Compare a range of bike insurance policies offered by renowned two wheeler insurance companies in India. Using bike insurance premium calculator, you can choose the best two-wheeler insurance policy, based on a comparison of various insurance parameters.
Calculate bike insurance premium calculator instantly
Have you purchased your recent bike insurance online? If yes, then are you considering calculating your bike insurance premium online? Well, it is possible with Bike Insurance Calculator. Use a two wheeler insurance premium calculator online and save maximum on your annual premium!
Online Bike Insurance Calculator Benefits
Online insurance for your two-wheeler is the best option as you don’t require a middleman
When you are investing a huge amount on your vehicle, you must know how to calculate your premium online. Thanks to financial experts, we have an online premium calculator for estimating your annual premium. Termed as Bike Insurance Calculator, it is an online tool, which makes your buying experience more convenient.
Advantages of Bike Insurance Calculator
The benefits of Bike Insurance Calculator include the following:
By using Two Wheeler Insurance Calculator online before buying an insurance plan for your bike, you can proceed with all the information that you need.
By comparing various insurance quotes online through a bike insurance calculator, you can avail the best deal according to your requirement.
You can check for yourself how the changes in variables of coverage influence your vehicle premium, with the help of a bike insurance calculator
You don’t need to rush into taking a decision. With online two-wheeler insurance calculator, you’ll have enough time to take the right decision, without any haste or under the influence of an insurance agent.
What is Bike Insurance Premium?
The bike insurance premium is a defined as an amount of money an insured requires to pay periodically to an insurer to avail the benefits under his bike insurance policy. By using bike insurance calculator,you can calculate your two-wheeler premium rate, depending on your insurance requirement.
How to Use Bike Insurance Calculator- Tips
While buying an insurance plan, ensure you use an online bike premium insurance calculator. It helps you evaluate your need and provides you with the best available insurance options. It is easy to use a bike insurance calculator. You just need to provide some valid information about the vehicle you own. You will find plenty of calculators online, which you can use for free. Simply fill in the required information about your bike. For instance-
IDV of the bike
Cubic capacity of your vehicle
Age of the vehicle
In detail, IDV is the cost that you will receive from your insurer in the event of any damage, theft etc. The insurer calculates it by applying the depreciated rate from showroom’s listed price and it doesn’t cover insurance cost and registration. You can also calculate this amount online and pay it by using credit/debit card or via NEFT.
Factors that Decide Your Bike Insurance Premium
There is no doubt that bike insurance is a must for every two-wheeler owner. After the third-party insurance was made mandatory by Motor Vehicle Act, calculating your annual premium by using a Two Wheeler third party insurance premium calculator became possible.
Third-party insurance provides assistance for legal liabilities that may arise out of loss or damages caused to the third party. Again, your bike insurance should also cover natural damages, man-made damages or accidental cover. Hence, there is no better way than insurance to assure financial assistance, when you need to take your bike to the garage and avail the cashless benefit. However, every good thing comes with a price. You’ll have to pay a lump sum amount to avail all the benefits linked to your plan. This is called premium and every insurance plan has a different set of premium rates, which can be calculated based on certain factors. Bike insurance is no exception.
The premium you are going to pay for your bike insurance differs from bike to bike or owner to owner. You may consider the below-mentioned factors that influence the premium a lot while it is being decided. Here we go:
Model of Your Bike
The premium you pay is decided based on the Insured Declared Value, which is alternatively known as ‘market value’ of your vehicle. Hereby, with an expensive bike like Harley Davidson or Royal Enfield Bullet, you’ll end up paying a higher premium. In case of car premium, fuel type also decides the rate of premium, as for diesel vehicles the premium is comparatively higher than the cars that run on petrol.
The deductible is a part of an insurance claim that you have decided to pay yourself. The insurer pays the rest of the amount. The higher you pay as deductible, the lower the insurance premium will be or vice versa. At the time of buying a plan, if you decide to pay more out of your wallet, the insurer will offer a certain discount on the premium.
No Claim Bonus
You are entitled to obtain a No Claim Bonus for every claim free year. It is a discount on your premium ranging from 20% in the first year to 50% in the sixth year. So it is advisable not to claim your insurance for minor damages.
Zero Depreciation Cover
By applying for add-on covers like zero depreciation cover, cashless hospitalisation cover, personal accidental cover or medical cover, you can notice a slight increase in your premium. So, we suggest not opting for the unnecessary ones and choosing the one you actually need. For instance, you can choose a zero depreciation plan over personal accidental cover if you already have a health insurance plan which covers the medical expenses and accidental hospitalisation. With a zero depreciation plan, you can avail the full value of your car in the event of an accident even after applying the depreciation rate.
Condition of the Vehicle
Insurance premiums for your vehicle are also decided by factors like age of your bike, type of vehicle you own, Cubic Capacity of the engine etc. The premium rate for expensive bikes or sports bikes with higher CC is comparatively higher. However, other factors include manufacturing year of the bike, place of registration, fuel type, accessories, any modification done, showroom cost etc.
Age of the Insured
The insurer assumes that the young riders are at higher risks than the mature or experienced bike riders. That’s why if you are purchasing a bike for your 18-years-old son, then you’ll end up paying a slightly higher premium.
Anti-theft Add-on Discount
Your insurer will offer a premium on discounted rate if you intimate the insurer about ARAR endorsed anti-theft device. To protect your bike you can fit an Anti-theft alarm, safety gear lock, GPS device etc.
Why You Need to Renew Your Two-wheeler Insurance
Usually, most of the bike insurance policies are issued for one year. It is your utmost responsibility to renew your policy within the stipulated time-period. You should mark on your calendar so that you don’t miss the due date and can enjoy the policy benefits without a break. With internet industry booming these days, almost every insurance provider allows their customers to renew the policies online. With bike insurance calculator, you can calculate the premium during the time of renewal. Two-wheeler Insurance Premium Calculator is your ultimate solution to compare the premium rates offered by other companies as well.
You just need to visit the websites of online aggregators, click on bike insurance calculator and get the quotes. We often notice that many buyers consider premium rate as the only criteria of buying a bike insurance plan. But our suggestion is to consider other features as well. We guess you shouldn’t mind paying a slightly higher premium to get better coverage. Well, use bike insurance calculator and keep your stress at bay!
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**IMPORTANT NOTICE: We have received in-principle approval from IRDAI for our insurance broking business. In accordance with the in principle approval, since 24th January 2020 we have changed our name from Policybazaar Insurance Web Aggregator Private Limited to Policybazaar Insurance Brokers Private Limited. We thank our customers for their continued support and assure that our customers remain our priority.
CIN: U74900HR2014PTC053454 Policybazaar Insurance Brokers Private Limited (formerly known as Policybazaar Insurance Web Aggregator Private Limited), Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana - 122001
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*The information provided on this website/page is only for information sake. Policybazaar does not in any form or manner endorse the information so provided on the website and strives to provide factual and unbiased information to customers to assist in making informed insurance choices.
The product information for comparison displayed on this website is of the insurers with whom our company has an agreement.