Two Wheeler Third Party Insurance Premium Calculator
In India, two-wheeler insurance policies are of two types - third-party insurance and comprehensive insurance. Third-party insurance is a mandatory requirement for all bike owners. As a result, the IRDAI (Insurance Regulatory and Development Authority of India) regulates the premium of third-party motor insurance policies.
The IRDAI mostly considers the cubic capacity (cc) of your bike's engine for calculating the premium. For instance, for FY 2019/20, the yearly third-party insurance premium is Rs. 482 for bikes with engine capacity less than 75cc. The premium for bikes between 75cc and 150cc is Rs. 752. The IRDAI generally increases the premium by around 10%-20% every year.