DHFL Two Wheeler Insurance Premium Calculator
What is a Bike Insurance Premium Calculator?
Bike insurance premium calculator is an online tool that helps you generate the right insurance premium for your bike. It allows you to compute the premium of your bike and compare benefits. All you are required to do is enter a few details of your bike like its brand name, model, registration city and year etc and the premium is displayed to you. The premium calculator helps you to make an informed decision.
How to Use a Two Wheeler Insurance Premium Calculator?
To use bike insurance premium calculator on InsuranceDekho, follow the steps given below:
Step 1: Select your bike’s Make, Model, Variant, and Fuel Type.
Step 2: Select the City in which your bike is registered and select the Year of Purchase.
Step 3: Answer the question ‘Have you made a claim in the previous year?’ by selecting yes or no.
Step 4: Click ‘Calculate’. You can find the right IDV and premium amount for your bike insurance policy.
Benefits of Two Wheeler Insurance Premium Calculator
Listed below are the benefits of bike insurance premium calculator at InsuranceDekho:
- Right Insured Declared Value: Bike insurance premium calculator helps you to get the right Insured Declared Value for your bike considering its make, model, variant, and age. Knowing the right IDV for your bike is important as it helps you understand the actual value of your bike that you can claim in case of total loss or claim against theft.
- Correct Premium: Bike insurance premium calculator lets you know the correct premium that you will be required to pay for your bike insurance policy. It helps you make an informed decision and manage finances accordingly.
- Improves the Decision Making Ability: Bike insurance premium calculator allows you to find and compare quotes online with ease and make the best buying decision for your bike.
- Helps You to Buy Economic Deals: When you have the premiums for similar bike insurance policies that are suited the best for you displayed on your screen, then you can easily choose the most affordable policy for your bike from them.
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)
Premium for Comprehensive and Standalone Own-Damage Bike Insurance Plans
There are various factors that affect the premium for standalone own-damage and comprehensive bike insurance plans. For instance, cubic capacity, your age, driving history, and age of the bike. This is the reason why two people who own bikes of the same brand may be paying different premium for bike insurance. Following are a few factors which affect the premium of a bike insurance plan.
Factors Affecting Two Wheeler Insurance Premium
Listed below are the factors that affect bike insurance premium:
- Engine’s Cubic Capacity: The cubic capacity of a bike's engine is one of the factors that determines the premium of your bike insurance policy. You will be required to pay a higher premium if your bike has a higher cubic capacity.
- Insured Declared Value (IDV): The make, model and variant of a bike decide its market value. Over a period of time, the value of your bike depreciates and hence the IDV decreases. Lower the IDV of your bike, lower premium you will be required to pay to get it insured and vice versa.
- Modifications: Modifications may upgrade the look and performance of your bike. But it may compromise with the in-built security features of the bike and thereby increase its chances of getting stolen or meeting an accident. So, greater the modifications, higher the premium amount you will be required to pay to get your bike insured.
- Anti-Theft Devices: If you have ARAI-approved anti-theft devices installed in your bike that ensures its safety, then you will be paying a relatively lower insurance premium. This is because anti-theft devices will reduce the chances of the bike getting stolen.
- Number of Add-Ons: Add-ons are the additional coverages that you can enjoy with your bike insurance policy. Inclusion of add-ons to your bike insurance policy increases the benefits of your policy and hence the premium. So, one must choose the add-on benefits wisely.