Insurance is like a spare tyre. You may not require it, but not having one is not an option.
  • Factors Affecting Your Two Wheeler Insurance Premium

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    Buying two wheeler insurance, besides being required by law, has a whole host of benefits. The biggest of these is providing cover in the event of an accident or untoward incident involving your precious two wheeler. Other advantages would depend on the type of cover you choose and range from providing protection from natural calamities to incidents like vandalism and theft.

    When buying two wheeler insurance, most of us keep one eye on the premium amount when comparing policies. Seeing that figure jump with each passing renewal is enough to cause heartburn to even the most hardened budgeter. So what drives this increase and what complicated computations are behind that figure that provides protection to you and your bike/scooter? We’ve broken down the what’s and how’s that go into the calculation of a two wheeler insurance premium, making it a little easier for you to choose the policy that suits your requirements the best.

    Type of Insurance Cover:

    The type of insurance cover being sought is a major factor that influences the final premium amount. Two wheeler insurance can either be the mandated third party insurance (also known as liability only insurance) or comprehensive two wheeler insurance.

    The liability only policy has lower premiums, but is a very bare bones policy, only covering damage to a third party or a third party’s property and does not cover any damage to the policyholder’s vehicle.

    A comprehensive two wheeler insurance covers third party liability as well as damage or total loss of the insured vehicle due to man-made and natural calamities, theft and vandalism among others.

    Depending on your requirements, either one of the policies can be chosen.

    Type of Vehicle:

    The type of vehicle you own also goes a long way in determining your premium amount. The make and model of the two wheeler, the place of registration, any accessories and modifications made to the vehicle and the mileage all play a role in determining the premium amount.

    The cubic capacity (cc) of the vehicle has a direct influence on the premium amount. The higher the cc, the higher the premium amount payable.

    Rider Particulars:

    The age, riding experience and gender of the rider also affect the premium amount. Insurers value stability and security, resulting in a male applicant with around 5 years of riding experience getting a lower premium over a male applicant with just a year’s worth of experience.

    Add-on Covers:

    The number of add-on covers you choose to add to your existing premium will impact the premium you have to pay. While add-on covers protect you from incidents not covered by your regular policy, they come at a cost. Choosing the add-on covers carefully to ensure you only pay for what you need is a good way to lower your premium ceiling.

    The above factors go a long way in determining your premium amount. Trimming down on unnecessary add-ons and ensuring you maintain a stable and clean riding record would result in an automatic reduction in the amount you would have to pay towards premium.

    Comparing the policies available and reading the fine print for hidden charges are the best ways to ensure you get the best deal and the maximum benefit from your insurance policy without breaking the bank when it comes to premium payments.

