Car Insurance Calculator
Get Car Insurance Premium Instantly
Get Car Insurance Premium Instantly
A car insurance premium calculator is an online tool that provides you with an estimated premium amount for your car insurance policy. Based on details such as the make and model of your vehicle, the year of purchase, model variant, IDV, and so on, the car insurance calculator helps you in finding a policy that suits your budget.
A car insurance calculator is an extremely helpful tool. You can use it to get instant quotes on your car insurance policy. All you have to do is provide the calculator with some simple details about your vehicle & your coverage needs.
Based on these details, the car insurance calculator will tell you the cost of your plan. Our car insurance calculator will provide you instant quotes on third party insurance, comprehensive insurance & zero-depreciation insurance, all at once!
Using a car insurance calculator is extremely important. It will provide you with all the vital information required to make an informed purchase decision. Here are some reasons why you should use online car insurance calculator before buying a motor insurance policy for your vehicle.
Price points
This is one of the most important reasons why you should use a car insurance calculator. It will tell you how much your premium amount will be based on the specifications of your car and the coverage you have selected.
Mix and match
An online car insurance calculator allows you to adjust numerous factors that affect the premium of your policy. These include IDV, the voluntary deductible, etc. You can try different variables until you find a combination that matches your coverage and fits your budget.
Find the right add-ons
A car insurance calculator can help you choose the right add-ons. You can select the add-ons you think are suitable and the calculator will adjust the price based on your choices. You can then try different add-ons to find a price point and coverage level that’s suitable for you.
Get quotes for old & new cars
Our car insurance calculator works for old cars and new cars, both. You don’t have to look for a separate car insurance calculator for new cars or a different car insurance calculator for old cars.
Car insurance calculators are designed to be user-friendly. They have a simple process that’s easy to understand and extremely straightforward. To make things even easier, we have highlighted a step-by-step guide on how to use our online car insurance calculator. It will help you get instant car insurance quotes with complete ease!
The first step in using the car insurance premium calculator is to provide us with the registration number of your car and mobile number. Fill in these basic details and click on the ‘get a quote’ button.
Here you need to enter the RTO under which your car is registered, date of registration, and production year. Once this is done, click the ‘continue’ button on the premium calculator page.
Then, you need to select the brand of your car. Once you do this, the car insurance calculator will automatically proceed to the next step.
Next, the car insurance calculator will prompt some of the common models under the brand chosen by you. After finding the car model, click on it to proceed. You can even use the search bar to find the model.
The car insurance calculator will then ask you to choose the default kind of fuel that your car uses – petrol or diesel.
Next, you have to choose the variant of your car. The car insurance calculator will provide you with options to choose from and a search bar where you can manually enter the variant of your car.
1. Do you have a claim on your existing plan? If yes, then the second question will not apply.
2. Are you eligible for a ‘No Claim Bonus? If yes, enter the NCB amount applicable in the premium calculator.
You can include add-ons, voluntary deductible, CNG cover, etc. to get a suitable quote. The insurance premium calculator will display premiums for third-party, comprehensive & zero-depreciation plans.
A car insurance premium calculator will provide you with an estimated premium amount for a variety of car insurance policies.
Third Party Insurance:
This is a basic form of car insurance providing the minimum amount of coverage required to legally drive your car on Indian roads. Third-party insurance offers coverage for damages and injuries caused to other motorists and/or pedestrians involved in an accident you are part of. Essentially, it takes care of several third-party liabilities that occur as a result of an accident.
Comprehensive Plans:
As the name suggests, these plans offer comprehensive and all-around protection. They provide both own-damage and third-party coverage. With these plans, you enjoy financial cover from:
Since these plans offer more protection than third party plans, they also cost comparatively more.
For estimating the premium of a comprehensive car insurance policy, the car insurance premium calculator will consider factors such as the age of your car, the add-ons you have opted for, the deductibles, geographical location, the cost of your car, and so on.
Comprehensive Insurance with Zero-Depreciation Cover
Standard comprehensive insurance provides compensation based on the depreciated value of your car and its parts. Therefore, when you make a claim, it will not provide the entire cost for part replacements. You will have to cover the depreciation quotient out of your pocket.
This can lead to significant out-of-pocket expenses as after 5 years your car and its parts could depreciate by as much as 50%. In that case, you could end up paying for 50% of the repair costs on your own.
To safeguard yourself from this, you can opt for comprehensive insurance with zero-deprecation cover. This type of plan will offer full compensation, even when your car gets depreciated over time. This ensures your out-of-pocket expenses stay at a minimum. Of course, such coverage comes at a cost and these plans are generally a little more expensive than a normal comprehensive insurance policy.
