Car Insurance Premium Calculator Online

Car insurance calculator is an online tool that allows you to calculate the premium for your car’s insurance and lets you compare insurance quotes offered by various insurance providers in India. Customers have their own set of requirements when it comes to their car. A car insurance calculator helps calculate and select the best car insurance policy that meets these 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 car insurance premium calculation easy and hassle-free. This then, makes it easy to compare different insurance companies in India, including old insurers and choosing a reliable policy through a simple and time-saving process.

What is a Car Insurance Premium Calculator?

Car insurance premium calculator is a very helpful online tool offered by insurers and online platforms that helps you to calculate and derive at the insurance premium quote for your car. All you have to do is, enter a few details such as your car’s make and model, registration number, etc., and your free quote is displayed instantly!

How is it different from a third-party car insurance premium calculator?

A third-party car insurance premium is no different from a regular car insurance premium calculator. This tool helps determine the premium amount payable by the customer, if opted for a third party car insurance. The major difference between third party and comprehensive insurance is in the extent of coverage offered. Car insurance premium calculator helps take into consideration, your needs and your budget, so you can not only pick the right plan, but also go for a pocket-friendly alternative.

How does a Car Insurance Calculator work?

Car insurance calculator helps customers determine the premium amount payable in a very simple and defined manner. The premium amount displayed depends on the information a customer provides regarding the car, which he is planning to insure. Each car insurance provider in India has a different way of calculating car insurance premium.

Here’s how a car insurance calculator works:

For used cars– Car insurance premium for a used car can be calculated by providing relevant car details like the make and model of the car, car’s fuel type, registration number, necessary details of the existing car insurance policy, and specifying whether any claims on your existing car insurance policy have been made in the past. After entering the correct details, car insurance calculator displays the car insurance premium amount that a customer needs to be pay for the car insurance policy.

For new cars– In case of a new car, the details required to calculate the car insurance premium are different from those required for an old car. You have to mention the car manufacturer’s name, car model, manufacture year, car’s registration state and a few more details. Along with this, the car insurance calculator requires the car owner’s details too, in order get an appropriate car insurance premium quote.

Steps to Use Car Insurance Premium Calculator?

Car insurance premium calculator is an easy-to-use online tool. All you need to do is, follow some quick steps online, enter the relevant information and the calculator displays the premium amount payable by you.
Just follow these 5 simple steps to calculate your car insurance premium:

  • Enter your car’s registration number & mobile number, confirm if your existing policy is expired
  • Fill your car details such as number, make & model, fuel type, and more
  • Pick the plan of your choice!
  • Provide your personal information including date of birth, address, etc.
  • And that’s it! Your car insurance premium will be displayed.

List of Car Insurance Providers we are Partnered With:

Bajaj Allianz Car Insurance is a reliable product offered by Bajaj Allianz, a collaboration between Bajaj Finserv Limited and Allianz SE. With their profound expertise in the general insurance industry, their products are designed to meet the unique needs of customers. Bajaj Allianz Car Insurance is equipped with great features and value-added benefits, so customers can get better value for money.
Acko General Insurance, with its a different approach, makes buying insurance easy and quick! The plans are well-designed for the customer's needs. It offers inexpensive plans and a range of add-on covers to enhance the plans as per customer requirements.

How to Compare Car Insurance Quotes Online?

Online car insurance calculator has made it easier for customers to view the premium amount payable, instantly. It is important to keep certain factors in mind, while we compare car insurance quotes online. Here’s what you need to consider when comparing car insurance plans:

  • It is important to examine factors such as the features and inclusions to identify the right choice.
  • Insurance cover is the next important factor that lets you select the plan. Typically, lower the premium, lower is the insurance cover. Hence, it is important to go through the plan details.
  • Check for the add-on covers made available with the plan, so you can enhance your financial protection against damages.

Benefits of Using a Car Insurance Calculator

As car insurance is mandatory in India, customers are being more and more keen to ensure their car insurance policy is in place. With the entire car insurance premium calculation process made available online, here’s why the car insurance calculator proves beneficial:

  • An online car insurance calculator is a simple, reliable, convenient & hassle-free tool
  • It helps you become familiar with the options available
  • It saves ample amount of time by eliminating the need of doing manual calculations
  • It helps you be pre-prepared with the pre-requisite documents
  • Car insurance calculators let you easily familiarize yourself with the nitty-gritty of various insurance plans, thereby allowing you take a well-informed decision before zeroing in on a policy
  • The car insurance premium calculated is unbiased with no middlemen or agents involved
  • This tool offers you the convenience of use from anywhere

Factors which Determine Car Insurance Premium

Vehicle Age

The manufacturer’s present value & depreciation based on the age of your car help determine the car's Insured Declared Value or IDV. Hence, it remains a crucial factor.

Geographic Location

If you are located in areas that are prone to vandalism, you may have to pay a higher premium. This is because, a car parked in a dangerous zone means greater chances of damage and theft.

Type of Coverage

The type of car insurance plan you opt for, third-party insurance or comprehensive car insurance, has a key role to play in determining your car insurance premium. As comprehensive car insurance covers both, own damage & third-party damage, the premiums are higher.

Type of Engine

Insurers often ask for our car’s engine capacity as it is one of the key factors determining your car insurance premium.

Add-on Covers

Riders or add-on covers are a crucial factor in determining the car insurance premium amount. Although it adds to the base premium a bit, add-on covers are a great way to enhance your coverage with the hike of a nominal amount.

How to reduce car insurance premium?

Do you go for a third-party car insurance while selecting car insurance online just to save on premium? Not anymore! Now you need not compromise on the coverage of your choice, as you can reduce car insurance premium by taking care of the following aspects:

  • Compare & buy –

    It is crucial to compare the car insurance plans available in order to arrive at the best plan that suits your needs, so you can get good value for money.
  • Pick add-on covers wisely –

    Ensure you pick the additional covers wisely so you do not end up paying extra for the riders you do not require.
  • Avoid filing claims for minor damages –

    Take care of minor damages out of your pocket, so you can save on your premium through the No Claim Bonus benefit for every claimless policy year.

What are the components of a car insurance premium?

There are three key components of a regular comprehensive car insurance premium, which include Third party (Liability) Cover, Own Damage (OD) Cover, and Personal Accident Cover.

Does a car's fuel type affect the car insurance premium?

Yes, the car’s fuel type is one of the key factors affecting the car insurance premium. Usually, diesel cars have a relatively higher insurance premium than petrol cars as the former have a marginally higher risk cover than the latter.

How does a car insurance premium calculator help during policy renewal?

Car insurance premium calculator is an effective tool for the buyers during policy renewal. This is because, you cannot just arrive at the insurance quote instantly, but also select the car insurance plan that suits your budget and requirements.