Procuring good two-wheeler insurance for bike is must for every bike owner. It is advisable, even before you buy your favorite bike, you should determine the insurance policy you are going to have for your vehicle. It will be wise on your part to insure your vehicle from unwanted theft, accidents and damage.
There are several bike insurance policies available in the market for various models of two-wheeler. Now, it might seem to you a little confusing which two-wheeler insurance plan you actually need. To make your insurance quest easier, bike insurance calculator has brought an easy getaway to:
- Compare and choose the best insurance premium quotations for your two-wheeler.
- Chalk out the exact premium you are going to pay towards your bike insurance
- Give you bike premium estimate online without charging any fee.
In order to use the bike insurance calculator you will just need the following things to know:
- The model number of your bike
- Whether or not your previous bike policy expired.
Advantages of Bike Insurance Calculator
The bike insurance calculator has made easy the process of getting the best insurance cover for your vehicle.
- Bike insurance calculator is actually a device which provides you instantaneous insurance premium estimation and allows you to compare between various policies, thus, help you choosing the most suitable insurance security for your vehicle.
- Since you can use it online, it is time saving and convenient.
- You can totally trust the estimation given by the two-wheeler insurance calculator because it prepares quotes based on information provided and not under anyone’s influence.
- You can calculate your bike premium by your own here, so, you do not need to pay out commissions to your insurance agent.
- You can get your premium estimation online without any fee.
- You do not need any documents for checking it online.
Importance of Bike Insurance Policy:
A bike insurance policy works just like the same way any other insurance plan works. Its sole purpose is:
- To provide necessary cover to your vehicle against any damage or loss,
- To protect your bike from road accidents, theft, damage, etc,
- To provide coverage to the third party in case damage is caused by your vehicle.
- To drain out your worry about the safety of your bike.
Calculation of Two-Wheeler Premium Using Bike Insurance Calculator
The amount of sum you contribute to maintain your bike insurance policy is called two-wheeler insurance premium. You no more need to rush to your insurance agent to determine your insurance premium amount. You can now calculate the premium on your own from the comfort of your home using bike insurance calculator. It is handy to use. You just need to insert the required information in the given fields:
- Insured Declared Value (IDV) of your two-wheeler. Remember, this value will be received by the bike owner at times of theft or damage of the bike from the insurer.
- The cubic capacity or cc of your bike model.
- The zone in which your bike has been registered.
- Your bike’s age.
Decisive Factors of Your Bike Insurance Premium
There are several aspects which can affect your bike insurance policy premium while calculating via bike insurance calculator. Check out various benefits and cover you can avail with your bike insurance plan:
- IDV – Insured Declared Value is the promised sum of money which is received by the owner of the bike from the insurance company in case of any accident, damage or burglary. The insurer calculates this ID value from the deflated value defined in the listed price of the showroom. However, this does not give coverage to insurance and registration expenses.
- Model of Bike – The premium of the bike is directly depended on the bike model you choose. The premium amount is larger for the finest models of bike in comparison to the regular models. You need to pay greater premiums for high-end models of bike.
- Age of Bike – The bike insurance premium amount is inversely depended on the age of the insured vehicle. Greater the age of the bike, lower the ID value and lower premium you need to pay for your insurance.
- Age of Biker – The premium is also directly depended upon the age of the bike owner. For younger bike owners the premium amount will be higher than older bike owners.
- Deductible Amount – This amount is paid out by the insurance holder. The greater deductible amount you choose to pay, lesser you need to contribute for premium.
- Anti-Theft Rebate – A discount on premium will be received on installing anti-theft device on your bike.
- CC of Bike – Higher the cc of bike, larger will be the premium.
- Location – If the policy holder lives in big cities and metropolitan cities then the insurance premium is higher.
- Bonus on No Claim – You can receive bonus for not claiming any expense from your insurance plan.
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