Calculate Your Car Insurance Premium Now
Car Insurance Premium Calculator
As the name suggests, a car insurance calculator helps car owners and prospective car buyers in computing the premium amount while choosing the right car insurance policy online. Everyone looks for a suitable car insurance policy based on their specific needs and preferences. For making an informed choice, it’s important to use an online car insurance premium calculator to buy the most suitable policy.
What is a Car Insurance Calculator?
A car insurance premium calculator is a free tool available online that makes the calculation of the car insurance premium quick and easy. This four wheeler insurance calculator not only saves time and effort but also ensures that you get the most suitable quotes as per your requirements.
By choosing an appropriate premium for your car insurance policy through the insurance premium calculator, you can ensure that your policy meets your needs while you pay affordable premiums within your budget.
To use an insurance premium calculator for your car premium calculation, all you have to do is input your car registration number and our calculator will fetch the rest of the car details. Verify the details, input the IDV and get the premium quote with just a click. After this, the four wheeler insurance calculator will fetch a number quote that you need to pay for the coverage of your choice.
Tips to Save On Your Car Insurance Premium
The calculation of your car insurance premium is important if you want to keep your car insurance policy in effect for the long term. But to ensure that you pay only what is necessary and not end up buying a higher priced plan it is critical to know how to reduce your car insurance premium.
Here are some tips to reduce the car insurance premium:
Choose Add On Covers Wisely: Car insurance add-ons are necessary for enhancing your car’s insurance coverage. When choosing add-ons for your car insurance policy, always remember that they come at an extra premium and adding too many add-ons to your policy will simply hike the premium amount.
Therefore, pick out only the add-ons that are essential for protecting your car with the help of the car insurance premium calculator so that you pay affordable premiums and can also provide better insurance coverage for your car.
Car Accessories and Modifications: When you fit your car with safety attachments like an anti-theft device, it reduces the risk of your car being stolen. Therefore, your insurance provider considers this as a responsible measure and will reduce your car insurance premium.
Similarly, as far as possible, making specialized modifications to your car like replacing regular wheels with alloy wheels, etc., can increase your car insurance premium. Hence, how you modify your car will affect the amount of premium you pay for the policy.
Timely Renewals: When you renew your car insurance on time, you get the benefit of the No Claim Bonus, which can expire on delayed car insurance renewal. At Tata AIG, we provide a grace period of 90 days for you to pay off your premiums without any further delay.
However, after the grace period, your unpaid premium will cause your policy to lapse and will affect your accumulated discount on the premium. This discount enables you to pay lower premiums in the upcoming policy year, and so, you should be careful about timely insurance renewal.
Always Drive Carefully: Car insurance providers offer a No Claim Bonus discount to policyholders who do not file any damage claims during the policy year. This is a benefit offered by insurance providers for safe and responsible driving that ensures minimum to no instances of damage of any sort to your vehicle.
When you renew your insurance policy, this discount is applied to your premium payment and as a result, you pay a lower premium. If you accumulate this discount over the years, you can pay up to 50% less on your premiums. Hence, through safe driving practices, you can ensure lower premium payments.
Why is it Important to Use a Car Insurance Premium Calculator?
A car insurance premium calculator is necessary when you want to calculate the premium for your car insurance policy before purchasing or renewing it. Here are some of the other reasons that highlight the importance of using a four wheeler insurance premium calculator for premium calculation:
Saves time:The car insurance online calculator helps you save the time you would otherwise spend on researching quotes from various car insurance companies online. And not just that – after seeking out all the quotes, comparing them all can become a time-consuming hassle if you do not have an online car insurance calculator at your disposal.
Aids informed decision making: When you calculate the premium rates on your own with the help of an online car insurance calculator, you have the liberty of making informed decisions without any external influence. The premium rates are chosen by you, as per the coverage you need for your vehicle. Therefore, you need not rely on anyone else’s opinion except your own.
Facilitates easy purchase/renewal: A car insurance calculator makes it easy for you to buy car insurance online. This is because a major part of the purchasing process is the car insurance premium calculation. Once this is simplified, you can purchase your car insurance policy without any obstacles. Similarly, while renewing your policy, the premium calculator helps you do so from the comfort of your home.
