Calculate Your Bike Insurance Premium Instantly
Two Wheeler Insurance Premium Calculator
Confused about which two-wheeler insurance policy to opt for based on your budget? Need to determine the exact premium cost? You can easily calculate your bike insurance premium using the Tata AIG bike insurance calculator.
What is Two-wheeler Insurance Premium Calculator?
A two wheeler insurance premium calculator is a digital tool that helps the existing as well as potential policyholders ascertain the premium for a particular two-wheeler insurance policy. By entering some basic information about your bike, the insurance premium calculator can be used to determine what a policy’s purchase price is. The Tata AIG bike insurance premium calculator is a user-friendly tool. Through the premium calculator, you can compare two-wheeler insurance in a time-efficient manner and choose the one most feasible to you.
In order to compute the insurance premium of a specific policy through the Tata AIG bike insurance premium calculator, you must enter the bike’s registration number and the bike insurance calculator shall fetch the details of your existing bike insurance policy.
To compute the bike insurance premium for a new bike, you need to enter more details, including the manufacturer’s name and the model, vehicle registration number, and year of purchase. Thus, the Tata AIG bike insurance premium calculator helps you choose an adequate bike insurance policy.
Why is it important to Use a Bike Insurance Calculator?
When you are looking to buy or renew your bike insurance policy, you can compare different policies in a brief period through the Tata AIG bike insurance calculator. With our two wheeler insurance calculator, it is convenient to check the bike insurance premium for your new or old two-wheeler/bike. You can assess the two wheeler insurance premium of various policies and decide which one to buy.
Here are some of the reasons why using a bike insurance calculator is important.
It helps save time for premium calculation: A two-wheeler insurance calculator will save time taken for manually calculating the bike insurance premium as well as comparing different policies on offer. You can simultaneously look at multiple plans offered by us and find a policy that suits both your budget and insurance needs.
It helps you select a cost-effective policy: The main objective of our two wheeler insurance calculator is to assist you in selecting the most cost-effective bike insurance policy. You understand the different elements that affect your bike insurance premium and select the most cost-effective insurance policy for your bike.
It helps you reduce your bike insurance premium: A key benefit of using our bike insurance premium calculator to select a bike insurance policy is that it helps you reduce your bike insurance premium. As you add or delete features to and from a particular bike insurance policy, the premium amount would change, enabling you to understand the cost of each feature and its impact on your bike insurance premium.
It helps you select the adequate policy: The Tata AIG two wheeler insurance premium calculator is a transparent and comprehensive tool that helps you make the right policy selection. You understand the factors affecting your bike insurance premium and the extent of coverage offered under each plan, thereby choosing the most beneficial policy at the two wheeler insurance premium feasible to you.
How to Calculate Premium for New & Old Two Wheeler Vehicles?
The Tata AIG bike insurance premium calculator can be used to calculate the insurance premium for old as well as new bikes. Therefore, you can use our bike insurance calculator to assess and select a policy for your old or new bike.
For new bikes:
If you have just purchased a bike, you might not have the registration number yet. To calculate the insurance premium for your new bike, you have to enter the following details into our new bike insurance calculator for new bikes.
- The bike registration details
- The make and model of the car (if RC number not available)
For old and second-hand bikes:
In order to compute the bike insurance premium for second hand bikes, you must enter the details mentioned below in the Tata AIG two wheeler insurance calculator.
- Claim details of the previous policy year
- Existing bike insurance details
- Details of the owner-driver - name, age, contact details, gender, marital status, etc. (renewal of other company’s policy)
Once you enter the aforementioned details, the Tata AIG bike insurance premium calculator will fetch the insurance premium details for a specific policy for your new or old bike.
How to use TATA AIG Bike Insurance Premium Calculator?
You can use the Tata AIG two wheeler insurance calculator to compute your bike insurance premium in a few simple steps. Our insurance calculator takes several important factors into account whilst computing the two wheeler insurance premium for a particular bike and policy, including the bike’s make and model, variant, previous insurance coverage, year of registration, depreciation, and the ‘No-claim Bonus’ (NCB) claimed in previous years.
While the insurance premium for Third-party two wheeler insurance is determined by the Insurance Regulatory and Development Authority of India (IRDAI), the premium for stand-alone damage and comprehensive bike insurance policies depends on your bike’s specifications, the extent of coverage and the insurer you select.
In order to calculate the two wheeler insurance premium for a specific policy for your bike, you must follow the following steps.
Step 1: Go to the two-wheeler insurance page and input the details of your bike in the calculator. Click ‘Get Price’ for a new bike or other company policy renewal. Click on ‘Renew’ for Tata AIG bike insurance renewal.
Step 2: The bike insurance calculator will automatically fetch the necessary two-wheeler details. You simply provide the type of coverage, add-ons (for comprehensive bike insurance policy), No Claim Bonus details and other information as requested.
Step 3: Click on Get Quote. The two-wheeler insurance calculator will display the exact premium you need to pay for the nature and extent of coverage you chose. You can tweak the details, such as the policy type, add-ons, etc. till you find the right coverage.
