium calculator at the time of purhcase and renewal.Read more
How to Use Liberty Two-Wheeler Insurance Premium Calculator?
The steps to use the Liberty bike insurance premium calculator are simple and are given below:
- Go to the official website of Policybazaar.com
- Enter the details of your bike. The details will include the manufacturer, model, version, and fuel choice.
- In the next step, you have to enter the registration details of the bike. This will include the year of purchase and registration. Furthermore, the Liberty Bike Insurance Premium Calculator will also ask the city of registration.
- You have to then select if you had filed any claims in the previous years when the policy was valid.
- On clicking the ‘Calculate’ button, you can find the exact premium payable.
Benefits of Two-Wheeler Insurance Premium Calculator
Liberty bike insurance premium calculator provides the following benefits:
- Correct IDV- You can always get the correct Insured Declared Value (IDV). Since the calculator takes in so many different parameters, it is generally very accurate.
- Save on the Premiums- Because of the same factors as mentioned before, the accuracy for premiums is also great. It is the primary deciding before buying a policy.
- Easy Comparison- You can easily compare with other policies and see if the Liberty bike insurance policyis the best for you
Third-Party Two-Wheeler Insurance Premium Rates
The third-party two-wheeler insurance premium rates, as given by the Insurance Regulatory and Development Authority of India (IRDAI), are given below:
- <75cc Engine:
- Five Yearly Policy Premium: INR 1,045
- Annual Renewal: INR 482
- 75cc - <150cc Engine:
- Five Yearly Policy Premium: INR 3,285
- Annual Renewal: INR 752
- 150cc - <350cc Engine:
- Five Yearly Policy Premium: INR 5,453
- Annual Renewal: INR 1,193
- >350cc Engine:
- Five Yearly Policy Premium: INR 13,034
- Annual Renewal: INR 2,323
The premium for Comprehensive and Standalone Own-Damage Bike Insurance Plans
Various factors determine premiums that are taken into account by two wheeler insurance premium calculator. For example, two different persons may own the same bike. Therefore, the manufacturer, model, version might be the same. However, if the fuel type is different, the premium will be different.
Furthermore, even if the fuel type is the same, the city of registration might be different. That will also influence the premiums. Hence, it is always better to understand these factors in detail, even if the calculator can do the work in the background. And because of such factors, the premium rates for comprehensive and standalone own-damage bike insurance plans differ from customer to customer.
Factors Affecting Two-Wheeler Insurance Premium
The various factors that are considered when calculating premiums are given below:
- Manufacturer: The reputation, reliability, and network of the manufacturer make a lot of difference. Some examples of prominent manufacturers are TVS, Honda, Hero, and Bajaj.
- Models, Versions, Engine Capacity, and Fuel Type: Engines vary from model to model. As a thumb rule, with all other factors remaining constant, higher engine capacity means higher premiums.
- Registration Location: Based on the registration location, there might be higher instances of accidents. Or there may be fewer service garages. All of these factors affect the premium.
- Add-on Benefits: You can opt for added benefits with every bike insurance, such as zero depreciation and third-party cover. Add-ons mean enhanced coverage at a higher premium.
Explore Liberty Bike Insurance
Premiums increase with any modification that interferes with the original safety features as provided by the manufacturer.
Yes, anti-theft devices can reduce the risk of theft. Hence, the cost of the premium is also lower.
Yes, Liberty General Insurance Company has an online bike insuranceclaim process that is entirely seamless.
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Liberty Bike Insurance Premium Calculator Reviews & Ratings
^The renewal of insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for a transaction may vary subject to additional data requirements and operational processes.
^The buying of Insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for transaction may vary subject to additional data requirements and operational processes.
#Savings are based on the comparison between highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.
*TP price for less than 75 CC two-wheelers. All savings are provided by insurers as per IRDAI-approved insurance plan. Standard T&C apply.
*Rs 538/- per annum is the price for third party motor insurance for two wheelers of not more than 75cc (non-commercial and non-electric)
#Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.
*₹ 1.5 is the Comprehensive premium for a 2015 TVS XL Super 70cc, MH02(Mumbai) RTO with an IDV of ₹5,895 and NCB at 50%.
*Rs 457/- per annum (1.3/day) is the price for the third-party motor insurance for private electric two-wheelers of not more than 3KW (non-commercial). Premium is payable on an annual basis