Universal Sompo Bike Insurance Premium Calculator

A bike insurance premium calculator is an online digital calculator that helps you find out your policy premium in a matter of few seconds. By using premium calculators, you can know and analyze the details and quotes of the premium amount for different bike insurance plans.

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Universal Sompo bike insurance premium calculator makes it easier to calculate the premium by entering details bike details like the make, model, date of purchase, type of fuel, and variant. This tool helps in comparing the policies and choosing the right one that suits your requirements.

How to use a Universal Sompo Bike Insurance Premium Calculator?

The Universal Sompo bike Insurance Premium calculator is easy to access and can be used without any complications.   The steps involved in using the calculator are given below:

Step 1: On the Premium calculator, choose the details of the two-wheeler like the make, variant, fuel type, etc.

Step 2: On the other side tab, select the registration date and year of the two-wheeler

Step 3:  A question will appear to confirm if the claim was made in the previous year. Press yes or no to the question

Step 4: Click on the calculate button below. Details of IDV and premium amounts will appear quickly

Benefits of Universal Sompo Bike Insurance Premium Calculator

Universal Sompo bike insurance premium calculator comes with various benefits:

1. Easy Calculation

A two wheeler insurance premium calculator makes the process of finding the right Insurance policy easier and simple through an online tool. Instead of going through a hectic offline process, you can calculate the premium effortlessly online using this tool.

2. Choosing the Right Policy

It can get confusing to find appropriate insurance for a two-wheeler. Insurance Premium calculator simply allows this process. You can fill in the bike's details and get a range of IDV and premium amounts from several insurers.

3. Choosing the Right IDV

You can calculate the right Insured Declared Value or the IDV by using this calculator. It is the amount decided by the insurer for claim settlement after deducting the cost of the vehicle's depreciation. IDVs differ from one insurer to another. Selecting the IDVs from the right insurer will help you get a better amount at the time of claim settlement. 

4. Avoids Confusion

Choosing insurance through agents can get confusing at times. This is because there are so many options with several benefits available. Insurance premium calculator can make this process easy by giving ample options and quotes for premium amounts. This will lead to making no mistakes and choosing the right two-wheeler insurance plan.

Universal Sompo Third-Party Bike Insurance Premium Rates

The premium rates for third-party insurance are quite low. It is the basic and mandatory bike Insurance for any rider. This type of two-wheeler insurance comes with some benefits, which are limited to providing financial help to cover third-party liabilities and damages caused by the insured two-wheeler.

It doesn’t come with any add-on covers or extra benefits. For this reason the premium rates are quite low and affordable. You can also check the policy premium rates by using the Universal Sompo bike insurance premium calculator online.

Premium for Comprehensive and Standalone Own-Damage Bike Insurance Plans

The premium rates for the Comprehensive bike insurance policy and the standalone own-damage bike insurance policy are different due to their benefits.

Comprehensive premium rates provide maximum support and financial aid during a claim. Standalone damage comes with coverage of the insurer's damage and loss.

The premium rates of these policies can be calculated through the insurance premium calculator by entering the two-wheeler’s IDV, Age, CC or cubic capacity, etc.

Factors affecting Two-wheeler Bike Insurance Premium

Some of the major factors that determine the premium of bike insurance are,

  • The cubic capacity or the CC of a bike decides the premium amount of an insurance policy. Higher the CC, the more the premium rate.
  • Insured Declared Value or the IDV is the amount provided by the insurer for claim settlement during an unfortunate accident. The functionality and quality of the bike decide the IDV. Therefore a good-conditioned bike will acquire less premium amount.  
  • Anti-theft devices assured by ARAI will bring in less premium amounts. Anti-theft benefits can be added along with the Insurance plan as an add-on cover. Better protection will cause a low premium amount.
  • If extra add-on covers are bought along with the insurance plan, the benefits will increase during the claim proceedings. Even though the premium will be high, the coverage will be worth the amount.

FAQs

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Average Rating
(Based on 9 Reviews)

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Universal Sompo Bike Insurance Premium Calculator Reviews & Ratings

4.7 / 5 (Based on 9 Reviews)
(Showing Newest 9 reviews)
P
Bhiwandi, October 09, 2021
Reasonable rate
I talked to a friend of mine regarding bike insurance. He suggested me Policybazaar. When I went to the policybazaar, an executive showed me several plans. According to my budget, I chose Universal Sompo Two Wheeler Insurance. I got high coverage at a reasonable rate.
Prakhar
Saharanpur, October 09, 2021
Easy to compare
I got excellent customer service from beginning to end of the process. After comparing the plans in Policybazaar I took the Universal Sompo bike plan. I got all the features I wanted in my plan. The service was up to the mark and the entire team was very helpful.
Rimzhim
Gorakhpur, October 09, 2021
Hassle free process
After comparing multiple bike plans on the website of Policybazaar, I decided to choose Universal Sompo two wheeler insurance as it was providing me with fascinating features. The process I went through was hassle free and so simple. I am completely satisfied with my plan.
Ritish
Guntur, October 09, 2021
Financial support
I have got financial assistance in my time of need. When my bike got damaged due to a minor accident, i took the help of Policybazaar to raise the claim request. Within a few days my claim was approved. My Universal Sompo bike policy eased my financial stress.
Shrestha
Howrah, August 18, 2021
Found convenient
I have recently got University sompo two wheeler policy from the policy bazaar.i am glad to be a customer of policy bazaar. they are giving so much benefits under the same. like 24*7 roadside repair assistance,emergency fuel delivery,repair on the spot and many more.
Ashish
Jaipur, June 04, 2021
All time support
I had bought a universal sompo two wheeler insurance policy from the website of the policybazaar. I am happy that the plan is and up to my mark I have taken this plan 2 years back and has been continuing it with same.
Mudit
Hardoi, June 04, 2021
Towing facility
In my Universal sompo two wheeler insurance plan I had got towing facilities. It is a nice plan and I really like the plan. It is available in my plan. Thank you policybazaar.
Pratul
Moradabad, June 04, 2021
Low premium prices
I am quite happy and convinced with the services of the policybazaar and they provided me low premium rates. I had a Universal sompo plan. Good work team.
Yogesh
Udaipur, May 17, 2016
Awesome
Universal sompo two wheeler insurance is nice with low premiums. The policy coverage is high ~87% and the policy claims are even better. The service facilitate by the executives and staff is really very fast by which claiming procedure get easy. The tow facility is inbuilt in the policy and huge number of garages are there for all time assistance.

^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