    Factors Affecting Two Wheeler Insurance Premium Reviews

  • Page 1 of 50 1 2 3 4 5
    • Shriram Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a two wheeler insurance with Shriram general insurance from last 8 months, i am happy with the coverage value of this insurance policy. A premium of Rs 3200 has to be paid for 1 year for this policy. I have not claimed anything so far from this insurance policy.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Aug 17, 2018
    • Bajaj Allianz Two Wheeler Insurance
      "Good Policy"
      0.5 5.0/5 "Blown Away!"
      I have a two wheeler insurance with Bajaj Allianz from last 1 year, i am happy with the coverage value of this insurance policy. I have not claimed anything so far from this insurance policy. I am not aware of the premium amount of this insurance policy.
      Was this review helpful? 0
      , new delhi
      Reviewed on Aug 17, 2018
    • L and T Two Wheeler Insurance
      "Good Policy"
      0.5 3.0/5 "Satisfactory"
      I have my two wheeler insured with L& T insurance from last 6 months, i pay a premium of Rs 2600 and the amount gets auto debited from the salary account. I have not claimed anything so far with this insurance. The coverage value and plan benefits are good in this policy.
      Was this review helpful? 1
      , chennai
      Reviewed on Aug 17, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Average Service"
      0.5 4.0/5 "Great!"
      My bike is insured with the ICICI Lombard General Insurance. I have paid 5100 for first three years, the policy covers the entire bike and they also offered an IDV value 85000. I do not have any claim experience with the policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Aug 16, 2018
    • Bajaj Allianz Two Wheeler Insurance
      "Best Policy"
      0.5 5.0/5 "Blown Away!"
      I have taken two wheeler insurance from Bajaj allianz insurance policy , i got this policy through the showroom where i got the two wheeler . Am satisfied with the premium amount which am making the payments its has good coverage . The good about their service is they used to remind the customers for renewal .
      Was this review helpful? 3
      , bangalore
      Reviewed on Aug 13, 2018
    • Oriental Insurance Two Wheeler Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've a bike insurance policy with the Oriental Insurance Company. I am paying a premium of 1200, I do have a claim experience with the policy where I was able to claim 15000-16000. The whole claim process was easy and hassle free. Overall ti has been a good experience with the services.
      Was this review helpful? 2
      , chennai
      Reviewed on Aug 13, 2018
    • Iffco Tokio Two Wheeler Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I have my two wheeler insured with IFFCO TOKYO from last 3 years, my claim experience with this insurance was good and they covered 60% which is satisfactory. A premium of Rs 1600 has to be paid for this insurance policy and i am happy with the plan benefits of this policy.
      Was this review helpful? 3
      , kolkata
      Reviewed on Aug 09, 2018
    • New India Two Wheeler Insurance
      "Good Service"
      0.5 4.5/5 "Excellent!"
      My bike is insured with the new India Assurance. I am paying the premium of 1000 per year. There is no claim experience with the policy. I haven't faced any issues with the policy so far. As long as there is no claim experience I am not able to portray their service in a correct manner.
      Was this review helpful? 6
      , hyderabad
      Reviewed on Aug 04, 2018
    • National Insurance Two Wheeler Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've been using the Bike Insurance Policy from the national insurance. I am paying a premium of 1500 per year. There hasn't been any claims for this policy. So far I haven't faced any issues with their services. I'll have to wait and see how they respond to my claims in future if I will have any.
      Was this review helpful? 1
      , kochi
      Reviewed on Aug 04, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      My two wheeler insurance policy is with ICICI lombard from last 1 year, i am happy with the plan benefits and policy coverage of this insurance policy. I have not claimed anything so far from this insurance policy and i pay a premium of Rs 3000 every year.
      Was this review helpful? 4
      , bangalore
      Reviewed on Jul 31, 2018
    • HDFC Ergo Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      My two wheeler is insured with HDFC ERGO from last 2.5 years, i am happy with the coverage value and plan benefits of this insurance policy. I pay a premium of Rs 1150 for this insurance policy and i have not claimed anything so far from this insurance.
      Was this review helpful? 5
      , lucknow
      Reviewed on Jul 31, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      I've been using the Bike Insurance policy from the ICICI Lombard. The premium is 3600 per year, the policy covers only metal parts. The premium got increased, I do not have claim experience. I make the premium payments via the agent.
      Was this review helpful? 7
      , bangalore
      Reviewed on Jul 28, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Good policy to have"
      0.5 4.0/5 "Great!"
      I have made the premium of Rs. 4500 for 1 years. Cashless service is available because its a 1 year old bike. I have not utilized their service. I can claim upto Rs. 1.80 lakhs. Cashless service also available. I have never spoke with the customer care service so far. Its a third party insurance policy.
      Was this review helpful? 6
      , bangalore
      Reviewed on Jul 26, 2018
    • Bharti Axa Two Wheeler Insurance
      "Average Service"
      0.5 4.0/5 "Great!"
      My Bike is insured with the Bharti Axa Insurance company. I am paying a premium of 1200 per year, the policy covers entire bike. I've been using the policy for the past 4 years and I do not have any claim experience with the policy so far.
      Was this review helpful? 5
      , kolkata
      Reviewed on Jul 26, 2018
    • Tata AIG Two Wheeler Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      My bike is insured with the Tata AIG . I am paying a premium of 1200 per year, it also has got Zero depreciation. I do not have any claim experience with the policy so far. Considering the premium I pay it is a recommendable policy to have.
      Was this review helpful? 5
      , new delhi
      Reviewed on Jul 26, 2018
    • Bajaj Allianz Two Wheeler Insurance
      "Average policy"
      0.5 4.0/5 "Great!"
      I am taken this policy nearly one year back from Bajaj. I don't have any claim experience so far. I'm not aware of the plans and benefits of this policy. I have paid the premium amount of Rs. 3300. I'm not aware of the bumper to bumper option. The premium amount is quite high when i compared with other companies.
      Was this review helpful? 5
      , bangalore
      Reviewed on Jul 25, 2018
    • New India Two Wheeler Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've been using the New India Insurance bike policy for a while. I am paying a premium of 1500 per year, the policy covers the entire bike. I do not have any claim experience with the policy so far. I am paying the premium mostly online.
      Was this review helpful? 3
      , bangalore
      Reviewed on Jul 25, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I have taken two wheeler insurance from ICICI Lombard general insurance for this. I made the payment for monthly through on-line banking . Customer service and response is good . It has good policy coverage with good policy benefits like vehicle towing and cashless garage.
      Was this review helpful? 4
      , new delhi
      Reviewed on Jul 25, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my two wheeler insured with ICICI lombard from last 12 years, i am happy with the coverage value of this insurance policy. A premium of Rs 1000 has to be paid for this insurance policy. I have no claim experience so far with this insurance policy.
      Was this review helpful? 4
      , chennai
      Reviewed on Jul 25, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      My bike is insured with the ICICI Lombard General Insurance. I am paying a premium of 3000 per year, the policy covers the entire bike and it also offers accidental benefits. The premium is little bit on the higher side and there hasn't been any claim made till date.
      Was this review helpful? 5
      , noida
      Reviewed on Jul 24, 2018
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