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  • Insurance Permium Calculator For New Bike
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Calculate Your Two Wheeler Insurance Premium by using this calculator

A two-wheeler insurance premium calculator assists the policyholder in calculating the premium payable towards a specific bike insurance plan. Calculation of premium before buying the plan gives an honest idea on various bike insurance plan quotes.
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Top Bike Insurance Plans

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Reliance General Insurer
Amount Covered: ₹ 1 Lakh
Deal Price: ₹ 2,094 / Year
Waiting period: 4 yrs

Disclaimer: The above mentioned prices are for a 2 year old Hero Honda Karizma R 223 CC, registered in Navi Mumbai & previous policy has expired.

Benefits of Bike Insurance Calculator

Save Time & Effort
Save Time & Effort
It automates the entire process of mathematical calculation, thus saving time and effort.
Completely Bias-free
Completely Bias-free
It is accurate and based out of an algorithm. This enables the tool to negate all influences arising out of banks, agents and human error. It is completely dependent on the information provided by you.
No Commission
No Commission
Not required to pay any commission or extra service fee to the intermediary.
No Paper Work
No Paper Work
This tool is integrated online and does not require any paperwork.
Free of Cost
Free of Cost
This tool is completely free of cost.
Compare Rates
Compare Rates
It can also help you compare different two wheeler insurance rates of varying insurance companies and present you with an optimum option.
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Get Lowest Rates for bike Insurance

Buy Two Wheeler Insurance Plans Online

Types of Two Wheeler Insurance Policies in India

Third Party Two Wheeler Insurance
Third Party Two Wheeler Insurance
Comprehensive Two Wheeler Insurance
Comprehensive Two Wheeler Insurance
Own Damage Two Wheeler Insurance
Own Damage Two Wheeler Insurance

How to Use a Bike Insurance Premium Calculator?

First, you need to visit the official website of any of the two wheeler insurance providers and select the two wheeler insurance premium calculator. You can select the calculation on the basis of new premium payment or renewal. Next, fill up the requested details mentioned below and then click ‘calculate’.

KYC - Name, mobile number and email ID
KYC - Name, mobile number and email ID
Extra cover
Extra cover
Fuel type
Fuel type
City and date of registration
City and date of registration.

Top Rated Two Wheeler Insurance Companies

HDFC ERGO
HDFC ERGO Two Wheeler Insurance
Reliance
Reliance Two Wheeler Insurance
Oriental
Oriental Bike Insurance
Go Digit
Digit Two Wheeler Insurance
Kotak
Kotak Two Wheeler Insurance
Royal Sundaram
Royal Sundaram Two Wheeler Insurance
National
National Two Wheeler Insurance
SBI
SBI Two Wheeler Insurance
Liberty General
Liberty General Two Wheeler Insurance
Magma HDI
Magma HDI Two Wheeler Insurance
Shriram
Shriram Two Wheeler Insurance
Universal Sompo
Universal Sompo Two Wheeler Insurance
ICICI Lombard
ICICI Lombard Two Wheeler Insurance
Edelweiss
Edelweiss Bike Insurance
United India
United India Bike Insurance
Bajaj Allianz
Bajaj Allianz Two Wheeler Insurance
IFFCO TOKIO
IFFCO TOKIO Two Wheeler Insurance

How is Bike Insurance Premium Calculated?

Third Party Premium: The premium for the third-party liability cover is decided by the Insurance Regulatory and Development Authority of India (IRDAI). The premium calculated by two wheeler insurance calculator is based on the engine cubic capacity (cc). IRDAI changes the price every year.

The following table shows the revised premium for FY 23

TWO WHEELERSPREMIUM
Not exceeding 75ccRs.538
Exceeding 75cc but not exceeding 150ccRs.714
Exceeding 150cc but not exceeding 350ccRs.1366
Exceeding 350ccRs.2,804

Comprehensive Premium: The premium of a comprehensive or package policy differs from insurer to insurer. Since the comprehensive policy provides financial coverage for own bike damage, it takes various variables into account in the bike insurance calculator while calculating the premium. Own Damage premium is based on the Insured Declared Value (IDV). Factors taken into account are ex-showroom price, age of the vehicle, location of registration.

