What Is a Two-Wheeler Insurance Premium Calculator?

A bike insurance premium calculator is a digital tool that calculates the appropriate premium for your Digit bike insurance policy. To calculate the correct premium amount, simply provide some basic information such as the bike's make, model, RTO location, and registration year. By providing these facts, the calculator will calculate the appropriate premium for your Digit bike insurance policy.

How To Use a Two-Wheeler Insurance 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

Benefits of Two-Wheeler Insurance Premium Calculator

Corrects Insured Declared Value (IDV): The premium calculator calculates the correct IDV for your bike depending on its make, model, and age. The right IDV value will assist you in determining the market price of your bike, which will serve as the claim amount in the event of theft or total loss.

Accurate Premium Amount: The main goal of this calculator is to calculate the premium amount for various insurers' bike insurance plans. After comparing numerous insurance plans with the proper premium information, you may choose the most affordable insurance plan for your bike.

No Paperwork: The insurance premium calculator tool is integrated online and does not require any paperwork.

Makes it Easier to Plan Ahead: Making a monthly budget allows you to manage your spending and stay on track. You can factor in the premium amount when budgeting using the two-wheeler insurance calculator.

Helps to Choose a Cost-Effective Plan: When you use the premium calculator to get quotes from top insurers for your bike insurance, you can choose the most cost-effective plan based on your budget and requirements. It allows you to get a good deal. With Quickinsure, this process is easier. Our experts are available to help you choose the plan that is the best fit for you.

Factors that Determine Two-Wheeler Insurance Premiums

Insured Declared Value: 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. The more the IDV, the greater the coverage, and the greater the price.

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.

No Claim Bonus: 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.

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 calculate my second-hand bike insurance premium online?

Yes, you can calculate your second-hand bike insurance premium online with the help of a bike insurance premium calculator by just entering a few details about your bike.

3. Can premium calculators only calculate premiums for a new bike?

No, the premium calculator calculates and displays the premium and IDV for both new and used bikes.

4. How to calculate old bike insurance premiums using a premium calculator?

To calculate your bike insurance premium calculator just enter some basic details like make mode, sub-model, registration date, fuel type, previous year policy details, and which type of insurance you want to renew that is a third party or comprehensive.

5. What is third-party bike insurance?

Third-party bike insurance is where only damages caused to a third-party person, vehicle, or property are covered.

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