SBI General Bike Insurance Premium Calculator

SBI General Bike insurance premium calculator is an online tool that helps you to calculate the premium for an SBI Two-wheeler insurance policy. You can obtain your bike insurance premium amount by entering a few details, such as your bike's model, year of purchase, city of registration, etc.

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How to use the SBI General Two-Wheeler Insurance Premium Calculator?

The method of calculating the premium for two-wheeler insurance is different from one insurer to the other. You can use the SBI bike insurance premium calculator to fill a form regarding the details of their bike, like its model, year of purchase, registered location, and more.

Follow the steps given below while calculating premium using an SBI General Bike insurance premium calculator:

  1. Specify the details of the bike, such as its model, and make fuel type and variant
  2. Mention the bike’s Registered Location
  3. Select the bike’s year of purchase
  4. Mention if you made a bike insurance claim in the past and submits the details
  5. The Insured Declared Value (IDV) will be shown after a click on the CALCULATE button
  6. You will also be able to see the premium for different bike insurance plans

Benefits of using SBI General Two-Wheeler Insurance Premium Calculator

The benefits of using a two-wheeler insurance premium calculator are following-

  • Select the perfect premium plan for the bike – Online bike insurance premium calculator shows the premium quotes for several bike insurance plans. You can easily compare and choose the plan that works best for you in terms of the budget and coverage.
  • Ideal Insured Declared Value (IDV) –A right IDV is essential to claim the right claim amount for the vehicle. The right IDV is obtained from all the bike details you have entered, like your bike's model, variant, purchase year, city of registration, etc.
  • The Decision about plans becomes easy – Using the premium calculator, you get to know the current market price of their bikes and the premiums offered by the Insurer.

Third-Party Two-Wheeler Insurance Premium Rates

Third-Party Two-Wheeler Insurance Premium Rates are given in the table below. However, you can use the third-party two-wheeler insurance premium calculator to calculate the premiums:

 

Engine Capacity of the Bike

Third Party Bike Insurance Premium

Under 75 cc

Rs. 1,045 approx.

Exceeding 75 cc but not 150 cc

Rs. 3,285 approx.

Exceeding 150 cc but not 350 cc

Rs. 5,453 approx.

Exceeding 350 cc

Rs. 13,034 approx.

Premium for Comprehensive and Standalone Own-Damage Bike Insurance Plans

Standalone Own-Damage Insurance for a bike is a type of bike insurance that covers the insured bike only. The coverage is not provided to the third party person, vehicle or property. This type of insurance plan will cover all damages and losses incurred due to bike accident, theft, fire, etc.

In some bike insurance plans, the insurance given will cover the policyholder's bike and the third party's person or vehicle for the damages and losses incurred.

Factors affecting Two-Wheeler Insurance Premium

Following are the factors that affect the insurance premium of your two-wheeler vehicle-

  • Modifications – Modifications are made to the bike by some people to enhance its performance and make it look more attractive. But sometimes, it is disguised as a danger to the bike and the person as well. Any mistake can occur while installing the vehicle's modifications, making it unsafe to drive on the road. This increases the chances of accidents and also the premium amount.
  • Insured Declared Value (IDV) –IDV is the total sum provided at the time of the claim. The IDV is higher when an individual’s bike functions highly. Therefore, a higher premium amount is required to pay to get insurance.
  • Anti-theft devices – Anti-theft devices also play an important role in deciding the premium for bike insurance. Anti-theft devices installed in the bike increase its security level, which reduces the risk of offering compensation to the insured's bike.

FAQs

Written By: PolicyBazaar - Updated: 16 October 2021

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