What is a Car Insurance Premium Calculator?
A car insurance premium calculator is an online instrument meant to assist you in getting the right amount of premium for your car insurance. You can get the customised results with this calculator, simply by entering the details of your car and the status of your No Claim Bonus. By deriving the correct premium amount, you can opt for a premium quote among many available in the market according to your requirement and budget.
How to Use a Car Insurance Premium Calculator?
You can use the car insurance calculator at InsuranceDekho by following the steps given below:
Step 1: Choose the Make, Model, Variant and Fuel Type of your car.
Step 2: Choose the Purchase Year and Registered City of your car.
Step 3: Inform us, if you have made any claim against your car insurance in your last policy term
Step 4: Hit the ‘Calculate’ button after filling all the required details and get the right IDV and premium amount for your car insurance.
Benefits of Car Insurance Premium Calculator
InsuranceDekho’s car insurance premium calculator offers you the following benefits:
1. Right Insured Declared Value – You can obtain the correct Insured Declared Value (IDV) of your car. The amount of IDV is what you are entitled to receive as compensation against your car’s theft and total loss. Holding the right value of IDV for your car is the utmost crucial for you.
2. Correct Premium – This premium calculator informs you about the actual value of premium that you should be paying to have insurance for your car.
3. Guidance to Make Well-Informed Decision – With the right premium amount and IDV of your car insurance policy, generated from our premium calculator, you can make a well-informed decision.
4. Helps You Choose the Right Plan –The information about the right amount of IDV and premium, computed by the premium calculator, assists you in picking the best premium quote for yourself from among the available choices.
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
A range of factors determines the amount of premium for standalone own-damage and comprehensive car insurance policies. The factors comprise the make, model, variant, engine capacity, fuel type, RTO location, etc., of your car. Utilise this Premium Calculator to get to know the right premium amount of your car insurance.
Factors Which Determine Car Insurance Premium
Listed below are some factors that affect the premium of car insurance:
1. Insured Declared Value (IDV): Insured Declared Value is the market value of your car that is calculated on the basis of your car's make, model, and variant. The value of your car depreciates with time which decreases its IDV thereby decreasing the premium for your car insurance policy.
2. Anti-Theft Devices: Having ARAI-approved anti-theft devices installed on your car keeps it secure thereby reducing the chances of it getting stolen. This ultimately reduces the insurer’s liability and hence reduces your car insurance premium too.
3. Engine’s Cubic Capacity: If the cubic capacity of the engine of your car is high, then it will use more consumables as well as move faster thereby increasing the risk on road. Hence, you will be charged a higher premium.
4. Add-On Benefits: Insurance companies offer various add-on benefits like return to invoice cover, and zero depreciation cover that provide extra coverage to your car. You can opt for them by paying a higher premium.
5. Modifications: You can modify your car to increase its performance or the aesthetic look. But you must be aware that modifications may lead to a higher car insurance premium as it compromises with the in-built safety features of your car which increases the chances of theft or accident.
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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 cover such as Insured Declared Value (IDV), Anti-Theft Devices, Engine’s Cubic Capacity, Add-On Covers, No Claim Bonus (NCB), Modifications, Age of the Owner, and so on.
Does the premium calculator compute the premium only for old car?
Yes, the premium calculator helps you get the premium for new as well as old or used cars.
Why should I use the car insurance premium calculator?
The car insurance premium calculator gives you great assistance in getting the values of IDV of your car and the premium amount offered by different insurers in the market. It will help you select an affordable policy and make wiser decisions in relation to the car insurance cover.
What details are need to be filled in the premium calculator?
You need to enter a few details like make and model of your car, RTO location of your car, registration year of your car, etc., to find the right premium provided by various insurers for a car insurance policy.
Where can I find the premium calculator to use it?
You can get the best premium calculator to calculate the premium and IDV for your insurance plan 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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