Bike Insurance Calculator

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Disclaimer:Tata Capital Limited (“TCL”) registered with IRDAI (License No. CA0896, valid till 21-Jan-2027), acts as a Corporate Agent “Composite” for Go Digit General Insurance Limited. Please note that, TCL does not underwrite the risk or act as an insurer. For more details on the risk factors, terms and conditions please read sales brochure carefully of the Insurance Company before concluding the sale. Participation to buy insurance is purely voluntary.

The Registered office of TCL is Tata Capital Limited, 11th Floor, Tower A, Peninsula Business Park, Ganpatrao Kadam, Marg, Lower Parel, Mumbai-400013.
The Registered Office of Go Digit: Go Digit General Insurance Limited, 1st Floor, Fairmont, Hiranandani Business Park, Powai, Mumbai – 400076.

Calculate Two-Wheeler Insurance Premium Instantly Online

What is a Bike Insurance Calculator?

A bike insurance calculator is an online tool to help you generate the right Two-Wheeler Insurance premium for your two-wheeler. To get your final bike insurance premium, all you have to do is enter your bike's make and model, registration date, the city you ride in, and of course, the type of bike insurance plan you want to go for, and the bike insurance calculator will help generate the right quote for you. You can further customize this by opting for additional covers and adding your accumulated No Claim Bonus.

Why is It Important to Use a Bike Insurance Calculator?

It is tempting to pick the cheapest bike insurance quickly, but choosing the right policy is smarter. A bike insurance premium calculator can help you decide

How to Use Bike Insurance Premium Calculator?

Use the bike insurance calculator to check premium quotes for new or old bike insurance plans. Follow these steps to use it and find the right coverage for your bike.

Enter Bike Details

On the Digit App or website, enter your bike’s registration number and click on "View Prices".

Choose a Plan

Select the type of bike insurance plan and choose desired add-ons.

Enter Personal & Nominee Details

Enter your personal, nominee and vehicle details.

Previous Policy Details

Enter details of previous insurer and expiry date of the previous bike insurance policy.

That's It!

You will now see your final bike insurance policy premium calculated.

Benefits of Using Bike Insurance Calculator

Right IDV

Smart Add-Ons

Best Premium

Having the correct insured declared value ensures fair compensation in case of total loss or theft. A bike insurance calculator helps you set the right IDV based on your bike’s specifications.

Choosing suitable add-ons gives your policy extra protection. The calculator shows how each add-on affects your premium, helping you select the right mix for your needs and budget.

Using a bike insurance calculator, you can compare premium quotes easily. This helps you find a plan that is well priced and tailored to your requirements.

Comprehensive Bike Insurance Premium Calculator

Read more about the Important Components of a Comprehensive Bike Insurance Premium.

Third-Party Bike Insurance Premium Chart

The third-party bike insurance premium is charged based on a bike’s engine capacity. Let’s have a look at the prices for the year 2019-20 vs 2022

Engine Capacity	The Premium for 2019-20 in INR	New 2W TP Rate (effective 1st June 2022)
Not exceeding 75 cc	₹482	₹538
Exceeding 75cc but not exceeding 150 cc	₹752	₹714
Exceeding 150cc but not exceeding 350cc	₹1193	₹1366
Exceeding 350 cc	₹2323	₹2804

Third-Party Bike Insurance Premium Calculator

The Third-Party Bike Insurance is the minimum kind of bike insurance you’ll need as per the Motor Vehicles Act. It covers only damages and losses against third parties, such as if your bike hits a person, damages a property, or damages another vehicle.

Bike Insurance Premium Calculator for New & Old Bikes

Aspect	New Bikes	Old Bikes
Premium Nature	Transparent calculation based on bike details and add-ons	Lower premium due to depreciation and limited add-ons
Requirements for Calculating Insurance Premium	Make, model, and variant, Date and city of registration, Add-on covers, Manufacturer name, Year of manufacture, and Deductibles	Make, model, and variant, Date and city of registration, Claim history or No-Claim Bonus (NCB), Depreciation value, and Current policy details if any
Add-on Scope	Wide range of add-ons available	Limited add-ons. Older bikes are not eligible for covers like zero depreciation or return to invoice

Factors Determining Two-Wheeler Insurance Premium

Let's see the factors that influence the two-wheeler insurance premium:

Coverage Type - The type of coverage or insurance policy you opt for determines the premium amount. It will be higher for a comprehensive insurance policy than for a third-party policy.
Make & Model - The model/make of your bike also influences the bike insurance premium. A more expensive or high-end/imported bike will have a higher premium, as the cost of insuring its different parts would be higher. Additionally, less cubic capacity (cc) of the bike’s engine will fetch a lower premium amount than a bike with 350 cc or more.
Bike Age - If you’re renewing insurance for your old bike, the insurance calculator will consider the bike’s age and condition to quote a base premium amount (excluding NCB, Discounts/loading, etc.). The older the bike, the more the depreciation; hence, the insured sum will be low, and you will need to pay less base premium.
IDV - Your bike’s approximate market value, the IDV, directly impacts your bike insurance premium. So, if the IDV value of your bike reduces, your premium amount also reduces.
NCB - If you haven’t raised any claim in a policy year, the insurer offers you a discount in the form of a No Claim Bonus (NCB), which ultimately lowers your premium for the following policy year.
Add-Ons - If you opt for add-on covers to increase the scope of bike coverage, you will have to pay more, thus increasing your base premium amount.
Modifications - If your bike has modifications to enhance its aesthetic or performance, you will have to pay a higher insurance premium to cover the costs of these parts.
RTO - If your vehicle’s RTO location is traffic-congested or more prone to accidents, you are liable to pay a higher premium.

Tips to Reduce Your Bike Insurance Premium

Here are some tips and tricks to help reduce your bike insurance premium.

FAQs related to Bike Insurance Calculator

All

What is voluntary deductible in two wheeler insurance and how is it beneficial?

Firstly, when you make a bike insurance claim, and it is cleared, there are two parts to the total claim payment made. One part is paid by us and other by you, your part is called an excess or a deductible. It can be a combination of compulsory (which is compulsory of course) and voluntary. Voluntary one is the additional amount you choose to pay during a bike insurance claim, over and above the amount that we have set for you to pay (the compulsory one). Why do people choose voluntary deductible? People use it to bring down their two wheeler insurance premium.

Tip: Don’t get greedy and use this feature just to lower your two wheeler insurance premium. The best case to use it is only when you are at a good 50% No Claim Bonus level (i.e. not claimed since 5 years). This means you have a lesser probability to make a claim and you can reduce your two wheeler insurance premium.

What is compulsory excess in two wheeler insurance?

Compulsory excess is another word for deductible – the amount you pay as your part of the claim.

What do I need to consider before switching my insurance company online?

Important aspects to be considered before purchasing any policy are:

Speed of claim settlement- You don’t want to wait for your money, right?
Approachability- Again, hours of waiting to talk to the customer care is not done!
Cashless option for your two wheeler repairs
Network connectivity- Not your phone one but the service center network.
Claim settlement history of the company.

Do I need to submit any hardcopies during the purchase of a two wheeler insurance policy online?

We are as document averse as you are. For a new policy, you don’t have to do any documentation.

How soon will the two wheeler insurance policy reach me if I buy it online?

Once the payment is done, the soft-copy of the policy will reach your mail box. Zip, zap, zoom! We believe in going green so we don’t send a hard-copy but if you want it you can just let us know, we’ll send it to you.