Factors That Decide Your Two Wheeler Insurance Premium
Your two wheeler insurance premium is not merely dependent on your bike’s make and model. There are several other factors that also play a crucial part in the determination of your bike insurance premium.
The factors that have a significant bearing on your bike insurance premium are as follows:
Insured Declared Value: Your bike’s ‘Insured Declared Value’ is the maximum amount you can claim from your insurer in the event of a total loss pertaining to the bike. The aforementioned value depends on the brand, model, variant, and registration details of your bike. The higher the IDV, the higher is your bike insurance premium.
Your Bike’s Brand and Model: The market value of your bike is an important factor in the calculation of your bike insurance premium. Therefore, the price of the bike as determined by its manufacturer affects its market value and its ‘Insured Declared Value’ (IDV). Various variants of the same model of a bike can also have different IDVs and, consequently, varying insurance premiums. High-mileage bikes and sports bikes usually have a high IDV and a high two wheeler insurance premium.
Your NCB and other applicable discounts: A ‘No-claim Bonus’ is a reward from your insurer for not filing a claim during the term of your bike insurance policy. When you renew your bike insurance policy, the accumulated NCB on your previous policy makes you eligible for a discount on your new bike insurance premium.
Therefore, the NCBs accumulated on your bike insurance policy are beneficial during your bike insurance renewal. Furthermore, you can also benefit from the various discounts offered by us on the purchase of bike insurance policies at different times.
The Add-ons you select: You can add various add-on features to a basic bike insurance coverage, including a personal accident cover for yourself, depreciation allowance, and emergency personal medical expenses. The aforementioned add-ons increase the bike insurance premium of your selected policy.
Your Bike’s Cubic Capacity: Irrespective of the frequency of the utilisation of the bike, the higher the engine cubic capacity, the higher the third party insurance premium. While all bike insurance plans consider the engine cubic capacity, the bike insurance premium for a third party cover is specifically and solely dependent on the engine cubic capacity of your bike.
Fuel Type: The premium for your bike insurance plan is also dependent on your bike’s fuel type. The bikes which run on Compressed Natural Gas (CNG) tend to have a higher bike insurance premium than the premium for diesel and petrol-run bikes.
Geographical Location: The premium for your two wheeler insurance policy is also affected by the geographical location where the vehicle would be regularly used. Therefore, if you live in a metropolitan city or a highly-populated area of your town, you will have to pay a higher bike insurance premium than your counterparts living in smaller towns or areas with lower traffic and a lower risk of accidents.
The Deductibles You Choose: When you are purchasing a bike insurance policy, you have to declare a certain proportion of the potential insurance claim as a voluntary deduction. In the event of a bike insurance claim being filed, the aforementioned amount will be excluded from your total claim. Therefore, the higher the deductible you choose, the lower is your bike insurance premium.
Benefits of Bike Insurance Calculator
There are many benefits of using the Tata AIG bike insurance calculator, some of which have been discussed below:
It helps you select an adequate bike insurance plan: By enabling you to get the premium quotes for various bike insurance plans, our bike insurance calculator helps you select the most suitable bike insurance policy for your bike. Therefore, you must use the aforementioned tool to receive and assess bike insurance quotes before purchasing a two-wheeler insurance policy.
It helps you ascertain the right IDV for your bike: The Tata AIG two wheeler insurance calculator assists you in the determination of the accurate IDV for your bike so as to ensure that you quote the right IDV in your bike insurance policy and receive optimal benefits from the policy in the wake of a total loss event associated with your bike.
It helps you select the adequate add-ons: The Tata AIG bike insurance online calculator enables you to assess the costs and benefits of various add-on features available to be added to your bike insurance policy. You can, therefore, select adequate add-ons without putting too much strain on your insurance budget.
It helps you choose a bike insurance policy without any agent: With a two wheeler insurance premium calculator, you are well-equipped to select the most feasible bike insurance policy for your bike without having to consult an agent, thereby saving on commission.
No risk of insurance fraud: By using the Tata AIG two wheeler insurance premium calculator, you can escape the risk of any insurance frauds, including the sale of non-existent and fraudulent policies by some agents.
Reasons You Should Choose TATA AIG's Bike Insurance Policy
Here are some of the reasons why you should choose Tata AIG’s bike insurance policy.
Savings on premium: The online purchase of a bike insurance policy from Tata AIG enables you to not only ensure smooth and quick two-wheeler premium payments but also save upto 75% on the two-wheeler insurance premium.
Easy claims process: Tata AIG assures you of a simple and user-friendly insurance claim process. With our dedicated team of claim experts, you can receive adequate assistance in the claim filing process.
Third-party Damage Cover: Our bike insurance policy offers you financial protection against any damage caused to third-party property or an injury sustained by a third-party individual in an accident.
7500+ Network Garages: While selecting a bike insurance policy, it is important to consider the network garage coverage included in it. By selecting the Tata AIG bike insurance policy, you can enjoy the service of cashless repairs at more than 7500 network garages across the country.
24x7 support: You can assess and purchase our two-wheeler insurance plans online by following a simple and time-efficient process. Our 24x7 support team is available to assist you in the aforementioned process through telephone, email, and WhatsApp.
