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A bike insurance calculator is a simple online tool that lets you calculate the insurance premium for a motorcycle, scooter, or an electric bike. The two-wheeler insurance premium calculator considers the vehicle’s make, model, Insured Declared Value (IDV), year of manufacture, and Regional Transport Office (RTO) details to provide you with a free quote.
You can use the calculator to understand how the premium is calculated and modify it based on your requirements. For instance, you can change the IDV, include or remove add-ons (if applicable), etc., and see the real-time impact of such changes — the quote will change based on your inputs. Utilise our bike insurance calculator at the top of this page to instantly know your two-wheeler's bike insurance premium.
Following are the essential components of a comprehensive 2 wheeler insurance premium calculator.
|✅ Own Damage (OD) Cover||✅ Insured Declared Value (bike’s market value)|
|✅ Year of purchase||✅ Make|
|✅ Model||✅ Third-party Insurance|
|✅ NCB||✅ Deductibles|
|✅ Add-on covers||✅ Personal Accident (PA) Cover for the bike owner (needs to be purchased separately)|
|Two-wheeler category||Third-party Bike Insurance premium (1-year)||Third-party Bike Insurance premium (5-year)|
|Not exceeding 75cc||Rs. 538||Rs. 2,901|
|Exceeding 75cc but not more than 150cc||Rs. 714||Rs. 3,851|
|Exceeding 150cc but not more than 350cc||Rs. 1,366||Rs. 7,365|
|Exceeding 350cc||Rs. 2,804||Rs. 15,117|
|Electric bike with Kilowatt Capacity (kW)||Premium for 1-year policy||Premium for long-term policy (5-year)|
|< 3kW||Rs. 457||Rs. 2,466|
|3 to 7kW||Rs. 607||Rs. 3,273|
|7 to 16kW||Rs. 1,161||Rs. 6,260|
|> 16kW||Rs. 2,383||Rs. 12,849|
Here are the benefits of the online bike insurance calculator.
The bike insurance calculator instantly provides the quote for a bike, scooter or electric bike based on your inputs. Simply enter a few details of your two-wheeler and get a quote.
Using the two-wheeler insurance premium calculator enables you to understand how bike insurance costs are calculated. Thus, you don’t have to depend on middlemen or agencies to know the bike insurance cost.
Choosing the right IDV ensures you get the right compensation in case of total loss or bike theft. Using the two-wheeler insurance premium calculator lets you choose the right IDV and receive proper compensation at the time of a claim.
The bike insurance calculator lets you compare different premium quotes, enabling you to choose the best-priced bike insurance policy for your two-wheeler.
The online bike insurance calculator lets you understand how the add-on covers impact the insurance premium. This way, you can pick the right add-ons (based on availability) as per your budget and requirements.
Here are the steps to use our bike insurance calculator (available at the top of this page) and get the perfect quote for your two-wheeler.
Enter your two-wheeler’s registration number.
Select the bike model, year of purchase, and policy status (active/expired). Then, click “View Prices”.
You can choose between Third-party Bike Insurance or Comprehensive Bike Insurance and view the bike insurance premium.
Knowing the cost of a service or product is crucial before you decide to pay for it. Likewise, knowing the bike insurance premium is essential before you purchase the policy. Here is how using the bike insurance premium calculator enables you to make the right choice.
The primary reason to use a bike insurance calculator is to help you buy a low-cost bike insurance policy. The calculator helps you understand how the premium is determined and how the right combination of factors enables you to zero in on the best bike insurance coverage.
The bike insurance calculator lets you check what increases or decreases the premium. With the help of this tool, you can adjust your coverage, and consequently the bike insurance premium, to fit your budget and needs.
The bike insurance premium calculator offers transparency in its calculations. It also lets you understand how your two-wheeler insurance premium is calculated, thus enabling you to make an informed decision.
With the bike insurance calculator, there is no dependency on middlemen or agencies to know the cost of insuring your bike. The online tool lets you choose and customise the two-wheeler insurance policy per your needs without depending on a middleman.
If you own an old or a used bike, you can still get a two-wheeler insurance quote by using our bike insurance calculator. Here are the steps to do so.
On our website or app, enter your bike registration number and click on “Insure now” to begin using the bike insurance calculator.
