National Two-Wheeler Insurance Premium Calculator

What is National Bike Insurance Premium Calculator?

A bike insurance premium calculator is an instrument that potential bike insurance policy buyers can use to calculate the premium amount on their two-wheeler insurance policy. To get the correct premium amount, the policyholders need to enter the following details:

• Bike's make and model
• The variant of the bike
• Year of purchase of the bike
• RTO location of the bike

Based on the specifications mentioned above, a bike insurance premium calculator will let the bike owners know the premium amount required. Thus it becomes easier for them to get an idea of the premium they need to pay to get the desired bike insurance policy. Furthermore, a bike insurance premium calculator allows the bike owner to compare the policies and premiums of different insurers.

How to Use the National Bike Insurance Premium Calculator?

The steps to use the bike insurance premium calculator of National Insurance is given below:

• Step 1: Select the make and model of your bike. Then, choose the bike variant and its fuel type.
• Step 2: Select the bike's city of registration and year of purchase.
• Step 3: Mention any claim request made in the last policy term or any no-claim bonus.
• Step 4: Click on the 'Calculate' button to find the IDV and premium for the bike insurance policy.

Benefits of National Bike Insurance Premium Calculator

There are multiple benefits of the bike insurance premium calculator of National Insurance company. It helps the bike owners to decide the best-suited policy as per their requirements. The benefits can be summarized as:

1. Time saver: Bike owners save time by using the premium calculator as it instantly brings forward the premium amounts for different insurance policies. In this way, you don't have to go through the manual process of visiting any branch, getting in touch with an expert and then knowing the premium details of your insurance policy.

2. Money saver: Bike insurance premium calculator lets the insurance seeker compare the various insurance plans and premium quotations of different insurance companies and choose the best premium plan and policy depending upon their requirements. This will help them find the most reasonable plan and prevent them from paying more for any other policy that doesn't suffice their needs.

3. IDV: Bike insurance premium calculator allows the bike owner to ascertain the IDV of the bike that is to be insured.  The Insured Declared Value reflects the correct market value of the bike.

4. No external influence: Since the premium is calculated online, there is no scope of manipulation of the bike owner's decision by insurance agents or any other person.

Third-Party Bike Insurance Premium Rates

            ( for reference purpose only)

Premium for Comprehensive and Standalone Own-Damage Bike Insurance Plan

The premium for a comprehensive and standalone own-damage bike insurance plan depends upon several factors, including bike's make, bike's variant, bike's fuel type, engine capacity, location of bike's registration, etc.

Therefore, bike owners should be well aware of these factors to ensure purchasing the right bike insurance plan. Moreover, the premium rates for the comprehensive and standalone own-damage insurance plans would differ for every customer depending on the various add-ons chosen. And all this can be determined using an online premium calculator.

Factors Affecting Bike Insurance Premium

1. Fuel type: Two-wheelers that run on CNG have a higher premium value than the two-wheelers that run on diesel or petrol. It is because they need higher maintenance. Therefore, if your two-wheeler runs on CNG, you will have to pay a higher premium.

2. Insured Declared Value: The IDV is the maximum amount that an insurer pays to the insured in case the bike gets stolen, or the owner faces a constructive total loss. Higher the IDV, the higher the amount the bike owner will receive in case of any such eventuality. A higher IDV will result in a higher premium.

3. Anti-theft devices: If anti-theft devices are installed on the bike, the probability of the bike getting stolen decreases. Thus the liability of the insurer also decreases. The premium amount to be paid in such cases is less.

4. No-claim bonus: The insurer rewards every no-claim year with a bonus to the insured. A higher value of NCB would mean a lower premium.

5. Add-ons: Add-ons are additional policy covers which further increase the value of the premium.