How To Calculate Premium with Bike Insurance Calculator?

How To Calculate Premium with Bike Insurance Calculator?

We all have surely heard about the Bike Insurance Calculator but exactly don’t know much about it. if you have purchased a new bike and decide to purchase an insurance plan then your neighbor would have surely suggested you check the premium on the Bike Insurance Calculator.   Also, if you have ever checked any bike insurance online, then you will get to see a flash message on the screen of the Bike Insurance Calculator.

A Bike Insurance Calculator is basically a software that will calculate the premium of your vehicle depending on the age, model, and variant. This software will give you the exact calculation of the premium according to the coverage you opt for your bike.

You have to enter the details of your bike and some information on the software to calculate the exact premium. Buyers can also compare the prices of multiple two-wheeler insurance companies. Moreover, if you want to renew your insurance plan then you can also enter your no claim bonus duration to get a discount.

The process to calculate the two-wheeler insurance premium:

If you are going to purchase a bike insurance policy for the first time then make sure to calculate online premiums. You can follow the below steps to calculate bike insurance premium:

  • Enter the model number, variant, and registration number of your vehicle.
  • Confirm the location of the RTO where you have registered your vehicle.
  • Choose whether you want to purchase a new plan or want to renew your policy. Also, choose if you want to opt or eliminate any coverage from the policy.
  • Click on the ‘Get Quotes’ to see the premium of all leading two-wheeler insurance companies.

Key features of some famous bike insurance companies:

There are more than 25 two-wheeler insurance companies that are currently active in India. Each insurance company has their unique clauses and features depending on their customer base. Some of them provide attractive discounts while others have a good settlement ratio. Also, each and every company has their own criteria to calculate the annual premium of the bike. Here we are providing the Key features of the best two-wheeler insurance companies.

National Two-Wheeler Insurance:

This company is better known for its uninterrupted long term plans.

  • Customers can purchase comprehensive insurance policies from this insurance company for optimum coverage.
  • You can purchase an insurance policy for more than 5 years for your bike.
  • Buyers can avail up to 7.5 lakh of Third-party liability coverage. The insurance policy will cover the death, disability or injuries caused to third-parties
  • The loss caused due to theft is covered in the policy.
  • It has incurred a claim settlement ratio of 79.68%.
Reliance Two-Wheeler Insurance:

The Reliance insurance company is doing well in the insurance sector since its inception. It is one of the leading insurance providers companies.

  • The reliance insurance company has an incurred claim settlement ratio of 81.47%.
  • It provides cashless claim settlement at network garages.
  • The customer will claim a daily allowance of Rs. 5,000 in case their vehicle is not repaired within 3 days.
  • Customers can purchase a maximum three-year plan for their bike.
  • The company provides a personal accident cover of 15 lakhs.
  • You can opt for depreciation coverage at comparatively low prices.
Bharti AXA Two-Wheeler Insurance:

This insurance company provides comprehensive coverage for all types of losses. It holds an incurred claim settlement ratio of 81.74%.

  • The policy can cover all the natural as well as manmade disasters.
  • It provides additional personal accidental and third-party liability coverages up to 1 lakh.
  • Buyers can purchase additional depreciation coverage along with the basic policy.
  • The premium of third party coverage depends on the capacity of the engine and varies from Rs. 482 to Rs. 13,034.
  • You can also avail of no claim bonus for not making any claim.
HDFC Ergo Two-Wheeler Insurance:

This insurance company provides multiple coverage options.

  • You can take either a comprehensive, third party or long term plan as per your requirement.
  • Customers will get default depreciation coverage along with long term and liability plans.
  • Policyholders can make unlimited claims in comprehensive policy taken from HDFC ergo bike insurance company.
  • This company will cover third party losses of up to Rs. 7.5 lakhs.
Shriram Two-Wheeler Insurance:

Customers can purchase or renew two wheeler insurance online from the Shriram insurance company.

  • This company will cover all the damages and losses caused by accidents, disasters, and terrorist acts.
  • You can get third-party liability coverage of up to 1 lakh.
  • This insurance company has a good record of claim settlement.
  • You can take a personal accident cover of up to 2 lakhs.
  • This company is also known for its 247 claim settle service.
Royal Sundaram Two-Wheeler Insurance:

This company provides a wide personal accidental coverage for valued customers.

  • Customers can take a maximum of a 3-year plan from Royal Sundaram Two-Wheeler Insurance company.
  • If you shift your existing policy to this company then the no claim bonus will be transferred automatically.
  • Customers can contact the toll-free number of the company to register a claim.
  • Buyers can take no claim bonus benefit even after making a maximum one claim in a year.
  • The bike rider will get coverage of 1 lakh in case of an accident.
SBI Two-Wheeler Insurance:

Customers will get mandatory third-party liability coverage on purchasing a bike insurance plan from SBI 2 Wheeler Insurance company.

  • Customers can avail no claim bonus of up to 50 %.
  • The SBI Two-Wheeler Insurance policies will not cover normal wear and tear damages.
  • Customers can also opt for Personal accident covers of up to Rs. 1 lakh for the co-driver.
The need for a Bike Insurance Calculator:

There is more than 25 bike insurance companies working in India. So, it becomes very difficult to visit each and every website and remember their premiums. So, the Bike Insurance Calculator is a third party website that shows you the quotes of all insurance companies. It has a tie-up with all the leading insurance providers.