The biggest factor considered by a car insurance premium calculator in figuring the premium of a zero-dep comprehensive policy is the age of the car.
Long-Term Plans:
You can also purchase long-term third party car insurance. These plans offer up to 3 years of cover at one consolidated, up-front premium amount. This ensures that you are protected from any price hikes on third party premiums during the tenure of the plan.
Long-term third party insurance can also be bundled with a single year of own damage cover to provide comprehensive protection for your vehicle. Of course, the own damage cover would have to be renewed every year for continued protection.
A car insurance premium calculator will provide you with an estimated premium amount for a variety of car insurance policies.
Third Party Insurance:
This is a basic form of car insurance providing the minimum amount of coverage required to legally drive your car on Indian roads. Third-party insurance offers coverage for damages and injuries caused to other motorists and/or pedestrians involved in an accident you are part of. Essentially, it takes care of several third-party liabilities that occur as a result of an accident.
Comprehensive Plans:
As the name suggests, these plans offer comprehensive and all-around protection. They provide both own-damage and third-party coverage. With these plans, you enjoy financial cover from:
Since these plans offer more protection than third party plans, they also cost comparatively more.
For estimating the premium of a comprehensive car insurance policy, the car insurance premium calculator will consider factors such as the age of your car, the add-ons you have opted for, the deductibles, geographical location, the cost of your car, and so on.
Comprehensive Insurance with Zero-Depreciation Cover
Standard comprehensive insurance provides compensation based on the depreciated value of your car and its parts. Therefore, when you make a claim, it will not provide the entire cost for part replacements. You will have to cover the depreciation quotient out of your pocket.
This can lead to significant out-of-pocket expenses as after 5 years your car and its parts could depreciate by as much as 50%. In that case, you could end up paying for 50% of the repair costs on your own.
To safeguard yourself from this, you can opt for comprehensive insurance with zero-deprecation cover. This type of plan will offer full compensation, even when your car gets depreciated over time. This ensures your out-of-pocket expenses stay at a minimum. Of course, such coverage comes at a cost and these plans are generally a little more expensive than a normal comprehensive insurance policy.
The biggest factor considered by a car insurance premium calculator in figuring the premium of a zero-dep comprehensive policy is the age of the car.
Long-Term Plans:
You can also purchase long-term third party car insurance. These plans offer up to 3 years of cover at one consolidated, up-front premium amount. This ensures that you are protected from any price hikes on third party premiums during the tenure of the plan.
Long-term third party insurance can also be bundled with a single year of own damage cover to provide comprehensive protection for your vehicle. Of course, the own damage cover would have to be renewed every year for continued protection.
Our online car insurance calculator will provide you with an instant quote for third party insurance. However, if you are wondering what factors determine the cost of third party insurance, the following table should help you.
Third-party insurance premiums are calculated based on the cubic capacity of your car’s engine. Here are the premium slabs for the various categories of engine capacities with effect from June, 2019.
Third-party car insurance premium rates in India:
| Cubic Capacity (cc) | Premium Amounts |
|---|---|
| Not exceeding 1000cc | Rs. 2,072 |
| Exceeding 1000cc but less than 1500cc | Rs. 3,221 |
| Exceeding 1500cc | Rs. 7,890 |
While third party car insurance premiums depend solely on the cubic capacity of your car, the cost of comprehensive insurance depends on several other factors. Some of these factors considered include:
Where You Live
Metro cities have more cars & densely congested roads. This increases the chance of an accident. Therefore, car insurance premiums are generally higher in metro cities as compared to Tier-II & Tier-III towns.
The Cost Of Your Car
It’s simple – costlier cars have a higher premium. This is because the insurance company will be liable to large payouts in case of total loss or replacement of parts.
Age Of The Vehicle
As the car gets older, its value decreases. The insurer is liable to lower payouts in case of total loss or replacement of parts. The premium will also decrease as the car gets older.
Add-ons You Choose
Every add-on has its own cost. Therefore, the number of add-ons you choose will affect the cost of your insurance policy. You can use our online car insurance calculator to determine the effect each add-on has on the premium of your plan.
Deductible Of The Plan
Deductible is the amount you pay towards the total repair costs before the insurer covers rest of the costs. You can opt for a higher deductible to get lower premiums. Use our premium calculator to adjust the voluntary deductible for your convenience.
Used a car insurance calculator online and found the premiums too high? Well, there are some smart tips you can use to lower the premium of your plan. We have listed some of them below:
We have over 2 crore happy customers and close to 20 years of experience in the insurance industry. When it comes to car insurance, we have settled more than 8 lakh claims in FY19 with a claim settlement ratio of 92.65%.
