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Bike Insurance Premium Calculator

A bike insurance premium calculator is an online tool offered by insurance companies to help you determine the premium for your bike insurance policy. The calculator gives you a clear idea of the premium that you need to pay based on your policy and bike details.

For example, if you are thinking of buying a bike insurance policy for a new two-wheeler, you can enter details such as the bike's model, manufacturing year, registration city, and engine capacity into the calculator. You can also choose the policy type and add-ons. The calculator then shows an estimated amount, including discounts and add-ons, based on your inputs.

At IndusInd General Insurance (Formerly known as Reliance General Insurance), we provide a free insurance calculator for bikes that simplifies the policy purchase and renewal process. You can easily estimate the premium and pick a suitable two-wheeler insurance plan by entering your basic details.

How To Use Our Bike Insurance Premium Calculator?

Enter Your Details

Fill in your bike’s registration and model number.

Select Coverage

Select the type of policy you want and any add-ons if needed.

Check Premium

Click “Check Price” to get a bike insurance premium quote.

Compare Prices

You can modify your input to get another quote for coverage comparison.

Proceed to Buy

Once you get a quote you’re okay with, you can proceed to buy your policy.

Homepage Curated Plans Client Extension

Details Required For a Bike Insurance Premium Calculator

Model, make and variant of the bike.

City of bike registration

Ex-showroom price of the bike

Year of bike purchase

Type of policy

Existing policy status (if available)

Not sure which bike insurance policy is right for you?

Talk to our expert advisors

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Benefits of Using a Bike Insurance Premium Calculator

No Insurance Agent Needed

One significant benefit of using a new bike insurance calculator is the elimination of insurance agents. The bike owners can compare different bike insurance plans online using this calculator. They do not need any agent's help in choosing the right insurance plan. It saves you from paying any commission or fee to the agent.

Saves Time

The key benefit of using a two-wheeler insurance premium calculator is that it’s quick. Instead of manually calculating premiums, the calculator provides instant results. This decreases the time required to buy or renew a bike insurance policy. Also, it allows you to complete the process more efficiently.

Estimate Premium in Advance

You can estimate your insurance premium in advance by using a bike insurance premium calculator. It provides you with an estimated premium amount before you purchase or renew a policy. You can find out the expected cost in advance just by entering your basic policy and bike details.

Easier Policy Comparison

You can compare premium estimates instantly by adjusting policy options such as add-ons or coverage type. This helps you assess different coverage combinations and choose a bike insurance policy that balances cost and protection to meet your needs.

Fewer Errors During Renewal or Purchase

By using a bike insurance premium calculator, you reduce the chances of making mistakes while purchasing or renewing a policy. As you enter the details step by step, the chances of choosing the wrong policy type, unnecessary add-ons and incorrect NCB are very low.

Understand Premium Calculation

A bike insurance premium calculator allows you to see how different details, such as engine capacity, registration city, bike age, selected add-ons and No Claim Bonus, affect the premium. It does not show a final amount; it helps you see how the premium changes when any detail in the policy is updated.

How is Bike Insurance Premium Calculated For New and Old Bikes?

Calculation of Bike Insurance Premium For New Bikes

The insurance premium for new bikes is calculated based on the bike's engine capacity, Insured Declared Value (IDV), and registration city. As the bike is new, depreciation is generally not applied, or it is just minimal. That means the IDV stays the same as the ex-showroom price. Higher IDV means a higher premium.

The total premium depends on the type of policy selected.

The third-party premium is fixed in accordance with the IRDAI’s regulatory guidelines, whereas the own-damage premium varies based on the bike's details.

Moreover, if you choose any add-on cover, its cost is added to the base premium. Then, GST is applied to arrive at the total amount payable.

