Navi Bike Insurance Premium Calculator

Benefits of the Navi Bike Insurance Premium Calculator

Navi Bike insurance premium calculator allows the user to have certain benefits as follows:

• Insured Declared Value (IDV)- By adding the model and make of the bike, its fuel type, variant, and age of the bike into a bike insurance premium calculator, you can quickly get the exact IDV. With the appropriate IDV, you can figure out how much sum insured you can get from your insurance provider in the event of a theft.
• Correct Premium Amount-The main goal of the premium calculator is to provide you with the correct premium amount for your bike insurance policy. It assists you in selecting a bike insurance plan that offers maximum protection as per your requirement.
• Improves Decision Making- The premium calculator informs you about the current market values of the bike as well as the various insurance companies' premium rates. With the IDVs and premium costs of several bike insurance plans, you will be able to make an informed decision.
• Choosing Premium as per your Pocket- You can use the premium calculator to compare the premium with and without add-on covers. It can help you understand the difference in premium and the correct IDV. Thus, it makes it easier to choose a relevant and cost-effective bike insurance policy.  

How to Calculate Two-Wheeler Insurance Premiums?

Step 1: Enter the bike's variant, make, model, and fuel type

Step 2: Fill in the year of purchase and bike's registered address

Step 3: Then the calculator will ask if you have filed a claim in the past years of the policy. Fill in accordingly 

Step 4: To calculate the right IDV and premium amount for bike insurance plans, click the 'Calculate' option

Two-Wheeler Third-Party Insurance Premium Rates

Source: Insurance Regulatory and Development Authority of India (IRDAI))

Premium for Comprehensive and Standalone Bike Insurance Plans

The difference between the premiums for standalone and comprehensive bike insurance plans is determined by several factors, including the bike's model, and variant, fuel type, age, and engine capacity, registration place, etc. You can use a premium calculator to obtain fast premium results for various bike insurance policies.

Factors That Determine Two-Wheeler Insurance Premium

• Cubic capacity of the engine:The cubic capacity of a motorcycle's engine impacts its power. As a result, the bike with a larger cubic capacity will produce more power, but it will also increase the chance of accidents, putting the insurance at risk.
• IDV or Insured Declared Value:The amount that insurers must pay to the policyholders is known as the Insured Declared Value (IDV). However, as the value of the bike depreciates over time, so does the IDV. As a result, the lower the IDV of the motorcycle, the smaller the premium will be.
• Add-on coverage:Add-on coverage is used to extend the policy's coverage. They can be obtained by paying a small additional premium on top of the usual charge.
• Bike modifications:Adding modifications to a bike improves its performance and security. However, it raises the vehicle's worth, requiring the insured to pay more premium for getting adequate protection.

• Anti-theft gadgets:Anti-theft devices provide additional security for the bike. It significantly decreases the danger of insurers having to compensate policyholders. Hence, premium amounts are also low.