Royal Sundaram car Insurance premium calculator is a free online instrument that calculates
the correct insurance premium amount for your car policy. The premium amount is calculated using details of your car as well as pre-discussed details of your preferred car insurance policy.
Royal Sundaram car insurance premium calculator is extremely helpful as it helps you choose the most appropriate car insurance policy by comparing several plans in India.
The premium amount is calculated using a variety of factors including the year of manufacture, make and the variant of the car, type of fuel used, engine capacity, and the status of the no claim bonus status. The type of car insurance policy purchased also carries different premium costs. A comprehensive car insurance policy carries a higher insurance premium whereas third-party car insurance will carry a comparatively lower premium to be paid.
Alongside this, Royal Sundaram Car Insurance Company offers you to opt for enhanced coverage with the car insurance policy with add-on covers that affect the premium amount as well. Some examples include Zero Depreciation Cover, Roadside Assistance Cover, and Engine Protection Cover.
Hence, Royal Sundaram car insurance premium calculator combines all these factors to calculate the correct premium you would have to pay for your car insurance so that you can find the most appropriate policy for your requirements.
Royal Sundaram car insurance premium calculator assesses the amount based on the following formula:
(Own Damage Premium – No Claim Bonus) + Liability Premium
1. Insured Declared Value (IDV) of the vehicle: TheInsured Declared Value is the current market value of the insured vehicle and the amount which the policyholder would be eligible to claim in the case of theft or total damage to their vehicle. The higher the Insured Declared Value, the higher would the insurance premium be.
2. The engine of the car: The car’s engine not only determines the amount of power the car produces but also how expensive is the car to maintain. The higher the capacity of the engine, the higher the premium will be.
3. Year of manufacture of the vehicle: The value of a car depreciates with time; hence older vehicles would attract a relatively cheaper premium amount as compared to newly bought cars.
4. City of registration of the vehicle: The premium amount would be higher for vehicles registered in RTOs located in Tier 1 cities as compared to those registered in Tier 2 and Tier 3 cities.
5. Brand, make, and model of the vehicle: The manufacture’s details including the model type of the car also affect the cost of the premium. A luxury car will cost a higher insurance premium as compared to a daily use vehicle with a lower safety rating.
6. Anti-theft features installed: A car that has anti-theft devices installed for enhanced safety mitigates the risk of the car being stolen, hence attracting a lesser premium amount.
7. Add-on covers:These add-ons are offered in order to provide enhanced coverage for your vehicle. However, these covers not only improve the protection provided by your car insurance policy but also increase the premium amount to be paid.
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Calculating the amount of premium for renewing your existing car insurance policy is similar to the steps discussed above. All you need to do is visit the official website of Royal Sundaram General Insurance Company and fill in all the policyholder details including details of insurance claims in the previous policy period if any.
The premium for a third-party car insurance policy is calculated on the basis of the cubic capacity (CC) of the engine. The premium rates are predefined by the Insurance Regulatory and Development Authority of India (IRDAI) and are standard across all car insurance companies, as they are only determined by the CC of the engine irrespective of the car’s age.
Yes, the calculator will work for all legal cars irrespective of their age. All you need to do is enter the requested details of the vehicle such as its make, model, variant, fuel type, etc. and the premium amount would be calculated.
Yes, it is possible to shift or port your NCB from the previous to the current insurer.
22 Feb 2024In layman's terms, the IDV full form is the Insured Declared Value
31 Jan 2024Investing in a full-coverage car insurance policy is essential for
29 Jan 2024No Claim Bonus (NCB) is a reward given by an insurer to a
17 Jan 2024Buying their first car is no less than a milestone unlocked for
12 Dec 2023The type of four-wheeler you purchase also impacts its insurance
#Rs 2094/- per annum is the price for third-party motor insurance for private cars (non-commercial) of not more than 1000cc
*Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB. Actual time for transaction may vary subject to additional data requirements and operational processes.