If you want to find out how you can save on your two-wheeler insurance premiums, then you need to use a bike insurance calculator. This calculator will provide you with the best quotes based on your requirements and budget.Read this article to know more about a two-wheeler insurance calculator.
What is the first thing a person considers while purchasing two-wheeler insurance? Most people will answer the premium amount.But do you know how insurance companies calculate the premium or what are the factors they consider in order to find the amount?
With the help of a bike insurance calculator, even you can find out the premium amount you will have to pay in order to purchase a policy. A two-wheeler insurance calculator is a tool that will provide you with an estimated premium amount for your bike. Furthermore, with the help of a two-wheeler insurance calculator, you can check the premium rates of various insurance plans. Therefore, you can compare multiple policies and purchase the one that fits in your budget.
How to Use a Two-Wheeler Insurance Calculator?
It is extremely easy to use a bike insurance calculator. You will have to enter a few important details in order to calculate the premium of an insurance policy, such as-
- Manufacturer’s name
- The model of the bike
- The variant of the bike
- City of registration
- Purchase year of the vehicle
- Insured declared value (IDV)
You can even add a few add-ons and find out how they impact the premium amount.
Benefits of Using a Two-Wheeler Insurance Calculator
- Helps You Find an Affordable Plan
A bike insurance calculator can help you compare various policies. This way, you can find out the most affordable one.
- Helps You Find the Right Add-Ons
Add-ons are the additional benefits that you can get by paying extra premiums. With the help of a bike insurance calculator, you will find out how add-ons can impact the premium amount. Therefore, you can buy the essential ones that fit in your budget. Some of the add-ons that you should consider are zero depreciation cover, accessories cover, return to invoice, and key loss cover.
- Helps You Find the Ideal IDV Amount
The maximum sum assured fixed by the insurance company is called IDV. You will receive this amount in case of theft or total loss of the vehicle. IDV has a huge impact on the premium amount. The higher the IDV amount, the higher the premium amount. However, if you select a lower IDV amount, then you might not receive adequate cover. A bike insurance calculator is an extremely beneficial tool in such a case because it can help you decide an ideal IDV amount.
- Helps You Make a Wise Decision
There are several bike insurance policies online and finding the right one can be difficult. However, with the help of a two-wheeler insurance calculator, you can compare various policies based on their premiums and benefits.
In conclusion, a bike insurance calculator is easy to use and can help you compare multiple plans. Make sure you use it before purchasing two-wheeler insurance.