Home Finance Is the Two-Wheeler Insurance Premium Calculator Providing Accurate Results?

Is the Two-Wheeler Insurance Premium Calculator Providing Accurate Results?

by Harold Leroy

Insurance always acts as a protection that saves you from the damage or loss caused to your bike in the event of any mishap. It covers the expenses associated with the damage. Insurance for two-wheelers comes in several types according to the facilities and coverage it provides.

Finding the right insurance and comparing it in terms of price can be a challenging task while buying insurance. But, with the advent of technology, this has been made easier, where you can check the insurance premium cost just by selecting the facilities you are looking for and the details for your two-wheeler.

Insurance premium calculator takes that information as input to calculate the premium cost and provides you with an Insurance declared Value. This eases the process of purchasing a bike insurance policy. While this is useful, let us also check more about its functions and the accuracy it provides.

 Characteristics of Two-wheeler Insurance Calculator

The two-wheeler insurance premium calculator helps you find out the premium of bike insurance that you would need to pay each month or annually as per the insurance provider’s agreement. The following are the characteristics of a motorcycle insurance calculator:

  • The bike insurance calculator is designed to be user-friendly, offering a seamless and handy experience for individuals purchasing bike insurance. It’s a 24/7 facility that users can access to know the cost of the premium they would have to pay to get the insurance coverage.
  • While calculating, it asks for the bike and owner’s details, which are required to be filled in correctly for the insurance premium calculation.
  • If any customisation is needed, like add-on insurance drivers, it is available to choose from while calculating.
  • An insurance premium calculator for a two-wheeler is time-saving as we do not have to reach out to an agent for the cost of premium calculation.
  • Also, choosing the best insurance suitable for your bike will provide you with the convenience of easy comparison of the cost.

 Two Wheeler Insurance Calculator Usage Guidelines

Users will always need to adhere to specific guidelines when using an online bike insurance calculator:

  1. Fill up accurate and up-to-date information about your motorcycle and your details like bike registration number, state of registration of bike, purchase price, age of motorcycle, etc.
  2. Verify the credibility of the insurance calculator by checking the reviews and feedback on the insurance provider’s website or any other informative sites available. Opt for reliable calculators like the one present on the Tata AIG website..
  3. Use the calculator as a tool for estimation of the insurance premium. The final premium may vary based on the additional factors and considerations of the insurance company after checking the bike’s condition or analysing the accuracy of the details provided.

 Factors that Can Impact Calculation

Some factors can lead to differences between the calculated insurance premium value and the premium of the original policy. Here are some factors that can lead to inaccurate results in two-wheeler insurance premium calculators:

 Geographic Location

Purchasing motorcycle insurance from some states can cost you differently. Certain regions have different traffic rules and regulations, and that can impact the insurance amount.

Hence, the insurance premium value can differ from those calculated. Sometimes, climate risks and road conditions in the region also impact the cost of motorcycle insurance.

 Bike Modifications

Customisation of the bike is a significant change that can impact its functionality. This customisation may not be adequately considered by the calculator and, hence, is not reflected in the premium amount. This can either increase or decrease the premium cost of the two-wheeler insurance.

 Insurance History

The insurance provider needs to know the insurance, if any, the bike owner has.  For example, suppose third party bike insurance is taken and is mandatorily valid for some years, but the owner needs comprehensive insurance for the period, including the covered period.

In that case, it might get a little complicated for the insurance calculator to deliver reliable results. It is better to contact the insurance company in such a situation.

 Discounts and Offers

Ongoing offers and discounts may not be included in the insurance premium calculation. The premium price must be less than what is shown by the calculator. Hence, this may lead to a difference in the actual premium of the policy and the motorcycle insurance premium calculator.

 Policy Add-ons

The insurance calculator provides the facility to add-on insurance drivers, but sometimes, if the calculator is not upgraded, it might miss some facilities. Checking it with the insurance provider directly would be more helpful in such a case.


The results of the insurance premium calculator are suitable for calculating the estimated value of insurance. If there are any differences between the claim premium value and the calculated value, it can be discussed with the insurance provider agent.

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