Bike Insurance Calculator

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1. A two-wheeler insurance calculator helps you identify the policy that is ideal for you.

2. You can compare different bike insurance policies online, and hence from wherever you are.

3. This motorcycle insurance calculator offers insurance quotes for free.

4. Eliminates the involvement of a middle man (eventually reducing the cost).

5. Facilitates faster process and reduced paperwork.

6. It helps you recognise the factors that affect your premium amount.

Factors that Determine Your Bike Insurance Premium

It is mandatory for the owner of a bike or a scooter to purchase bike insurance. Insurance companies offer two types of two-wheeler insurance, third-party insurance policy and comprehensive insurance policy. The third-party bike insurance policy extends assistance for the legal liabilities ensued from the loss/damage caused to the third-party.A comprehensive bike insurance policy provides coverage to the damage caused to you and your vehicle due to accidents, natural calamities, or man-made damage.Along with that, it also covers third-party liabilities.

To avail financial assistance from an insurance company, you need to pay a premium (a lump sum amount) annually. The premium of an insurance policy differs from vehicle to vehicle, because there are various factors that influence your premium amount.

1 Bike Model and Make Your two-wheeler insurance premium amount is calculated on the basis of Insured Declared Value (IDV). IDV is the current market value of a vehicle; if your vehicle is stolen or completely damaged due to an unlikely event, the IDV is an indemnification offered by the insurance company. If you own a high-end bike, your IDV, and thus your premium, will be higher.
2 No Claim Bonus You are entitled to receive a discount if you have not made any claim throughout your policy period. If you make no claims for 5 consecutive years, you will receive a 50% discount on the sixth year.
3 Condition of the Vehicle The amount you will have to pay for your two-wheeler insurance policy also depends on the age and type of your vehicle, cubic capacity of its engine etc. Factors such as year of manufacturing, place of registration, fuel type, modifications made, showroom cost etc. also play a major role in determining your premium amount.
4 Deductibles Deductibles are the amount you agree to bear in case of any damage. For example, Insured A is ready to pay for 30% of the damage from his own pocket. If he has faced a loss of ₹100,000, he will have to pay ₹30,000 and ₹70,000 will be borne by the insurer. Higher the deductible amount, lower the premium amount.
5 Age of the Insured It is believed that the rate of accidents is higher amongst younger riders, while people above the age of 25 are considered more experienced. If your age is between 18 to 25, you are most likely to pay a higher premium.
6 Unnecessary Add-On CoversThe premium amount is bound to increase if you apply for covers like zero depreciation cover, cashless hospitalisation, medical cover etc. It is advisable to choose only the required add-ons to have a lower premium amount. For example, do not opt for medical cover if you already have a health insurance plan covering your medical expenses.
7 Anti-Theft Add-On Insurance companies provide an additional discount of 2.5% if you have installed an ARAI anti-theft device in your vehicle.

If you want to examine two-wheeler insurance quotes via a bike insurance calculator, you need to provide your vehicle’s registration number on the insurance provider’s website.

In case you do not know your vehicle’s registration number, you need to provide the following information:

1. Details of the manufacturer

2. Details of registration

3. Details of the model and variant of your two-wheeler

4. Cubic Capacity

Cholamandalam MS, a General Insurance Company in India, offers a wide range of insurance policies for individuals and corporates.

For individuals, there are products like Car Insurance, Travel Insurance, Two Wheeler Insurance, Health Insurance, Personal Accident Insurance, Crop Insurance and Home Insurance. For SME's and Corporate Insurance clients, Chola MS offers customized insurance solutions encompassing insurance and risk consulting services such as Group Mediclaim Insurance, Group Personal Accident Policy, Engineering Projects Insurance, Engineering Operations Insurance, Liability Insurance, Marine Insurance, Fire Insurance and other Miscellaneous Insurance Solutions.

All Rights Reserved. Cholamandalam MS General Insurance Company Ltd. Insurance is the subject matter of solicitation. Reg office: 2nd Floor, "Dare House", No.2, NSC Bose Road, Chennai - 600001, India. IRDAI Registration Number : 123. Trade logo displayed above belongs to ‘CHOLAMANDALAM FINANCIAL HOLDINGS LIMITED” (formerly known as TI financial holdings limited) and Mitsui Sumitomo Insurance Company Limited and used by Chola MS under license. CIN : U66030TN2001PLC047977.

Important Message: By submitting your contact information on forms on our website, you agree to be contacted by our Customer Service Representatives.
The advertisement contains only an indication of cover offered. For more details on risk factors, terms, conditions and exclusions, please read the sales brochure carefully before concluding a sale

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