Car Insurance Calculator

How to Use a Car Insurance Calculator Online?

Here are the steps to use the car insurance premium calculator: 

• Enter the make, model, variant, registration date, and city of your vehicle 

• Select your plan after clicking Get Quote 

• Select a Comprehensive Package or Third-Party Liability Only 

• Describe your most recent insurance policy, including the expiration date, any claims you made, and any no-claim bonuses you received 

• The bottom right corner of the loaded page will now display your auto insurance premium 

• You can choose your IDV and further personalize your plan by choosing add-ons like Gear & Engine Protection, Zero Depreciation, and Return to Invoice if you have selected a Standard or Comprehensive Plan 

• Your final car insurance rate will now be displayed on the right side of the screen.

Car Insurance Premium Calculation for Used Cars:

Every car insurance company uses its own set of parameters to calculate the premium for a policy. However, the factors that are considered by most insurers are listed below: The online car insurance calculator tool helps you in procuring the most appropriate auto insurance policy for your vehicle in a transparent and convenient manner. To calculate the premium for used cars, you will have to provide the following details:

• Type of car
• Fuel type
• Details of the existing car insurance policy
• Registration number of the car
• Details regarding change in ownership
• Claims for previous years, if applicable

The used car insurance calculator tool will show you the premium required to insure the vehicle in a matter of seconds.

Car Insurance Premium Calculation for New Cars:

The new car insurance calculator tool provides a listing of top insurers and their car insurance products in a few simple steps. This offers a new car owner the much needed guidance in narrowing down on an appropriate auto insurance policy for his/her prized set of wheels. The details you would have to provide to calculate the premium for insuring a new car are:

• The name of the car manufacturer
• The model of the vehicle
• Year of manufacture
• Personal details of the owner-driver
• State of registration of the vehicle

Premium Rates for Third-Party Car Insurance: 

The premium rates for third-party car insurance are listed in the table below: 

Comprehensive Car Insurance Premium Calculator: 

A comprehensive car insurance policy provides total coverage for your car. It covers everything from your own damages to third-party losses and comes with a variety of add-on covers. You can experiment with different add-ons to see how they affect your car insurance premium using a comprehensive car insurance premium calculator. This online tool will make your decision much easier and clearer. 

How to Reduce Car Insurance Premium?

• You can avoid filing a claim and save money on your car insurance if you can afford to pay for minor damages yourself 

• When you acquire a new car, you can transfer your existing NCB if it is good. You will receive a reduction in the cost of your new car insurance 

• You risk losing the NCB and having to pay a higher premium for your future policy if you renew your policy after the deadline 

• Installing an anti-theft device in your vehicle might result in a decrease in your car insurance price from many insurers 

• Your car's value may rise because of modifications, but your car insurance rate may also rise 

• You can save money by purchasing car insurance online. You can obtain the best bargain by comparing quotes from various insurance providers. 

Factors Affecting Car Insurance Premium:

The premium of car insurance depends on the following factors:

• Car Make and Model: Your insurance premiums are directly impacted by the make and model of your vehicle 

• Age of Your Vehicle: As your car ages, wear and tear reduces its value 

• Your Driving History: Safe drivers receive reduced rates from insurers. You can receive discounts of up to 50% with the No Claim Bonus if you have not submitted any claims in prior years 

• Type of Coverage Selected: The type of coverage you select has a significant impact on the cost of your premium 

• The maximum sum that your insurance provider will pay if your vehicle is stolen or damaged is known as the insured declared value, or IDV. 

Benefits of Car Insurance Premium Calculator:

• The car insurance premium calculator is easy to use and yields results in a few minutes.
• You can use it at the convenience of your home and benefit from a hassle-free and paperless policy purchase experience.
• One of the major advantages of a car insurance calculator tool is that you would not be influenced by insurance agents who, after all, are working towards attaining their sales targets.
• On the calculator tool, you can change the variables of coverage and see how the premium changes accordingly. The tool is a great medium to educate yourself on the nuances of a plan and hence, helps you in making the best decision at the time of buying a policy.

GST Update: GST of 18% is applicable on car insurance effective from the 1st of July, 2017