Bharti AXA Two Wheeler Insurance Premium Calculator
What is a Bike Insurance Premium Calculator?
A bike insurance premium calculator is a digital instrument that gives you the right premium amount for Bharti AXA bike insurance policy. You just have to enter a few details of your bike such as make, model, variant, RTO location, registration year of your bike, and so on, to get the correct amount of premium. The premium calculator is a very user-friendly and beneficial tool for bike insurance policyholders.
How to Use a Bike Insurance Premium Calculator?
Step 1: Select the Make, Model, Variant and Fuel Type of your bike.
Step 2: Select the Registration City and Year of Purchase of your bike.
Step 3: Mention if you have requested any claim in the last policy term.
Step 4: Click on the ‘Calculate’ button to find the IDV and premium for your bike insurance policy.
Benefits of Bike Insurance Premium Calculator
- Correct Insured Declared Value (IDV) – The premium calculator helps you get the right IDV of your bike and based on the make, model, variant, age, etc., of your bike. With the accurate IDV of your bike, you can know the exact market price of your bike that you should get on making a claim for your bike insurance.
- Right Premium Amount – The actual objective of our premium calculator is to get the right premium amount for bike insurance under different insurance companies. When you get to know the accurate premium amount offered by various insurers, you can choose the best-priced policy for your bike.
- Helps in Make Right Decisions - The premium calculator gives the correct value of IDV and premium that helps you make the right decisions for your bike insurance by comparing various insurance policy quotes. This makes it easier for you to opt for a value for money insurance deal.
- Helps to Get an Affordable Plan - When you get to know the premium amount of different bike insurance plans through the premium calculator, you can choose an economical policy without any hassle. It helps you find a plan that fits your budget and requirements.
Third Party Bike 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 Plan
The bike insurance premium amount for standalone own-damage and comprehensive insurance plans is based on various factors like make, model, variant, fuel type, engine capacity, registration year of the bike, etc. Below are some factors entering which on the premium calculator can get you the premium of your bike instantly:
Factors Which Determine Bike Insurance Premium
- Anti-Theft Devices – Bikes with anti-theft devices installed are charged with a low premium cost. It is because these security devices lessen the possibility of bike thefts and ultimately lower the coverage risk of the insurers.
- Insured Declared Value (IDV) - The IDV is the actual market value of the bike, which policyholders are entitled to get on making a claim in case of theft or total loss of their bikes. It means bikes with higher IDV will be charged with an increased premium amount.
- Engine Cubic Capacity - The cubic capacity reflects the power of a bike. Higher cubic capacity makes a bike consume more consumables and run faster. But, it enhances the risk of an accident, so, premiums of bikes with high cubic capacity are set higher by the insurers.
- Age of the Bike – The value of a bike depreciates every year. It means old bikes are eligible to get a lower amount of claim from the insurance providers. Hence, the premium amount of older bikes is comparatively lower than the cost of the new bikes.
- No Claim Bonus (NCB) – The insurance providers give a no claim bonus as a reward to its policyholders for every claim-free year. The discount applies to the own-damage premium and ranges between 20% to 50%. Hence, the more the NCB will be, the lower the premium will be.
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