Compare plans and the premium cost: An online car insurance calculator allows you to compare the different policies and their premium rates efficiently and quickly. With a single calculator, you can choose different car insurance policy types, multiple add-ons, policy plus add-on combinations. You can compare the different premium rates for the nature and extent of coverage you choose and find the policy that best suits your budget and insurance needs.
How to Use a Car Insurance Premium Calculator?
At Tata AIG, we help you calculate the insurance premium with our car insurance premium calculator so that you get the best quotes for your four-wheeler insurance policy.
Here is how you can calculate the insurance premium of your car and get a quote for a comprehensive car insurance policy in three easy steps:
Step 1. Submit the registration number:
To use the car insurance calculator, you will first need to fill in your car’s details. First, mention your car’s registration number and then click on “Get Price” to proceed.
Step 2. Verify the fetched details
The API of our calculator will automatically fetch the relevant details. Verify the details and make any changes, if required.
Step 3. Get your quote
On the last page of our car insurance calculator, select the Insured Declared Value (IDV) and any previous car insurance policy details along with your mobile number to get an instant car insurance policy quote.
After you submit all of the details mentioned above to get your car insurance premium, you will be able to view various premium rates for your car.
Required Information for the Premium Calculation of Used & New Cars
If you want to calculate the car insurance premium for your used or new car, our car insurance premium calculator helps you identify several factors that affect your car insurance premium. You can use the premium calculator -
For a Used Car
These are the details that you will need to provide while using the car insurance calculator for the calculation of your car insurance premium:
- Details of the car’s previous ownership
- Claim details of the previous policy year
- Existing car insurance details
For a New Car
To know how to calculate the insurance premium of your new car, on a new car insurance calculator, these are the details to be provided on the premium calculator:
- The car’s registration details
- The make and model of the car
- Year of car manufacture
- Details of the owner-driver - name, age, contact details, gender, marital status, etc.
- The policy’s commencement date
Factors That Determine Car Insurance Premium Value
Whether you go for third-party car insurance or a comprehensive car insurance policy, your car insurance premium is determined by several factors:
Insured Declared Value
The IDV is the current market price of your car. This is the sum assured that is paid to you if your car is stolen or suffers complete damage beyond repair. You have to fix the IDV for your car insurance policy based on the prevailing market rate of your car, taking into account any depreciation. The higher the IDV, the higher is the premium rate. However, do not opt for an extremely low IDV to save premium as that will result in lower settlement amount in case of car theft.
Your Car’s Cubic Capacity:
A third party cover is the basic and mandatory type of car insurance any car owner must have. Hence, third party car insurance rates are determined by the IRDAI (Insurance Regulatory and Development Authority of India) based on the cubic capacity of a car.
No Claim Bonus / NCB:
When you renew your car insurance, car insurance providers offer a discount on a premium known as No Claim Bonus to responsible and safe car insurance policyholders. At the time of your car insurance renewal, this discount will be applied to your premiums. If you do not file claims for many consecutive years, you can pay up to 50% less on your premiums.
Your Car’s Brand, Model, and Variants
The type of car you own, its engine capacity, fuel tank, etc., can determine the car insurance premium. If you have an expensive car or one that needs special maintenance, the insurance premium for the car will also go up.
Your Geographical Location – Urban or Rural
Where you reside will influence your car insurance premium cost. If you stay in an urban area or a city, your car will be exposed to greater risks on main roads and traffic, which in turn hikes the premium cost. Likewise, if you stay in a rural area where there is less risk to your car, the premiums will be lower.
Chosen Fuel Type
Diesel cars are more expensive than cars that run on petrol, and this will affect your car insurance cost. This is because diesel-powered cars require more maintenance since most high-end cars use diesel.
Your Car’s Age
Your car’s age determines its rate of depreciation which will affect the car insurance premium. The depreciation is due to the wear and tear that the car faces over the years. Since the IDV (Insured Declared Value) or the current market value of the car comes down due to depreciation, so will the insurance cost.
Choice of Add-ons
Add-ons are an excellent way to enhance the coverage of your policy against specific damages. However, know that inclusion of add-ons entail payment of additional premium. So make sure to evaluate all the add-ons available and choose only the ones that you truly need.
