Price List of Car Insurance In India
When purchasing or renewing car insurance, there are a variety of plans & insurers available. However, to choose the right policy, there are certain factors you should keep in mind.
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Latest Car Insurance Premium Price List by IRDAI (2025)
The IRDAI decides the third party car insurance premium rates based on a vehicle's engine capacity or electric motor capacity. Whereas, the own-damage (OD) car insurance premium rates are fixed by insurance companies. Here is the table mentioning 3rd party insurance premiums for private cars for both 1-year & 3-year policies:
| Type of Vehicle |
Engine/Battery Capacity |
1-Year Premium Price |
3-Year Premium Price |
| Private Cars |
<1000 cc |
Rs. 2,094 |
Rs. 6,521 |
| 1000 cc-1500 cc |
Rs. 3,416 |
Rs. 10,640 |
| >1500 cc |
Rs. 7,897 |
Rs. 24,596 |
| Electric Cars |
<30 kWh |
Rs. 1,780 |
Rs. 5,543 |
| 30-65 kWh |
Rs. 2,904 |
Rs. 9,044 |
| >65 kWh |
Rs. 6,712 |
Rs. 20,907 |
Note: Third-party car insurance premium rates, which are decided by IRDAI, are subject to change. For the most recent premium prices, refer to IRDAI's official website.
Car Insurance Price List for Own Damage Policy
Unlike third party insurance premiums, the rates for own damage car insurance policies are decided by insurance companies and thus they differentiate from insurer to insurer.
The own-damage premium rates are calculated on the basis of Insured Declared Value (IDV), Zone of vehicle operation, and the cubic capacity of the vehicle.
Here is the price list for own damage insurance plans, which vary by Geographical Zones (area of vehicle registration). Have a look:
Zone A (Ahmedabad, Bangalore, Chennai, Hyderabad , Kolkata, Mumbai, New Delhi and Pune)
| Age of Car |
Not Exceeding 1000cc |
Exceeding 1000cc and Not Exceeding 1500cc |
Exceeding 1500cc |
| Not Exceeding 5 Years |
3.127% on IDV |
3.283% on IDV |
3.440% on IDV |
| Exceeding 5 Years but not Exceeding 10 Years |
3.283% on IDV |
3.447% on IDV |
3.612% on IDV |
| Exceeding 10 Years |
3.362% on IDV |
3.529% on IDV |
3.698% on IDV |
Zone B (Rest of India)
| Age of Car |
Not Exceeding 1000cc |
Exceeding 1000cc and Not Exceeding 1500cc |
Exceeding 150 |
| Not Exceeding 5 Years |
3.039% on IDV |
3.191% on IDV |
3.343% on IDV |
| Exceeding 5 Years but not Exceeding 10 Years |
3.191% on IDV |
3.351% on IDV |
3.510% on IDV |
| Exceeding 10 Years |
3.267% on IDV |
3.430% on IDV |
3.594% on IDV |
Car Insurance Premium Calculation
To know how insurers calculate car insurance premiums, here's the simple formula:
Comprehensive Car Insurance Premium = Own Damage Premium - (No-Claim Bonus + discounts) + Third Party Liability Premium
Have a look at the following example to understand car insurance premium calculation for a brand new TATA Curvv (base model, petrol variant):
| Factors |
Premium Price |
| Ex Showroom Rate (pan India) |
Rs. 10,00,000 |
| Insured Declared Value |
Rs. 9,50,000 |
| 1-Year Own Damage Premium- A |
Rs. 31,204 |
| 3-Year Third Party Premium- B |
Rs. 10,640 |
| Other Discounts |
Rs. 28,382 |
| Bundled Policy Premium: C (A+B) |
Rs. 13,462 |
| GST (18%) |
Rs. 2,423 |
| Total Premium for 3 Years |
Rs. 15,885 |
*Disclaimer: The above data is for a Bundled Policy (1-Year OD + 3-Year TP) as of 30-06-2025 for a brand new Tata Curvv Smart registered under DL1 RTO.
Factors Affecting Car Insurance Price List
Have a look at some important factors that affect car insurance premium rates:
- IDV of the vehicle
- Type and Age of the vehicle
- Geographical zone
- Age and gender of the owner-driver
- Cubic capacity of the engine
- Fuel type
- The profession of the owner
- Voluntary deductible
- No Claim Bonus (NCB)
- Anti-theft device installation
Popular Car Insurance Add-Ons & Their Estimated Prices
Here are some of the essential add-ons in car insurance, along with their estimated prices, which vary by insurance companies. Have a look-
| Car Insurance Add-On |
Prices (Indicative) |
| Zero Depreciation Cover |
Rs. 1,000 - 3,500 |
| Engine Protection Cover |
Rs. 500 - 1,200 |
| Roadside Assistance Cover |
Rs. 150 - 500 |
| NCB Protector Cover |
Rs. 400 - 800 |
*Disclaimer: The prices mentioned above are indicative and vary by insurers. Always refer to the insurer's official website for the actual car insurance add-on costs for your vehicle.
How to Reduce Car Insurance Premium?
To save on your car insurance premium, follow these helpful tips:
- Compare car insurance online from different insurance companies.
- Select the right IDV for your car; the higher this value, the more premium you pay.
- Avoid making claims for minor damages so you can get NCB discounts.
- Wisely choose voluntary deductibles.
- Install ARAI-certified anti-theft devices.
Can a Cheaper Car Insurance Plan Be the Best?
It's never necessary that a cheaper car insurance policy would be the best coverage for your car. So, when purchasing your four-wheeler policy, keep these factors in mind.
- Claim Settlement Ratio (CSR): CSR is the ratio between the total number of claims raised and the number of claims settled by the insurer in a financial year. Hence, always choose an insurer with a higher CSR.
- Add Ons: Add-ons are extra covers that increase the coverage of a comprehensive car insurance policy and own damage insurance policy. Hence, choose a plan that offers maximum add-on covers for the enhanced protection of your vehicle.
- Buy/Renewal Process: Always ensure the car insurance renewal process is hassle-free, paperless, and quick.
- Customer Support: Choose an insurer that offers 24x7 support for claims & other queries.
Conclusion
Keeping yourself updated on the car insurance premium price list helps us make an informed choice when buying/renewing a policy. Remember to use an online car insurance premium calculator to compare quotes on PolicyBazaar.com and choose the right policy that best matches your coverage requirements and budget.