Select the bike model, year of purchase, and current bike insurance policy status.
You have the option to choose the Third-party Bike Insurance or the wide-ranging Comprehensive Bike Insurance. Select a policy that suits your needs the most.
Pay the premium online and get your bike insurance policy document instantly.
A third-party bike insurance calculator is an online tool to estimate the premium payable for Third-party Insurance.
3rd Party Bike Insurance Policy is a two-wheeler insurance policy that offers a financial shield against third-party liabilities and is mandatory as per The Motor Vehicles Act, 1988. Thus, two-wheeler owners must insure their vehicle with at least Third-party Insurance.
Here are the vital components of a third-party insurance calculator.
Third-party liability cover
Engine capacity of your bike
PA Cover for the bike owner
Here are the factors that play a crucial role in determining the bike insurance premium.
Third-party Insurance offers coverage for third-party liabilities, while Comprehensive Insurance offers coverage for own damage and third-party liabilities. Since the latter offers wide-ranging benefits, its bike insurance premium is higher than the 3rd Party Insurance.
The current market price of your bike affects the two-wheeler insurance premium. IDV is the maximum amount you can claim from ACKO in case of a total loss of your two-wheeler. The higher the market value, the higher the bike insurance premium.
The premium of a two-wheeler is also impacted by its make and model. A premium brand and model results in a higher 2 wheeler insurance premium as it is more valuable. Likewise, the premium for a low-cost brand and model is lower.
Your bike’s engine cubic capacity (cc) is one of the primary factors in determining the bike insurance premium. The higher the cc, the higher the two-wheeler insurance premium.
The bike’s value decreases due to regular wear and tear. Hence, the newer the bike, the higher the bike insurance premium. Hence, the year of manufacture of your bike affects the bike insurance premium rate.
The bike insurance premium for your two-wheeler is affected by the bike's location. Typically, bike owners living in a metropolitan city or a highly populated area attract a higher bike insurance premium compared to a bike owner living in a town or an area with lower traffic.
Deductibles is the amount you must pay from your pocket during two-wheeler insurance claims. The rest of the amount (as per policy terms) shall be borne by the insurer (in this case, ACKO). Thus the higher the deductibles, the lower the two-wheeler insurance premium.
If you don’t raise a claim during the policy period, you receive a discount on the bike insurance renewal premium (own damage component) known as No Claim Bonus. You can get up to a 50% discount if you don’t raise a claim for five consecutive years.
Two-wheelers that have installed Automotive Research Association of India (ARAI) approved anti-theft devices can get a discount on the bike insurance premium. Ensure you check with us while insuring your bike.
ACKO is a digital-first insurer with a focus on making insurance easy via online transactions. Here are compelling reasons why you should buy bike insurance from us.
Thanks to our direct-to-customer model, you pay a lower bike insurance premium. With no middlemen commissions, your expenses remain low. You also get valuable discounts during special occasions that reduce the two-wheeler insurance cost.
Our digital platform (website/app) lets you instantly buy or renew your two-wheeler insurance policy. You can use our website or app to buy or renew bike insurance online. The process is quick and paperless.
Filing a claim against ACKO Bike Insurance Policy is quick and can be completed via a simple-to-follow process. Log into your account by scrolling to the top of the page. Select “Claim” in the policy card, and answer a few queries to register your claim.
Has your bike’s rear-view mirror broken? Not to worry. We shall settle such minor claims within 2 hours. And even for severe damages, we shall try to settle the claim within a few hours or days based on the severity of the damages.
You not only save your money through low premiums and discounts but also get to maximise savings through long-term plans. You can opt for multi-year bike insurance and optimise your savings.
We provide ease of transactions through a single online platform. You can conveniently buy/renew the policy and register claims through our website/app. You can also access or download your policy document at any time
Here are some tips to reduce the bike insurance premium of your Comprehensive Policy.
For affordable and quick insurance for your bike, opt for online insurers such as ACKO. Since we work on a direct-to-customer model, there is no middlemen commission, enabling us to offer low-cost two-wheeler insurance plans.
Raising claims nullifies any accumulated NCB you have earned. This will result in a higher bike insurance premium while renewing your bike insurance policy. You can keep your NCB intact by avoiding raising claims for minor damages such as a broken mirror or a minor dent.
