Use Car Insurance Calculator and Buy Intelligently

Car Insurance Calculator: Compare Car Insurance Quotes and Save upto 55%. With Car Insurance Calculator, compare plans from top insurers for your new or used car. Get Instant online Policy as per your budget and needs.

  • Use Car Insurance Calculator Online and Save Money
  • Compare Plans from Top Insurers
  • Select Best Car Insurance

A car insurance calculator enables a person to compute the premium of a car as well as compare insurance quotes from different insurers. Different sets of customers have their own specific requirements and car insurance calculator helps them to evaluate and get the best policy as per their requirements.

Undeniably, car insurance calculator is a valuable tool that helps a buyer to get the best car insurance plan on the basis of his specifications. It allows you to make a comparison of different insurance plans on a click of the mouse. Simply put, car insurance calculator helps buyers to evaluate their insurance needs and get an appropriate plan accordingly.

Benefits of Car Insurance Calculator

      • Using a car insurance calculator prior to buying a plan makes the overall process easy and convenient for the buyer
      • Make a comparison of premium rates and choose the best insurance plan
      • See for yourself how changing variables of coverage change your premium
      • No need to take your decision in haste or under influence of the agents

How to Use Car Insurance Premium Calculator?

It is an online feature that allows customers to calculate the premium amount for the vehicle on the basis of the information provided by them.

Car insurance calculator provides customers with lots of variation in terms of premium rates as per their requirements. For calculating the exact car insurance premium, a customer needs to mention the specific details that include date of registration, car details, policy start date and other extra coverage details. It is just a matter of a few clicks through your mouse and you’ll get what you want. Moreover, to find a good car policy, comparing two different insurance policies can be the right tool. By comparing premium rates of different insurance companies, one can easily find out the most beneficial insurance. Essentially, the more extensive the coverage, the higher your car insurance premium rates will be.

To calculate car insurance premium rates, every insurance company uses its own method.

      • Premium Calculator for Used Cars= To calculate premium quotes for used cars, you need to give details, like car type, fuel type, registration number, existing car insurance policy details, change in car ownership details, if any and previous year claim reports. Premium calculator for used car allows buyers to get the best deal as per the requirements.
      • Premium Calculator for New Car= For calculating the premium value, you would need to fill details about the vehicle including vehicle manufacturer’s name, vehicle model, year of manufacture, state of registration of Car, etc., with person’s own details. Premium calculator for new car offers you the best deal by comparing all sets of facilities offered by different companies. It is a quick solution to the concerns of the customers.

Factor that Determine Car Insurance Premium Value

Top Variables that play an indispensable role in deciding car insurance premium rate are:

      • Age and Gender – Individual below 25 years of age are perceived by the insurance company to be more likely involved in accidents and hence individuals in the age bracket of 18 – 25 have to shell out a higher premium.
      • Car Make, Model and Variant – For obvious reasons, high end cars like Audi and Bentley are insured at a higher price than budget car like Alto and Santro. On similar grounds, SUVs are insured at a higher premium than a family car.
      • Place for which you Need the Insurance - Since the traffic density is higher in the urban areas, cars are insured at a slightly higher premium in the urban areas compared to the sub urban areas.
      • Fuel Type – Compared to a plain petrol/diesel car, you’ll have to pay a higher premium for insuring a CNG fitted car.
      • Year of Manufacture - The older your car, the lesser is its Insured Declared Value (IDV) and the lesser the IDV, the lesser is the premium.
      • Discounts – Certain professionals such as defense personnel, doctors and govt. employees are entitled to get an additional discount on their premium.
      • Voluntary Access - Voluntary access is the minimum amount that you declare to bear at the time of claim. The higher deductible you opt for, the lower will be your premium.
      • Anti-theft Discount – You are entitled to get 2.5% off on the premium, if your car is fitted with an ARAI approved anti theft device.
      • No Claim Bonus – No Claim Bonus is offered to the insured for every claim free year. It is a cumulative discount and varies from 10% to 50%. NCB can be transferred to another car or policy.

