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- Apr 9, 2024
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For a large section of Indians, the internet has revolutionised searching and buying products online. With just a few taps on your smartphone, you can search for any product and have it delivered to your doorstep. This convenience extends to financial products such as two-wheeler insurance as well. However, choosing the right two-wheeler insurance online is a lot harder than buying it as the internet is flooded with unorganised and unreliable information.
Wouldn’t it be great then if you could get accurate info from a trustworthy source with the convenience of buying online?
That is precisely what Bajaj Allianz offers with its online two-wheeler insurance premium calculator. Read on to find out how Bajaj Allianz helps you calculate two-wheeler insurance premium in a fast, transparent, and convenient way.
What Factors Influence Your Two-wheeler Insurance Premium Calculation?
Bajaj Allianz helps you identify the factors that decide the premium amount of your two-wheeler insurance. They include:
Type of Cover
Two-wheeler Details
Your two-wheeler’s details such as model, year of manufacture, engine capacity, etc. play an important role in the final premium amount. Typically, two-wheelers with higher engine capacity have higher insurance premiums. For older two-wheelers, the premium is lower because of a lower IDV (more on that below).
Place of Registration
Two-wheelers registered in urban areas have a higher insurance premium than two-wheelers registered in rural areas. This is mainly because of the latter’s lower traffic density and accident rate.
IDV
The IDV (Insurance Declared Value) refers to the current market value of your two-wheeler. It is the approximate figure after subtracting depreciation value from your two-wheeler’s selling price. The IDV is what Bajaj Allianz will use as a reference to calculate your compensation in case of total loss i.e. when your two-wheeler is either stolen or damaged beyond repair.
NCB
NCB (No Claim Bonus) is a bonus or discount given at the time of insurance renewal, thus reducing your two-wheeler insurance premium. However, you can avail NCB only if you haven’t raised a claim during your two-wheeler insurance period. The NCB percentage increases after every claim-free year, up to a maximum of 50 per cent.
Deductibles
Deductibles, similar to co-pay in health insurance, refer to the amount you pay from your pocket when raising claims. If you choose to increase your share of the amount paid during claims, your two-wheeler insurance premium comes down and vice versa.
Add-Ons
As the name indicates, add-on covers offer protection from incidents that are not covered by regular two-wheeler insurance policies. Bajaj Allianz offers a variety of add-on covers including:
However, remember that your two-wheeler insurance premium goes up if you opt for more add-on covers. To avoid this, pick only those add-on covers that you need the most.
How to Calculate Your Two-wheeler Insurance Premium Online with Bajaj Allianz?
Now that you know the factors that affect your two-wheeler insurance premium amount, let’s see how you can calculate it online with Bajaj Allianz. Before you read further, please keep your (driving licence, address) and your two-wheeler (RC) details ready.
That’s it. You will now see the exact amount you need to pay for your two-wheeler insurance premium. If you want to proceed with the buying process, click on the ‘Make Payment’ button.
Why Buy Bajaj Allianz Two-wheeler Insurance Online?
By using the Bajaj Allianz online two-wheeler insurance premium calculator, you can sift through all the confusing information on the internet and find out the exact amount you need to pay. In other words, it helps you do what ought to be done - ride without worrying about you and your two-wheeler’s safety!
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