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 in order to receive the desired coverage under your Universal Sompo 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

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 (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.

Registration Location:In India, RTO locations are classified as Tier 1, 2, or 3 according to traffic density, which in turn affects the accident rate. As a result, insurance premiums in Tier 1 cities are higher than in Tier 2 and Tier 3 cities.

Anti-Theft Equipment: 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.

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.

Modifications: Modifications are made to improve the bike's performance., however, may not necessarily guarantee the same. When you modify your bike, you may jeopardize its safety. This raises the insurer's obligation, resulting in a higher premium.

Add-On Benefits: Add-ons are optional benefits that you can purchase in addition to your bike insurance policy to receive additional coverage. These extra benefits are to be added individually and thus cost extra.

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. In the premium calculator, what information should I provide to compute the premium?

To use the premium calculator, you'll need to enter information such as your bike's make, model, and variant, as well as the fuel type, RTO location, engine size, and registration year.

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.

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