Two-Wheeler Insurance Calculator
Two-wheeler insurance is one of the essential things that you need to buy for your bike, scooty, or scooter. But finding the best two wheeler insurance can be a very difficult task for anyone as there are many insurance companies in India providing bike insurance. In this situation, a two wheeler insurance calculator can be a useful tool as you can compare different two wheeler insurance at a time along with its benefits and features.
What is Two Wheeler Insurance Premium Calculator?
Two Wheeler Insurance Premium Calculator is an online tool designed to check the estimated premium amount for your Two Wheeler Insurance policy. To find out the premium amount you just need to enter a few details like the make of your bike, type of bike, model of bike, year of purchase of a bike, RTO location of bike, etc.
The most important feature of two wheeler insurance premium calculator is that it helps you to compare the quotes of different two wheeler insurance plans which will help you in taking the right decision about your two wheeler insurance plan. A two wheeler insurance calculator is a reliable and free tool that helps you buy the best bike insurance policy for yourself.
Benefits of Two Wheeler Insurance Premium Calculator?
A two wheeler insurance premium calculator is a tool that helps you to check the estimated premium amount for your two wheeler insurance policy. Below mentioned are some of the benefits of the bike insurance premium calculator:
Selection of Perfect Plan
Bike Insurance Premium Calculator allows you to find premium quotes of various two wheeler insurance plans at a time. Hence, it helps you to buy an insurance policy that falls within your budget.
Check the Ideal IDV
Two Wheeler Insurance Premium Calculator helps you to check the ideal IDV of your bike. The Insured Declared Value or IDV is the maximum amount that your insurance company will pay you at the time of claim.
Right Pickings of Add-on Riders
Add-on riders enhance the coverage benefits of your basic plan at some additional premium amount. You can use the bike insurance premium calculator to check how add-on riders affect your premium amount.
Two wheeler premium calculator saves you time in comparing different two wheeler insurance. You just have to enter a few details and requirements and two wheeler insurance calculator provides a premium quote within a few minutes.
How Two Wheeler Insurance Premium Calculator Calculate Premiums?
D2C Insurance Broking Private Limited (“RenewBuy”) Bike Insurance Premium Calculator helps you to calculate the premium of your bike insurance policy. The cost of two wheeler insurance premium is determined by several factors such as coverage benefits, brand, model, variant, registration year, and so on.
Third party bike insurance premiums are determined as per IRDAI guidelines, while standalone own-damage and comprehensive bike insurance premiums are determined by two-wheeler insurance companies and vary on the specifications of the policyholder's bike.
Below are the third party bike insurance premium rates applicable from 1st June 2022 as per IRDAI guidelines:
|Third Party Bike Insurance||Premium Rates|
|Up to 75cc||INR 482|
|75 cc to 150 cc||INR 752|
|150 cc to 350 cc||INR 1193|
|More Than 350 cc||INR 2323|
Two Wheeler Insurance Premium Calculator for Used/Old Bikes
Below mentioned are the important details that you need to enter to calculate the premium of an insurance plan for a used/old two wheeler:
- Make, model and variant of vehicle
- Fuel type of the vehicle
- Current policy details of two-wheeler insurance (if any)
- Registration state and city of two-wheeler
- Previous claim file reports and details of No-claim Bonus (NCB)
You just need to enter the above-mentioned details in the two wheeler premium calculator to calculate the estimated premium amount of your two wheeler insurance plan.
Two Wheeler Insurance Premium Calculator for New Bikes
Below mentioned are the important details that you need to enter to calculate the premium of an insurance plan for a new two wheeler:
- Name of the vehicle manufacturer
- Manufacturing year of the vehicle
- Model of the vehicle
- Model variant of the vehicle
- Registration state and city
Two wheeler premium calculator calculates the premium amount that you need to pay for your two wheeler insurance and helps you to choose the best-suited bike insurance plan for your vehicle.
Comprehensive Two Wheeler Insurance Premium Calculator
A comprehensive two wheeler insurance premium calculator is used to estimate the premium amount for a comprehensive two wheeler insurance plan. Comprehensive two wheeler insurance covers both own damages and contingent liabilities of third parties. Thus, a comprehensive two wheeler insurance calculator helps the owner of the vehicle in determining the amount of premium charged by motor insurance companies for comprehensive bike insurance policies.
