Reliance Bike Insurance Premium Calculator

How to Use Reliance Two-Wheeler Insurance Premium Calculator?

Reliance bike insurance premium calculator can be used with these simple steps:

• Enter two-wheeler registration number
• Enter your email ID
• Provide the two-wheeler’s make, model, and variant
• Enter your phone number
• Click to accept the terms and conditions and click “Check Premium” to generate the quote for the Reliance bike insurance premium calculator
• You can also tick on the past claim status, and then click on the “Calculate” button to generate and display the premium estimates from various insurers alongside the coverage IDV

Benefits of Two-Wheeler Insurance Premium Calculator

The primary purpose of the Reliance bike insurance premium calculator is to get an estimate of the policy’s premium. The customer can enlarge the scope for a broader canvas with the aggregator’s bike insurance calculator. Accordingly, the significant benefits accrued for using the online premium calculator are:

• Make the Right Choice: Compare the various estimates quoted by different insurers based on the input to compare and choose the best suited.
• Find the perfect IDV: The generated outcome also mentions the estimated IDV cover for the quoted premium. The customer can safely choose the best offer to assure of the value to receive upon total loss.

Third-Party Two-Wheeler Insurance Premium Rates

The IRDAI standardizes the premium rates for the compulsory third-party insurance as given in the table below:

Source: IRDAI

Factors Affecting Two-Wheeler Insurance Premium

Some of the  factors affecting the bike insurance premium rates are given below:

• Insured Declared Value (IDV):The value denotes the insured two-wheelers market price, and the amount is paid in accordance to the IDV to the policyholder at the time of claim settlement or total loss.
• Engine Capacity:As it has a direct impact on the two-wheeler’s performance, the risk goes up with a higher Engine Capacity. Accordingly, the premium also increases.  
• Anti-Theft Devices: Insured two-wheelers with such devices reduce the risk of theft or burglary, thus inviting a lower premium.
• No-Claim Bonus:It is recognition for the driver sticking to safe driving norms. With every claim-free year, the policyholder is benefited from a lower renewal premium. NCB generally ranges from 20% to 50% for subsequent claim-free years.

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