Two Wheeler Insurance Premium Calculator for New Bikes

Necessary two-wheeler details to calculate the premium of an insurance plan for a new two-wheeler are as follows:

  • Name of manufacturer
  • Year of manufacture
  • Model of the two-wheeler
  • A variant of the two-wheeler
  • Registration state and city of the two-wheeler

The two-wheeler premium calculator will calculate the premium amount that you will have to pay for your two-wheeler insurance and will help you in choosing the appropriate insurance plan.

Two Wheeler Insurance Premium Calculator for Old/Used Bikes

Necessary two-wheeler details to calculate the premium of an insurance plan for an old/used two-wheeler area as follows:

  • Make, model and variant of two-wheeler
  • Fuel type
  • Current two-wheeler insurance policy details (if any)
  • Two-wheeler’s registration state and city
  • No-claim Bonus (NCB) or past claim file reports and details (if any)

After entering the details, the two-wheeler premium calculator will provide the estimated amount of premium for your two-wheeler insurance plan. Then you can choose the most appropriate option for yourself.

India's Popular Two Wheeler Manufacturers

BMW Two Wheeler
BMW
Hyosung Bike Insurance
Hyosung
Honda Two Wheeler Insurance
Honda
KTM Two Wheeler Insurance
KTM
LML Two Wheeler Insurance
LML
Mahindra Two Wheeler Insurance
Mahindra
Triumph Two Wheeler Insurance
Triumph
Royal-Enfield Two Wheeler Insurance
Royal-Enfield
Indian Two Wheeler Insurance
Indian
BAJAJ Two Wheeler Insurance
BAJAJ
Piaggio Two Wheeler Insurance
Piaggio
TVS Two Wheeler Insurance
TVS
Yamaha Bike Insurance
Yamaha
Harley-Davidson
Harley-Davidson
Suzuki Two Wheeler Insurance
Suzuki
Aprilia Two Wheeler Insurance
Aprilia
Hero Two Wheeler Insurance
Hero

Benefits of Bike Insurance Premium Calculator in India

Are you still unsure about calculating your insurance premium? Well, think of it this way – remember how we scan the internet while buying anything online, from clothes to electronics? It’s the same with insurance policies. Bike insurance calculator helps to access your bike details and scan various insurer quotes to display the right plans available for you.

Here are a few more benefits of calculating your premium through bike insurance premium calculator:

  • Get a fair idea of the different players in the market and the different products you can opt for.
  • Get a clear idea of the various plans you check for. Here, Coverfox gives you plans without any prejudice, based on accurate information!
  • This way, you are already prepared with all prerequisite documents and formalities required.
  • Get a good understanding of the various plans in the market in a quick glance; it’s value for money!
Click Here to Calculate Two Wheeler Insurance

Factors that Decide Your Two Wheeler Insurance Premium

Bike Model and Make
BIKE MODEL AND MAKE

The more high-end the bike, the higher is the insurance premium you need to pay. That means you, Harley Davidson and Ninja owners!

Year of Manufature
YEAR OF MANUFACTURE

Since rate of depreciation increases with age, older bikes have ‘Lower Insured Declared Value’, hence they have lower premiums and vice versa.

Engine Capacity
ENGINE CAPACITY

Know the cubic capacity of your bike’s engine? Well, you are one step closer to knowing what your insurance premium should be!

Age of Owner
AGE OF OWNER

Since the insurers don’t know whether you are a reckless driver or not, age (unfortunately) becomes an important parameter – so if you are between 18-25, your premium would be higher!

Geographic Location
GEOGRAPHIC LOCATION

Do you stay in an urban location with higher density of traffic (and thus, a higher incident of accident)? Well, that means a higher premium for you!

No Claim Bonus
NO CLAIM BONUS

A discount that is offered to you for every year that you do not raise a claim – this is the Insurance Company’s way of rewarding you for being a good driver!

Anti Theft Discount
ANTI-THEFT DISCOUNT

Have you fitted your bike with an ARAI approved anti-theft device? Well, there's an additional 2.5 percent discount for you just for being so responsible!

Voluntary Deductible
VOLUNTARY DEDUCTIBLE

One way of lowering your premium is by voluntarily declaring a minimum amount you would be willing to bear in case of a claim.

Tips To Reduce Two Wheeler Insurance Premium?

1. Buy Insurance Online

It is economical to buy bike insurance online rather than purchasing it through an offline method. Different insurance providers give insurance covers at competitive rates online to allure customers. Also, the online purchase allows you to compare different plans to get the most affordable policy.

