Shriram Two Wheeler Insurance Premium Calculator
What is a Bike Insurance Premium Calculator?
Bike insurance premium calculator is an online tool that helps you calculate and figure out the right premium amount for a bike insurance policy. You can use InsuranceDekho’s premium calculator online and know the premium for your bike insurance policy within a minute. All you need to do is enter some details of your bike such as its make, model, variant, and fuel type and you will see the most relevant bike insurance quotes from multiple insurers on your screen. You can compare them and buy the most suitable plan as per your requirement.
How to Use a Bike Insurance Premium Calculator?
Using the bike insurance premium calculator online at InsuranceDekho is very easy. To use it, follow the simple steps given below:
Step 1: Select your bike’s Make, Model, Variant, and Fuel Type.
Step 2: Select the City of your bike’s registration. Select the Year of Purchase.
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 your bike insurance policy.
Benefits of Bike Insurance Premium Calculator
InsuranceDekho’s bike insurance premium calculator can be beneficial for you in the followings ways:
- Get the Right IDV: InsuranceDekho’s bike insurance premium calculator helps you know the right Insured Declared Value or IDV. For this, it takes into consideration several factors like your bike’s make, model, and fuel type and leaves no scope of error. IDV is important to know as it tells you the amount you can claim from the insurance company in case of a mishap.
- Know the Correct Premium: One of the primary benefits of using a bike insurance premium calculator is to know the premium you will be required to pay for the shortlisted bike insurance policy. InsuranceDekho’s bike insurance premium calculator tells you the premium amount in advance so that you make an informed decision.
- Helps You Decide: The bike insurance premium calculator helps you not only to find the best bike insurance quotes online, but also compare them and shortlist the most suitable one for you. Once you are well-informed, then you can easily decide what is best for you.
- Helps You Buy Affordable Policies: InsuranceDekho’s bike insurance premium calculator helps you buy affordable bike insurance policies online. You can decide which policy you require and buy it within a few minutes online.
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 bike insurance policies and standalone own-damage bike insurance policies are calculated on the basis of several factors. Some of them are the cubic capacity of the bike, its age, and your age. Read below and understand more about these factors.
Factors Affecting Bike Insurance Premium
Given below are some important factors that affect the premium of your bike insurance policy:
- Insured Declared Value (IDV): Insured Declared Value is the market value of your bike that depends on various factors like your bike’s make, model, variant, date of registration, etc. The IDV of your bike may vary with different insurance companies. The lower the IDV, the lower bike insurance premium you will be charged. You must know that the IDV of your bike keeps falling with use.
- Engine’s Cubic Capacity: Higher the cubic capacity of your bike, faster it will move. But faster speed will also increase the risk on the road. Which is why, higher the cc of your bike, higher the premium for your bike insurance policy will be.
- Modifications: Modifications are not always worthy. Sometimes, it also affects the in-built security of your bike which in turn increases the insurer’s liability. As the insurer’s liability increases, so does your bike insurance premium amount. So, lesser the number of modifications, lesser premium will be required to pay.
- Anti-Theft Devices: ARAI-approved anti-theft devices installed in your bike take care of its security which reduces the insurer’s liability. So, if you have these devices installed, then you can enjoy paying a lesser premium for your bike insurance policy.
- Number of Add-On Benefits: Add-ons such as zero depreciation cover, daily cash allowance cover, etc. are additional benefits that you can purchase along with your bike insurance policy and enjoy extra coverage. As add-ons increase the coverage, it increases the insurer’s liability as well. Hence, you will be required to pay a higher premium to avail of add-on benefits.
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