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How to Use a Two-Wheeler Insurance Premium Calculator?
Follow these steps to use the premium calculator:Visit the official website of Square Insurance Brokers.Click on "Buy Two-Wheeler Insurance."Enter details about your bike, such as its make, model, and other information from the registration certificate.Select the type of two-wheeler insurance you want.Click on "Calculate Premium" to view all available insurance options.Add any extra covers you need and provide details of your No Claim Bonus, if applicable.The calculator will then show your premium amount based on the details you entered.
Third-Party Bike Insurance Premium Rates
| Engine Capacity | Premium to buy a new policy (5-year plan) | Premium to renew existing policy (1-year plan) |
|---|---|---|
| Not exceeding 75cc | Rs. 1,045 | Rs. 482 |
| Exceeding 75cc but not exceeding 150 cc | Rs. 3,285 | Rs. 752 |
| Exceeding 150 cc but not exceeding 350 cc | Rs. 5,453 | Rs. 1,193 |
| Exceeding 350 cc | Rs. 13,034 | Rs. 2,323 |
Third-Party Electric Bike Insurance Premium Rates
| Engine CC of the E-Bike | Third Party E-Bike Insurance Premium Prices (in ₹) (w.e.f 1st June 2022) |
|---|---|
| Up to 3 KW | Rs. 457 |
| Over 3 KW and up to 7 KW | Rs. 607 |
| Over 7 KW and up to 16 KW | Rs. 1,161 |
| Over 16 KW | Rs. 2,383 |
Disclaimer: The third-party insurance rates mentioned in the above tables may vary depending on the age, make, model, and city of registration of the two-wheeler.
Bike Insurance Plans By Bajaj Allianz
Factors Affecting Two-Wheeler Insurance Premium
Owner’s Age
Insurance companies tend to view younger riders as a greater risk so they charge higher premiums than older, more responsible riders.
Insured Declared Value (IDV)
The premium is based on the bike's current value. Bikes of greater value have higher premiums because the cost against loss is a huge figure.
Engine’s Cubic Capacity
Bikes with bigger engine capacity use more resources and generate more power, thus bringing higher premiums than smaller-engine bikes.
No Claim Bonus (NCB)
Policyholders who don't submit claims receive a discount on the rates, which can be from 20% to 50%, thereby promoting safer driving.
Anti-Theft Devices
Bikes equipped with anti-theft devices are cheaper to insure because such devices decrease the insurer's risk of theft and loss.