What Is the Cubic Capacity of Your Bike?

Posted on: Apr 26, 2023 | | Written by:

What Is the Cubic Capacity of Your Bike?

Published on April 26, 2023. EST READ TIME: 4 minutes

There are several factors that influence the premium rate you pay for your two-wheeler insurance plan. The vehicle cubic capacity, also known as the engine capacity, is a deciding factor when fixing your bike insurance premium. What exactly is cubic capacity, and why is it so important? Let us learn about it in the article below.

What exactly is understood by a bike’s cubic capacity?

The cubic capacity of a bike, popularly known as the cc, refers to the size of the engine. A larger and more powerful bike has a higher cc as compared to a smaller two-wheeler like a scooter. Bikes with a higher cubic capacity have larger cylinders that thrust more power into the engine and make the bike strong and robust. This leads to higher fuel consumption as the engine works harder to keep up with the power.

The impact of a bike's cubic capacity on the two-wheeler policy premium

The cubic capacity plays a major role when it comes to deciding the comprehensive two wheeler insurance premium rate. This is chiefly because:

1. The cc determines the size.

This is a very obvious fact, but the cubic capacity of a bike determines its size. Usually, the larger two-wheelers are fitted with engines with a high cc. The insurance premium is fixed after assessing the make and model of the bike, so a vehicle that is large and advanced will understandably have a higher premium.

2. It affects the risk factor.

The basic job of any comprehensive or thirdparty twowheeler insurance is to offer protection to the vehicles. The insurance provider undertakes a risk by insuring a vehicle, and the bike insurance premium is levied to cover this risk. A vehicle that is large and fancy is heavier, more difficult to handle, and requires a lot of skill to ride. This automatically increases the risk factor. There are greater chances of an accident where both the policyholder as well as the vehicle can be injured. Hence, the insurer charges a higher premium when covering the bikes that have a higher cubic capacity.

3. It affects the price.

A large bike with a high cubic capacity is more expensive. This is another factor that affects the vehicle’s premium. You will have to pay more premium when you have a more expensive bike. If the bike gets stolen or damaged beyond repair, the insurance provider will have to reimburse you for it. This is a big risk, and so the premium of a two-wheeler is directly proportional to its cost.

As you can see, these are some logical reasons that tell us why the cc is so important when it comes to determining the bike insurance premium.

Other elements affect the insurance premium for bikes with a higher cubic capacity.

1. Make and model

As mentioned above, the make and model number of a bike affects its insurance coverage. A small scooter manufactured in India is less expensive and fancy than an imported sports bike. As a result, Your bike insurance premium has a direct relation to the make and model number. Also, the age of the bike plays a role here. Older bikes lose their value because of the depreciation factor. Newer bikes are placed at a higher value, and this again affects the premium of the two-wheeler insurance plan.

2. Geographic location

Vehicles purchased and used in a large metropolitan city have a higher premium than the ones used in smaller cities and towns. This is because the city roads are more congested, and riding a vehicle in such places is more challenging. Accidents take place frequently, and due to unfavourable riding conditions (excessive traffic, potholes, etc.), the bike gets damaged faster. Hence, if you live in a Tier 1 city in India, you will end up paying more for bike insurance coverage.

3. Riders

There are some add-on covers available in bike insurance. These provide extra coverage but are available at an added cost. Hence, you need to be very careful when choosing your riders and only choose the ones that are of the greatest use to you. If you have too many riders, your bike insurance premium will be very high. So make it a point to only choose the ones you need the most. The riders can only be bought when you have comprehensive two-wheeler insurance.

4. Safety gadgets

Safety gadgets enhance the security of your vehicle. For example, an anti-theft alarm can significantly lower the chances of your two-wheeler getting stolen. The motor insurance provider understands this and offers the bike insurance plan at a lower rate to those who have installed safety gadgets in the vehicle. As a result, these gadgets play a role in the determination of the premium rate.

5. Rewards and discounts

Most motor insurance companies in India offer a discount on the bike insurance premium if you are a member of a registered automobile association. With the help of such a discount, your premium can be lowered. Also, if you have some accumulated rewards, such as the no-claim bonus, you can make some additional savings.

6. Mode of Buying

Bike insurance plans are available online and offline. It is very trendy to buy bike insurance online these days. The online plans are well-designed and affordable too. In fact, the online plans are much cheaper than the offline plans as you don't have to pay brokerage and also are charged a lower administrative and processing fee. Therefore, the mode of buying the two-wheeler insurance policy also has an impact on the cost of the insurance coverage.

7. Type of plan

Finally, the type of plan you choose has a heavy impact on the premium. A basic third party two wheeler insurance cover is inexpensive. The plan only offers coverage against third-party liabilities. You don't get any coverage for your own vehicle. So if you have a high cc vehicle and require protection, you will have to go for a comprehensive insurance policy, which will be more expensive. You will, of course, get a lot of extra coverage. If you choose to add some riders, the price will go up further. So, the bike insurance plans you choose has an impact on the premium you pay.

Conclusion

As you can clearly see from the points mentioned above, cubic capacity has a very significant role to play in comprehensive two-wheeler insurance. The premium of a policy is largely determined by taking the cc into account. If you have a bike with a high cc, make sure you get the best possible bike insurance plan, as that will help you to keep your precious vehicle safe and secure at all times.

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.

IRDAI Increases Third Party Two Wheeler Insurance Premiums

Would you believe if we say that bike modification affects your bike insurance premium?

9 Tips to Reduce Your Two Wheeler Insurance Premium

Factors Affecting Two Wheeler Insurance Premium

How to use Bike Insurance Premium Calculator