Formula For New Bikes

IDV = Ex-Showroom Price - Depreciation
Own Damage Premium = IDV*Applicable OD Rate
Total Premium = Third Party Premium + Own Damage Premium + Add-on Premium + GST

Calculation of Bike Insurance Premium For Old Bikes

The insurance premium for old bikes is calculated based on factors such as depreciated IDV, bike age, claim history, and registration city. The own-damage premium decreases as the bike gets older.

Moreover, the premium also depends on whether the policy is being renewed on time and if the policyholder is eligible for a No Claim Bonus. A valid NCB decreases the own damage premium. However, the add-ons increase the premium. Also, GST is added to the final premium amount.

Formula for Old Bikes

IDV= Ex-Showroom Price-Depreciation
Own Damage Premium = IDV*Applicable OD Rate-NCB Discount
Total Premium = Third Party Premium + Own Damage Premium + Add-on Premium+ GST

How Are Third-Party Bike Insurance Premiums Calculated?

For Private Fuel-Based Bikes

For third-party bike insurance policies, premiums are decided and declared by the Insurance Regulatory and Development Authority of India (IRDAI) based on a bike’s engine cubic capacity. The current bike insurance premiums for this year are as follows:

Engine Cubic Capacity (CC)	Premium for 1 Year	Premium for 5 Years
Less than 75 CC	₹482	₹2,901
Between 75 CC and 150 CC	₹752	₹3,851
Between 150 CC and 350 CC	₹1193	₹7,365
More than 350 CC	₹2323	₹15,117

For Private Electric Bikes

For private electric bikes, the IRDAI prescribes discounted premium rates based on the vehicle’s motor power (KW). These rates are uniform across insurers and differ depending on whether you choose a 1-year or 5-year policy.

Features	Premium for 1 Year	Premium for 5 Years
Less than 3 KW	₹457	₹2,466
Between 3 KW and 7 KW	₹607	₹3,273
Between 7 KW and 16 KW	₹1,161	₹6,260
More than 16 KW	₹2,383	₹12,849

Disclaimer: Third-party insurance premiums are set by the Insurance Regulatory and Development Authority of India (IRDAI) every year and are subject to change. Always check the IRDAI's official Gazette publications to get up-to-date information on the current year's premium rates.a

Factors That Determine Bike Insurance Premiums

Bike’s Model and Manufacturing

The manufacturing and model of your bike determine its current market value. Different variants of bikes require different levels of coverage. This determines the policy premium that you will need to pay. For eg, the premium and coverage for an expensive bike would be higher than for a budget model.

Bike’s Age

The Next factor that determines the bike insurance premium is the age of your bike. The value of your bike starts depreciating as soon as it leaves the showroom and continues to decline over time. So, the lower the value of your bike, the lower the premium. For instance, Jay bought an Activa in 2022, and Veer bought the same in 2024. Then Jay’s insurance premium will be lower than Veer’s.

Bike’s IDV

IDV is Insured Declared Value. It is the maximum amount that you can claim from your insurance company in case of severe damage or theft. You can choose an IDV based on your bike’s age. The IDV reduces as the bike grows older. Also, the premium changes in proportion to IDV. So, a high IDV means high premiums, and a low IDV means low premiums.

Type of Policy

Two types of insurance policies are offered by the insurance companies. Third-party insurance covers only third-party damage and is mandatory under Indian law. Comprehensive insurance offers all-around protection, including third-party damage. So, the premium for comprehensive insurance would be higher than third-party insurance, because it offers more coverage.

No Claim Bonus

No claim bonus is a discount you receive on your bike insurance premium at the time of renewal if you did not make any claim in the previous policy year. It usually ranges between 20% to 50%. A high NCB lowers your premium, whereas making a claim can decrease or remove this discount.

Add-on Covers

The next key factor that determines your bike insurance premium is add-on covers. While these add-on covers increase the coverage of your policy, they also increase your premium. The more add-ons means higher the premium. That is why it is advisable to choose only those add-ons that are necessary.

