Car Insurance Premium Calculator

A car insurance premium calculator is a simple online tool that helps you estimate the premium for your car’s insurance policy. Whether you are buying a new policy or renewing an existing one, this tool makes the process easier by giving you an instant quote based on key details.

To use the vehicle insurance calculator, you just need to enter basic information like your car’s registration number, model, and location. The tool will then calculate the estimated premium based on the coverage you select.

This tool also lets you adjust important policy details, such as the Insured Declared Value (IDV), which is the maximum amount you can claim in case of total loss or theft. Since the IDV impacts your premium, the calculator is sometimes referred to as an IDV calculator.

An online car insurance premium calculator also helps you compare different policies, choose add-ons like zero depreciation or roadside assistance, and find the best plan within your budget. This way, you can make an informed choice and keep your car well-protected under the terms of your insurance policy.

Car insurance can be a major expense, but there are many simple ways to reduce your premium without sacrificing coverage. By following these tips, you can save money while ensuring your vehicle is properly protected. Here are some effective ways to lower your car insurance costs:

• Avoid Filing Claims for Small Damages
  If you can afford to pay for minor repairs yourself, it's a good idea not to file a claim. This helps you maintain your No Claim Bonus (NCB), which can reduce the cost of your premium in the future.

• Transfer Your No Claim Bonus (NCB) to Your New Car Insurance
  If you have a good No Claim Bonus (NCB), you can transfer it to your new car insurance policy when you purchase a new car. This transfer can help you get a discount on your new insurance premium.

• Renew Your Policy Before It Expires
  Make sure you renew your car insurance on time, before it expires. Renewing your policy on time ensures that you don’t lose your NCB, which will help keep your premium low when you compare different policies.

• Install an Approved Anti-Theft Device in Your Car
  Many insurance providers offer discounts on premiums if you install a certified anti-theft device in your car. This reduces the likelihood of theft, which lowers the risk for the insurer and results in a lower premium for you.

• Avoid Modifying Your Car
  Although car modifications may improve the car's appearance or performance, they can raise your insurance premium. Insurance companies may view modified cars as higher risk, which can increase your overall premium.

• Purchase Car Insurance Online
  Using an online car insurance calculator allows you to compare different insurance quotes quickly. This helps you find the most cost-effective policy that suits your needs, without having to rely on an agent.

A car insurance premium calculator is an essential tool for calculating the premium of your car insurance policy, whether you're buying it for the first time or renewing an existing one. Here are several reasons highlighting the significance of using a 4-wheeler insurance premium calculator:

• Time-saving: The car insurance online calculator saves you the valuable time you would otherwise spend researching quotes from multiple insurance companies. It streamlines the process by providing quick premium calculations, sparing you the hassle of manually comparing quotes from various sources.

• Informed decision-making: The online car insurance calculator lets you make well-informed decisions without external influence. You can customise the premium rates based on the coverage you need for your vehicle, relying solely on your preferences and requirements.

• Easy purchase and renewal: With the help of a car insurance calculator, purchasing car insurance online becomes a seamless process. The premium calculation is simplified, facilitating a smooth and hassle-free policy purchase. Additionally, during renewal, the calculator allows you to complete the process conveniently from the comfort of your home.

• Plan and premium comparison: An online car insurance calculator empowers you to compare different policies and their respective premium rates efficiently. You can explore various car insurance policy types, consider multiple add-ons, and assess the combined cost of policy and add-ons. This comprehensive comparison helps you find a policy that perfectly aligns with your budget and insurance needs.

• Zero Depreciation Cover

The Zero Depreciation Cover reimburses the amount deducted for depreciation on parts replaced during your own damage claims. Normally, depreciation reduces the claim settlement based on the age and type of parts; this add-on ensures you receive the full cost of replaced parts without any deduction. This cover is especially beneficial for new vehicles and reduces the financial burden of repairs.

