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:

Step 1: Begin by providing your vehicle’s details such as the registration number. 

Step 2: Proceed further to provide the details of its make & model, fuel type, registration details, and more.

Step 3: Declare the NCB (no claim bonus) status

Step 4:Pick the plan of your choice between third-party & comprehensive plans

Step 5: Provide your personal information and move ahead. 

Step 6: 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:

  • 1. Model, variant and age of the two-wheeler
  • 2. Existing insurance policy details, if any
  • 3. 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:

  • 1. Model and variant of the two-wheeler
  • 2. Year of manufacture
  • 3. 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:

  1. Own Damage: Damage to the policyholder’s vehicle is covered under comprehensive bike insurance.
  2. 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.
  3. 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.
  4. 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).
  5. Third-Party Coverage: Apart from providing own damage cover, a comprehensive insurance plan also includes coverage for third party damages
  6. 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:

  1. Third-party coverage: This insurance only provides third party coverage and insurance premiums are based on this singular feature.
  2. Engine Capacity: Another factor that affects third-party premiums is the engine capacity of the bike or two-wheeler.
  3. 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 Car Insurance

Bajaj Allianz Car 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 Car Insurance is equipped with great features and value-added benefits, so customers can get better value for money.

Acko General Insurance

acko
Acko General Insurance, with its a different approach, makes buying insurance easy and quick! The plans are well-designed for the customer's needs. It offers inexpensive plans and a range of add-on covers to enhance the plans as per customer requirements.

How to Compare Two Wheeler Insurance Plans

Online bike insurance calculator has made it easier for you to calculate the bike insurance in minutes. By entering just a few important details, the calculator displays the premium amount payable by you, making it easier for you to gauge your total investment towards the bike insurance policy.
Follow these quick tips to keep in mind while comparing bike insurance quotes to get the right plan:

  • The type of plan remains a crucial factor that should be considered when picking a two-wheeler insurance plan.
  • While you do so, don’t forget to examine factors like the features and benefits of the plan. This would help in making the right decision.
  • It is also very important to check the premium amount payable. As premium payment is a regular transaction, it is important to consider this aspect, so it does not become a financial burden.
  • Check add-on covers such as zero depreciation bike insurance or bike’s roadside assistance cover made available with the bike insurance plan, so you can enhance your protection against damages.
  • The Claim Settlement Ratio of the insurer is another crucial factor that needs to be considered when buying a plan. The higher the ratio, the greater is the chance of your claims being accepted.

Factors Determining Bike Insurance Premium

Age of the bike

Age of the bike

Your vehicle’s age is a crucial factor used to determine the Insured Declared Value set by the insurer. This makes it a key factor in deciding the bike insurance premium.

Type of plan

Type of plan

Whether you choose a third-party bike insurance or a comprehensive plan, the premium amount varies. While comprehensive two-wheeler insurance is the most recommended plan, with extensive coverage for third-party and own damage, the premium for this plan is relatively higher.

Location

Location

Your geographical location plays a vital role in determining the two-wheeler insurance premium as the customers living in localities with higher probability of theft and damage are charged with a higher premium.

Riders

Riders

Add-on covers are an essential enhancement for your financial coverage. Your total bike insurance premium is also affected by the additional rider options you select as you have to pay an additional premium for them.

Engine capacity

Engine capacity

Your bike’s engine capacity is also a very important factor that helps determine the premium of your bike insurance policy. Greater the engine capacity, higher is the premium.

How to Reduce Bike Insurance Premiums

Bike insurance premium rates may vary across different insurance companies. However, you can always take the necessary measures to save on the two-wheeler insurance premiums that you will pay for the financial coverage.
Here are some tips to reduce the bike insurance premiums:

  • Choose relevant add-on covers

    Add-on covers are an essential addition to your bike insurance plan. Having said that, it is also very important to pick relevant riders to ensure you don’t spend on non-essential ones.
  • Install anti-theft devices

    Some insurers allow you to save on your premium if your vehicle has an anti-theft device installed on your bike.
  • Pay for minor damages from your pocket

    Avoid filing claims for small damages to enjoy NCB (No Claim Bonus). If you are wondering what’s NCB in bike insurance, NCB is a discount that insurers typically offer after every claim-free year
  • Opt for long-term policies

    Long-term bike insurance policies save you the hassle of renewing your policy annually.

When will I get my bike insurance policy if I buy it online?

Various insurers send your bike insurance policy document’s soft copy on the registered email id immediately after you pay your two-wheeler insurance premium online.

Why is it good to get a two-wheeler insurance quote online?

Getting a two-wheeler insurance quote online does not just save you time and hassle, but also lets you save on the extra expenses incurred on middlemen or agents.

What is IDV for bike insurance?

IDV for bike insurance means the current market value of the vehicle. It corresponds to the maximum sum assured fixed on the vehicle by the insurer. It is paid against the total loss or theft of the bike.

Is the bike insurance calculator accurate?

Yes, as long as you input the right details about your vehicle in the two-wheeler insurance premium calculator, you will get an accurate quote.

How can I select the best two-wheeler insurance plan for my bike?

You can get the best bike insurance plan for your vehicle by using the two-wheeler insurance premiums calculator to check the premiums and quotes of various insurance plans. You should also browse different insurance websites before settling on buying your insurance plan.