Bajaj Allianz Two Wheeler Insurance Premium Calculator
What is a Bike Insurance Premium Calculator?
A premium calculator for bike insurance is a digital tool that helps you get the right premium cost for Bajaj Allianz bike insurance plans. It shows you the correct amount of premium by entering some particulars of your bike which include make, model, variant, registration year and RTO location, etc. After filling up these details, the insurance calculator comes up with the right premium amount for your bike insurance policy.
How to Use a Two Wheeler Insurance Premium Calculator?
Step 1: Select the Make, Model, Variant and Fuel Type of your bike.
Step 2: Select the City of Registration and Year of Purchase of your bike.
Step 3: Share with us as if you have made any claim in the previous policy term.
Step 4: Click on the ‘Calculate’ button and get the right IDV and premium for your bike insurance policy.
Benefits of Two Wheeler Insurance Premium Calculator
- Right Insured Declared Value (IDV) – The bike insurance premium calculator helps you get the right IDV in accordance with the make, model and age of your bike. By knowing the right IDV, you can request the claim for the correct claim amount of your bike in case of theft or total loss.
- Correct Premium Amount – To get the right premium amount of bike insurance policy is the key purpose of this calculator. By getting the correct amount of premium of different bike insurance plans, you can compare and choose the most suited policy for your bike.
- Assist in Decision Making – The premium calculator makes you informed about the current insurance premium rates in the market. With the right knowledge of the premium costs, you can make wise decisions in relation to your bike insurance plan.
- Helps to Choose Economical Plans – You can easily find the right premium cost of different insurance providers with this premium calculator. After getting various policy quotes, you can compare and select the most cost-efficient bike insurance policy.
Third Party Two Wheeler Insurance Premium Rates
Premium To Buy A New Policy (5-Year Plan)
Premium To Renew Existing Policy (1-Year Plan)
Not exceeding 75 cc
Exceeding 75 cc but not exceeding 150 cc
Exceeding 150 cc but not exceeding 350 cc
Exceeding 350 cc
(Source: Insurance Regulatory and Development Authority of India (IRDAI))
Premium for Comprehensive and Standalone Own-Damage Bike Insurance Plans
The premium amount for standalone own-damage and comprehensive bike insurance plans is based on various factors which includes make, model, and the variant of your bike, age of your bike, fuel type and engine capacity of your bike, and so on. You can get the right premium amount for your bike insurance plan by just entering some basic details in the premium calculator. However, here are some factors that can impact your policy premium amount:
Factors Affecting Two Wheeler Insurance Premium
- Owner’s Age - The insurance providers assume on the basis of track records that with age people start driving more responsibly, which increases the risk on the insurance company. Hence, younger riders are charged a higher premium in comparison to older riders.
- Insured Declared Value (IDV) - The Insured Declared Value denotes the current value of the bike, which the insurer has to compensate in case of theft or total loss. It means that the bikes with higher IDV will be charged with higher premium.
- Engine’s Cubic Capacity - The insurance companies charge a higher premium from the owners of the bike with a higher cubic capacity than from those with a bike with lower cubic capacity as the high cubic capacity bikes makes more consumption of consumables to produce more force.
- No Claim Bonus (NCB) - The No Claim Bonus (NCB) is the discount, which is earned by a policyholder by not making any claim in the previous policy year. With the NCB, the policyholders can get a discount of 20% to 50% on their premium amounts.
- Anti-Theft Devices - The anti-theft devices provide more protection to the bike and reduces the chances of theft. It also reduces the risk likely to be suffered by the insurance companies, therefore, bikes with anti-theft devices are charged a lower premium.