What is the Oriental Car Insurance Premium Calculator?
Oriental Car Insurance Company offers an easy way to calculate your car insurance premium amount hassle-free. You can calculate the car insurance premium amount on the basis of several details for the insurance plan you want to purchase.
Oriental car insurance premium calculator helps you calculate the premium amount so that you can get covered with the right car insurance plan that fits your budget as well.
How does the Oriental Car Insurance Premium Calculator Work?
The Oriental premium calculator takes several factors in consideration to calculate the right premium amount of your car insurance plan. It requires the details such as manufacturing year, make & model of the car, NCB status, fuel type, engine capacity, etc. It also depends on the type of insurance plan you chose to purchase whether a third-party or a comprehensive. If you purchase comprehensive insurance then the premium would be higher than that of a third-party plan.
You can also customize your car insurance plan. If you are not satisfied with the specified coverage of the plan you are planning to purchase then you can add different riders to enhance your coverage. There are many options available such as engine protection, zero depreciation, roadside assistance covers, etc. however, these add-ons come with an extra cost that will be added to your premium amount.
The Oriental premium calculator takes all these things under consideration before calculating the premium amount of your car insurance online that you will have to pay to get insured.
Oriental car insurance premium calculator uses the following formula:
(Own Damage Premium – No Claim Bonus) + Liability Premium
How to use the Oriental Car Insurance Premium Calculator?
- Step 1: To calculate the premium, visit the Oriental General Insurance Company Website and go to the page of the premium calculator.
- Step 2: Fill in personal details such as your name, contact details like number and email ID as well as your address.
- Step 3:Chose your car’s make & model, enter manufacturing year, RTO’s location where your car got registered
- Step 4: Chose a plan that you want to purchase
- Step 5: Click on the “Calculate” button and then it will calculate and show you the estimated premium amount of your insurance plan.
Benefits of Oriental Car Insurance Premium Calculator
- IDV Calculation: The online premium calculator provides you the insured declared value. IDV is the amount you get as coverage when you raise a claim for total loss or theft.
- Cost-effective Plan can be determined: With Oriental premium calculator, you get an estimated premium amount detail that makes helps you make a cost-effective and worthy choice.
- Seamless process: You do not have to rely on a third person such as insurance agents sent by the insurance company to make a choice while purchasing the right car insurance plan for yourself. You can do it sitting at the comfort of your home on your laptop by visiting the Oriental General Insurance Company official website, chose a plan and calculate an estimated premium on your own.
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Factors Affecting Car Insurance Premium
1. Manufacturing Year: Manufacturing year is an important factor while calculating the premium amount because if you have recently purchased a car then the insurance premium amount would be higher than that of insurance for an old car.
2. Insured Declared Value: The insured declared value is the current price of your car in the market as well as the compensation amount that you receive from the insurance company when you raise a claim in case of a total loss or theft. This means if you opt for a higher IDV then the premium amount would be higher as well.
3. Brand, make and model of the vehicle: If you own a luxury car that cost higher than a budget car then the premium amount relatively be higher than the car insurance policy of a budget car.
4. The engine of the car: The more powerful is the engine displacement of your car the costlier would be its maintenance cost and the higher car insurance premium.
5. City of registration: You might be surprised but the city you live in also determines the premium amount of your car insurance. If you live in Tier 1 city then the premium amount would be higher than that of car insurance purchase in Tier 2 or 3 cities.
6. Add-on cover/Riders:If you are not satisfied with the specified coverage of a car insurance plan then add-ons come in handy to fulfil that missing requirement of yours but these add-ons come with an amount that would be added to your premium amount.
7. Anti-theft device: Purchasing a car with an anti-theft device or install one would be beneficial for you because it will reduce the premium amount of the car insurance that you purchase.
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Q1: Do I have to install an anti-theft device in my car that is recognized by the insurance company or I can install any as per my convenience?
Ans: You have to purchase and install the anti-theft device that is recognized by the insurance company otherwise they will not consider any other device that is not recognized by them.
Ans: Insruance premium calculator takes the manufacturing year, make and model, RTO’s location, you city into consideration before calculating the insurance premium.
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Note: This is your car’s recommended IDV as per IRDAI’s depreciation guidelines.asdfsad However, insurance companies allow you to modify this IDV within a certain range (this range varies from insurer to insurer). Higher the IDV, higher the premium you pay.