What Is a Two-Wheeler Insurance 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 Royal Sundaram 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-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

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.

Accurate IDV: Your plan's IDV (value of the bike) is a critical component. In the event of theft or total loss of your car, this is the maximum compensation you will receive. Your premium is determined by the IDV of your bike insurance policy. You can set the IDV of your plan using our bike insurance calculator, based on the parameters of your bike and your preferences.

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.

Correct Value 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.

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. The more the IDV, the greater the coverage, and the greater the price.

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.

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.

Frequently Asked Questions

1. Why should I use the premium calculator for bike insurance?

You can quickly calculate the premium amount and IDV offered by several insurance companies using the bike insurance premium calculator. It will assist you in choosing a better bike insurance policy.

2. What is NCB in bike insurance?

The term ‘No Claim Bonus’ refers to a bonus that is given to customers that do not make any claim in the policy term. If a two-wheeler policyholder has not made a claim in the previous policy year, he or she is eligible for this benefit. This acts as a discount on next year’s policy.

3. Is bike insurance mandatory in India?

Yes, bike Insurance is mandatory in India. It is compulsory to have at least third-party coverage to protect the policyholder from third-party loss or damage due to an accident.

4. What factors influence the cost of bike insurance?

Insured Declared Value (IDV), Engine Cubic Capacity, No Claim Bonus (NCB), age of the vehicle, and other factors all influence the insurance rate for a bike insurance policy.

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