What Is a Two-WheelerInsurance Premium Calculator?

A bike insurance premium calculator is an online tool that allows you to calculate the bike insurance premium you'll need to pay to receive the desired coverage under your Cholamandalam MS bike insurance policy. Simply enter your bike's details into the premium calculator, and the correct premium will be displayed on your screen. It's a helpful tool that allows you to compare available plans to help you pick the suitable one.

How To Use a Two-WheelerInsurance Premium Calculator?

  1. Add details such as make, model, fuel type, and registration date
  2. Make sure that you have entered all details as per the registration certificate
  3. Add registration location and click on the ‘Continue’ button.
  4. Enter the previous year’s policy details and claim details (if any)
  5. Select add-ons as per your requirement (if applicable)
  6. Bike insurance premium calculator will now display quotations from multiple insurers
  7. Calculate Now

BenefitsofTwo-WheelerInsurance Premium Calculator

CorrectValue of the Bike: The premium calculator helps you calculate the proper Insured Declared Value (IDV) for your bike by taking into account parameters such as the make, model, variant, age, and so on. With the correct IDV of your bike, you can determine the actual market price of your bike, which you should receive when filing a total loss claim.

Correct Premium: Using a bike insurance premium calculator will assist you in determining the correct premium. You can select the best-priced coverage for your bike if you know how much your premium payable is going to be.

Informed Decision-making: The premium calculator calculates the right value for your bike and the premium for your insurance policy. You can evaluate them based on the benefits provided by each insurance and choose the best price.

Easy, Quick, and Paperless: We understand if spending your weekend on difficult arithmetic isn't your idea of fun. Two-Wheeler Insurance Calculator is quick, simple, and requires no math.The insurance premium calculator tool is integrated online and does not require any paperwork.

Factors that Determine Two-Wheeler Insurance Premiums

Insured Declared Value (IDV):The IDV refers to the bike's current market value, which insurance companies are legally obligated to offer policyholders as compensation in the event of theft or total loss. Themore the IDV, the greater the coverage, and the greater the price.

No Claim Bonus (NCB): For each year without a claim, the insurance company rewards policyholders with a discount, starting at 20% for the first year to up to 50 %. A higher NCB discount will lessen the insurance premium.

Anti-Theft Devices: Bikes with anti-theft devices are charged a lower premium since they are less likely to be stolen, lowering the insurance provider's risk of coverage.

Engine Cubic Capacity: A bike with a large cubic capacity has more power, which allows it to run quicker, increasing the risk. As a result, insurance firms charge higher premiums for high-cubic-capacity bikes, such as sports bikes.

Bike Age: The year a bike was first registered has an impact on the premium amount. The automatic depreciation reduces the value of an old bike, lowering the insurance company's settlement amount. It means that the premium cost for old bikes is cheaper than for new bikes.

Frequently Asked Questions

1.What role can a premium calculator play in my bike insurance?

The bike insurance premium calculator can assist you in determining the appropriate premium cost for bike insurance plans and IDV given by various insurance firms in the market for the insured bike. You may simply choose a cheap insurance policy and make informed selections about bike insurance with this type of information.

2. Can I use the premium calculator to figure out the premium for my old bike?

Yes, you can use a premium calculator to figure out how much yourbike premiums will cost. It works for old as well as new bikes.

3. Is the premium calculator exclusively for new motorcycles?

No, the premium calculator is intended to calculate the amount of premium for both new and used motorcycles.

4.What are the benefits of buying two-wheeler insurance through the internet?

Buying two-wheeler insurance online saves time and effort, and it can be done from any location at any time.

5. How many types of motor insurance are there?

There are three types of motor insurance in India. Third-party insurance, comprehensive insurance, stand-alone own damage insurance.

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