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Bike Insurance Premium Calculator Online
Choosing the right bike insurance plan is important to get the best kind of protection for the rider and his vehicle. In such a situation, an online bike insurance calculator can be immensely helpful in making the right choice. The bike insurance premium calculator is an effective online tool that allows you to compare from various insurance providers. It can also help understand the various features and benefits that a particular bike insurance comes with. You can use the online bike insurance calculator on this page to get the plan for your two-wheeler.
How is Bike Insurance Premium Calculated
Bike insurance premium is calculated on the basis of factors like its engine capacity, age of the vehicle, etc. The table below will give you an idea of how bike insurance premiums are calculated, as per guidelines given by the Insurance Regulatory Authority of India:
| Two Wheeler Category | Premiums |
|---|---|
| Vehicles not exceeding 75cc in power | ₹482 |
| Vehicles exceeding 75cc but not exceeding 150cc | ₹752 |
| Vehicles exceeding 150cc but not exceeding 350cc | ₹1193 |
| Vehicles exceeding 350cc in power | ₹2323 |
It should be noted that other factors like location, model and price of the vehicle and the age of the vehicle may also affect insurance prices. You can get a good idea of base third-party insurance rates for bikes using the table above.
How to Use Two Wheeler Insurance Premium Calculator Online
Just follow these 5 quick steps to calculate your bike insurance premium using two wheeler third party insurance premium calculator:
- Begin by providing your vehicle’s details such as the registration number.
- Proceed further to provide the details of its make & model, fuel type, registration details, and more.
- Declare the NCB (no claim bonus) status.
- Pick the plan of your choice between third-party & comprehensive plans.
- Provide your personal information and move ahead.
- Lastly, your bike insurance premium will be displayed. It’s that simple!
Benefits of Bike Insurance Calculator
An online two-wheeler insurance calculator is a highly useful tool that comes with several benefits.
- It lets you compare the offers from different insurers before buying the policy.
- It helps you get familiar with the features and benefits of various plans thereby letting you choose the best bike insurance policy for your vehicle.
- A bike insurance calculator makes buying two-wheeler insurance online a time-saving process as you don’t have to visit any insurance company offices.
- It helps you be prepared with the required documents beforehand with no involvement of any third person or an agent, the premiums calculated are impartial.
- A two wheeler vehicle insurance premium calculator is a simple, hassle-free and convenient tool that you can use from anywhere, be it from home or any other place.
Two Wheeler Insurance Calculator for New and Old Bikes
The process to calculate insurance premiums for old and new two-wheelers also differs. Here are some important points you should know:
Renewing Bike Insurance for your Old Bike
In this case, a bike insurance calculator helps you check if you have any reduction in the premium. As the age of the bike affects the premium amount, this becomes a crucial factor for evaluation. The older the bike, the lesser the premium. And, buying bike insurance for your old bike usually involves the process of entering the details of your existing policy before you proceed. Details that are need for calculating old bike insurance premiums are:
- Model, variant and age of the two-wheeler
- Existing insurance policy details, if any
- No Claim Bonus details
Purchasing Bike Insurance for your New Bike
Buying a new bike involves thorough research and evaluation. The same should be the case when it comes to protecting your brand-new bike with a bike insurance plan. And, for getting a quick quote, just enter the details of your new ride, including the make & model, registration number, manufacture details, and more, and derive your bike insurance premium amount instantly. Here are the details needed for calculating a new bike’s insurance premiums:
- Model and variant of the two-wheeler
- Year of manufacture
- Location of bike registration
Comprehensive Bike Insurance Premium Calculator
Here are the important features that are used to calculate the insurance premiums for bikes and two-wheelers in the case of comprehensive insurance:
- Own Damage: Damage to the policyholder’s vehicle is covered under comprehensive bike insurance.
- Insured Declared Value (IDV): IDV refers to the maximum amount of insurance claim that a policyholder is eligible to receive, which is dependent on the current value of the bike or two-wheeler.
- Add-on Covers: You can choose to buy add-on covers on top of your base insurance plan for increased protection. Examples of add-ons include bike theft cover or zero depreciation cover in bike insurance.
- No Claim Bonus: No Claim Bonus is a special discount provided to policyholders who do not make any claims during a given policy term (year).
- Third-Party Coverage: Apart from providing own damage cover, a comprehensive insurance plan also includes coverage for third party damages
- Brand and Model of Bike: Finally, the model and brand of your bike also determine how comprehensive insurance premiums are calculated.
Third-Party Insurance Premium Calculator
Here are the important features that are used to calculate the insurance premiums for bikes and two-wheelers in the case of a third-party insurance premium calculator:
- Third-party coverage: This insurance only provides third party coverage and insurance premiums are based on this singular feature.
- Engine Capacity: Another factor that affects third-party premiums is the engine capacity of the bike or two-wheeler.
- Add-on Covers: You can also choose to buy add-on covers on top of your base third-party insurance plan.
List of Bike Insurance Providers we are Partnered With:
Bajaj Allianz Bike Insurance
Bajaj Allianz Bike Insurance is a reliable product offered by Bajaj Allianz, a collaboration between Bajaj Finserv Limited and Allianz SE. With their profound expertise in the general insurance industry, their products are designed to meet the unique needs of customers. Bajaj Allianz Bike Insurance is equipped with great features and value-added benefits, so customers can get better value for money.
HDFC ERGO General insurance
With over 2000 network garages, you can enjoy cashless claims at your nearest network garage with HDFC ERGO Bike Insurance plans. These plans are designed considering your requirements and budget, so you can afford the insurance premium.
SBI General Insurance
SBI General Insurance has a carefully curated set of two-wheeler insurance plans that can protect a bike owner's finances. Such plans can secure you against costs born from vehicular damages caused by accidents, natural calamities, theft, and more.