Finite element simulations were carried out using ANSYS for the mechanical characterization of multi-layer elastomeric isolation bearings where the reinforcement elements were fiber reinforced plastic instead of conventional steel plates. Fiber reinforced elastomeric isolation bearings are low cost alternative to the conventional steel-reinforced bearings. Some experiments were conducted in the past to assess their effectiveness. Validating the results by numerical modeling would allow analysis of bearings when it would not be possible to do so experimentally. The development of lightweight, low-cost isolator is crucial if this method of seismic protection is to be applied to a wide range of buildings such as residential, school and hospital buildings etc. in rural and urban earthquake-prone zones. Thus, circular and a rectangular isolator models were attempted for the analysis. Horizontal displacements were applied at different strain levels and the horizontal stiffness and damping ratios were calculated. Further, comparisons were made between bonded and un-bonded FRP isolators and their performance when subjected to loading in different directions.