Tips to Reduce Bike Insurance Premium

One of the easiest tips to reduce bike insurance premiums is to buy it online. Buying bike insurance online is more cost-efficient than buying offline. The insurers save on agents’ commission and operational costs by selling the policy online. That is the reason they charge a low insurance premium.

The next tip to help lower your bike insurance premium is to install anti-theft devices. If you install anti-theft devices authorised by the Automotive Research Association of India (ARAI) on your bike, the insurer will provide you with a 2.5% yearly discount* on your premium.

Do not buy unnecessary add-ons, as they can increase your premium. Always choose only the add-ons you actually need for your vehicle to keep premiums as low as possible.

Maintaining a good driving record can help you avoid making unnecessary claims under your bike insurance policy. As a result, you will get a ‘No Claim Bonus’. This will ultimately reduce your premium amount.

Always renew your bike insurance policy on time; otherwise, you will lose your NCB reward. Also, renewing your policy after the expiry date may incur additional charges, which will increase your premium. Make sure to renew your policy before the expiry date to keep your premium low.

Key Takeaways

A bike insurance premium calculator is a reliable online tool that helps you assess the cost of insuring your bike before purchasing or renewing a policy. It provides you with a clear understanding of your premium amount so you can plan your insurance budget. The bike insurance calculator considers details such as the bike's make, age, model, engine capacity, registration city and type of coverage chosen.

At IndusInd General Insurance, our free bike insurance premium calculator is developed to help you choose the right coverage without any guesswork. You can check premium estimates, evaluate optional add-ons and see how each choice affects the premium. You can do this all before arriving at a purchase decision.

In addition, we offer the IndusInd Insurance app, which makes managing your bike insurance easier. From claim intimation to policy renewal to accessing policy details, you can handle everything on your smartphone. This lets you manage your bike insurance easily without having to visit branches, saving you time and providing convenience.

Why US

Why 8 Crore+ Policyholders Trust Us?

IndusInd General Insurance (previously Reliance General Insurance) offers affordable premiums, 24/7 customer support and a variety of customisable add-ons, ensuring that no matter what happens, you have reliable support and financial protection at every turn.

Brand - Bike

Up to 5 Years Coverage

Buy once and get covered for 5 years

Video Claims Feature

File claims on your mobile via our app

Choice of 10+ Add-Ons

Extend your bike's coverage

Instantly Renew via Mobile App

Just tap, pay and renew!

Authors - Model Bike

IndusInd General Insurance

Aapke Protection ka All-rounder

IndusInd General Insurance is one of the leading general insurance companies in India. The Company offers a well-rounded and comprehensive bouquet of products including Motor Insurance, Health Insurance, and Travel Insurance, and offers customised solutions to meet the protection needs of each customer.

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Stories shared by our happy customers!

Total Average Rating

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4.9 ★ ★ ★ ★ ★ (52)

Murali Krishna Alla

West Godavari

Quick policy issuance

The journey of purchasing Bike insurance from Reliance Insurance (now IndusInd Insurance) felt effortless and user-friendly. It aligns well with what I needed from an insurance policy. I did not feel the need for any other products at this time.

Kunta Naveen

Vizianagaram

Quick policy issuance

Buying a Bike policy through the platform was straightforward and quick. I felt that my protection needs were well addressed with this policy.

Viral Kumarvinu Bhai Patel

Vadodara

Quick policy issuance

From start to finish, the process of getting my Bike insurance from Reliance Insurance Company (now IndusInd Insurance Company) was convenient. I felt that my protection needs were well addressed with this policy. I did not feel the need for any other products at this time. I'm happy with how everything went and feel secure with my policy.

Kuldeep Singh

Shahjahanpur

Quick policy issuance

I recently purchased my Bike insurance and found the experience very smooth. I felt that my protection needs were well addressed with this policy.

Sandeep Kumar

Raichur

Quick policy issuance

Buying a Bike policy through the platform from Reliance (now IndusInd) was straightforward and quick. It met my requirements well and felt tailored to my needs. Currently, I don't think I require any additional plans or add-ons.