• Engine Secure

Engine Secure provides coverage for repair or replacement costs of internal engine parts, gearbox, transmission, or differential assembly. This protection applies when damage results from water ingress or leakage of lubricating oil. Please note that this add-on is applicable to vehicles with internal combustion engines (ICE) or hybrid electric vehicles (hybrid EVs). Pure electric vehicles (EVs) do not require this cover.

• Electric Surge Secure

Designed specifically for electric vehicles, the Electric Surge Secure add-on protects against losses caused by electrical faults such as short circuits, power surges, or arcing. It covers both the electric vehicle and the portable charging equipment supplied with the vehicle at purchase. Only the portable charger that comes with the EV is considered part of the vehicle and must be included in the Insured Declared Value (IDV).

• Return to Invoice Cover

Return to Invoice Cover compensates you for the difference between your vehicle’s Insured Declared Value (IDV) and the original on-road price of a new vehicle of the same make and model in cases of total loss, constructive total loss, or theft. This includes registration fees, road tax, and insurance charges. For discontinued or obsolete models, the last listed on-road price from the manufacturer or dealer will be considered.

• No Claim Bonus Protection

This cover safeguards your No Claim Bonus (NCB) even if you make an own damage claim, subject to certain conditions. To qualify, you must have had at least two consecutive claim-free years before the current policy period. Only one own damage claim can be registered in the current policy period for this protection to remain valid, allowing you to maintain your premium discount on renewal.

• Key Replacement Cover

Key Replacement Cover reimburses the cost of replacing lost or stolen vehicle keys and locks. It also covers labour costs involved if your vehicle is broken into and the locks need replacing. This add-on excludes keys for vehicles not owned for personal use.

• Tyre Secure Cover

Tyre Secure protects against accidental damage or loss of tyres and tubes. However, it excludes damage caused by natural wear and tear, uneven tyre wear resulting from defective steering geometry, wheel balance issues, or suspension failures. Loss or damage occurring within the first 15 days of the policy is also excluded, as is damage leading to the total loss of the vehicle.

• Loss of Personal Belongings Cover

This add-on covers loss or damage to your personal belongings inside the vehicle at the time of loss or damage to the vehicle. A claim excess of ₹250 applies per claim. Items such as money, securities, jewellery, travel tickets, goods carried for trade or business, and similar valuables are excluded from this cover.

• Additional Towing Charges Cover

If your vehicle is disabled due to an insured peril under Section I, this cover reimburses towing expenses to the nearest authorised garage or service station. Towing charges are not payable if the Section I claim is inadmissible. This add-on also excludes consequential losses or losses covered under the manufacturer’s warranty or recall campaigns.

• Consumable Expenses Cover

Consumable Expenses Cover pays for consumables replaced or replenished during accident repairs, including engine oil, gearbox oil, lubricants, nuts, bolts, screws, distilled water, oil filters, and air conditioning gas. Fuel costs are excluded. Repairs must be conducted at authorised garages, and a valid own damage claim is required.

• Misfuelling Cover

This cover reimburses costs incurred to flush out wrong or adulterated fuel from the vehicle’s tank and for repairing any damage caused by misfuelling. It also covers the cost of the wrong fuel filled, up to a maximum of ₹2,000 on submission of the bill. Only one claim is allowed per policy period under this add-on.

• Daily Allowance Plus Cover

Daily Allowance Plus provides financial compensation to help reduce inconvenience during vehicle repair. It offers a daily allowance to cover hired transport costs or arranges a courtesy/hire car while your vehicle is repaired. The courtesy car may not match your vehicle’s size or value exactly. In cases of theft or total loss, this benefit is available for up to 15 days.

• Roadside Assistance Cover

Roadside Assistance offers emergency services such as flat tyre repair, battery jump-start, emergency fuel delivery, towing assistance, key retrieval, emergency message services, vehicle pick-up for repairs, and hotel accommodation to support you during breakdowns or accidents.

