The bike insurance amount calculator is nothing but an online tool that helps you to get an estimate of the insurance premium you have to pay for a two-wheeler. All that you have to do is enter the make and model of your bike, registration date, city of registration, and the type of policy you want to buy (third-party or comprehensive). Based on these details, the calculator generates a two wheeler insurance quote for you. You can then customise the premium by including optional add-on covers as per your requirement.


How to Use the Two-Wheeler Insurance Premium Calculator?

To use the calculator, you just have to follow the steps mentioned below:

Step #1: Enter the make, model, variant, date of registration, and the city of registration

Step #2: Click on the ‘Get Quote’ button and choose the plan that suits your needs

Step #3: Then choose third-party insurance or standard/comprehensive insurance

Step #4: Indicate details as regards your last policy - date of expiry, NCB, claims history, etc.

Step #5: The bike premium calculator will now show you the estimated premium amount

Step #6: If you choose the standard insurance plan, you can set the IDV of your bike and also customise the plan by including add-ons such as Zero Depreciation, Engine and Gear Protection, Return to Invoice, etc.

Step #7: The calculator will now display the total premium payable by you.

Importance and Benefits of Using the Bike Insurance Premium Calculator

Most people want to get the job done as fast as possible when buying insurance for their two-wheeler. This is not a good idea. You should not just go for the cheapest bike insurance available. You may have a busy schedule, but you should always set apart some time to choose a suitable insurance plan for your two-wheeler. The 2-wheeler insurance calculator will be of great help to you in this regard. 

The benefits of using the calculator are:

  • It is Cost-Effective and Saves you Money – The idea behind using the calculator is not buying the cheapest policy, but getting the most cost-effective plan for your bike. It helps you to buy optimal protection for your bike.
  • It Helps you Reduce your Two-Wheeler Insurance Premium – When using the 2-wheeler insurance premium calculator you will notice how changes in certain factors increase or decrease the premium. You can try out different options and choose the ones that work best for you.
  • It Enables you to Make Informed Decisions – As the calculator helps you to have a clear understanding of the factors that impact the premium, you will be able to make informed decisions.
  • It Allows you to Determine the Correct IDV – The calculator helps you work out the right IDV and this ensures that you will receive the market value of the bike in the event of theft or total loss of your bike.
  • It Helps you Include the Right Add-ons – Identifying the right add-ons using the online bike insurance calculator and including the same in your bike’s standard insurance policy gets you additional protection.
  • It Helps you Choose the Right Premium – The bike insurance premium calculator also helps you compare quotes from different companies and choose the best plan.

Tips for Reducing Your Bike’s Insurance Premium

A few tips that can help reduce your bike’s insurance premium are as follows:

  • If you are a careful rider and have not been filing claims, you can opt to increase the voluntary deductible to reduce the bike insurance premium payable by you.
  • Ride safely and avoid trouble and filing claims. You will be rewarded with NCB at the time of renewal of your policy.
  • Whatever your concerns are, talk to your insurance company. They might suggest the most appropriate and cost-effective solution.
  • Renew your bike’s insurance policy on time and include relevant add-ons to your standard policy.

FAQs - Frequently Asked Questions

Q1. What is voluntary deductible in two-wheeler insurance?

When you file a claim, the insurance company does not pay the entire amount. The difference between the claimed amount and the paid amount is the deductible and it is to be borne by you.

Q2. Why should I calculate the right IDV using a two-wheeler insurance premium calculator?

Calculating the right IDV of your bike ensures that you will receive the market value of the bike in the event of theft or total loss of your bike.

Q3. What are the benefits of using a 2-wheeler insurance premium calculator?

  • Cost-effective and saves you money
  • Helps you to make informed decisions
  • Enables you to determine the correct IDV
  • Helps you to include the right add-ons

Q4. Are there any disadvantages to using the calculator and buying bike insurance online?

No, there are no disadvantages to buying two-wheeler insurance online. In fact, it is a smarter way of buying your bike’s insurance as you can compare quotes and get the right protection.

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