What is a Car Insurance Premium Calculator?
A car insurance premium calculator can be understood as a digital or online method developed to assist you in attaining the actual premium amount. It requires you to fill up the basic details of your car such as your car’s make, car’s model, year of registration, RTO location, etc to get the correct insurance premium for your car. Entering all these details will make the insurance calculator generate a premium for you.
How to Use a Car Insurance Premium Calculator?
Step 1: Choose the Make, Model, Variant and Fuel Type of your car.
Step 2: Choose the Registered City and the Year of Purchase of your car
Step 3: Declare if you have made any car insurance claim against your car in the last policy term.
Step 4: Hit the ‘Calculate’ button to get the right IDV and premium amount for your car insurance.
Benefits of Car Insurance Premium Calculator
1. Right IDV – The calculator allows you to get the right IDV, which suits the make, model and age of your car. By acquiring the Right IDV, you can get the actual market value of your car in case of theft or any loss.
2. Correct Premium – No doubt, this is the basic reason for using this calculator. It helps in making available a lot of car insurance premium quotes to choose from. This will assist you in getting the best plans at the best prices.
3. Assist in Making an Informed Decision – With this calculator, you can easily make prudent decisions to safeguard your car. Besides, it assists you in understanding the factors involved in the computation of the amount of your car insurance premium.
4. Gives an Economical Approach – This premium calculator gives you the correct premium for your car which helps you compare available premium quotes and select the best deal as per your budget and requirement.
Third Party Car Insurance Premium Rates
Premium To Buy A New Policy (3-Year Plan)
Premium To Renew Existing Policy (1-Year Plan)
Under 1,000 cc
Between 1,000 cc and 1,500 cc
Above 1,500 cc
Premium for Comprehensive and Standalone Own-Damage Car Insurance Plans
The premium for standalone own-damage and comprehensive car insurance plans depends on various factors such as make, model, and variant of the car, fuel type of the car, registration location of the car, and so on. Calculate your premium by entering the details of your car with the help of our premium calculator.
Factors Which Determine Car Insurance Premium
Given below are some factors that affect the premium for car insurance:
- Insured Declared Value (IDV): IDV is the maximum amount that you can claim from an insurer in case your car gets damaged or stolen. IDV is decided by the insurer considering your car’s make, model, and variant. Higher the IDV of your car, higher premium you will be required to pay to get it insured.
- Engine’s Cubic Capacity: Your car will require more consumables if its cubic capacity is higher. So, you will be required to pay a higher premium if you own a car with a higher cubic capacity and you want to get it insured, and vice versa.
- Number of Add-Ons: Add-ons are additional coverage benefits that you can purchase with your car insurance policy. You can buy add-on benefits like zero depreciation, roadside assistance cover, etc by paying some extra premium and enhancing the coverage for your car.
- Anti-Theft Devices: Installing anti-theft devices reduced the chances of your car getting stolen which further reduced the liability on the insurer. So, if you have ARAI-approved anti-theft devices installed in your car, then you will be required to pay a lesser premium.
- No Claim Bonus (NCB): Another factor that affects your car insurance premium is No Claim Bonus. Insurers offer a discount on car insurance premium to the policyholders as a reward for no claim made during a policy term. Usually, the No Claim Bonus ranges between 20%-50%.
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- IDV is short for the ‘Insured Declared Value’, is the current market value of your car. It is your responsibility to calculate IDV correctly
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What factors determine the premium of a car insurance policy?
There are various factors that affect the premium of a car insurance policy such as Engine’s Cubic Capacity, Insured Declared Value (IDV), No Claim Bonus (NCB), Anti-Theft Devices, the City of Registration, Number of Add-Ons, Age of the Owner, and so on.
Why should I use a car insurance premium calculator?
The car insurance premium calculator will help you find the accurate premium for your car insurance policy, get the correct IDV of your car, and pick an affordable car insurance plan with right decisions about the car insurance plan.
What details should I enter in the car insurance premium calculator?
You will be required to enter details like make of the car, the model of the car, RTO location of the car, registration year of the car, etc., to find the right premium offered by the insurers for a car insurance plan.
Can I use the premium calculator to calculate the premium for my old car?
Yes, the premium calculator will assist you in finding the premium offered by different insurance providers for new as well as old or used cars.
Where can I find the car insurance premium calculator?
You can find the best car insurance premium calculator to compute the premium and IDV at the official website of InsuranceDekho, i.e., www.insurancedekho.com.
Why to buy from InsuranceDekho?
- Instant policy # within 5 mins
- More than 11.5 Lac happy customers
- Claim Support available all 7 days of the week
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