What is a car insurance calculator?

A car insurance calculator is a tool that allows you to calculate the premium for your car’s insurance and lets you compare the insurance quotes offered by the various insurance providers in India. Every consumer set has their own specific requirement and a car insurance calculator helps them to calculate and obtain the best insurance policy that meets their requirements.

For a buyer, a car insurance calculator is a valuable tool as it helps him to get car insurance quotes across different websites, making calculating car insurance premium easy and hassle-free. Thereby making it easy to compare different insurance companies in India, including their old insurers and choosing a good policy a hassle-free process.

How to use a car insurance premium calculator?

Online car insurance calculators allow customers to calculate the value of car insurance premiums in a simple manner. The car insurance quote received depends on the details/information a customer provides about the car he is looking to insure. Every car insurance calculator in India has a different way of calculating car insurance premium based on the insurance company’s criteria.

You can use car insurance calculator effectively in the following manner:

Premium calculation for used cars

– The premium for a used car is calculated upon providing relevant details like car type, type of fuel car runs on, registration number, details of the existing car policy and if any claims have been made in the past. After correctly entering the details mentioned above, the car insurance premium calculator displays of the car insurance premium amount that a customer needs to be pay for the car insurance policy.

Premium calculation for new cars

– The details required to calculate the car insurance premium for a new car are different from those required for an old car. The details required include car manufacturer’s name, car model, manufacture year, car’s registration state and a few more. It is important to input these details and those of the owner carefully, in order get an appropriate car insurance premium quote.

Why is it important to get a car insurance quote online?

An insurance policy is a crucial investment and therefore it is important to do due research online for car insurance policies before buying one. Online car insurance calculators in India free you from the task of making tedious calculations. Following are the befits of getting a car insurance quote online:

• It helps you become well informed about the insurance providers in the market & their offerings
• The overall process gets simplified & convenient
• Helps you be prepared with all the necessary documents beforehand
• Allows you to get a bigger picture of different insurance plans available in a quick manner
• Makes the task of comparing features & car insurance rates very easy & helps you get the best deals

What are the benefits of car insurance calculator?

The benefits of using a car insurance calculator in India are mentioned below:

• As an owner of a car you become familiar with the options available
• A car insurance calculator lets you take a well-informed decision before zeroing in on a policy
• Car insurance premium calculator saves time by freeing you from doing manual calculations
• It is a simple, reliable, convenient & hassle-free tool
• Helps you be pre-prepared with the pre-requisite documents
• The car insurance premium calculated are unbiased as there are no middlemen/agents involved
• This tool offers you the convenience of use from anywhere, be it from home or work
• Not only are the car insurance rates highlighted with a car insurance premium calculator, the various factors that are used for making fare comparisons between policies are highlighted too
• Car insurance calculators let you easily familiarize yourself with the nitty-gritty of various insurance plans, thereby allowing you to effectively choose the best suited car insurance policy for your car

What are the factors affecting car insurance premium?

Car insurance premium is affected by the following factors:

• Make of the car, it’s model & variant
• Cubic capacity of the car’s engine
• The location for which you want to insure your car
• Type of fuel your car runs on – Petrol/Diesel/CNG
• Year of your car’s manufacture (age of your car)
• How much No Claim Bonus you have accumulated since the last policy year
• The deductible amount (voluntary excess) you agree to pay at the time of claim settlement
• Discounts for employees of certain organizations
• The age & gender of an individual also affects the car insurance premium
• Car’s equipped with anti-theft devices get some discounts in car insurance premiums

What are the essential components of a comprehensive car insurance premium?

The essential components of the premium of a comprehensive car insurance policy are as follows:

• Own Damage Coverage

  The damages & losses caused to both, your car as well as the third-party are covered herein. Losses & damages arising out of the following are covered: Road accidents Theft Man-made disasters like fire, strikes, war, riots, terrorism, etc. Natural disasters like earthquakes, cyclones, floods, landslides, etc.

• Third-Party Liability Coverage

  If a car owner is involved in an accident due to his negligence and ends up causing injury/damage to the life or property of a third-party, he is legally liable to compensate for the damage/loss. A third-party car insurance coverage comes to the owner’s rescue in such a case, by compensating for the loss/damage caused to the third-party. Under an online comprehensive car insurance quote displayed by a car insurance calculator, coverage of third-party liability is included too.
  
  A third-party insurance policy compensates for the following:
  Death or bodily injury to the third party
  Damage caused to any third-party property
  Death of the insured (vehicle owner or driver)
  Permanent Total Disability of the insured vehicle owner or driver

• Personal Accident Cover

  A personal accident cover is a monetary compensation that is provided by the insurer in case of unfortunate event. It is a crucial coverage to have in case a fatal accident results in death or disability of the car driver. This cover is so essential that the law compulsorily statues a PA cover with a motor insurance policy. Adversaries like broken bones, burns, disability/death are covered under personal accident insurance.

What is a bike insurance calculator?

A tool that allows you to obtain two-wheeler insurance quotes for your vehicle’s insurance and lets you compare the insurance quotes offered by various insurance providers in India, is known as a bike insurance calculator. Every individual has a different set of requirements and a bike insurance calculator helps him to calculate and get a two-wheeler insurance policy at reasonable rates, as per his requirements.

