a bike insurance calculator is a digital instrument
who is designed to help policyholders to calculate a personalised amount of premium for your two wheeler insurance policy. to get the right premium amount, you just have to enter a few details on the premium calculator such as your bike’s make, bike’s model, bike’s variant, bike’s rto location, bike’s purchase year, etc. based on the entered specifications, a bike insurance premium calculator gets you the premium cost that you will have to pay to get a bike insurance policy from different insurers.
the best part of this bike insurance calculator is that it helps you compare different bike insurance policy quotes which let you make the right purchase decision. a bike insurance premium calculator is a trusted and valuable tool as it allows you to opt for the most suitable bike insurance policy and save you time by providing instant and accurate results.
benefits of bike insurance calculator
a bike insurance calculator helps you to calculate and figure out the insurance premium for two-wheeler insurance. this tool considers various details of your two-wheeler such as the make, model, rto details, insured declared value, and provides you with the premium quote in an instant.
- a bike insurance calculator provides the premium quote for a two-wheeler insurance plan instantly and thus helps you save time.
- the bike insurance calculator tool helps you compare the premium cost and the coverage offered by different insurers and thus help you choose the plan which best suits your requirement.
- it is a flexible tool and does not rush you into making any decision. your choice remains unaffected as there is no external influence of an agent.
how is bike insurance premium calculated?
with the insurancedekho bike insurance premium calculator, you can easily compute the premium for your bike insurance policy. a two-wheeler insurance premium amount is based on a number of factors like the insurance coverage, bike’s brand, model, variant, registration year and so on. the premium of the third party bike insurance is set as per the norms of irdai, whereas the premium of standalone own-damage and comprehensive bike insurance is given by the insurance companies and vary depending upon the specifications of the policyholder’s bike.
here is an example to comprehend the bike insurance premium calculation in a better way.
let’s assume, mr. x wants to buy a bike insurance cover for his tvs sportbike which has the following details:
- engine capacity: 99.7 cc
- variant: 100
- registration city and year: noida and 2018
- policy tenure: 1 year
- ncb: 20%
bike insurance premium calculator at insurancedekho, mr. x can find the following policy quotes for the above-mentioned data:
two-wheeler insurance plan
standalone own-damage plan
(premium rates as on feb 1, 2021)
how to use a two-wheeler insurance premium calculator?
the technique of calculating the premium for two-wheeler insurance may vary from one insurer to another.
nonetheless, the type of premium calculators can be divided into two categories – one for new two-wheelers and the other for used two-wheelers. to calculate the premium quote for your two-wheeler insurance plan, all you need to do is to enter a bunch of important details of your two-wheeler and you are done.
however, there are a few basic differences
who affect the calculation of premium through the premium calculator for a new bike and used bike. the first element which brings the difference is the no claim bonus (ncb) earned by the policyholder. with the ncb amount, there is a scope of discount on the premium for a used bike insurance policy which is not available in the calculation of a premium for new bike insurance. the second factor
who brings the difference is the age of the bike, where the new bike will have the higher insured declared value (idv) as compared to the used bike as the former would not have suffered as much depreciation as sustained by the latter.
follow the steps given below to calculate two wheeler insurance premium price online:
step 1: select your bike’s model and make.
step 2: select the registered location of your two-wheeler.
step 3: select the year of purchase of your two-wheeler.
step 4: tell us if you claimed no-claim bonus (ncb) in the preceding year.
step 5: once the details are entered, the two-wheeler calculator will provide you with the premium amount for your two-wheeler insurance plan.
two wheeler insurance premium calculator for new bikes
essential two-wheeler details to calculate the premium of an insurance plan for a new two-wheeler:
- name of manufacturer
- year of manufacture
- model of the two-wheeler
- a variant of the two-wheeler
- registration state and city of the two-wheeler
the two-wheeler premium calculator will calculate the premium amount that you will have to pay for your two-wheeler insurance and will help you in choosing the right insurance.
two wheeler insurance premium calculator for used bikes
essential two-wheeler details to calculate the premium of an insurance plan for an old/used two-wheeler:
- make, model and variant of two-wheeler
- fuel type
- current two-wheeler insurance policy details (if any)
- two-wheeler’s registration state and city
- no-claim bonus (ncb) or past claim file reports and details (if any)
after entering the details, the two-wheeler premium calculator will provide the estimated amount of premium for your two-wheeler insurance plan. then you can choose the most suitable option for yourself.