● Voluntary Deductible
The voluntary deductible is a variable that affects the car insurance premium. By opting for the voluntary deductible, you pay some of the insurance amounts from your end, which not only brings down the premium rate but also the amount paid out at the time of car insurance claim settlement.
Benefits of Using TATA AIG Car Insurance Premium Calculator
Using a car insurance online calculator offers these important benefits:
Ease of Buying Insurance:
When you want to buy a car insurance policy, comparing different plans at the very start of the insurance buying process makes it easier for you to purchase a car insurance policy that is well suited to your requirements.
Save Money on Premium Payment:
When comparing car insurance quotes, be sure to understand all the inclusions and exclusions related to every car insurance policy. This helps you in choosing an appropriate car insurance cover and including only some relevant add-ons to fill in the gaps, thereby helping you save on the total premium outflow.
No Difficulty in Making a Prudent Choice:
By using a car insurance premium calculator, you can know more about the factors that influence your car insurance premium. This knowledge helps in making an informed choice. A new car insurance calculator is ideal if you have a brand-new car that you want to buy insurance for.
No Hassles of Dealing with Agents:
With online comparison and purchase of car insurance, you can avoid facing the influence of local insurance agents. You can select a policy by considering every minor or major aspect based only on your decision and choice.
Right IDV (Insured Declared Value):
With a car insurance policy calculator, it is possible to adjust the IDV (Insured Declared Value) of your car according to the car’s age, make and model. By choosing the right IDV for your vehicle through the car insurance calculator, your car insurance compensates you with the right market value of your car in case of theft or total loss.
Including add-ons to your car insurance policy ensures that all the specific needs for protecting your car are taken care of. However, these add-ons can increase the overall car insurance premium of your car insurance policy if not selected carefully. Therefore, using a car insurance premium calculator can help you choose only the premiums you need while keeping a tab on the premium amount.
One of the main reasons for using a car policy premium calculator is to calculate the car insurance premium. The reason this is important is that over the long term, high premium payments can become unaffordable, while low premium payments mean inadequate car insurance cover.
5 Reasons Why You Should Get Your Car Insurance from TATA AIG
● 7500+ Network Garages:
By choosing a Tata AIG car insurance policy, you can enjoy the benefit of cashless repair at more than 7500 network garages throughout India. When selecting a car insurance company, always consider the network garages so that you can easily have your car repaired, no matter where you are. Additionally, you need not worry about settling any bills as your insurance provider will take care of that aspect.
● Comprehensive Cover:
As compared to a basic but mandatory third-party car insurance cover, Tata AIG’s comprehensive car insurance cover protects your car against liabilities arising from third-party damages as well as damages due to loss of the vehicle, accidents, human-made disasters such as riots or vandalism, as also natural disasters like floods, earthquakes, etc. But it is to be noted that damages arising from driving under the influence of intoxicating substances or driving outside the geographical area as specified in your policy cannot be covered under a comprehensive car insurance policy.
● Personal Accident Cover for Owner-Driver:
Our car insurance policy provides you with a personal accident cover of ₹15 lakhs, according to the rules of the IRDAI (Insurance Regulatory and Development Authority of India). Any physical injuries, disability or even the death of the owner-driver due to an accident will be covered by the personal accident cover and is a part of the policy when you buy insurance for your car.
● Liability to Third Parties:
The Tata AIG third-party liability cover is useful for protecting you against financial damages caused by your insured vehicle to a third party person or property. Not only does the third-party liability cover, which is compulsory by law, save you from legal implications but also ensures that all third-party damages caused by your vehicle are taken care of.
● Loss of or damage to the vehicle Insured:
In the event of your insured car being extensively damaged or stolen (also known as a total loss), your insurance provider will pay the IDV of your car to compensate for the loss, as per the terms and conditions of your car insurance plan. The IDV is the current market value of your car and also helps determine the insurance coverage of your car as well your car insurance premium. Hence, if your car suffers a total loss, you can avail of the IDV from your insurance provider.
Frequently Asked Question
1. How is insurance calculated for a new car?
You can use a new car insurance calculator to calculate the insurance for your new car on the Tata AIG official website. To get the insurance for the new car, enter your details on the calculator as required, and you can get a quote for your new car insurance quickly in 3 simple steps.