By choosing a multi-year bike insurance policy, you avoid a potential increase in the premium during annual renewals. Additionally, long-term two wheeler insurance policies enable you to get a discount on the bike insurance renewal premium.
Ensure you renew your two-wheeler insurance policy by the expiry date. By renewing it by the due date, you remove the vehicle inspection procedure and secure any accumulated NCB to get a discount on the bike insurance renewal premium.
Installation of an anti-theft device on your bike enables you to get a discount on the two-wheeler insurance premium. Make sure that the security device is approved by the Automotive Research Association of India (ARAI).
Deductibles in bike insurance is the portion of the claim amount you pay from your pocket during settlement, while ACKO pays the rest (as per policy terms). If you opt for or increase your Voluntary Deductible, the premium reduces, while your out-of-pocket expenses increase during claim settlements.
Raising a claim means you lose out on any accumulated NCB. Hence, you may lose out on a potential discount thereby increasing the premium during policy renewal. Note that such claim-related calculations won’t be possible in the bike insurance calculator.
The main components of the Comprehensive Bike Insurance premium are the market value of the bike (IDV), make/model, year of manufacture, current policy status, geographical location, engine capacity and accumulated NCB (if any).
When you buy two-wheeler insurance from ACKO, the policy document is instantly sent to your registered email address. You also have the option to download the policy upon making the premium payment online.
The process for calculating the two-wheeler insurance premium for new and second-hand bikes remains the same. Scroll to the top of this page to use our bike insurance calculator. Provide a few details of your bike to get an instant second-hand bike insurance premium quote.
No, you don’t lose out on the NCB if you move to a different insurer if you renew the bike insurance policy by the expiry date.
Use our bike insurance calculator at the top of this page. Provide a few details of your bike, and you get to know the value of your bike for insurance.
No, there are no disadvantages as such to buying bike insurance online. In fact, it is beneficial as it saves your money, is transparent, and is more convenient than the offline method. For example, you can use the bike insurance premium calculator to know quotes instantly, which would be time-consuming in case of the offline process.
Voluntary Deductibles in bike insurance refer to the portion of the claim amount you have agreed to pay from your pocket. This is apart from Compulsory Deductibles that you must account for during claim settlement. By opting for the Voluntary Deductibles, the bike insurance premium reduces. However, note that you must pay more from your pocket during claims if you opt for Voluntary Deductibles. Note that you might not be able to include such deductibles in the bike insurance premium calculator. Please contact your insurer for details.
Compulsory Deductibles in two-wheeler insurance refer to the portion of the claim amount you must compulsorily pay at the time of claim settlement under your bike insurance.
No, you don’t have to submit hard copies of bike documents while using the two-wheeler insurance calculator. Simply enter your vehicle’s information at the top of the page to know the bike insurance premium.
You must consider the following factors before switching to a new insurer.
Speed of claim settlement
Availability of Cashless Claim settlement
Check the insurer’s claim settlement history
24/7 customer service
Comprehensive Bike Insurance is popularly referred to as “full insurance”. It offers broad coverage against third-party liabilities and own damages. You can use our two-wheeler insurance premium calculator to determine the Comprehensive Insurance cost for your two-wheeler.
A long-term or multi-year two-wheeler insurance policy saves you from the effort of renewing the policy on a yearly basis. This way, you have the advantage of not missing the policy’s renewal date. A long-term policy ensures continuous coverage so that you don’t have to worry about non-compliance penalties. Also, since you pay the multi-year premium upfront, you are immune to any likely annual premium increase. Using our bike insurance premium calculator, you can know the price for an annual and multi-year policy.
The IDV in bike insurance is the market value of the two-wheeler. If your insured bike (covered under Comprehensive Policy) is stolen or damaged beyond repair, the insurer (in this case, ACKO) shall pay the IDV minus the deductibles and depreciation in claim settlement. Therefore, while using the 2-wheeler insurance premium calculator, you must choose the correct IDV to get to know the bike insurance premium.
If you choose an incorrect IDV while using the bike insurance calculator, you are indirectly selecting a lower value for your two-wheeler. Hence, if you raise a claim against your policy, you shall receive inadequate compensation against your claim. Thus, you must choose the correct value of your two-wheeler while using the bike insurance premium calculator.