Palepuni Raja

Nizamabad

Quick policy issuance

I recently purchased my Bike insurance from Reliance Insurance (now IndusInd Insurance) and found the experience very smooth. I felt that my protection needs were well addressed with this policy. No additional coverage seemed required for my needs. The process felt reliable and I would recommend it to others.

Harish S

Nilgiris

Quick policy issuance

Buying a Bike policy through the platform from Reliance Insurance Company (now IndusInd Insurance Company) was straightforward and quick. It met my requirements well and felt tailored to my needs. Currently, I don't think I require any additional plans or add-ons. I found the entire process trustworthy and efficient.

Aravinthsarathy B

Nagapattinam

Quick policy issuance

The journey of purchasing Bike insurance felt effortless and user-friendly. The plan offered exactly the type of coverage I was expecting.

Dhananjay Nair

Kanyakumari

Quick policy issuance

From start to finish, the process of getting my Bike insurance from Reliance (now IndusInd) was convenient. I felt that my protection needs were well addressed with this policy. I am satisfied with the main policy and don't see a need for extras. I found the entire process trustworthy and efficient.

Rosan Patel

Jharsuguda

Quick policy issuance

Buying a Bike policy through the platform of Reliance Insurance (now IndusInd Insurance) was straightforward and quick. It aligns well with what I needed from an insurance policy. I did not feel the need for any other products at this time. The process felt reliable and I would recommend it to others.

Surendra Kumar Sain

Jhansi

4.5

Value for money

I recently purchased my Bike insurance and found the experience very smooth. I'm happy with how everything went, product offering is fine.

Kulamatiadi Venkat Rama Appa Rao

Hyderabad

Quick policy issuance

From start to finish, the process of getting my Bike insurance from Reliance General Insurance (now IndusInd General Insurance) was convenient. It aligns well with what I needed from an insurance policy. I am satisfied with the main policy and don't see a need for extras.

Uma Devirallabandi

Hyderabad

Quick policy issuance

I had a positive overall experience while applying for Bike insurance. The coverage provided matches my expectations and feels comprehensive.

Raj Kumar Goudburu

Hyderabad

Quick policy issuance

I had a positive overall experience while applying for Bike insurance from Reliance Insurance Company (now IndusInd Insurance Company). I felt that my protection needs were well addressed with this policy. No complementary product was necessary for me at this stage. The process felt reliable and I would recommend it to others.

Vijay Maken

Gurgaon

Quick policy issuance

I recently purchased my Bike insurance and found the experience very smooth. It aligns well with what I needed from an insurance policy.

Manish Kumar Yadav

Gonda

Quick policy issuance

From start to finish, the process of getting my Bike insurance was convenient. The coverage provided matches my expectations and feels comprehensive. No complementary product was necessary for me at this stage. Overall, it was a seamless Reliance Insurance (now IndusInd Insurance) experience and I am satisfied.

Arun Jain

Faridabad

Quick policy issuance

I recently purchased my Bike insurance from Reliance General Insurance (now IndusInd General Insurance) and found the experience very smooth. It met my requirements well and felt tailored to my needs. I am satisfied with the main policy and don't see a need for extras. The convenience and clarity made this a good experience.

Sandip Chandrakant Mali

Dhule

Quick policy issuance

From start to finish, the process of getting my Bike insurance from Reliance Insurance Company (now IndusInd Insurance Company) was convenient. The coverage provided matches my expectations and feels comprehensive. I did not feel the need for any other products at this time.

Jashobanta Parida

Dhenkanal

Quick policy issuance

The journey of purchasing Bike insurance felt effortless and user-friendly. I felt that my protection needs were well addressed with this policy.

Subrata Kumarsahani

Cuttack

Quick policy issuance

Buying a Bike policy through the platform of Reliance Insurance Company (now IndusInd Insurance Company) was straightforward and quick. I felt that my protection needs were well addressed with this policy. No additional coverage seemed required for my needs.

