Bike Insurance Quotes on Top Bike Models
The cost of a bike insurance policy is known as premium. The Insurance Regulatory and Development Authority (IRDAI) has fixed the premium for third party plans which vary depending upon the engine capacity of the bike. The premium amount for comprehensive bike insurance plans and for standalone own-damage bike insurance plans depend on a number of factors such as the coverage of the plan, make, model and variant, fuel type of the bike, RTO location etc.
Bike Insurance for Popular Bike Models
Add-on Covers For Your Bike Insurance Policy
Like other assets, the value of your two wheeler also depreciates constantly with time and the liability of this expense by default rests with the policyholder. A zero depreciation add-on protects you against the depreciation expenses incurred by your bike. Thus, if you opt for a zero depreciation cover, depreciation expense of your bike is not deducted from your claim amount at the time of a claim settlement. This add-on is available with comprehensive bike insurance plans as well as standalone bike insurance plans. This is one of the most popular and recommended bike insurance add-on covers.
In case of total loss (more than 70% damage) or theft of your bike, the insurance company pays you the Insured Declared Value of your bike as compensation. However, this Insured Declared Value (IDV) is less than the invoice price which you pay at the time of purchasing your bike. The Invoice Protection add-on cover helps you claim the Invoice Price, i.e. total ex-showroom price of your bike plus taxes plus registration charges, of your bike in case of total loss or theft of your bike.
No Claim Bonus is the reward which is given to the policyholder for not making any claim during the policy period. This reward is offered by the insurer in the form of a discount on the own-damage premium of the bike insurance policy at the time of policy renewal. The NCB ranges from 20% to 50% of the own-damage premium depending on the number of claim-free years. However, if you make even a single claim during the policy period this NCB gets lost. But, with the NCB Cover, you can keep your NCB intact even after making a claim during the policy period.
The damages incurred by the engine of the two wheeler are by default not covered under a bike insurance policy. However, if you opt for an Engine Protection Cover, the insurer will be liable to compensate you for damages incurred by the engine of your bike such as damage due to leakage of lubricants, water ingress, hydrostatic lock, damaged gearbox, broken crankshafts or pistons and cylinders. The repair cost of the internal engine parts is often high and can sum up to thousands of rupees or more. Thus, addition of this add-on to your comprehensive or standalone 2 wheeler insurance policy can save you from these expenses.
Find Right Bike Insurance Quotes by Bikes Body Type
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Bike Insurance Premium FAQs
What does a bike insurance premium mean?
The bike insurance premium refers to the cost of the insurance plan purchased for a bike.
Is the premium for comprehensive bike insurance the same for all bikes?
No, the premium for comprehensive bike insurance is not the same for all bikes. The premium for a comprehensive plan varies on the basis of the MMV (make, model and variant) of the bike, its engine capacity, its age, the add-ons opted among other factors.
How can I lower the insurance premium for my bike?
You can lower the insurance premium for your bike by following the below-mentioned tips:
Always compare available insurance plans and then choose the one which best suits your requirements and budget. Avoid making claims for small expenses. This helps you keep your No Claim Bonus (NCB) discount intact. The NCB ranges from 20%-50% depending on the number of claim-free years. Always remember to transfer your NCB at the time of policy renewal.
How does the age of the bike affect the bike insurance premium?
The Insured Declared Value (IDV) offered by an insurance company for an old or aged bike is relatively less than that of a new bike. The age of a bike affects the IDV because of the depreciation (wear and tear )suffered by it over time. Thus, the premium amount for aged bikes is lower than that of brand new bikes.
What is the premium for bike insurance add-ons?
The premium for each bike insurance is different. Each bike insurance add-on such as a zero depreciation cover, engine cover, tyre cover, etc comes with a separate premium and helps you extend the coverage of your insurance plan. Bike insurance add-ons are available with standalone own-damage and comprehensive bike insurance plans.
How to compare bike insurance quotes at InsuranceDekho?
At InsuranceDekho, you can compare different bike insurance quotes easily and quickly. All the quotes which get displayed to you are customized according to the details shared by you. Thus, you can compare the quotes basis the available coverage and other features offered by the bike insurance plans.
How long are bike insurance quotes valid for?
At InsuranceDekgo, the generated bike insurance premium quotes generally remain valid for around 10 days, however, they may change if the premium rates shared by insurance companies change or if the age of the bike gets changed during the period.
How to get bike insurance quotes online at InsuranceDekho?
You can get the best bike insurance quotes at InsuranceDekho by following the below-mentioned steps:
Step 1: Visit insuracedekho.com and click on the tab for ‘Bike’.
Step 2: Enter your bike’s Registration Number. If you do not remember your bike’s registration number, please choose the ‘Don't know your bike number?’ option.
Step 3: A pop up window will appear. Now, select your bike’s brand name, model, fuel type, variant, registration year, registration city and RTO.
Step 4: Enter your personal details - Name and Mobile Number. Click on ‘Submit and Get Quotes’. Confirm the expiry date of your previous bike insurance policy and the name of your previous bike insurer.
Step 5: All available premium quotes from different insurers will be displayed to you.
How can I find cheaper bike insurance quotes online?
You can find cheaper bike insurance plans by comparing different quotes. You can do so by visiting InsuranceDekho and selecting the quote which best suits your requirements.
Are bike insurance quotes free?
InsuranceDekho offers the service of comparing insurance premium quotes for your bike for free. However, you need to pay the premium at the time of buying a bike insurance plan.
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