Bike Insurance Calculator

How much insurance does it cost for a bike?

The bike insurance premium cost depends on a number of factors such as engine capacity, age of the two-wheeler, IDV, and a few other factors. Based on these factors, you will be able to estimate the insurance cost for your bike.

How to check bike insurance value online?

You can go to ACKO’s website to get the bike insurance details. 

Which insurance is compulsory for a 2 wheeler?

Third-party bike insurance is compulsory for 2 wheeler. 

How to calculate bike value for insurance?

You can use our two wheeler insurance premium calculator tool to determine the ideal value (IDV) of your two-wheeler while buying or renewing the insurance policy.

How to calculate motor insurance premium formula?

You need not use any formula to calculate motor insurance premiums. You can use our two wheeler insurance premium calculator to determine the insurance premium.

Does the bike insurance premium increase if I raise a claim during the policy period?

Raising a claim means you lose out on any accumulated NCB. Hence, you may lose out on a potential discount thereby increasing the premium during policy renewal. Note that such claim-related calculations won’t be possible in the bike insurance calculator. 

What are the main components of the Comprehensive Bike Insurance premium?

The main components of the Comprehensive Bike Insurance premium are the market value of the bike (IDV), make/model, year of manufacture, current policy status, geographical location, engine capacity and accumulated NCB (if any).

How do I receive the bike insurance policy document after making the premium payment online?

When you buy two-wheeler insurance from ACKO, the policy document is instantly sent to your registered email address. You also have the option to download the policy upon making the premium payment online.

How to calculate the bike insurance premium for a second-hand (used) bike?

The process for calculating the two-wheeler insurance premium for new and second-hand bikes remains the same. Scroll to the top of this page to use our bike insurance calculator. Provide a few details of your bike to get an instant second-hand bike insurance premium quote.

Will I lose my No Claim Bonus if I switch to a new insurance provider?

No, you don’t lose out on the NCB if you move to a different insurer if you renew the bike insurance policy by the expiry date.

How to calculate the value of my bike for insurance?

Use our bike insurance calculator at the top of this page. Provide a few details of your bike, and you get to know the value of your bike for insurance.

Are there any disadvantages of buying bike insurance online?

No, there are no disadvantages as such to buying bike insurance online. In fact, it is beneficial as it saves your money, is transparent, and is more convenient than the offline method. For example, you can use the bike insurance premium calculator to know quotes instantly, which would be time-consuming in case of the offline process. 

What are Voluntary Deductibles in two-wheeler insurance? What are its benefits?

Voluntary Deductibles in bike insurance refer to the portion of the claim amount you have agreed to pay from your pocket. This is apart from Compulsory Deductibles that you must account for during claim settlement. By opting for the Voluntary Deductibles, the bike insurance premium reduces. However, note that you must pay more from your pocket during claims if you opt for Voluntary Deductibles. Note that you might not be able to include such deductibles in the bike insurance premium calculator. Please contact your insurer for details. 

What are Compulsory Deductibles in bike insurance?

Compulsory Deductibles in two-wheeler insurance refer to the portion of the claim amount you must compulsorily pay at the time of claim settlement under your bike insurance.

Do I need to submit hard copies of bike documents for using the bike insurance calculator?

No, you don’t have to submit hard copies of bike documents while using the two-wheeler insurance calculator. Simply enter your vehicle’s information at the top of the page to know the bike insurance premium. 

What are the factors that should I consider before switching my insurance provider online?

You must consider the following factors before switching to a new insurer. 

Speed of claim settlement

Availability of Cashless Claim settlement

Check the insurer’s claim settlement history

24/7 customer service

What is full insurance for bikes?

Comprehensive Bike Insurance is popularly referred to as “full insurance”. It offers broad coverage against third-party liabilities and own damages. You can use our two-wheeler insurance premium calculator to determine the Comprehensive Insurance cost for your two-wheeler. 

What is the advantage of a long-term bike insurance policy?

A long-term or multi-year two-wheeler insurance policy saves you from the effort of renewing the policy on a yearly basis. This way, you have the advantage of not missing the policy’s renewal date. A long-term policy ensures continuous coverage so that you don’t have to worry about non-compliance penalties. Also, since you pay the multi-year premium upfront, you are immune to any likely annual premium increase. Using our bike insurance premium calculator, you can know the price for an annual and multi-year policy. 

Why is it essential to select the correct IDV while using the bike insurance premium calculator?

The IDV in bike insurance is the market value of the two-wheeler. If your insured bike (covered under Comprehensive Policy) is stolen or damaged beyond repair, the insurer (in this case, ACKO) shall pay the IDV minus the deductibles and depreciation in claim settlement. Therefore, while using the 2-wheeler insurance premium calculator, you must choose the correct IDV to get to know the bike insurance premium.

What happens if I choose an incorrect IDV while using the 2 wheeler insurance premium calculator?

If you choose an incorrect IDV while using the bike insurance calculator, you are indirectly selecting a lower value for your two-wheeler. Hence, if you raise a claim against your policy, you shall receive inadequate compensation against your claim. Thus, you must choose the correct value of your two-wheeler while using the bike insurance premium calculator.