2. What is a car insurance premium calculator?
A car insurance premium calculator is a free online tool provided by your car insurance provider, which helps you get the most suitable car insurance premium quotes for your vehicle. Tata AIG’s simple and time-saving insurance premium calculator helps you choose the right car insurance premium to be paid so that you get appropriate insurance cover for your car.
3. I want to get online quotes for my car; from where can I get it?
By visiting the official website of Tata AIG, you can calculate the insurance for your new car and get online car insurance quotes. All you need to do is fill in some basic details of your car, such as the car manufacturer’s name, the model number, the registration details, etc., as well as your mobile number. In three simple steps, the car insurance premium calculator will quickly process the information to give you the aptest quotes for your car insurance.
4. Where can I find a car insurance calculator?
You can visit the Tata AIG official website and find our car insurance calculator for your convenience. In a few prompt and easy steps, you can use the car insurance premium calculator to understand how you can pay an appropriate amount of premiums to protect your car.
5. Can I use a car insurance premium calculator at the time of insurance renewal?
Yes, you can use a car insurance policy calculator during the renewal of your car insurance policy. During the car insurance renewal process, the car policy premium calculator lets you add or remove the add-on coverage to your policy, adjust the coverage amount and also make use of your No Claim Bonus discount.
6. What is the importance of a car insurance premium calculator?
A car policy premium calculator is important because it helps you understand which factors actually affect your car insurance premium and how a change in these variables can affect the calculation of your car insurance premium.
When it comes to buying or renewing your car insurance policy, you can save a lot of time that would be otherwise spent in looking up the insurance quotes of different companies and comparing them. A car policy premium calculator does the same in a matter of minutes while providing accurate results.
The insurance premium calculator helps you in selecting a suitable policy for your car so that you either don’t end up with inadequate coverage for your vehicle or don’t have to pay hefty and unaffordable premiums to upkeep your policy.
7. What are some effective tips to reduce car insurance premiums?
One of the most effective ways to reduce your car insurance premium is to calculate the IDV of your car properly. This results in you paying an affordable premium while ensuring that your vehicle receives the right amount of insurance coverage. Also, if your car has safety and anti-theft devices installed in it, this brings down the insurance premium as the risk of your car being stolen is lower.
It is also wise to avoid filing claims for small damages to your car so that you can accumulate the No Claim Bonus discount on your car insurance policy during the policy year. This discount on premiums ensures lower premiums when you renew your policy or even when you purchase a new one. Among the many other ways to keep your car insurance premium affordable, one of the most common ones is to opt only for the add-ons that are essential. By choosing only necessary add-ons, you get better coverage for your car at a nominal cost.
8. How to calculate car insurance premiums in India?
In India, you can get a third-party car insurance policy or a comprehensive car insurance policy. Third-party car insurance is a mandatory car insurance policy that only covers the damages to a third-party vehicle or person. The premium rates are determined by the IRDAI (Insurance Regulatory and Development Authority of India) based on the cubic capacity of a car.
However, a comprehensive car insurance policy includes third-party cover as well as Own Damage (OD) cover. The OD premium is, therefore, calculated with this formula:
Insured Declared Value x rate of premium as specified by the insurer + add on benefits - discounts = OD Premium.
Likewise, you can calculate the insurance premium of a car with a price calculator in India. The use of a car insurance calculator in India has increased due to its ability to provide quick and hassle-free results. Our Tata AIG car insurance calculator helps you get instant quotes in three quick steps.
9. Does the car model affect the cost of a car insurance premium?
Yes, the car model is one of the important factors that go into calculating your car insurance premium. Based on the model of the car, the Insured Declared Value or IDV is calculated, which is the current market value of your car. This, in turn, determines the amount of insurance coverage your car should have. If the IDV is higher, the premium costs will also increase.
10. How to calculate the insurance premium for second-hand motorcars?
If you want to calculate the car insurance premium for second-hand motor cars, then you can use the Tata AIG car insurance online calculator on our official website. All you need to do is
- Mention the registration number of your car and click on “Get Price”.
- Fill in the car’s name, variant and brand and proceed to the next page.
- Add a few more details of your car, any previous insurance policy and your number and then get instant car insurance premium quotes.