• Emergency Transport and Hotel Expenses Cover

This add-on covers the cost of overnight hotel stays and taxi charges if your vehicle is immobilised due to an accident. This benefit is payable only if there is a valid and admissible claim for vehicle damage resulting from the same accident.

• Emergency Medical Expenses Cover

Emergency Medical Expenses Cover reimburses medical costs for bodily injuries sustained by you, the driver, or passengers due to a vehicle accident requiring hospital treatment. Expenses related to sickness, disease, or physiotherapy are excluded.

To understand how a car insurance premium is calculated, you can refer to this simple formula:

• Car Insurance Premium = Own Damage Premium - (NCB + Discounts) + Third-party Liability Premium +Addon premium as opted+GST

• Own Damage Premium – This is based on the car’s Insured Declared Value (IDV), model, and age.

• No Claim Bonus (NCB) & Discounts – Discounts are applied if you have a claim-free record or opt for voluntary deductibles.

• Third-party Liability Premium – This is a fixed cost regulated by IRDAI (Insurance Regulatory and Development Authority of India).

To simplify this process, using a vehicle insurance calculator or an online car insurance calculator can help you get an instant estimate. Whether you need a new car insurance calculator or want to renew an existing policy, these tools allow you to customise your coverage and compare premiums efficiently.

• Step 1: Submit the registration number

To begin, simply enter your car's registration number in the car insurance premium calculator. Click on "Get Price" to proceed to the next step.

• Step 2: Verify the fetched details

The calculator uses APIs to retrieve relevant car details (such as make, model, year, etc.) based on the registration number. Users are prompted to verify these details and make corrections if necessary, ensuring the quote is accurate

• Step 3: Get your quote

On the final page of our car insurance premium calculator, you can select the desired Insured Declared Value (IDV) and provide any previous car insurance policy details. Include your mobile number to receive an instant car insurance policy quote. For added convenience, you can also utilise the IDV calculator to determine your car's Insured Declared Value accurately.

By following these simple steps and submitting the necessary details, you'll receive multiple premium rates tailored to your car insurance needs. Our car insurance premium calculator empowers you to make well-informed decisions, allowing you to choose the most suitable car insurance policy online at competitive rates.

Using a car insurance premium calculator for a used car helps determine the estimated premium based on the vehicle’s history. To get an accurate quote, provide the following details:

• Details of the car's previous ownership – Include the names and other relevant details of previous owners.

• Claim details of the previous policy year – Input any claims made on the car’s insurance policy in the last policy year.

• Existing car insurance details – If the used car has an active policy, enter the insurance details accurately.

• Vehicle age & depreciation – Affects the vehicle insurance premium calculator results, as older cars typically have lower Insured Declared Value (IDV).

• Modification details – Any past modifications can influence the premium amount.

By using an online car insurance premium calculator, you can compare different insurance policy plans for your used car and get the best deal

If you’re insuring a new car, a new car insurance premium calculator can help you determine the best coverage. Key details required include:

• Car's registration details –One of the key details required is the vehicle’s registration information. Since new cars are not registered at the time of policy purchase and the registration number is therefore unavailable, you should provide the Regional Transport Office (RTO) code and the state where the vehicle will be registered.

• Make and model of the car – Select your car's specific make and model.

• Year of manufacture – The car's production year impacts the car insurance premium calculation.

• Details of the owner-driver – Include names, age, contact number, gender, and marital status.

• Policy's commencement date – Choose the start date for your car insurance policy coverage.

• Selected add-ons– Opt for additional coverage, such as zero depreciation or roadside assistance, for enhanced protection.

By entering these details in an online car insurance premium calculator, you’ll get an accurate and customised premium estimate for your new car insurance policy.

The car insurance premium is determined by multiple factors that influence the final cost of your car insurance policy. Using a car insurance premium calculator or a vehicle insurance premium calculator, you can check how these elements impact your premium.