For a customer, a bike insurance calculator is an important tool which helps him obtain two-wheeler insurance premium quotes in a hassle-free and easy way. Thereby making the process of comparing two-wheeler insurance policies offered by different insurance companies in India, a quick & convenient process.

How to use a two-wheeler insurance premium calculator?

Bike insurance premium calculators help buyers to gauge two-wheeler insurance premium amounts easily. The two-wheeler vehicle insurance premium received depends on the information/details provided by the buyer, about the vehicle he is looking to insure.

Bike insurance calculators differ in their way of calculating two-wheeler insurance premium, based on the criteria of an insurance company. Any bike insurance calculator gives quotes based on the type of the insurance policy – Comprehensive policy & Third-party policy. The premium calculated by two-wheeler insurance premium calculator for these policies is based on:

Third-party premium: The Insurance Regulatory and Development Authority of India (IRDAI) decides the rates of third-party bike insurance premium. The premium calculated is based on the vehicle engine’s cubic capacity. The third-party bike insurance premium rates change every year basis IRDAI’s decision.

Comprehensive premium: A comprehensive two-wheeler policy’s insurance premium varies from one insurance provider to another. The bike insurance calculator takes different variables into consideration when calculating the premium for comprehensive policy, as this insurance provides a financial cover for own damage too. The Insured Declared Value or IDV determines the own damage premium. The factors considered are location of vehicle registration, ex-showroom price and age of the two-wheeler.

Why is it important to get a two-wheeler insurance quote online?

An insurance policy is an important investment and it is hence crucial to do a proper research online for two-wheeler insurance policies before settling for one. Online two-wheeler insurance premium calculators free you from the task of doing lengthy calculations. The benefits of getting a two-wheeler insurance quote online are as follows:

• Helps you in becoming well informed about the two-wheeler insurance providers in India & the plans they offer
• Makes the overall process simplified & convenient
• Allows you to be prepared beforehand with all the necessary documents
• Helps you to get a bigger picture of the insurance plans available in the market in an easy manner
• Makes comparing features & two-wheeler insurance rates across different companies very easy, therefore helping you decide on the best deal available

What are the benefits of a bike insurance calculator?

The benefits of using two-wheeler insurance calculator online are mentioned below:

• As a bike owner you become familiar with available options
• A two-wheeler insurance premium calculator lets you take a well-informed decision before buying a policy
• Bike insurance calculator saves your time as you don’t have to do manual calculations
• It is a hassle-free, reliable & simple tool
• Helps you be prepared in advance with the pre-requisite documents
• The premiums calculated are unbiased due to no involvement of middlemen/agents
• A convenient tool which you can use from anywhere, be it home or work
• A bike insurance premium calculator not only highlights two-wheeler insurance rates, it also highlights the factors that are used for making fare comparisons between different policies
• You can easily familiarize yourself with the nitty-gritty of different plans with the help of a bike insurance premium calculator, thereby letting you choose the best suited insurance policy for your bike

What are the factors affecting two-wheeler insurance premium?

Your bike insurance premium is affected by the following factors:

• Make of the vehicle, it’s model & variant
• Cubic capacity of the bike’s engine
• The location for which you want to insure your two-wheeler
• Type of your vehicle – Fuel (Petrol)/ Electric
• Your bike’s manufacturing year (age of your two-wheeler)
• The amount of No Claim Bonus you have accumulated since the last policy year
• The deductible amount (voluntary excess) you agree to pay at the time of claim settlement
• Discounts for employees of certain organizations
• The age & gender of an individual
• Bike’s equipped with additional safety accessories get some discounts in two-wheeler insurance premiums

What are the essential components of a comprehensive bike insurance premium?

A comprehensive bike insurance policy has the following essential components:

• Own Damage Coverage

  The losses and damages caused to your bike as well as the third-party are covered under this insurance premium. Losses & damages arising out of the following are covered:
  a. Road accidents
  b. Theft
  c. Man-made disasters like fire, strikes, war, riots, terrorism, etc.
  d. Natural disasters like earthquakes, cyclones, floods, landslides, etc.

• Third-Party Liability Coverage

  If a two-wheeler owner is involved in an accident due to his negligence and ends up causing injury/damage to the life or property of a third-party, he is legally liable to compensate for the damage/loss. A third-party bike insurance coverage comes to the owner’s rescue in such a case, by compensating for the loss/damage caused to the third-party. Under an online bike insurance quote displayed by a bike insurance calculator, coverage of third-party liability is included too.
  
  A third-party bike insurance policy compensates for the following:
  a. Death or bodily injury to any third party
  b. Damage caused to third-party property
  c. Death of the insured (vehicle owner or driver)
  d. Permanent Total Disability of the insured vehicle owner or driver

• Personal Accident Cover

  A personal accident cover is a financial compensation that is provided by the insurance company in case of an unfortunate event. It is a vital coverage to have in case a fatal accident results in death or disability of the two-wheeler insurance driver. This cover is so essential that the law makes it compulsory to have a PA cover a part of a vehicle insurance policy. Adversaries like broken bones, burns, disability/death are covered under personal accident insurance.