What is Car Insurance Premium Calculator?
A car insurance calculator is a digital tool that helps you to know the right amount which you should pay as the insurance premium of your car. The insurance premium calculator calculates the premium amount on the basis of your car details and your No Claim Bonus status. By knowing the right premium amount using the calculator you can choose the premium quote from the available premium quotes which suits you the best.
How to Use Car Insurance Premium Calculator?
Step 1: Choose your Car’s Make, Model, Variant and Fuel Type.
Step 2: Choose Car’s Registered City and the Year of Purchase.
Step 3: Let us know if you had any insurance claim against your car in the previous policy period.
Step 4: Click on ‘Calculate’ and the correct IDV and car insurance premium will be displayed to you.
Benefits of Car Insurance Premium Calculator
1. Right Insured Declared Value - The premium calculator helps you know the right Insured Declared Value of your car. IDV is the amount which you get as compensation in case of theft and total loss of your car.
2. Correct Premium - The premium calculator tells you the correct premium amount for your car insurance plan.
3. Helps you Make an Informed Decision - By telling you the right IDV and premium amount the premium calculator helps you make an informed decision.
4. Helps You Choose the Right Plan - The knowledge of the right premium amount and IDV provided helps you compare different plans and choose the insurance plan which suits your requirements in the best manner
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 amount for standalone own-damage and comprehensive car insurance plans depends on a variety of factors like the make, model, variant, fuel type of your car, its RTO location, etc. Use our Premium Calculator to know the insurance premium for your car instantly.
Factors Which Determine Car Insurance Premium
1. Anti-Theft Devices – The anti-theft devices ensure the safety of your car, which minimize the risk of offering compensation to the insurance company. Hence, insurance providers charge a lesser amount of premium from the cars equipped with anti-theft devices.
2. Insured Declared Value (IDV) – The Insured Declared Value of car denotes its current value. It is also the amount that an insurance company has to provide to its policyholder in the event of theft or total loss. So, higher the IDV will be, higher will be the premium cost.
3. Year of Registration – The year of registration reveals the age of a car. It is a common fact that with every passing year increased depreciation applies on the car that reduces its value. It means insurers have to offer lower compensation for an old car. Therefore, older cars are charged with a lower amount of premium than from the newer cars.
4. No Claim Bonus (NCB) – The NCB is a discount on the premium amount, offered by the insurance company to its policyholders for not requesting any claim in the last policy term. The provided discount increases every claim free year and ranges between 20% to 50%. It means higher NCB will bring down the premium amount of the car.
5. Add-On Options – The add-on options under the car insurance plans offer additional protection to the cars, which can only be availed by paying an extra amount. Thus, the more the add-on covers will be included in the policy, the higher will be the cost of premium.
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Tata AIG Car Insurance Premium Calculator FAQs
What factors determine the amount of premium of a car insurance policy?
There are numerous factors which impact the amount of premium of a car insurance policy such as Add-on Options, Insured Declared Value (IDV), Anti-theft Devices, No Claim Bonus (NCB), Year of Registration, etc.
How do car insurance premium calculators benefit me?
The car insurance premium calculator will help you get an accurate premium amount for car insurance plans and IDV of your car offered by different insurers in the market, which will enable you to choose an economical policy and make prudent decisions about car insurance.
What type of details are needed to be entered in the car insurance premium calculator?
You need to enter details such as make, model and variant of the car, fuel type of the car, RTO location of the car, engine capacity of the car, registration year of the car, etc., on the premium calculator to get the premium amounts provided by different insurance providers.
Can I use the premium calculator to compute premium for my old car?
Yes, the premium calculator can be used to get the premium for new as well as old cars.
Where can I find the best premium calculator to calculate the premium for my plan?
You can get the best premium calculator to get the premium and IDV for your policy at the 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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