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above-mentioned prices are for a 7-year-old Maruti WAGON R AVANCE LXI ( 998 CC ) registered in Gurgaon and 15 days before termination of former policy

What is Car Insurance Premium Calculator?

A cable car indemnity calculator is an on-line cock that calculates the estimate bounty amount for a car indemnity policy. It allows you to know the actual premium that you would have to pay for buying different cable car policy plans and thus, helps you to pick the best design within your budget. All it needs are the details of your car, including its age, make & model, fuel character, etc. to calculate the bounty come .
With the help of a car indemnity premium calculator, you can compare unlike plans and see if they meet your coverage requirements adenine well as your budget. This instrument can be used by all car insurance buyers as it is available for free.

How To Use Car Insurance Calculator Online?

In order to use the cable car policy calculator on-line, follow the steps mentioned below :
Step 1 : Select your car ’ s make & exemplar, post, fuel type and variant .
Step 2 : Select the location registered for your car from the tilt .
Step 3 : Select the car ’ s year of buy .
Step 4 : nowadays you will see two options as Yes or No .
Step 5 : If you made any claims in the previous class then select Yes otherwise blue-ribbon No .
Step 6 : once you are done with this routine, you will have to enter your fluid number and diagnose .
Step 7 : An OTP will be sent to your mobile issue then you will have to enter that OTP to get the car policy policy premium quotes .

Benefits of Car Insurance Calculator

Below are the mention benefits of using a car policy calculator on-line :

  • Using a car insurance premium calculator before buying a plan makes the overall process easy and convenient for the buyer
  • Make a comparison of premium rates and choose the best insurance plan
  • See for yourself how changing variables of coverage change your premium
  • No need to take your decision in haste or under influence of the agents

save up to 85% save up to 85%

How to Calculate Car Insurance Premium?

The account premium is the aim result of a basic convention. The formula would give you a better understand of how precisely the car indemnity premium is calculated.
Premium = Own Damage Premium – ( No claim bonus + discounts ) + Liability Premium that is fixed by the Insurance Regulatory and Development Authority ( IRDA ) of India hera is an exercise of car indemnity calculation so that there is no room for any confusion .

Factors Manufacturing Year (2012) Car Insurance with NCB 
Ex Showroom Rate Rs. 4,16,000  
Depreciation 20% Rs. 83,200
Insured Declared Value Rs. 3,63,800  
Own Damage Premium 1.970% Rs. 6556
No Claim Bonus Discounts 20% Rs. 1311
Total Own Damage Premium Rs. 5,425  
Personal Accident Cover Rs. 100  
Legal Liability Paid to the driver Rs. 50  
Compulsory Third-Party Cover Rs. 1110  
Net Premium Rs. 6505  
Service Tax 14% Rs. 911
Total premium Rs. 7416  

How to Reduce Car Insurance Premium?

The premium rates of the car insurance policy vary from the kind of cover the policyholder opts for and some other factors as well. To keep the premium rates of the indemnity policy low, you can keep the follow things in mind .

Online Purchase

Purchasing the policy policy on-line is cost-efficient. When a buyer choose for an on-line purchase, they get to compare different policies and purchase the one that suits their requirements and budget. besides, it reduces the agentive role ’ second tip .

Not Raising Small Claims

When the policyholder raises the claim for minor damages, they lose the profit of the No Claim Bonus ( NCB ). It would be wiser and beneficial for the policyholder to not raise a claim for the minor damages and pay for its repair out of scoop .

No Claim Bonus Transfer

The policyholder should know his justly and transfer the No claim bonus profit after purchasing a raw cable car and a new car insurance policy. When a policyholder hasn ’ t raised a claim in the previous year ‘s makes that policyholder eligible for NCB profit that is decided by the IRDAI .

Renew Policy on Time

When the policyholder does not renew the policy on time the insurance company provides a grace period during which the policyholder can renew the policy. In case the policyholder does not renew the policy within the seemliness period, the insurance company cancels the policy policy .