No Claim Bonus: If you did not make any bike insurance claims on your policy in the preceding year, you are eligible to get a 20% discount on your Tata AIG bike insurance premiums, which can go up to 50% for five consecutive claim-free years.
How To Reduce Two Wheeler Insurance Premium?
If you want to ensure that your bike insurance policy is cost-effective and adequate for your bike, you must compute your bike insurance premium while considering all the important factors that have a bearing on it. Furthermore, in order to ensure that you end up paying the adequate two-wheeler insurance premium, it is important to understand how you can reduce the amount of the premium.
Here are some tips on how to reduce your two-wheeler insurance premium:
Buy insurance online: Buying bike insurance online is easier and more cost-effective as compared to the offline purchase mode. You can easily select the most suitable bike insurance plan for your bike and purchase it online to save time, effort, and money.
Do not make small claims: It is advisable not to make insurance claims for minor damages sustained by your bike. If you file a claim with your insurer for a small amount, you end up losing your ‘No Claim Bonus’ which, in turn, affects your eligibility for getting a discount on the insurance premiums of your renewed bike insurance policy.
Opt for a multi-year bike insurance policy: If you choose the Tata AIG multi-year bike insurance policy, you will benefit from not having to bear a potential hike in your insurance premium every year. Furthermore, purchasing a multi-year bike insurance plan may make you eligible for attractive discounts and offers which can reduce the cost of your policy, enhance its coverage, or both.
Maintain a good riding record: By being a responsible bike rider, you can not only protect yourself from any road accident-driven injuries but also reduce the possibility of having to file bike insurance claims. The ‘No Claim Bonus’ feature of our bike insurance policy rewards responsible you by offering them a 20-50% discount on the renewal premium.
Renew your policy on time: You must renew your bike insurance policy on a timely basis to avoid any penalties resulting from riding your bike with a lapsed policy, enjoy the benefit of a discount on your new bike insurance policy premium in accordance with the ‘No Claim Bonus’ feature, and eliminate the need to have to undergo the bike inspection process during the policy’s renewal.
Select relevant add-ons: It is important to remember that each add-on feature carries an additional cost which ends up increasing the amount of your bike insurance premium. Therefore, you must select the relevant add-ons while purchasing a bike insurance policy and avoid the addition of the features you deem non-essential for your policy.
Frequently Asked Question
How to calculate the bike insurance premium in India?
Your bike insurance premium is determined by several factors, including the following.
- The brand, make, model, and variant of the bike
- The bike insurance policy that you select
- The registration city and state of your bike
- The geographical location where you will usually ride the bike
- The depreciation accumulated on your bike (for old and second-hand bikes)
You can use the bike value calculators in India to calculate your premium quickly and easily. By using the Tata AIG bike insurance calculator, you can compute your bike insurance premium and select the policy most suited to your budget and requirements in 3 simple steps.
● Input the registration number in the bike insurance calculator ● Provide all the necessary details as prompted by the screen ● Get the exact premium cost calculated in no time
How to calculate the value of my bike for insurance?
The ‘Insured Declared Value’ (IDV) of your bike is the maximum sum that a bike insurance company can promise to pay you in the unfortunate event of a total loss of the bike, such as thefts and severe accidents. Therefore, it is important to compute the right IDV for your bike and quote it in your bike insurance application.
You can compute the IDV for your bike through the Tata AIG two wheeler insurance calculator by entering a few important details about your bike, including the following:
- The market value of the bike
- The year of purchase of the bike to account for the depreciation accumulated on it
The IDV of a new bike is equivalent to its market value whereas that of an old bike is its market value minus depreciation. Thus, our bike insurance premium calculator is an easy tool for you to compute and quote your bike’s ‘Insured Declared Value’ which is necessary for the determination of your two wheeler insurance premium.
How to calculate the insurance premium for a second-hand motorbike?
The insurance premium of a second-hand bike depends on the following factors.
- The brand, make, model, and variant of the bike
- The type of bike insurance policy that you select
- The registration city and state of your bike
- The geographical location where you will usually ride the bike
- The age of the bike and the depreciation accumulated on it
- The existing bike insurance
- The accumulated No Claim Bonus
By using the Tata AIG bike insurance calculator, you can calculate the insurance premium for your second-hand bike in a quick, easy and accurate manner.
What is a bike insurance calculator and how does it work?
A bike insurance premium calculator is a digital tool that helps you ascertain the insurance premium for your bike under a particular bike insurance policy. Whilst computing your bike’s insurance premium, the Tata AIG two wheeler insurance calculator takes into account several significant factors, including the bike’s manufacturer, make, model, variant, and year of purchase, the vehicle registration details, the geographical location where the bike will be primarily used.
Our bike insurance premium calculator has been designed to be user-friendly, transparent, and comprehensive. All you need to do is enter a few important details about your bike and the Tata AIG two wheeler insurance calculator will fetch the premium amount for the selected bike insurance policy, thereby assuring you of a seamless, cost-effective, and time-efficient policy purchase and renewal experience.