Example data table
| Scenario | Value (₹) | Year | cc | Miles | Storage | Coverage | Deductible (₹) | Est. annual (₹) |
|---|---|---|---|---|---|---|---|---|
| Show-only, secure storage | 5,500 | 1978 | 350 | 800 | Secure facility | Comprehensive | 1,000 | ~2,900 |
| Weekend rider | 7,500 | 1988 | 650 | 2,200 | Locked garage | Comprehensive Plus | 500 | ~5,200 |
| Higher mileage, street parking | 6,200 | 1995 | 900 | 6,500 | Street parking | Liability | 250 | ~3,600 |
Formula used
The calculator uses a transparent multiplier model:
- BasePremium = BikeValue × BaseRate% (rate depends on coverage).
- AdjustedPremium = BasePremium × Π(Multipliers) for risk factors.
- DiscountedPremium = AdjustedPremium × DiscountFactor.
- EstimatedAnnual = DiscountedPremium + AddOnFlat.
Multipliers represent common pricing drivers: mileage, storage, security, rider profile, history, and location.
How to use this calculator
- Enter the bike’s market value, year, engine cc, and annual mileage.
- Select storage and security options that match real practice.
- Choose coverage level and deductible to compare tradeoffs.
- Update rider profile and history for realistic outputs.
- Press Calculate premium to see results above.
- Use CSV/PDF to save or share your scenario.
Why classic motorcycles rate differently
Classic policies focus on limited-use ownership patterns and parts scarcity. This calculator combines vehicle value, age, engine size, and annual mileage to estimate exposure and repair severity. For example, mileage bands step from 0.88× (≤1,000 miles) to 1.30× (>8,000 miles), reflecting rising time-on-road risk.
Coverage level and base rate impact
The base premium starts as BikeValue × BaseRate%. Liability uses 1.2%, Comprehensive 2.2%, and Comprehensive Plus 2.8%. These rates are proxies for how much loss cost the policy must fund before any personal risk factors apply.
Storage, security, and theft exposure
Storage and security influence theft and weather losses. Locked garages use 0.92×, secure facilities 0.88×, driveways 1.05×, and street parking 1.15×. Security ranges from 1.10× for none to 0.90× for multiple devices, allowing you to quantify the value of real-world prevention.
Rider profile, history, and location
Rider age and experience adjust frequency expectations. Under 25 uses 1.25×, while experienced riders can reach 0.97× after five years. Claims add 0.18 per claim and tickets add 0.10 per ticket. Location risk ranges from 0.93× (low) to 1.14× (high), capturing theft density and repair-cost differences.
Deductibles, layup months, and discounts
Higher deductibles reduce premium, down to 0.86× at ₹1,500+. Seasonal layup reduces exposure by 3% per month, capped at 18%. Optional add-ons are flat loads (₹25 roadside, ₹35 spares). Discounts apply multiplicatively: 6% for multi-policy and 4% for club membership, helping you compare bundles accurately.
FAQs
1) Is this a real insurance quote?
No. It is an educational estimate using transparent multipliers. Insurers may use different rating tables, eligibility rules, minimum premiums, and local regulatory adjustments.
2) What value should I enter for my motorcycle?
Use a realistic market value or documented appraisal. For restorations, avoid optimistic asking prices; base the number on recent comparable sales and condition.
3) Why does mileage change the premium so much?
Mileage is a direct exposure proxy. More miles generally increases the chance of collisions and roadside incidents, so the model scales premium across mileage bands.
4) How do deductibles affect the estimate?
A higher deductible shifts small losses to the rider, lowering the insurer’s expected payout. The calculator applies a step-down factor as deductibles increase.
5) What is agreed value and why can it cost more?
Agreed value locks in a settlement amount for covered total losses. Because payout certainty can increase expected cost, the calculator applies a small load.
6) Can I compare multiple scenarios?
Yes. Adjust one variable at a time, recalculate, then export CSV or PDF. This makes it easy to compare coverage levels, deductibles, storage, and mileage.