Installing Anti-theft Device

If the policyholder has installed any anti-theft device in the car then the insurance company will provide a 5 % dismiss on the annual premium rates. The discount on car policy premiums is provided to those who install the anti-theft device that is certified by the Automotive Research Association of India ( ARAI ) .

Try Not to Modify Your Car

Some of the car enthusiasts who have a thing for modifying their cars and make it look cooler than it is. They install new alloy wheels, woofers, headlamps, etc. This becomes one of the major reasons behind the increase of the agio rate of a car insurance policy .

Transportation Cost Is Saved

To reach the insurance company ’ s agency a person either goes by populace tape drive or by their fomite. Both convert costs a certain sum of money. This outgo can be saved if the car owner chooses to purchase the policy on-line .

Factors that Determine Car Insurance Premium Value

top Variables that play an essential character in deciding car indemnity premium rate are :

  • Age and Gender – Individuals below 25 years of age are perceived by the insurance company to be more likely involved in accidents and hence individuals in the age bracket of 18 – 25 have to shell out a higher premium.
  • Car Make, Model and Variant – For obvious reasons, high-end cars like Audi and Bentley are insured at a higher price than a budget car like Alto and Santro. On similar grounds, SUVs are insured at a higher premium than a family cars.
  • Place for which you Need the Insurance – Since the traffic density is higher in the urban areas, cars are insured at a slightly higher premium in the urban areas compared to the sub-urban areas.
  • Fuel Type – Compared to a plain petrol/diesel car, you’ll have to pay a higher premium for insuring a CNG-fitted car.
  • Year of Manufacture – The older your car, the lesser is its Insured Declared Value (IDV) and the lesser the IDV, the lesser is the premium.
  • Discounts – Certain professionals such as defense personnel, doctors and govt. employees are entitled to get an additional discount on their premium.
  • Voluntary Access – Voluntary access is the minimum amount that you declare to bear at the time of claim. The higher deductible you opt for, the lower will be your premium.
  • Anti-theft Discount – You are entitled to get 2.5% off on the premium, if your car is fitted with an ARAI-approved anti-theft device.
  • No Claim Bonus – No Claim Bonus is offered to the insured for every claim-free year. It is a cumulative discount and varies from 10% to 50%. NCB can be transferred to another car or policy.

Car Insurance Fines

Details Required for Calculating Insurance Premium for your Car 

One can use an on-line car indemnity premium calculator without any aid in a simple and straightforward manner. Car insurance quotes from top vehicle policy providers will be provided depending on the inputs provided .
Following details need to be filled in car indemnity calculator online-

  • Car Registration Number
  • RTO
  • Car Registration Year
  • Car Variant
  • Manufacturer
  • Fuel type and so on

Below is the third party car indemnity premium rates effect from June released by IRDA, 16 June 2019 :

Engine Capacity Premium Effective June 16, 2019 (Rs.)
Less than 1000 CC 2,072
More than 1000 CC & less than 1500 CC 3,221
More than 1500 CC 7,890

How Do You Calculate the Car Insurance Premium for New and Old Cars?

The adopt information needs to be provided while calculating car indemnity premiums online for old and raw cars with an insurance calculator –
CI Renewal CI Renewal

How to Calculate Insurance for New Car?

The new car policy price depends on the type of plan that you are buying. If you opt for a comprehensive policy, the modern car policy cost will consist of two parts – third-party agio and own wrong ( OD ) premium. The third-party bounty for all cars is decided by the IRDA. however, the own wrong premium is calculated with the help of the following formula :
OD Premium of a new car = Insured Declared Value ( IDV ) of the newly car ten insurance company rate of premium + accessory covers – discount
Besides using the formula to calculate the new car indemnity price, one can use a car indemnity agio calculator to determine the premium of your newly car .
Details required for insurance calculated for a new car:

  • Car details and the name of the car manufacturer
  • Make and model of the car
  • Type of the car
  • Date and the state of registration
  • City & RTO
  • Fuel type
  • The year of manufacture

How to Calculate Insurance for Old and Used Cars?