• Car Make and Model

The cost of your car, its repairs, and spare parts affect the premium. A luxury car has a higher car insurance premium than an economy model.

• Policy Coverage

Your choice of insurance policy—Third-party, Own Damage, or Comprehensive—affects the premium. Comprehensive plans cost more but provide better protection.

• No Claim Bonus (NCB)

NCB is a reward for claim-free years, reducing your car insurance premium. It can go up to 50% over consecutive years.

• Insured Declared Value (IDV)

The IDV represents the car’s market value. A higher IDV increases the premium but ensures better compensation in case of theft or total loss.

• Add-Ons

Extras like Zero Depreciation, Engine Protection, and Roadside Assistance enhance coverage but increase your premium.

• Online Savings

Many insurers offer online savings for safe driving, early policy renewal, and voluntary deductibles, reducing the cost of an online car insurance premium calculator.

• Compulsory Personal Accident (PA) Cover

Mandatory by law in India, this cover provides up to INR 15 lakh compensation for accidental injuries or death, increasing the premium.

• Goods and Service Tax (GST)

A flat 18% GST applies to all car insurance policies, impacting the final premium amount.

By using a new car insurance premium calculator, you can customise your coverage and find the best premium rates suited to your needs.

There are several benefits of using an online car insurance calculator. It will help you make informed decisions and secure the most suitable car insurance policy**

• Ease of Buying Insurance

The car insurance premium calculator allows you to compare different plans easily, ensuring you find a policy that matches your requirements from the start of the buying process.

• Save Money on Premium Payment

By comparing car insurance quotes, you gain a clear understanding of each policy's inclusions and exclusions. This helps you select the right coverage and relevant add-ons, resulting in cost savings on the overall premium.

• No Difficulty in Making a Prudent Choice

The car insurance premium calculator provides insights into the factors influencing your premium, empowering you to make an informed choice based on your needs and preferences.

• No Hassles of Dealing with Agents

Online comparison and purchase of car insurance eliminate the influence of local insurance agents, allowing you to make unbiased decisions based solely on your judgment.

• Right IDV (Insured Declared Value)

With the car insurance premium calculator, you can adjust the IDV of your car based on its age, make, and model. It ensures you receive the appropriate market value compensation in case of theft or total loss.

• Right Add-ons

The calculator helps you choose the necessary add-ons to meet your car protection needs without unnecessarily increasing the premium amount.

• Premium

Calculating the car insurance premium accurately is vital to avoid unaffordable high payments or inadequate coverage in the long run.

A car insurance premium calculator facilitates a well-informed decision-making process, allowing you to tailor the policy to your needs, find the right coverage, and ensure cost-effective premium payments. By using this tool, you can confidently purchase the most suitable car insurance policy that provides optimal protection for your vehicle.

When it comes to securing your precious car with the right insurance, choosing a trusted and reliable provider is paramount. Tata AIG stands out as a leading name in the insurance industry, offering comprehensive car insurance policies that cater to the diverse needs of car owners.

This section presents five compelling reasons why you should consider Tata AIG for your car insurance, ensuring your vehicle's protection and peace of mind on the roads.

• Extensive Network Garages: Tata AIG offers the advantage of cashless repairs at over 7,500 network garages across India. This expansive network ensures easy access to quality repair services wherever you may be, without the hassle of settling bills, as the insurance provider takes care of the expenses.

• Comprehensive Coverage: Opting for Tata AIG's comprehensive car insurance provides complete cover beyond mandatory third-party insurance. It safeguards your car against damages arising from accidents, natural disasters like floods and earthquakes, human-made disasters like riots or vandalism, and even theft.

However, it's important to note that driving under the influence of intoxicating substances and driving outside the geographical area specified in your policy are not covered under this policy.