2. Do Not Make Small Claims

Making claims will make you lose No Claim Bonus (NCB), they try not to request insurance claims for small bike damages and pay for their repair bills on your own. It will make you earn a discount on your next year’s premium.

3. Installation of AAI

Approved Anti-Theft Devices-Several insurance companies offer discounts to policyholders who have anti-theft devices installed in their bikes which are certified by the Automotive Research Association of India (ARAI). Hence, installation of anti-theft devices can help you get insurance at a discounted price.

4. Opt for a Multi

Year Insurance Policy-If you choose to opt for a multi-year bike insurance plan for a period of up to 3 years rather than going for an annual bike insurance plan, then the insurance company may offer you a specific percentage of the discount. Moreover, with a long-term insurance plan, you can get rid of the hassles of going for yearly insurance plan renewal. Therefore, by doing so you can reduce the cost of your insurance premium.

5. Type of Bike

One of the primary factors affecting the premium cost is the type of bike selected by you. The cost of the premium for sports bikes and superbikes is generally higher as compared to the everyday commuter motorbike. With higher power and engine displacement, the cost of the premium for the bike insurance plan would also be higher. This is due to the fact that costly motorbikes would require greater maintenance in comparison to a general commuter bike. Therefore, it is recommended that you should select your bike carefully depending upon your requirements.

6. Add-On Covers Opted

Add-on covers chosen by you add further to the premium cost. Hence, it is important to select only the add-on covers that are really needed and the rest should be avoided.

Add-on Cover for Two Wheeler Insurance

Zero Depreciation

Zero Depreciation Cover

Roadside Assistance

Roadside Assistance

Return to Invoice

Return to Invoice

No Claim Bonus

No Claims Bonus

Daily Allowance Benefit

Daily Allowance Benefit

EMI Protection

EMI Protection

Engine Protection Cover

Engine Protection Cover

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टू व्हीलर इंश्योरेंस हिंदी में
Add-Ons

Frequently Asked Questions

  • Q. How to Calculate the Bike Insurance Premium in India?
    • The premium of a bike/two-wheeler insurance policy depends on a number of factors like the type of bike insurance plan, the make, model and variant of the bike, RTO location, bike registration city, etc. You can calculate the insurance premium for your bike instantly at our Coverfox.com platform

  • Q. How to Calculate the Value of my Bike for Insurance?
    • The Insured Declared Value of a bike refers to the maximum Sum Assured which an insurance company is liable to pay to the policyholder in case of theft or total loss (more than 70% damage) of the bike. Thus, IDV is the current market value of the bike.

  • Q. How to Calculate Insurance Premium on Second-Hand Motorbike?
    • Like a new bike, the insurance premium of a second-hand bike also depends on a number of factors like the make, model and variant of the bike, the type of plan chosen, bike registration city, etc. However, in case of a second-hand bike, the insurance premium is relatively higher as the premium amount also depends on the age of the bike.You can calculate the insurance premium for your bike instantly at Coverfox

  • Q. How is The Insurance Value Of a Bike Calculated?
    • The Insured Declared Value of a bike refers to the maximum Sum Assured which an insurance company is liable to pay to the policyholder in case of theft or total loss (more than 70% damage) of the bike. Thus, IDV is the current market value of the bike.

  • Q.How Much is Bike Insurance a Year?
    • Bike Insurance premium is based on various factors like make, model, age, location of the bike, choice of coverage, driving & claim history. The cheapest policy available in India is Third party liability cover. Policyholders should assess their insurance needs and they should opt for the best policy as per their needs.

  • Q. How is IDV Calculated?
    • IDV is calculated as the manufacturer's listed selling price minus depreciation. The registration and insurance cost are excluded from IDV. The IDV of the accessories which are not factory fitted, are calculated separately at extra cost if insurance is required for them.

  • Q. How is NCB Calculated For Two Wheeler?
    • It is extremely important to note that NCB exclusively applies to the Own Damage component of your premium, which is the premium calculated based on IDV or insured declared value of the bike minus the cost of bike's wear and tear.

      Claim free yearsNo Claim Bonus
      After 3 years35%
      After 4 years45%
      After 5 years50%

  • Q. What is NCB Percentage?
    • When the insurance company takes note of you riding your bike safely and not raising any claims during the policy period, it awards you with a discount called No Claim Bonus also known as NCB in two-wheeler insurance. You can get up to 50% discount on the bike insurance premium amount for not raising any claims.

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Written By: Coverfox - Updated: March, 2023.
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