Janet Joshikad

Coimbatore

Quick policy issuance

Buying a Bike policy through the platform was straightforward and quick. The plan offered exactly the type of coverage I was expecting.

Sathiamourthy Priya

Coimbatore

Seamless digital experience

The journey of purchasing Bike insurance felt effortless and user-friendly. The policy coverage and offerings do not match my requirements.

Hiren Kumar Raju Bhai Tailor

Bharuch

Quick policy issuance

I had a positive overall experience while applying for Bike insurance Reliance Insurance (now IndusInd Insurance). The plan offered exactly the type of coverage I was expecting. I am satisfied with the main policy and don't see a need for extras.

Abhishek Neelakantachar

Bengaluru

Quick policy issuance

I recently purchased my Bike insurance and found the experience very smooth. The plan offered exactly the type of coverage I was expecting.

Guru Nathakooni

Bengaluru

Quick policy issuance

From start to finish, the process of getting my Bike insurance was convenient. It met my requirements well and felt tailored to my needs.

Aniket Rai

Bengaluru

Quick policy issuance

The journey of purchasing Bike insurance from Reliance Insurance (now IndusInd Insurance) felt effortless and user-friendly. The coverage provided matches my expectations and feels comprehensive. Currently, I don't think I require any additional plans or add-ons.

Aneesh Krishnan Nair

Bengaluru

Quick policy issuance

From start to finish, the process of getting my Bike insurance from Reliance Insurance (now IndusInd Insurance) was convenient. It met my requirements well and felt tailored to my needs. Currently, I don't think I require any additional plans or add-ons. I found the entire process trustworthy and efficient.

Madhava Rao Nagesh Rao

Bengaluru

Quick policy issuance

The journey of purchasing Bike insurance from Reliance Insurance (now IndusInd Insurance) felt effortless and user-friendly. The plan offered exactly the type of coverage I was expecting. Currently, I don't think I require any additional plans or add-ons. I found the entire process trustworthy and efficient.

Vinita Jain

Ahmedabad

Quick policy issuance

I recently purchased my Bike insurance and found the experience very smooth. It met my requirements well and felt tailored to my needs.

Rupesh Pandurang Khamgaonkar

THANE

Seamless digital experience

Getting my IndusInd two-wheeler insurance policy online was a breeze with a quick step-by-step guide to take me through the process.

Mr Javed Khan Maheboob Khan Pathan

NILANGA

Value for money

My bike is used only for nearby rides, so I wanted simple protection at a sensible price. The plan matched that without feeling costly.

Hemanth Kumar

MAGADI

Easy application

I wanted my RC and insurance papers together on my phone. After finishing the form, I downloaded the copy and saved it with my vehicle documents.

Manoj Kumar Modi

ANGUL

Seamless digital experience

I remembered the scooter renewal after dinner and finished it from home. The steps were short, and the document was ready without any delay.

Sanjaykumar Rajkumar Menase

AKKALKOT

Quick policy issuance

My two-wheeler insurance policy was issued instantly after payment completion.

Vikas Savlani

DAMOH

Easy application

Had a very smooth experience applying for the policy online.

Himanshu Kumar

CHANDI

Easy application

I was a little unsure while entering the registration number, but the steps were simple. I filled it carefully and got the insurance copy soon after.

Govindji Turam Suthar

MUMBAI

Quick policy issuance

I wanted all my bike papers updated before the month-end. I renewed online and downloaded the insurance copy right away.

Satinder Singh

GURGAON

Seamless digital experience

I usually delay insurance work because it feels boring, but this was not confusing. I followed the steps slowly and finished it myself.

Manoj Hirabhai Chudasama

BHAVNAGAR

Easy application

I compared options for my scooter and chose one that did not add things I would never use. The amount felt right for daily local travel.

