Two-Wheeler Insurance Premium Calculator

Buying the right insurance policy is almost as crucial as buying the right bike – it’s important and requires a lot of groundwork. That is precisely why it becomes important not to choose a policy only based on the premium!

In fact, there are a host of other factors that are vital while buying insurance; and ignoring some might also end up making you lose a lot in the bargain.

A neat trick to selecting the apt insurance plan for your bike is to understand the kind of cover you need and the least premium you need to pay for it.
So take a quick deep breath as you polish your bike, and read through these other factors that are considered while calculating your premium.

Factors that decide your premium

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 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

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

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

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

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

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

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

Calculating your premium online

Want to know the benefits of calculating your premium online? Here are three of the most important ones:

It’s simple. Buy your insurance in a matter of a few clicks, nothing more – it’s that easy and hassle-free!
A range of options. Compare different types of policies and choose one that perfectly matches your requirement!
No Paperwork Yes, there’s no paperwork required to be done, when you calculate and buy your insurance online.

But why is it important to calculate premium before you buy insurance policy?

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.

But then again, if that still doesn’t work, here are a few more benefits of calculating your premium:

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!

You don’t have to be a Mathematician to calculate your two wheeler insurance premium. Get insurance premium quotes customized to suit your needs with Coverfox.com.

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Two-Wheeler Insurance Premium Calculator

Factors that decide your premium

Calculating your premium online