Two wheeler bike insurance policies is an agreement between the insurance company and the insured customer wherein the insurance company agrees to settle the claim of the insured customer in case of any accident or loss in return for a considerable amount known as “Premium”. The premium paid by the insured customer for the coverage of his/her two wheeler motorcycle is known as two wheeler insurance premium. The two wheelers such as Scooty, Bikes etc. are covered under the two wheeler insurance policies. India is one of the south Asian countries which have the highest usage of two wheelers or motorcycles or bikes.
The total numbers of two wheelers sold in India in 2020 are 22 Million which is by far the highest for any motor vehicles sold in India. The highest sales of the two wheelers in India constitute to the fact that these bikes are affordable and easy to rider on Indian roads whereas cars are still viewed as luxury products in India. Most of the European and Western countries have more number of cars when compared to the two wheelers whereas the scene is reverse in India. The insurance premium for two wheelers in India is less when compared to the four wheelers as the insurance premium is mainly dependent on the cubic capacity of the vehicles.
Most of the two wheelers used in India are below 500cc where as the basic cc of a car starts from 800cc. Hence there would be a great premium difference between the two wheelers such as Bikes, Scooters and Four wheelers such as Cars, Lorries and others. The insurance premium for two wheelers can be calculated using our online portal by entering the basic details such as Make, Model of the bike, and Year of registration, RTO location etc and proceeding to the premium section.
The two wheeler / Bike insurance premium calculator can be used to compare the premiums from different insurance companies and the best premium can be selected from among the insurance companies. The bike insurance premium is determined by the cubic capacity, make and model, year of registration and the RTO location.
How to calculate your two wheeler insurance premium?
Step 1: The first step in using the two wheeler insurance premium calculator is to click on the online bike insurance premium calculator and proceed to the data entry.
Step 2: The next step in using the bike/two wheeler insurance premium calculator is to enter the below details clearly and correctly.
- Make and model of the two wheeler – Bajaj is the Make while Platina is the Model
- Enter the RTO in which the two wheeler is registered
- Enter the registration date of your two wheeler/bike.
Step 3: In this step you can enter your requirements such as:-
- Registration Type - Individual name or Company name
- Manufacture month and year
- Expiring policy type – Comprehensive or Third party
- Previous policy expiry date
- Previous insurer
- Previous policy number
- PUC Availability – Yes or No
- Claims made status- Yes or No
- Previous No Claim bonus- 0% to 50%
- Insured Declared Value – Can be adjusted between the Maximum and Minimum limits
- Filter for add-ons, only third party quotes or Comprehensive quotes.
- Premium will be displayed for 1 year, 2 year and 3 year by few companies known as Long term two wheeler insurance.
Step 4: This is the last and final step where you need to make payment to the insurance company and it only takes a few minutes to finish this process. The premium figure displayed may be changed subject to the medical underwriting. Once the premium payment is made, the customer receives confirmation regarding the same and there may be a requirement to undergo certain medical tests depending on the declaration made in the proposal form.
Benefits of Online Two wheeler insurance calculator
You can check your bike insurance premium using the two-wheeler insurance premium calculator online Two Wheeler Insurance. There are many benefits of bike insurance premium calculator. Let us understand the benefits and demerits of life insurance premium calculator:
- Quick Premium:
Bike insurance premium calculator is very easy to use. Your bike insurance premium can be obtained on 2 easy steps; the first step is to enter the basic details such as Make, model, Date of registration, RTO location etc. Then in the next step the bike insurance premiums from different insurance companies will be displayed on the screen. You can adjust the sum insured as per your requirement and affordability; opt for extra coverage in the form of add-ons and click on proceed to payment.
- Compare & Save:
Another advantage of two wheeler insurance premium calculator is that these calculators can save ample time of the users. If the premiums are to be calculated using offline rater, it would take much time as it involves manual calculations. Most of the people prefer to use online bike insurance premium calculators to save time and energy.
- Less room for error:
Online bike insurance calculators reduce the human involvement to a great extent as the comparison is done by a machine. Lower the human involvement, lower would be the room for error. The entry of online bike insurance calculators has reduced the dependency on agents and increased the efficiency. We can get the premium anytime of the day or night using the online bike insurance calculator which is not possible with the agents. There are no definite working hours when the online bike insurance calculator is involved.
The online two-wheeler insurance calculator saves you the tedious process of getting in touch with an agent every time you need to calculate your bike insurance premium. Online bike insurance calculator can be used to calculate the bike insurance premium any number of times which eliminates the tired factor which can be observed with an agent.
For online two-wheeler bike insurance premium calculator please visit Two Wheeler Insurance and get the best bike insurance quotes from the top general insurance companies.