Liberty Bike Insurance Premium Calculator

How to Use Liberty Two-Wheeler Insurance Premium Calculator?

The steps to use the Liberty bike insurance premium calculator are simple and are given below:

• Go to the official website of Policybazaar.com
• Enter the details of your bike. The details will include the manufacturer, model, version, and fuel choice.
• In the next step, you have to enter the registration details of the bike. This will include the year of purchase and registration. Furthermore, the Liberty Bike Insurance Premium Calculator will also ask the city of registration.
• You have to then select if you had filed any claims in the previous years when the policy was valid.
• On clicking the ‘Calculate’ button, you can find the exact premium payable.

Benefits of Two-Wheeler Insurance Premium Calculator

Liberty bike insurance premium calculator provides the following benefits:

• Correct IDV- You can always get the correct Insured Declared Value (IDV). Since the calculator takes in so many different parameters, it is generally very accurate.
• Save on the Premiums- Because of the same factors as mentioned before, the accuracy for premiums is also great. It is the primary deciding before buying a policy.
• Easy Comparison- You can easily compare with other policies and see if the Liberty bike insurance policyis the best for you

Third-Party Two-Wheeler Insurance Premium Rates

The third-party two-wheeler insurance premium rates, as given by the Insurance Regulatory and Development Authority of India (IRDAI), are given below:

Source: Insurance Regulatory and Development Authority of India (IRDAI))

The premium for Comprehensive and Standalone Own-Damage Bike Insurance Plans

Various factors determine premiums that are taken into account by two wheeler insurance premium calculator. For example, two different persons may own the same bike. Therefore, the manufacturer, model, version might be the same. However, if the fuel type is different, the premium will be different.

Furthermore, even if the fuel type is the same, the city of registration might be different. That will also influence the premiums. Hence, it is always better to understand these factors in detail, even if the calculator can do the work in the background. And because of such factors, the premium rates for comprehensive and standalone own-damage bike insurance plans differ from customer to customer.

Factors Affecting Two-Wheeler Insurance Premium

The various factors that are considered when calculating premiums are given below:

• Manufacturer: The reputation, reliability, and network of the manufacturer make a lot of difference. Some examples of prominent manufacturers are TVS, Honda, Hero, and Bajaj.
• Models, Versions, Engine Capacity, and Fuel Type: Engines vary from model to model. As a thumb rule, with all other factors remaining constant, higher engine capacity means higher premiums.
• Registration Location: Based on the registration location, there might be higher instances of accidents. Or there may be fewer service garages. All of these factors affect the premium.
• Add-on Benefits: You can opt for added benefits with every bike insurance online, such as zero depreciation and third-party cover. Add-ons mean enhanced coverage at a higher premium.