Our car insurance plans are designed to make things as easy as possible for you. You can buy a plan online and make a claim through your phone. We provide compensation up to Rs. 50,000 transferred directly to your account within a few minutes through our Quick Claim Settlement App. We have even been awarded as the 2019 IDC Digital Transformer in India for AI-based claim assessment of damaged vehicles.
Our pan India presence ensures that our policies can be brought from more than 20,000 agents and branches across the country. We also have more than 4300 garages evenly spread across the country with cashless services and prompt roadside assistance in case of a breakdown. With IFFCO-Tokio, you get complete protection, wherever the road might take you.
If you are using a car insurance premium calculator for the first time or are new to the car insurance field in general, it would be helpful to have a good understanding of the terms you will come across often. So, here are the car insurance terms you need to know before using a car insurance calculator.
Own Damage
Own damage (OD) is the component of a comprehensive insurance policy that covers the damage caused to your vehicle in an accident or due to unfortunate events like fire, theft, etc.
With our online car insurance calculator, you can opt for ‘own damage only’ coverage. This would mean excluding third party insurance from your policy. This is usually done in case you already have third-party cover and you just want coverage for your vehicle.
Voluntary Deductible
In case of a claim, you need to pay a tiny fraction of the costs before your insurance plan steps in and covers the rest. This amount that you pay is known as the deductible of your plan. There are two kinds of deductible, compulsory and voluntary.
Every plan has a fixed amount of compulsory deductible. However, you can opt to pay a certain amount on top of the compulsory deductible in order to enjoy lower premiums. You can check what effect of a higher voluntary deductible can have on your premium through our online car insurance calculator.
IDV
IDV stands for Insurer Declared Value. It is the maximum compensation your insurance provider will offer in case of total loss of your vehicle due to an accident or any other unfortunate event. Generally speaking, the higher your IDV, the higher your car insurance premium is.
However, with our online car insurance calculator, you can increase or decrease the IDV of your car to avail of higher or lower premium amounts. In this case, opting for an extremely low IDV can seem tempting, but remember that, in case of a total loss, you will get compensation equal to your IDV.
No Claim Bonus
The online car insurance premium calculator will ask you whether you have made any claims on your existing plan or not. If you have not made any, then the NCB kicks into place. The NCB is a discount you receive for not making a claim against your car insurance policy. The longer you go without making a claim, the higher your NCB. The maximum NCB you can receive is 50%.
If you already have an existing NCB, you can factor that into our car insurance calculator and it will provide instant quotes with lower premium amounts.
Our online insurance calculator will ask you for the default fuel required by your car – this is to calculate the base premium of your car. When you receive our recommendation of plans, you can click on the ‘Add-on + CNG Cover’ option to factor in the CNG kit to your quotation. Just change the ‘Is Your Vehicle driven by CNG/LPG?’ to ‘Yes’. Then you can also choose between ‘Yes’ & ‘No’ on the ‘Is CNG/LPG company fitted’? And finally, you will have to enter the value of your CNG kit. Then just click on the ‘continue’ button and the quotation will be updated.
No, to make things convenient for you, we have one calculator that provides quotes for old and new cars. You do not have to go looking for a specific car insurance calculator for new cars or old cars. We believe insurance protection shouldn’t depend on whether your car is old or new, but rather on what your coverage needs are.
Yes, place of residence does play a role in deciding your insurance premium. That’s why the second step of our car insurance calculator will ask you for the RTO under which your car is registered. If you live in a metro city, you might receive a higher premium amount.
This is because metro cities have congested roads and many more vehicles than Tier-I &II towns. Therefore there is a higher risk of accidents. Since the basic concept of car insurance is based on risk-sharing, your car insurance could be higher based on where you reside.
Simple, all you have to do is click on the ‘choose’ option under the quotation you wish to proceed with. You will be redirected to another page where you will fill in some simple details such as your engine number, chassis number, previous car insurance policy number, previous insurer, etc. Once you enter these details, click on the ‘Continue to Owner Details’ button.
Here you will have to enter all your personal details. Once you’re done with that, you can simply make the payment and the policy document will be sent to you via email. Simple, isn’t it?
Yes, our car insurance calculator will provide you with a unique code ID when you reach the final stage, i.e. the plan recommendations. You need to copy this code. If you wish to retrieve this code, all you have to do is type hit the ‘Retrieve Quote’ under the ‘Get a Quote’ forms. This ensures you do not have to re-enter all the details if you wish to view your quote once again.
