Commuting
Leisure/Social
Business Use
Delivery/Courier
Estimated Annual Premium:
$0.00
Understanding Your Motorbike Insurance Premium
Calculating motorbike insurance premiums involves several factors that insurers use to assess the risk associated with insuring your ride. This calculator provides an estimated annual premium based on common underwriting factors. The actual premium offered by an insurance provider may vary.
Key Factors Influencing Your Premium:
Engine Capacity (cc): Larger engines often mean higher speeds and potentially greater risk of accidents, leading to higher premiums.
Motorbike Value ($): The higher the value of your motorbike, the more it will cost to replace or repair in case of a claim, increasing the premium.
Rider Age: Statistically, younger and less experienced riders may face higher premiums due to a higher likelihood of accidents.
Riding Experience (Years): More experience typically correlates with safer riding habits, which can lead to lower premiums.
Coverage Type: The level of protection you choose significantly impacts the cost. Comprehensive coverage is the most expensive as it covers damage to your own bike, third-party liability, and often theft/fire. Third-Party Only is the most basic and least expensive, covering only damages or injuries to others.
Security Features: Features like alarms, immobilizers, and GPS trackers can deter theft, potentially leading to discounts.
Usage Type: How you use your motorbike affects risk. Daily commuting or business use, especially for delivery, generally involves more mileage and exposure to road hazards, leading to higher premiums than occasional leisure use.
How the Calculator Works (Simplified Model)
This calculator uses a simplified, proprietary model to estimate your premium. It assigns base rates and multipliers to each input factor.
Base Premium: A starting point derived from the motorbike's value and engine capacity.
Age/Experience Adjustment: Premiums are adjusted based on age and experience brackets. Younger riders with less experience will see higher adjustments.
Coverage Multiplier: Different coverage types have different base multipliers (e.g., Comprehensive is higher than Third-Party).
Usage Factor: Usage type influences the premium (e.g., Delivery is typically rated higher risk).
Security Discount: A percentage discount is applied if security features are present.
Example Calculation Logic (Illustrative – Not Actual Formula):
Premium = ( (BikeValue / 1000) * BaseEngineFactor + (BikeValue * CoverageMultiplier) )
* AgeExperienceFactor
* UsageFactor
* (1 - SecurityDiscountRate)
The exact weights and factors are determined by actuarial data and risk assessment specific to insurance companies.
Disclaimer: This calculator is for estimation purposes only. It does not guarantee an insurance quote. Always consult with licensed insurance providers for accurate and binding quotes.
function calculateInsurance() {
var engineCapacity = parseFloat(document.getElementById("engineCapacity").value);
var bikeValue = parseFloat(document.getElementById("bikeValue").value);
var riderAge = parseFloat(document.getElementById("riderAge").value);
var ridingExperience = parseFloat(document.getElementById("ridingExperience").value);
var coverageType = document.getElementById("coverageType").value;
var securityFeatures = document.getElementById("securityFeatures").value;
var usageType = document.getElementById("usageType").value;
var estimatedPremium = 0;
// — Base Premium Calculation —
var basePremiumFactor = 0.05; // Base rate per dollar of bike value
var engineCapacityFactor = 1; // Multiplier for engine size
if (engineCapacity > 1000) {
engineCapacityFactor = 1.5;
} else if (engineCapacity > 750) {
engineCapacityFactor = 1.2;
} else if (engineCapacity > 250) {
engineCapacityFactor = 1.0;
} else {
engineCapacityFactor = 0.8;
}
var basePremium = (bikeValue * basePremiumFactor) * engineCapacityFactor;
// — Coverage Type Adjustment —
var coverageMultiplier = 1.0;
if (coverageType === "thirdParty") {
coverageMultiplier = 0.6;
} else if (coverageType === "thirdPartyFireTheft") {
coverageMultiplier = 0.85;
} else if (coverageType === "comprehensive") {
coverageMultiplier = 1.2;
}
// — Age and Experience Adjustment —
var ageExperienceFactor = 1.0;
if (riderAge < 21) {
ageExperienceFactor *= 1.5; // Higher risk for young riders
} else if (riderAge < 25) {
ageExperienceFactor *= 1.2;
}
if (ridingExperience < 2) {
ageExperienceFactor *= 1.3; // Higher risk for very new riders
} else if (ridingExperience < 5) {
ageExperienceFactor *= 1.1;
}
// — Usage Type Adjustment —
var usageFactor = 1.0;
if (usageType === "commuting") {
usageFactor = 1.15;
} else if (usageType === "business") {
usageFactor = 1.4;
} else if (usageType === "delivery") {
usageFactor = 1.7; // Highest risk
}
// — Security Features Discount —
var securityDiscount = 0.0;
if (securityFeatures === "alarm") {
securityDiscount = 0.05;
} else if (securityFeatures === "gpsTracker") {
securityDiscount = 0.07;
} else if (securityFeatures === "immobilizer") {
securityDiscount = 0.06;
} else if (securityFeatures === "all") {
securityDiscount = 0.15; // Combined discount
}
// — Final Calculation —
estimatedPremium = basePremium * coverageMultiplier * ageExperienceFactor * usageFactor;
estimatedPremium = estimatedPremium * (1 – securityDiscount);
// Ensure minimum premium
var minPremium = 200;
if (estimatedPremium < minPremium) {
estimatedPremium = minPremium;
}
// Add a small fixed cost component (e.g., admin fees)
var fixedCost = 50;
estimatedPremium += fixedCost;
// — Input Validation —
if (isNaN(engineCapacity) || isNaN(bikeValue) || isNaN(riderAge) || isNaN(ridingExperience) ||
engineCapacity <= 0 || bikeValue <= 0 || riderAge <= 0 || ridingExperience < 0) {
document.getElementById("insuranceEstimate").innerText = "Please enter valid numbers.";
return;
}
document.getElementById("insuranceEstimate").innerText = "$" + estimatedPremium.toFixed(2);
}