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Why Using a Premium Calculator is Important

By Juhi Walia
02 September 2022, 12:48 PM

The insurance premium is one of the most consequential considerations. This article will help you understand the significance of determining the premium for your bike insurance policy with the help of a premium calculator.

If you own a bike and are well-versed in selecting the best insurance policy for your bike, you surely are aware of the bike insurance premium calculator. The calculator simply prevents you from overspending on your bike insurance coverage. The bike insurance premium calculator is an online resource that assists bike owners and other clients in calculating their premium expenses before getting a bike insurance policy. All insurance companies have made the tool available to assist customers to make educated decisions about their insurance coverage.

What is a Bike Insurance Premium Calculator?

A bike insurance premium calculator is an online system that estimates the price of your bike insurance premium depending on facts about the bike such as its model, date of registration, ex-showroom cost, insurance policy type, and so on.

Because it is available online, you may use it to compare the costs of various bike insurance companies. As a result, you will be able to make an educated decision.

How Do You Use a Bike Insurance Premium Calculator?

It is straightforward and effective to use the online bike insurance premium calculator. It takes very little effort to calculate the projected final premium cost by filling in the essential facts about your bike insurance plan and hitting the input tab. The usual steps to calculate your anticipated bike insurance premium are as follows:

  • Fill up the page with information on your two-wheeler, such as the model, engine type, and variant.
  • Share the bike's ex-showroom price, as well as the date of registration and year of purchase.
  • Select if you have already made a bike insurance claim and select the 'enter' link.
  • Your bike's Insured Declared Value (IDV) will be displayed on the screen, along with premium estimates.
  • Choose the two-wheeler insurance coverage that you want.
  • Select the kind of insurance plan (comprehensive coverage or third-party) 
  • Choose your preferred add-on cover and click the confirm tab.
  • The total amount of your two-wheeler insurance premium will be displayed on your screen.

What is the Importance of Using a Bike Insurance Premium Calculator?

It is critical to compare bike insurance price estimates for several policies before deciding on one. Here are a few reasons why you should use a bike insurance premium calculator -

It Enables You to Obtain the Policy at the Least Possible Premium

The online premium calculator takes into account the cost of your premium for various policies and add-on combinations. By entering the relevant information on the page, you can confirm the cost of the premium for your desired bike insurance plan. This allows you to pin down the bike insurance add-ons that you require.

Assists You in Making the Correct Decision

The two-wheeler insurance premium calculator will assist you in calculating the cost of your premium. When comparing different insurance policies, it is critical to consider a variety of factors before settling on one. This calculator will assist you in determining the budget of your selected bike insurance plan.

Aids Choosing a Bike Insurance Policy with the Budget That Suits You

Examining the costs of various insurance plans will assist you in selecting an insurance plan that is both affordable and worthwhile. Choose a policy that provides maximum coverage at a reasonable bike insurance rate.

Aids in the Prevention of Fraud

Knowing the various premium rates and plan combinations can help you avoid agents that seek a greater premium amount. This way, you can protect yourself against fraud and choose the best bike insurance coverage for your bike.

Knowing the Cost of Suitable Add-ons

When it comes to bike insurance coverage, most bike owners just opt for necessary third-party bike insurance. This basic coverage offers limited protection and frequently leaves you financially insecure in the event of an unpleasant incident. This is why, in order to get the most out of your policy, you should consider purchasing add-ons. You can use the calculator to select add-ons that are within your budget or to modify your coverage to meet your needs.

Decide the IDV

The IDV, meaning Insured Declared Value, is the maximum amount you will get for your bike insurance claim, assuming you make one. This is a vital aspect of your insurance coverage since it can help you be financially prepared. You can use the calculator to calculate not only your premium expenses but also your IDV.


Everyone loves to choose an insurance policy that provides comprehensive bike insurance coverage at a reasonable cost. This is why you should calculate your premium via calculator when comparing different policies to assist you in getting the best bike insurance coverage.

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1. Why should I use a two-wheeler insurance premium calculator to calculate the IDV?

Calculating your bike's IDV assures that you will get the market value of the bike in the case of theft or total loss.

2. Why is using a bike insurance calculator advantageous?

  • It is inexpensive and saves you money.
  • Assists you in making educated decisions
  • Allows you to calculate the right IDV
  • Assists you in including the appropriate add-ons

3. Any disadvantages to buying online bike insurance?

No, there are no drawbacks to purchasing two-wheeler insurance online. In reality, it is a wiser approach to acquire bike insurance since you can compare prices and receive the proper coverage.

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