• Personal Accident Cover for Owner-Driver: With Tata AIG's car insurance policy, you receive a personal accident cover of Rs.15 lakhs for the owner-driver, as mandated by the Insurance Regulatory and Development Authority of India (IRDAI). This cover provides a benefit payment in the event of bodily injury sustained from the use of the insured vehicle that results in death or disability, as defined in the scale under the Personal Accident section of the policy wording. The benefit is payable only when the injury leads to death or disability as specified in the policy.

• Third-Party Liability Cover: Tata AIG's third-party liability cover protects you against financial damages caused by your insured vehicle to third-party persons or property. It safeguards you from legal implications and ensures that any third-party damages caused by your vehicle are handled.

• Loss of or Damage to the Insured Vehicle: In case of extensive damage or theft of your insured car (total loss), Tata AIG compensates you with your car's Insured Declared Value (IDV). The IDV is the current market value of your car, and it helps determine your insurance coverage and premium. By availing of the IDV from your insurance provider, you receive appropriate compensation for the loss incurred.

Tata AIG offers a comprehensive and customer-centric car insurance policy that not only protects your car against various risks but also ensures ease of access to repair services and prompt claim settlements. With these benefits and features, Tata AIG is a reliable choice for your car insurance needs.

Driving your way to a more affordable car insurance premium is possible with smart decision-making. Here are some inventive ways to reduce your car insurance costs:

• Turbocharge Your Voluntary Deductible: If you've been accident-free for years, rev up your savings by increasing your voluntary deductible. You can enjoy lower car insurance premiums by taking on a higher share of the repair costs during a claim.

• Pick Add-Ons with Precision: Customise your coverage like a pro! Choose add-ons that perfectly suit your needs and car's requirements. Opt for those that provide the right level of protection without unnecessary financial burden.

• A Conversation with the Insurance Maestros: Don't hesitate to steer your way to better deals. Contact your chosen insurance company and negotiate for a competitive car insurance quote. A friendly chat could lead to surprising discounts.

• Time Your Renewal with Precision: Drive through the renewal process smoothly by renewing your car insurance policy on time. You can skip the time-consuming pre-inspection, unlock No Claim Bonus benefits, and gain discounts that fuel your savings.

• Cruise with a Clean Driving Record: Safe driving is a work of art. Staying within speed limits and avoiding accidents keeps you secure on the roads and paints a rosy picture with your insurance provider. A clean driving record rewards you with coveted No Claim Bonuses year after year.

Remember, taking smart decisions can steer you towards a more budget-friendly car insurance premium. Make the right moves on the road and in your policy decisions, and watch your savings drive towards new horizons. Happy motoring!

Before you begin, take the time to compare car insurance policies. It is essential to understand the key factors that will help you make an informed decision when comparing car insurance policies.

• Price: The cost of replacing or repairing your car can be high, so price is a significant consideration. However, consider the features and coverage offered while comparing prices from different insurers. Strive to balance affordability and adequate coverage that suits your needs.

• Coverage: Beyond the basic coverage, pay attention to the availability of add-ons such as Return to Invoice, Zero Depreciation, Roadside Assistance, etc. Understanding your driving habits and requirements will enable you to select the most suitable insurance policy.

• Customer Reviews and Ratings: Feedback from other policyholders is invaluable in assessing an insurer's reliability and claim settlement process. Check customer reviews and the claim settlement ratio of various companies. Researching the after-sales services provided by insurers can also be beneficial.

• Your Car's Age: Your car's Insured Declared Value (IDV) is influenced by its market value, which reduces yearly due to wear and tear. As the car ages, its IDV decreases, leading to a lower premium and sum assured. However, older cars may also pose higher risks and vulnerability to damage, affecting the premium calculation.

• Exclusions & Invalid Claims: Thoroughly review each car insurance policy's terms and conditions, policy wording, and fine print to understand what is covered and what is not. Awareness of exclusions and inclusions will help you avoid claim rejections and ensure a smoother claims process.

With a clear understanding of these essential factors, you can confidently compare different car insurance policies and find the one that provides optimal coverage, suits your budget, and offers peace of mind during challenging times.