Nagavenkata Basava Subbareddyped

TIRUMALAGIRI

Easy application

I renewed my two-wheeler insurance during a small break at work. Everything opened properly on my phone, and I did not need to call anyone.

Bonkanpally Raghupathi

NIZAMABAD

Value for money

My scooter is used mostly for quick nearby work, so I wanted the insurance done without much effort. The form was short, and I was able to complete it easily on my phone.

Deepa R

COIMBATORE SOUTH

Quick Policy Issuance

I had taken a second-hand scooter and wanted the insurance sorted properly. The steps were clear, and I could update the details without getting stuck.

S M Karunya Krishna

CHITTOOR

Quick Policy Issuance

I realised my bike insurance had expired while keeping my vehicle papers ready. I renewed it online and got the copy within minutes.

Shivappa Nayakar

BANGALORE NORTH

Quick Policy Issuance

I had to go out urgently and wanted to be sure my bike insurance was active. The message came soon after payment, which gave me peace of mind.

Vimala V

PUZHITHIVAKKAM

Seamless Digital Experience

Our scooter is used by everyone at home for small work nearby. I wanted the insurance active, and the online process was quick enough to finish from home.

Payal Priyadarshani Nath

HYDERABAD

Quick Policy Issuance

I remembered my bike insurance renewal while I was outside. I completed it on my phone and saved the document before riding back.

Murthy Lakshminarasimha Dasari

RAJENDRANAGAR

Seamless digital experience

I forgot about the renewal till the last day. I completed it in the evening and got the policy message quickly, so I could ride the next morning.

Kiran Tanguturi Kumar

PRODDATUR

Value for money

My bike is mainly for office and small errands. I didn't want a heavy premium, and the cover felt enough for my daily riding.

Ramesh Kumar Ramjas Shukla

MUMBAI

Quick policy issuance

I didn't have all my documents handy, but the form only required basic bike details, which made it easy to complete.

Diddi Ramesh

HYDERABAD

Easy application

I don't ride long distances, so I wanted a normal plan for city use. The price felt reasonable for the kind of protection I needed.

Relevant Links for Two Wheeler Insurance

Bike Insurance

Third Party Bike Insurance

Scooter Insurance

Electric Bike Insurance

Bike Insurance - Disclaimer

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Frequently Asked Questions (FAQs)

What is zero depreciation in bike insurance?

When you claim damage to your bike, the insurance company deducts depreciation on the replaced parts. That’s where the importance of zero depreciation comes; it helps in covering this deduction, so you get a higher claim amount. You can get this add-on by paying a small additional premium.

What is IDV, and how to calculate it?

IDV is an acronym for Insured Declared Value. It is the estimated current value of your bike, used to calculate premiums and claims during payouts. The IDV of a bike is calculated by applying this formula:” Ex showroom price- Depreciation (based on the age of the bike).

What is NCB in bike insurance?

NCB stands for No Claim Bonus. It is basically a reward your insurer offers you for not making any claims during the policy period. Every claim-free year lets you earn a discount on the premium for the next policy renewal. This helps in lowering the cost of your bike insurance.

What is a voluntary deductible in two-wheeler insurance, and how is it beneficial?

When you make a bike insurance claim, and it is cleared, there are two parts of the total claim payment. Out of the two parts, one is paid by us and the other by you. Your part in this is called deductible or excess. It can be a combination of voluntary and compulsory. Voluntary is the extra amount that you choose to pay during a bike insurance claim, in excess of the amount that we have set for you to pay. A voluntary deductible is generally used by individuals to bring down their bike insurance premiums.

How to calculate insurance premium on a second-hand bike?

The insurance premium on a second-hand bike is calculated just like a new bike. It also depends on factors such as the bike's model, manufacturer, and variant, the bike's registration city, the type of plan chosen, etc. However, the insurance premium is comparatively lower for second-hand bikes because it depends on the bike's age.