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      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. In India, car insurance prices fluctuate every year and are based on regulatory guidelines, type of vehicle, and use. This article explores the latest car insurance premium prices in India for 2025 to help you calculate your premium amount.

      Read more

      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.

      Car Insurance Premium Price List India FAQs

      • Q1. Are third-party premiums the same across all insurers?

        Ans: Yes. IRDAI revises & fixes 3rd-party insurance premiums every year. These are based on a car's engine/electric motor capacity and are the same across all insurance providers.
      • Q2. Can I reduce my car insurance premium?

        Ans: In essence. You can reduce your car insurance premium by opting for higher deductibles, avoiding claims, and utilising NCB discounts.
      • Q3. What's the average car insurance premium for a sedan in 2025?

        Ans: An average car insurance premium for a sedan like Honda City in 2025 ranges between Rs. 15,000 – Rs. 20,000.
      • Q4. Which type of car insurance is best?

        Ans: A comprehensive car insurance policy offers the most optimum coverage, which includes both third-party liabilities and damages to your vehicle from accidents, theft, fire, natural disasters, etc.
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      Disclaimer: The list mentioned is according to the alphabetical order of the insurance companies. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in
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      #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.

      +Savings are based on the maximum discount on own damage premium as offered by our insurer partners.

      ##Claim Assurance Program: Pick-up and drop facility available in 1400+ select network garages. On-ground workshop team available in select workshops. Repair warranty on parts at the sole discretion of insurance companies. Dedicated Claims Manager. 24x7 Claim Assistance.

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