Online Premium Calculators for Two-Wheeler Insurance: Factors that matter

Nowadays it is very easy and convenient to check the two-wheeler insurance premium amount before finally purchasing the insurance policy. It is because of the online premium calculator made available by the insurance companies on their website. All you need to do is enter a few basic details about your two-wheeler and the calculator displays the premium you need to pay to purchase your insurance policy. 

This will help you get an idea of the amount that you are supposed to pay for the two wheeler insurance plan. In this article, we will discuss the advantages of these calculators and what are the factors considered to calculate the premium of your two-wheeler insurance. 

Advantages of Online Premium Calculator

  • The online premium calculator helps you in making an informed decision regarding the purchase of your two-wheeler insurance policy.
  • The calculator provides you with an understanding of the factors that may have a direct impact on your bike insurance premium amount.
  • Knowing the approximate premium amount of the insurance policy helps you to plan your purchase accordingly.
  • As no intermediaries are involved, you get unbiased, non-promotional detail.
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Factors that help to determine two-wheeler insurance premium

There are several components based on which the premium calculators calculate the premium amount of your two-wheeler insurance policy. Here, we have mentioned the same for your understanding:

Policy type

The type of policy that you choose will have an impact on your insurance premium amount. Meaning, if you opt for a basic third-party liability policy, it will cost you lesser than the comprehensive two-wheeler insurance policy. 


Going for a voluntary deductible in addition to the compulsory deductible will lower your insurance premium amount.

No Claim Bonus (NCB)

No Claim Bonus (NCB) is a type of benefit (during renewal) given for not making a claim during the policy period. Applicable NCB is considered when arriving at the premium while renewing your vehicle’s insurance policy.

Make & Model of two-wheeler

Buying a sports bike will have you pay for higher insurance premium as compared to buying a regular bike. This is why your bike’s brand, model, and cubic capacity are required while calculating the insurance premium. Insurance companies ask for the vehicle’s registration year as well.

  • Age

Some insurers consider the vehicle owner’s age for the insurance premium calculation. However, this may vary from insurer to insurer. 

  • Location
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Two-wheelers in metro regions warrant a higher premium as compared to those in tier-3 cities. This classification is based on the traffic density of a region which also plays a part in the rate of accidents of the location.

Now that you know how online premium calculators work for two-wheelers, we are sure you will not hesitate to share the information needed to arrive at the premium. While most insurers have online calculators, it becomes tedious to check premiums on multiple sites to make a choice. To avoid this inconvenience, you can simply check out the Bajaj Finserv  

Anywhere, Anytime insurance with the Bajaj Finserv 

The Bajaj Finserv is a high utility that takes care of all your financial needs including insurance. you can explore multiple two-wheeler insurance plans from our trusted partners. By just providing a few basic details, you can get quotes from multiple insurers at one go. Plus you can view product features, compare prices and purchase a plan that is best suited to your needs. All this in a matter of minutes and from the comfort of your home. It truly is becoming the new way to buy insurance.

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