What is a Bike Insurance Premium Calculator?
A bike insurance premium calculator is an online instrument designed to help you find the correct amount of premium for HDFC ERGO bike insurance plan. To get the accurate premium cost, you are required to fill up some basic details such as the make of your bike, model of your bike, RTO location of your bike, registration year of your bike, etc. On entering these details, the calculator will display the right premium amount of your bike insurance policy.
How to Use a Two-Wheeler Insurance Premium Calculator?
Step 1: Choose the Make, Model, Variant and Fuel Type of your bike.
Step 2: Choose the City of Registration and Year of Purchase of your bike.
Step 3: Tell us, if you have made any claim request in the previous policy term.
Step 4: Click on the ‘Calculate’ button and get the right IDV and premium for your bike insurance plan.
Benefits of Two-Wheeler Insurance Premium Calculator
- Correct Insured Declared Value (IDV) - The bike insurance premium calculator helps you find the correct and appropriate IDV as per the make, model and age of your bike. The right IDV shows you the real market value of your bike that you can get as compensation from the insurance company in the event of theft or total loss.
- Right Premium Amount - The main objective of this bike insurance calculator is to find the right premium amount for your bike insurance plan. With the right premium amount offered under different policies, you can compare and choose the best-priced policy for your bike.
- For Better Decision Making - With the help of a premium calculator, you can compare the bike insurance policy quotes of different insurance providers. After going through them, you can make right buying decisions without any hassle.
- Select Affordable Deals - The accurate premium costs of various bike insurance plans calculated with this calculator can help you make easy comparisons to choose the most relevant and cost-efficient bike insurance policy quotes available in the market.
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
Several factors determine the cost of premium for standalone own-damage and comprehensive bike insurance policies such as make, model, and the variant of the bike, age of the bike owner, his or her profession and driving history, age of the bike, fuel type of the bike, registration location of the bike, cubic capacity of engine, etc. Following are some key factors that can influence the premium of your bike insurance policy computed through premium calculator:
Factors Which Determine Two-Wheeler Insurance Premium
- Insured Declared Value (IDV) - The Insured Declared Value of the bike is the amount that the insurer pays off to the owner of the bike in case of theft or total loss. Therefore, the higher the IDV will be, the higher will be the premium.
- Engine’s Cubic Capacity - The cubic capacity of the engine of the bike also affects the premium amount. The bike with higher cubic capacity consumes more consumables, thus, charged with the higher premium for its insurance policy.
- No Claim Bonus (NCB) - The No Claim Bonus (NCB) is the discount, generally ranges from 20% up to 50%, that a policyholder is entitled to receive for not making any claim in the previous policy year and get its policy premium reduced.
- Anti-Theft Devices - The anti-theft devices installed in the bike reduces the possibility of theft, which lessens the risk for the insurance providers. Hence, bikes with anti-theft devices are charged with a lower amount of premium.
- Age of the Owner - The age of the owner of the bike affects the bike insurance premium too. It is assumed that an older age individual will drive the bike more responsibly than a younger rider. Hence, the former is charged with lower premium than the latter.
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HDFC ERGO Bike Insurance User Reviews
- Most Helpful
HDFC ERGO Bike Insurance Premium Calculator FAQs
What are the benefits of using the bike insurance premium calculator?
The bike insurance premium calculator will help you find the right premium amount for your plan, get the IDV of your bike, choose an affordable policy and make better decisions related to the bike insurance policy.
What details should I enter in the premium calculator to get the premium for a plan?
You need to fill up a few basic details like make of the bike, model of the bike, RTO location of the bike, registration year of the bike, and so on., to get the accurate amount of premium offered by the insurance company for a bike insurance plan.
What are the factors which determine the premium of a bike insurance plan?
There are several factors which affect the premium of a bike insurance policy which includes the age of the owner, No Claim Bonus (NCB), engine cubic capacity (cc) of the bike, anti-theft devices, Insured Declared Value (IDV), city of registration, association with automobile club, any modification made to the bike and many more.
Where can I find the premium calculator to compute the premium for my insurance plan?
You can get the best premium calculator to reckon the premium and IDV for your insurance policy at the website of InsuranceDekho, i.e., www.insurancedekho.com.
Can I use the premium calculator to calculate the policy premium for a used or old two-wheeler?
Yes, the premium calculator can be availed to compute the cost of policy premium for a new as well as old or used two-wheeler.
Why to buy from InsuranceDekho?
- Instant policy# within 5 mins
- More than 11.5 Lac happy customers
- Claim Support available all 7 days of the week
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