Reliance Bike Insurance Premium Calculator
The Reliance Bike Insurance Premium Calculator is an online tool that helps you calculate your 2-wheeler insurance premiums instantly.and makes it simple for the customers to make an informed choice.
How to Use Reliance Two-Wheeler Insurance Premium Calculator?
Reliance bike insurance premium calculator can be used with these simple steps:
- Enter two-wheeler registration number
- Enter your email ID
- Provide the two-wheeler’s make, model, and variant
- Enter your phone number
- Click to accept the terms and conditions and click “Check Premium” to generate the quote for the Reliance bike insurance premium calculator
- You can also tick on the past claim status, and then click on the “Calculate” button to generate and display the premium estimates from various insurers alongside the coverage IDV
Benefits of Two-Wheeler Insurance Premium Calculator
The primary purpose of the Reliance bike insurance premium calculator is to get an estimate of the policy’s premium. The customer can enlarge the scope for a broader canvas with the aggregator’s bike insurance calculator. Accordingly, the significant benefits accrued for using the online premium calculator are:
- Make the Right Choice: Compare the various estimates quoted by different insurers based on the input to compare and choose the best suited.
- Find the perfect IDV: The generated outcome also mentions the estimated IDV cover for the quoted premium. The customer can safely choose the best offer to assure of the value to receive upon total loss.
Third-Party Two-Wheeler Insurance Premium Rates
The IRDAI standardizes the premium rates for the compulsory third-party insurance as given in the table below:
Engine Capacity | The Premium for New 5-year Plan (Rs) | The Premium for 1-year Renewal Plan (Rs) |
Below 75 CC | 1045 | 482 |
Over 75 CC but below 150 CC | 3285 | 752 |
Over 150 CC but below 350 CC | 5453 | 1193 |
Over 350 CC | 13034 | 2323 |
Source: IRDAI
Factors Affecting Two-Wheeler Insurance Premium
Some of the factors affecting the bike insurance premium rates are given below:
- Insured Declared Value (IDV):The value denotes the insured two-wheelers market price, and the amount is paid in accordance to the IDV to the policyholder at the time of claim settlement or total loss.
- Engine Capacity:As it has a direct impact on the two-wheeler’s performance, the risk goes up with a higher Engine Capacity. Accordingly, the premium also increases.
- Anti-Theft Devices: Insured two-wheelers with such devices reduce the risk of theft or burglary, thus inviting a lower premium.
- No-Claim Bonus:It is recognition for the driver sticking to safe driving norms. With every claim-free year, the policyholder is benefited from a lower renewal premium. NCB generally ranges from 20% to 50% for subsequent claim-free years.
FAQs
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Q1. How does the RTO location impact the Reliance Bike insurance premium calculator results?
The driving hazards in Metropolises are higher in comparison to smaller cities. Thus, the premium charged to car owners in metropolitan cities is slightly higher in comparison to smaller cities.
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Q2. Does the age of the policyholder affect the Reliance bike insurance premiums?
As older and experienced riders are less prone to meet with accidents, they are charged a lower premium in comparison to the young drivers.
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Q3. Can the Reliance bike insurance premium calculator be used to estimate the premium for old vehicles?
Yes, the online two-wheeler insurance calculator can be used for both old and the new two-wheelers.
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^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