Below mentioned are some of the important components of a comprehensive two wheeler insurance calculator:
- Age of the vehicle
- Insured Declared Value (IDV)
- Own Damage Cover
- Personal Accident Cover
- Third Party Liability Cover
- No Claim Bonus (NCB)
- Additional Riders or Add-on Riders
Two Wheeler Third Party Insurance Premium Calculator
Two Wheeler Third Party Insurance Premium Calculator is used to check the premium amount to be paid for your third party bike insurance policy. Third-party bike insurance is a type of two-wheeler insurance that specifically covers third-party liabilities. Using Two Wheeler Third Party Insurance Premium Calculator helps the vehicle owner to compare the premium amount of various third party bike insurance plans.
Below mentioned are some of the important components of Two Wheeler Third Party Insurance Premium Calculator:
- Third party liability cover
- Cubic capacity of the vehicle or CC of the vehicle
- Personal accident cover
Factors Affecting Two Wheeler Insurance Premium
Below mentioned are the factors that can affect your two wheeler insurance premium:
Age of the Vehicle Owner
Two-wheeler drivers under the age of 25 are more likely to be involved in an accident or other incident than riders above the age of 25. Hence, vehicle owners aged 18 to 25 years will have to pay a higher premium amount. compared to others.
The premium for a two wheeler is based on the location where the insured lives. For example, vehicle riders living in high-traffic areas such as metro cities are charged a higher premium than those living in low-traffic areas.
Insured Declared Value
The insured Declared Value is the highest amount that the insurance provider will pay to the two wheeler owner in case of theft or constructive total loss. IDV may vary on various factors like brand, model, manufacturer's selling price, RTO information, and other factors. A higher premium accompanies a higher IDV.
Cubic Capacity or CC
Cubic Capacity or CC is another factor that affects the premium amount. A two-wheeler with a higher cubic capacity is charged a higher premium than the smaller one.
The two wheeler insurance premium is also affected by the model, make, and the variant of the vehicle. The premium of a new two-wheeler is higher than the old two-wheeler.
How to Reduce Two Wheeler Insurance Premium?
The two wheeler insurance premium calculator helps you to check the premium amount of your two wheeler insurance policy. Below mentioned are the tips to reduce two wheeler insurance premium for your vehicle:
Use Online Medium
Buy your two wheeler insurance plan using online medium is less expensive than offline. Some motor insurance companies offer various discounts and also you can compare several two wheeler insurance plans at a time.
Install Anti-Theft Device
Policyholders who have installed an Automotive Research Association of India (ARAI) certified Anti Theft device in their vehicle will have to pay a lower premium amount.
Multi-Year Policy Tenure
Always buy an insurance plan for a multi-year policy term. A policy with a multi-year policy term is always cheaper than a policy with a policy term of 1 year. Apart from this, you will also get rid of the hassles of policy renewal.
Always renew your two wheeler insurance policy before it expires. Timely renewal of your two wheeler policy will help you get various discounts on the premium amount.
How To Use D2C Insurance Broking Private Limited (“RenewBuy” )Two Wheeler Insurance Premium Calculator?
RenewBuy has its own bike insurance premium calculator on its website. It offers a simple and quick premium calculation process that will help you calculate the policy premiums efficiently. Below mentioned are the steps that you need to follow to calculate the two wheeler insurance premium:
- Go to the “RenewBuy” bike insurance premium calculator page
- Fill in the details in the form provided to you
- The details you need to provide include vehicle model, year of purchase, registered RTO, etc.
- Add the pin code of the city that you belong to
- Hit ‘Instant Quote’ to view the quotes of different policies
- You can also customize the quotes according to riders, plan benefits, and other information
Two Wheeler Insurance Plan Buying Process
You can buy your two wheeler insurance policy from the insurance company’s official website as well as from “RenewBuy.com”. Below mentioned are both the buying process of a two wheeler insurance plan:
Buy from the official website of the insurance company
- Visit the insurance company’s official website and click on the “Bike Insurance” tab.
- Select the desired plan.
- Fill in all the required information.
- Click on Buy Now button.
- Make payment.
- The insurance company will send the policy documents to your email address.
Buy from “RenewBuy.com”
- Visit the official website of RenewBuy.
- Click on the “Motor Insurance” tab.
- Then, select the “Two Wheeler” option.
- Fill out the form that shows on the next page.
- Compare different two wheeler insurance plans and select your desired plan.
- Click on the “Buy Now” button
- A pop-up will show you the plan details and the additional riders information.
- Click on the “Proceed to Buy” button.
- Make online payment and the policy documents will be sent to your registered email address.