The Right Way to Use a Bike insurance premium calculator

by Bhargav Baweja CMO Marketing When it comes to buying new bike insurance, the premium that you’d be paying for it is an important consideration. Fortunately, now you can find bike insurance premium calculator which makes the whole process of calculating the premium quick and accurate. 

A penny saved is a penny earned’ is an age-old adage which has stood the tests of time. No matter how small the savings are, it is your hard-earned money, and you have every right to find the best possible deal. Even when it comes to bike insurance, you need to ensure that you get the best deal on it with maximum benefits and affordable premiums.

Fortunately, now you no longer need to rely on assumptions with respect to the premium amount when buying bike insurance. You can use a premium calculator to accurately calculate the premium of two-wheeler insurance and pick one that is easily affordable and offers excellent benefits too. If you have never used one such calculator in the past, the tips mentioned below can help-

1.    Filling in the details

A bike insurance premium calculator is an online tool which makes it easier for you to calculate the premium of insurance. By calculating the premiums of different insurance policies, you can easily pick one that suits you best.
The tool is very easy to use and requires you to add some basic information about your two-wheeler, like its age, where it is registered, cubic capacity and IDV. Once all these details are entered, you can click on the calculate button and the tool will instantly calculate the premium amount based on the information.

2.    Calculating premium for new and used bikes

The premium amount can significantly vary between an insurance that is purchased for a new bike and one that is purchased for a used bike. As far as using the online calculator is concerned, the only major difference for you would be some minor changes in the information you provide. With used bikes, you’d be required to add details like information about existing insurance and previous claim reports.

3.    Factors which determine the premium amount

The calculator considers a number of important factors just like an insurance agent to calculate the premium for your insurance. Some of the most important considerations include-
•    Your location
•    Model, make and variant of the bike
•    Manufacture year
•    Voluntary deductible
•    No claim bonus in case of renewing insurance

4.    Importance of comparing bike insurance policies

Not just for saving money but it is also very important to compare bike insurance policies to ensure that you select one that offers the best benefits too. While using an online bike insurance premium calculator is very important, you should also check the other features and benefits of the policies to make the best buying decision.

5.    Renewing bike insurance

You need to renew the bike insurance at regular intervals, or the policy will lapse, and you’ll no longer be entitled to the coverage or the benefits. You can now easily renew insurance online and have the option to continue with the same insurer  or switch to someone better. No matter which insurance policy or insurer you select, make sure that you renew the insurance every time before it expires.

Premium, being a very important part of bike insurance, needs special attention at the time of purchasing new bike insurance or renewing an existing insurance. Thanks to the online calculators, you can now calculate it easily and make an informed buying decision.

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Created on Dec 1st 2017 00:59. Viewed 733 times.

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