Car Insurance Premium Renewal

Customers who have already brought an insurance policy for their cars need to renew the policy at regular intervals to get all benefits. Each of the policy is designed with predetermined expiry dates, after crossing that particular date; customers need to get renewal for the insurance policy. One can easily renew the policy online.

Many buyers make premium rates the sole criteria of choosing a car insurance policy. However, this is not a right move. There are other features and benefits in a plan to look out for. If you are getting a better coverage at a slightly higher premium rate, you should prefer it over a lower coverage plan.

What is a car insurance premium calculator?

Ans:

A car insurance premium calculator is an online tool that helps insurance buyers to obtain a quote from various car insurance companies along with the premium that they have to pay.

I want to obtain an insurance quote for my car, where can I find car insurance premium calculator?

Ans:

You can easily find a car insurance premium calculator here or on the official website of your preferred insurer. All you need is filling in some basic insurance information like your name, mobile number, address, vehicle model number, vehicle manufacture’s name, manufacturing year, fuel type, registration details etc.

After filling up the correct details, click on the “generate premium” button and you will get your quote.

How is the premium for car insurance calculated?

Ans:

The calculated premium is the direct result of a basic formula. The formula would give you a better understanding of how exactly the car insurance premium is calculated.

Premium = Own Damage Premium – (No claim bonus + discounts) + Liability Premium that is fixed by the Insurance Regulatory and Development Authority (IRDA) of India

Here is an example of car insurance calculation so that there is no room for any confusion.

Manufacturing Year

2012

Comprehensive Policy with No Claim Bonus  

Ex Showroom Rate

Rs. 4,16,000

 

Depreciation

20%

Rs. 83,200

Insured Declared Value

Rs. 3,32,800

 

Own Damage Premium

1.970%

Rs. 6556

No Claim Bonus  Discounts

20%

Rs. 1311

Total Own Damage Premium

Rs. 5,425

 

Personal Accident Cover

Rs. 100

 

Legal Liability Paid to the driver

Rs. 50

 

Compulsory Third-Party Cover

Rs. 1110

 

Net Premium

Rs. 6505

 

Service Tax

14%

Rs. 911

Total premium

Rs. 7416

 

What are the factors that affect the car insurance premium?

Ans:

Factors like Insured Declared Value of the car, age, and type of the automobile, engine’s cubic capacity, geographical location etc. dominate the calculation of the premium of your car insurance.

What are the tips to reduce car insurance premium?

Ans:

There are so many ways that can help you to reduce your car insurance premium. You can do so by becoming a member of the Automobile Association of India, by installing anti-theft equipment in your car, etc.

Before your car insurance policy is issued, make sure the IDV of your car is computed correctly. It would not only assure that you’re paying the right premium but also would guarantee a convenient claim free procedure also.

Buy your automobile carefully on the basis of your needs. Don’t purchase an SUV in case you don’t commute less than 50 kilometers per month. Keep in mind that the showroom cost and the Cubic Capacity of your vehicle add on to your premium amount.

Don’t opt for any add-on cover that isn’t required. The reason behind that is it will enhance your premium.

What are the benefits of using a car insurance calculator?

Ans:

The following are the benefits of using a car insurance premium:

1. It makes the insurance buying process convenient and easy for the insurance buyers.

2. It helps to draw a comparison of the premium rates and select the best insurance policy that meets your insurance needs.

3. It gives a firsthand experience on how changing coverage variables can drastically change your premium.

4. You don’t have to take your decisions in a hurry or being manipulated by the insurance agents.

Can I use car insurance premium calculator at the time of insurance renewal?

Ans:

If you used car insurance renewal premium calculator at the time of buying insurance, you’re well aware of the ease of using the calculator tool. If you haven’t, you can use car insurance renewal premium calculator online and get the premium details at time of renewal of your insurance policy. It’s easy, convenient, and simple.  

What is the importance of car insurance renewal premium calculator?

Ans:

It is a significant tool to determine the car insurance premium in a convenient manner. Potential insurance buyers can get insurance quotes in a matter of a few clicks and they can pick the plan that fits their budget and fulfills their insurance needs.

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