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.Read more
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:
- Specify the details of the bike, such as its model, and make fuel type and variant
- Mention the bike’s Registered Location
- Select the bike’s year of purchase
- Mention if you made a bike insurance claim in the past and submits the details
- The Insured Declared Value (IDV) will be shown after a click on the CALCULATE button
- You will also be able to see the premium for different two wheeler 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 bike insurance 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.
Explore Sbi General Bike Insurance
There are several benefits of using a bike insurance premium calculator:
- One may choose the best-suited bike insurance plan within their budget
- There are various bike insurance plans to choose from
- One can compare various bike insurance plans, their features and benefits
An individual can find the SBI General Premium Bike Calculator either from the official website of SBI General Insurance Company or on the Policybazaar’s website.
The SBI General Bike Insurance Premium Calculator tool is available free for its customers to use online.
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SBI General 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