A two-wheeler insurance policy is a regulatory requirement and cannot be skipped, especially by a bike owner. The Motor Vehicles Act of 1988 makes it mandatory for all vehicles registered in the country to have an insurance cover, and two-wheelers are no exception to this rule. When buying a two-wheeler, its insurance cover can either be purchased among the handful of alternatives offered by your dealer or directly from the insurance company. Buying a policy directly from the insurer has its advantages.
When it comes to buying from the insurance company, you have two alternatives—to buy bike insurance online
or choose the traditional offline mode. Using the online alternative is faster, as you no longer need to visit the insurance company’s office to buy a plan. Moreover, an online purchase helps to choose a policy among the myriad of insurance plans, thereby letting you avail nothing but the best insurance coverage.
In addition, online policy purchase enables you to take advantage of a nifty tool known as the bike insurance calculator. With this tool, you can not only compare insurance plans offered by the same insurance company, but also by other competitors. Thus, you can avail of a suitable insurance cover based on your requirement and your budget. A highlight of such a two-wheeler insurance premium calculator is that it is available online and free is to use. So, you need not download applications either on your mobile or desktop to know the premium amount.
How to compute your two-wheeler insurance premium amount online?
Calculating the estimated two-wheeler insurance premium is a simple five-step process. It is as follows:
Locate the two wheeler insurance premium calculator
on your insurer’s website.
Input details about your bike, its model and make, including its registration details like state and year of registration.
Enter any details about the accumulated no-claim bonus, if any, from the previous insurance company. To transfer such an accumulated NCB, you will be required to obtain an NCB transfer certificate from your previous insurance company.
Select details about the type of policy, along with any additional insurance covers selected. For instance, you can choose a personal accident cover as well as add-ons for applicable policy types.
Hit the submit button to receive the computed amount of premium based on the policy features you have selected.
* Standard T&C Apply
What are the advantages of using a two-wheeler insurance premium calculator?
- A two-wheeler insurance premium calculator helps you make an informed decision, not just about selecting the right type of policy—third party bike insurance or comprehensive insurance—but also about suitable insurance coverage within.
- You can get an idea of which factors have a direct bearing on the premium calculation.
- Knowing the approximate amount of premium helps to plan your purchase in an organised fashion.
- Since no intermediaries like insurance agents are involved, the buying decision is unbiased and completely yours.
* Standard T&C Apply
With these simple steps, it is a quick hassle-free process to not just know your premiums but also compare similar insurance plans. So, take full advantage of this handy tool the next time you are buying an insurance policy for your bike. Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.