Cracking the code: Understanding cc and its role in bike insurance

The Motor Vehicle Act, of 1988 makes it mandatory for every motorised vehicle to have the coverage of a minimum of third-party liability insurance. But your comprehensive Zurich Kotak Bike insurance does more than just fulfill the legal mandate. it offers you and your beloved bike all-around protection and coverage. But have you ever wondered what determines the insurance premium? Do you know about the cubic capacity impact on insurance and its premium?

Understanding your bike insurance policy can be helpful to you in making the most of it. Read on to understand the relationship between bike engine cc and insurance. This will also help you in choosing bike insurance based on cc correctly.

Cubic capacity and its role in bike insurance

CC or bike cubic capacity refers to the engine's ability to generate power. It quantifies the engine's chamber volume. The higher the cc, the more the bike’s power. You can find a range of bikes in each cc category. For instance, scooters and scooters generally range between 50 to 150cc, whereas cruiser and sports bikes can easily go above 250cc. Needless to say, the more the power, the more the price.

The cc, or the power of the engine, is, thus, one of the main components when it comes to bike insurance. The Insurance Regulatory and Development Authority of India, IRDAI, is the apex body that determines the third-party liability bike insurance premium. Unlike comprehensive bike insurance, where the cost of coverage varies from company to company, the rate for third-party liability insurance premiums is fixed.

The IRDAI has set the premium as follows for the financial year 2022-2023:

Take a look at the third-party bike insurance policy premium for electric vehicles:

Conclusion

The tables given above will help you understand the connection between bike insurance policy and engine size. As a bike owner, you have the freedom to choose between comprehensive and third-party liability insurance. However, if you are a regular commuter or have recently purchased a new bike, it is recommended that you invest in all-around protection for your bike through Zurich Kotak Bike insurance.

Reference: https://economictimes.indiatimes.com/wealth/insure/motor-insurance/latest-third-party-insurance-premium-for-cars-bikes-as-fixed-by-irdai/articleshow/95620350.cms

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