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Why Is It A Must To Use A Bike Insurance Premium Calculator?

Updated On Jul 22, 2021

This article will provide you with information on what an insurance premium calculator is and why it is important to utilize it.

Purchasing Insurance involves a lot of thinking to make the right decision. There are many factors that influence the type of insurance policy that you select. One of the most trivial factors happens to be the insurance premium. This article helps you to understand the importance of calculating the bike insurance policy premium.   

Why Is It A Must To Use A Bike Insurance Premium Calculator?

What Is A Bike Insurance Premium Calculator?

A bike insurance premium calculator is an online tool that helps you to estimate the cost of your bike insurance premium based on the details of the bike like its model, date of registration, ex-showroom cost, type of insurance policy, etc.

Since this tool is available online, it helps you check the cost of various bike insurance premiums while comparing policies. Doing this will thus ensure that you make an informed choice.

How To Use A Bike Insurance Premium Calculator?

Using the online bike insurance premium calculator is simple and efficient. It requires minimal effort that involves filling in the necessary details of your bike insurance plan and clicking the enter tab to derive the estimated final premium amount. The following are the common steps to follow to derive your estimated bike insurance premium-

  1.     Fill in the details of your two-wheeler such as the model, engine type, and variant on the page.
  2. Provide the ex-showroom price of the bike along with the date of registration and year of purchase.
  3.   Select if you have made a bike insurance claim in the past and click on the ‘go’ or ‘enter’ tab.
  4.   The IDV (insured declared value) of your bike will be shown on the screen along with premium quotes for your bike.
  5.   Pick the two-wheeler insurance policy that you have in mind.
  6.   Select the type of insurance plan (comprehensive coverage or third-party).
  7.     Select the add-on covers that you prefer and click the confirm tab.
  8.     The total cost of your bike insurance premium will appear on your screen.

Why Is It Important To Use A Bike Insurance Premium Calculator?

It is very important to check the bike insurance premium quotes for different policies before you finalize one. The following are a few reasons why you need to use a bike insurance premium calculator-

You may also like to read:- Benefits of Using The Two-Wheeler Insurance Premium Calculator

It Helps You To Get The Policy At the Best Premium

The online premium calculator allows you to check the cost of your premium for multiple combinations of policies and add-ons. You can verify the cost of the premium for your preferred bike insurance plan by entering the respective details on the page. This way you can shortlist on the add-ons that you require.

Helps You Make The Right Decision

The bike insurance premium calculator helps you to estimate the cost of your premium. While comparing different policies, it is important to evaluate multiple points before selecting one insurance policy. Using this tool will help you get clarity on the affordability of your desired bike insurance plan.

Selecting A Cost-Effective Bike Insurance Plan

Checking the cost of multiple insurance plans will help you pick an insurance plan that is affordable and worth the money. Make sure to pick the policy which offers maximum coverage with an affordable bike insurance premium.

Helps You Protect Yourself From Fraud

Being aware of the different premium rates and combinations of plans will help you to save yourself from agents who demand a higher premium amount. This way you can protect yourself from fraud and select the bike insurance plan that is appropriate for your bike.

Also Read:

Why Should You Not Skip Using The Premium Calculator For Bike Insurance?

Take Away

Everyone prefers to buy an insurance policy that provides maximum coverage with an affordable premium. This is why it is important that you calculate your premium while comparing different policies to help you select the most suitable bike insurance policy.

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.


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