  • Type of the car
  • Fuel type – CNG, Diesel or Petrol
  • Claim history
  • Depreciation value
  • Details of the last policy
  • For second-hand cars, details of the owner are required

Car Insurance Calculator FAQs

  • Q. Is car insurance higher on a new car?

    Ans: Yes. Mostly, the new car insurance cost is higher than the premium for old cars. This is because a car loses its value with age due to depreciation and its IDV reduces. With lower IDV, the premium of a car also gets lower. But the IDV of a car is the highest when it is new and thus, it costs more to insure it.
    Yes. largely, the newfangled car policy cost is higher than the premium for old cars. This is because a cable car loses its respect with long time due to depreciation and its IDV reduces. With lower IDV, the agio of a car besides gets lower. But the IDV of a car is the highest when it is modern and therefore, it costs more to insure it. however, the premium of a car depends on several factors apart from the IDV, such as make & model of the car, addition covers, no claim bonus, locomotive capacity of the car, etc. therefore, it is advisable to use a vehicle indemnity calculator to estimate the new car policy price .

  • Q. Which insurance is best for new car?

    Ans: If you have bought a new car, it is best to buy a comprehensive cable car policy policy for the vehicle. This is because it lone covers your brand-new car against third party liabilities but besides covers any loss or damages caused to the car, unlike third gear party car insurance. In fact, new cars are more prone to larceny as they easily catch the eyes of miscreants. Hence, you must opt for a comprehensive policy cover for your new car. You can use a new car indemnity calculator to know the premiums for different plans. You must choose a policy that provides maximum benefits at an low-cost modern car policy cost .

  • Q. How long do you have to get insurance on a new car?

    Ans: When you buy a newly car, you need to compulsorily buy third party policy for a period of three years. This is because the IRDA or the Insurance Regulatory & Development Authority of India had made it mandate for all new cars owners to buy third party indemnity for a period of three years. however, the decisiveness to buy a comprehensive examination or standalone own damage car insurance policy for own damage cover is up to you. In case you want to buy own wrong cover, you can check the new car insurance price offered by different insurers with the assistant of a vehicle policy calculator .

  • Q. I want to obtain an insurance quote for my car, where can I find car insurance premium calculator?

    Ans: You can easily find a cable car insurance premium calculator here or on the official web site of your favored insurance company. All you need is filling in some basic insurance information like your name, mobile phone number, address, vehicle model number, fomite fabrication ‘s appoint, manufacturing year, fuel type, registration details etc. After filling up the chastise details, click on the render premium button and you will get your quote .

  • Q. What are the factors that affect the car insurance premium?

    Ans: Factors like Insured Declared Value of the car, long time, and type of the automobile, engine ‘s cubic capacity, geographic localization etc. dominate the calculation of the bounty of your car indemnity .

  • Q. What are the tips to reduce car insurance premium?

    Ans: There are thus many ways that can help you to reduce your cable car insurance premium. You can do thus by becoming a penis of the Automobile Association of India, by installing anti-theft equipment in your car, etc. Before your car policy policy is issued, make indisputable the IDV of your car is computed correctly. It would not only assure that you ‘re paying the right premium but besides would guarantee a commodious call free procedure besides. Buy your vehicle carefully on the basis of your needs. SUV in lawsuit you do n’t commute less than 50 kilometers per calendar month. Keep in mind that the showroom cost and the Cubic Capacity of your vehicle add on to your premium measure. Do n’t opt for any addition embrace that is n’t required. The reason behind that is it will enhance your premium .

  • Q. Can I use car insurance premium calculator at the time of insurance renewal?

    Ans: If you use cable car policy reclamation premium calculator at the time of buying indemnity, you ‘re well mindful of the facilitate of using the calculator joyride. If you have n’t, you can use car indemnity refilling premium calculator on-line and get the premium details at time of renewal of your insurance policy. It ‘s easy, convenient, and elementary .

  • Q. What is the importance of car insurance renewal premium calculator?

    Ans: It is a significant joyride to determine the car policy premium in a commodious manner. potential policy buyers can get policy quotes in a matter of a few clicks and they can pick the plan that fits their budget and fulfills their insurance needs .

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