Try ACKO's Bike Insurance Premium Calculator
Just enter your bike number & calculate premium instantly!
UID: 5673 | *T&Cs apply
Looking to insure brand new bike?
Zero commissions, big savings
UID: 5673 | *T&Cs apply
Home / Two-wheeler Insurance / Bike Insurance Calculator
A bike insurance or two wheeler insurance premium calculator is an online tool that lets you calculate the estimated insurance premium for a motorcycle, scooter, or electric bike. The bike insurance calculator considers the vehicle’s make, model, Insured Declared Value (IDV), year of manufacture, and Regional Transport location (RTO) to provide you with the premium details. Moreover, when checking the premium, it becomes easier to pick a suitable bike insurance plan that best fits your budget.
Some of the benefits of using a two-wheeler insurance premium calculator are as follows:
The bike insurance calculator instantly provides a quote for a bike, scooter, electric bike, or any other two-wheeler based on your input. Simply enter a few details of your two-wheeler and get a quote.
Choosing the Right Insured Declared Value (IDV) ensures you get the right financial 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 online bike insurance premium 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) that fit your budget and requirements.
The bike insurance calculator for premiums lets you compare different quotes, enabling you to choose the best-priced bike insurance policy for your two-wheeler.
With the help of a bike insurance calculator, you don’t need to depend on an insurance agent to provide you with premium details. You can simply enter a few details on your own and get bike insurance premium details.
It allows you to check bike insurance quotes anytime and anywhere instead of visiting the insurer's office. Whether at home or anywhere else, you can use the calculator to explore bike insurance options and make decisions at your convenience.
A third-party provides coverage for only third-party liabilities. Hence the following components are taken into consideration for calculating third-party bike insurance premiums:
Bike engine cubic capacity (cc)
Third-party liability coverage
Pillion rider cover
Personal Accident cover
The following tables provide more details about the third party two wheeler insurance rates for 2024. You can also make use of the two wheeler third party insurance premium calculator to determine the prices.
TWO-WHEELER CATEGORY | 1 YEAR BIKE INSURANCE PRICE (THIRD-PARTY) | 5 YEAR BIKE INSURANCE PRICE (THIRD-PARTY) |
---|---|---|
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 |
Here are the third party two-wheeler insurance rates for electric bikes in 2024.
ELECTRIC BIKE WITH KILOWATT CAPACITY (KW) | 1 YEAR BIKE INSURANCE PRICE (THIRD-PARTY) | 5 YEAR BIKE INSURANCE PRICE (THIRD-PARTY) |
---|---|---|
Less than 3kW | Rs. 457 | Rs. 2,466 |
More than 3kW but less than 7kW | Rs. 607 | Rs. 3,273 |
More than 7kW but less than 16kW | Rs. 1,161 | Rs. 6,260 |
More than 16kW | Rs. 2,383 | Rs. 12,849 |
The bike insurance premium cost depends on a number of factors such as engine capacity, age of the two-wheeler, IDV, and a few other factors. Based on these factors, you will be able to estimate the insurance cost for your bike.
You can go to ACKO’s website to get the bike insurance details.
Third-party bike insurance is compulsory for 2 wheeler.
You can use our two wheeler insurance premium calculator tool to determine the ideal value (IDV) of your two-wheeler while buying or renewing the insurance policy.
You need not use any formula to calculate motor insurance premiums. You can use our two wheeler insurance premium calculator to determine the insurance premium.
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.