Navi Two-Wheeler Insurance Premium Calculator

A bike insurance premium calculator is an online instrument that makes it easier for you to find the right amount of premium for your Navi General bike insurance plan. By entering some details related to your bike such as make, model and variant of your bike, registration year of your bike, RTO location, etc., on the premium calculator you can get to know the find premium of various insurers. After comparing the premium amount of various insurance companies, you could easily select a bike insurance plan which suits your budget.

How to Use a Two-Wheeler Insurance Premium Calculator?

Step 1: Enter the Make, Model, Variant and Fuel Type of your bike.

Step 2: Enter the Registered Location and Purchase Year of your bike.

Step 3: Share with us, if you have made any claim in the previous policy term.

Step 4: Click on the ‘Calculate’ button to find the correct IDV and premium amount of bike insurance plans.

Benefits of Two-Wheeler Insurance Premium Calculator

• Correct Insured Declared Value (IDV) – You can easily find the correct IDV with the help of bike insurance premium calculator by entering make, model, variant, fuel type, age of your bike, and so on. With the knowledge of the right IDV, you can find the right claim amount which you are eligible to get from your insurance company in case of theft or total loss of your bike.
• Right Premium Amount - To calculate the right amount of premium for bike insurance covers is the major objective of the premium calculator. By deriving the accurate premium costs of various bike insurance policies, it helps you choose a bike insurance plan for the safety of your bike.
• Improves the Decision Making – The premium calculator makes you aware of the present market value of your bike and rate of premium offered by various insurance companies. With the information of the IDVs and premium costs of diverse bike insurance plans, you get the ways to make right decisions in relation to your bike insurance policy.
• Finding a Cost-Effective Cover – When you get to know the right IDV and the premium amount of diverse bike insurance policies, computed by the premium calculator, it becomes easier for you to pick a value for money bike insurance deal to insure your bike. In short, the premium calculator can help you select a cost-effective insurance cover for your bike.

Third Party Two-Wheeler Insurance Premium Rates

(Source: Insurance Regulatory and Development Authority of India (IRDAI))

Premium for Comprehensive and Standalone Own-Damage Bike Insurance Plans

The amount of premium for standalone own-damage and comprehensive bike insurance policies depends on a range of factors which includes make, model, and the variant of the bike, age of the bike, fuel type and engine capacity of the bike, registration location of your bike, and so on. You are recommended to make use of a premium calculator for getting instant premium results of several bike insurance covers. To acquire a better understanding of the process of premium calculation, you must go through the factors which affect it.

Factors Which Determine Two-Wheeler Insurance Premium

• Insured Declared Value (IDV): The Insured Declared Value (IDV) is the amount which insurers have to pay off to policyholders as reimbursement. However, as depreciation reduces the bike’s value with time, the IDV diminishes too. Therefore, the lower the IDV of your bike will be, the lesser the premium amount will be.
• Engine’s Cubic Capacity: The cubic capacity of a bike’s engine determines its power. So, the bike with higher cubic capacity will generate more power, but it enhances the risk of accidents too, which ultimately brings liability on the insurer. Hence, if the cubic capacity of your bike is high, its premium will be higher too.
• Add-On Benefits: The add-on covers are added to increase the policy coverage. They can be availed by paying a little extra amount of premium in addition to the regular premium. Hence, including the add-on covers to your bike insurance policy will increase the premium of your bike insurance policy.
• Anti-Theft Devices: The anti-theft devices bring enhanced protection for your bike. It definitely reduces the risk of insurers in terms of providing compensation to policyholders. Hence, insurance companies charge a lower premium cost from policyholders who have the bikes fitted with ARAI approved anti-theft devices.
• Modifications: Modifications in a bike upgrades its performance as well as its security. But, it increases the value of the vehicle as well, due to which, the insurer will have to pay more as compensation and increases its liability. Therefore, the bikes with modifications are charged with higher premium.