Raheja QBE Two Wheeler Insurance Premium Calculator
What is a Bike Insurance Premium Calculator?
Bike insurance premium calculator is a useful tool that helps you calculate bike insurance policy premium online from multiple insurers within a few seconds. InsuranceDekho’s bike insurance premium calculator allows you to compare, analyse so that you are able to make the right buying decision. It helps you figure out the bike insurance policy premiums from various insurers for which you are required to enter a few details such as the make, model, variant, fuel type, city and registration of your bike and you will get the best quotes online.
How to Use a Bike Insurance Premium Calculator?
To use InsuranceDekho’s bike insurance premium calculator online follow the simple steps given below:
Step 1: Select your bike’s Make, Model, Variant, and Fuel Type.
Step 2: Select the City of registration. Then select the Year of Purchase of your bike.
Step 3: Tell us ‘Have you made a claim in the previous year?’ by selecting yes or no.
Step 4: Click on ‘Calculate’. You will find the right IDV and premium for bike insurance policy on your screen.
Benefits of Bike Insurance Premium Calculator
InsuranceDekho’s bike insurance premium calculator offers you the following benefits:
- Get the Right IDV: With InsuranceDekho’s bike insurance premium calculator, you can get the right Insured Declared Value (IDV) for your bike. IDV is the market value of your bike and is calculated after subtracting depreciation. IDV is calculated after taking into consideration your bike’s make, model, variant, fuel type, age, etc and keeps you informed about the amount the insurance company will compensate you for in case of total loss of your bike.
- Know the Correct Premium: One of the main uses of bike insurance premium calculator is to find out the bike insurance policy premium. InsuranceDekho’s bike insurance premium calculator calculates the premium of most suitable bike insurance policies offered by multiple insurers within a few seconds.
- Helps You Decide: Knowing in advance about the premium that you will be required to pay for a bike insurance policy helps you make an informed decision. You can compare and analyse multiple bike insurance plans online and select the most suitable one of them.
- Helps You Buy Affordable Policies: With the premiums of several bike insurance plans displayed on your screen, you can easily choose the most affordable bike insurance policy as per your budget by using InsuranceDekho’s bike insurance premium calculator.
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)
Premium for Comprehensive and Standalone Own-Damage Bike Insurance Plans
Premium for comprehensive and standalone own-damage bike insurance plans depend on several factors such as bike modifications, bike’s Insured Declared Value, cubic capacity, add-on benefits, etc. Read on to know how these factors affect the bike insurance premium.
Factors Affecting Bike Insurance Premium
Given below are some factors that affect premium for comprehensive and standalone own-damage bike insurance plans:
- Modifications Done on Bike: People love to give their bikes aesthetic modifications like change in color, replacement of seat cover, etc. and performance modifications like installation of speed increasing mechanisms, etc. to make it better, stronger, and more potent. But these modifications are considered as risky by the insurance companies and hence they extra premium for the same.
- Insured Declared Value (IDV): Higher the Insured Declared Value of your bike, higher the amount the insurance company will have to compensate you for. So, if the IDV of the bike is high, then you will be charged a higher bike insurance premium and vice versa.
- Anti-Theft Devices: Installation of ARAI-approved anti-theft devices in your bike increases the security of your bike which reduces the chances of it getting stolen and hence decreases the insurer’s liability. So, you can enjoy paying a lesser bike insurance premium if you have ARAI-approved anti-theft devices installed in our bike.
- Age of the Bike: The older your bike is, the lesser its market value or IDV will be due to the default depreciation. This means that the insurance company will compensate you for the lesser amount in case of total loss of your bike. Therefore, you will be charged with a lesser bike insurance premium.
- Add-On Covers: Add-on covers are additional benefits that you can opt for by paying an extra bike insurance premium. You can opt for add-on covers for your bike such as zero depreciation cover, daily cash allowance cover, roadside assistance, etc. but will be charged extra for the same. So, it becomes important to choose the add-on covers wisely.
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