Car Insurance Calculator

A car insurance calculator is an online tool that allows you to calculate a customised premium amount for your car insurance policy. All you need to do is enter details like your car's make, model, variant, RTO location, purchase year, etc. and the premium amount will get calculated. A car insurance premium calculator helps you know the actual premium which you should pay for getting a car insurance policy from different insurance companies. This helps you in comparing the available car insurance quotes easily and make the right decision.

A car insurance premium calculator is a reliable and valuable tool as it helps you to find the most suitable car insurance policy based on the shared specific details. It helps you save your time by providing accurate details instantly and to make the right decision with ease.

Benefits of Car Insurance Calculator

A car insurance calculator is a very helpful online tool that helps you to calculate and figure out the insurance premium cost for your car/vehicle. It instantly calculates the premium amount considering details such as car's make, model, RTO details, Insured Declared Value (IDV), etc.

  • Using a car insurance calculator helps save time. It instantly tells the premium amount for your car offered by various insurance providers available in the market.
  • It compares the premium rates as well as other variables offered by multiple insurers and helps you choose the policy best suitable for your needs and demands.
  • It offers you flexibility as there is no rush to make a decision and no external influence of an agent which may affect your choice.
  • It can help you select the right add-on covers for your car insurance which are suitable based on your budget and requirements.
  • It allows you to adjust different factors like deductible, IDV, etc., which affect your premium. With this premium calculator, you can try variables till you get a perfect combination for you.

How is Car Insurance Premium Calculated?

You can easily calculate car insurance premium with the help of the InsuranceBox car insurance premium calculator. The premium of a car insurance plan depends on the coverage of the plan and other factors such as car's make, model, variant, fuel type, RTO location, etc. The premium for third party car insurance plans is fixed by the IRDAI and it depends only on the car's engine capacity, whereas the premium for standalone own-damage & comprehensive car insurance plans is determined by the insurance companies and varies from the policyholder to policyholder.

Let's understand the premium price calculation for vehicle/car insurance better with an example.

For example, Mr. A wants to purchase a car insurance policy for his Hyundai i10 Asta which has the following details:

  1. Engine Capacity: 1197 cc
  2. Fuel Type: Petrol
  3. Registration City and Year: Noida and 2018
  4. NCB: 20%
  5. Policy Tenure: 1 Year

At InsuranceBox Mr. A can find the following premium quotes for his car/vehicle bearing the above-mentioned details:

Car Insurance Plan

Premium Amount

Third-Party Plan

Rs. 3,221

Standalone Own-Damage Plan

Rs. 2,966

Comprehensive Plan

Rs. 6,187

(Premium Rates As On August 2021)

How to Use Car Insurance Premium Calculator Online?

Every insurance provider has its own method of calculating the car insurance premium amount.

However, there are two major divisions namely, the premium calculation for used cars and the premium calculation for new cars. You will be required to enter certain essential details in order to calculate the premium for your car insurance.

Here are the steps to get the insurance premium through the vehicle/car insurance premium calculator:

  • Select the brand, model, variant and fuel type of your car
  • Select the registered location of your car correctly
  • Select the year in which you purchased your car
  • Select ‘Yes' or ‘No' to confirm if you made any claim in the previous year
  • After this, you will have to enter your name and mobile number. You will get an OTP on the mobile number, entering which will get you the policy premium quotes for the car insurance.

How Do You Online Calculate Insurance Premium for Used Cars?

Essential vehicle details required for calculating the premium online for used/old vehicle:

  • Make, model, a variant of the vehicle
  • Fuel type
  • Existing car insurance policy details (if any)
  • State and city of car registration
  • No Claim Bonus (NCB) or previous claim file reports and details (if any)

The car insurance premium calculator will then estimate the premium amount based on the details provided so that you opt for the ideal car insurance policy.

How Is Online Insurance Premium Calculated On A New Car?

Vehicle details required for calculating the premium for new cars:

  • Car Manufacturer
  • Year of manufacture
  • Model of the car
  • Variant of car
  • Car's registration state and city

The car insurance premium calculator will estimate the premium amount that you need to pay for your car insurance policy for your vehicle.

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FAQ about Car Insurance Calculator

A car insurance premium calculator is simply an online tool that helps the policy buyer to get a policy quote from different insurance provider along with the amount of premium they are required to pay. You can use a car insurance premium calculator for free of cost at the InsuranceBoxwebsite, which is one of the best premium calculators available online.

The model of the car is considered to be one of the important factors while calculating the premium paid towards car insurance cover. Premium paid against third party is based upon the engine cc of your car, and the make model also decides the Insured Declared Value (IDV) or make value of your car. A higher IDV results in an increased premium cost.

To calculate the premium for your car insurance plan, simply go to InsuranceBox official website. Choose the brand of your car, its registered location and purchase year. Once you enter all the required details, the premium quote will appear on your screen.

The premium calculator allows you to choose the coverage, change the Insured Declared Value, include NCB and various add-on covers and depending upon the other details entered by you, it helps you in knowing the premium that you are required to pay towards your insurance company. It helps you in making a wise decision and well-informed choice prior to purchasing a good car insurance plan.

The advantages of using a car insurance premium calculator are as follows:

  • The whole process of insurance buying online is made simpler and convenient for the policy proposers.
  • It helps in drawing comparison between different premium rates and thereafter choosing the optimum insurance plan based upon your requirements and budget.
  • Now, you are no longer required to make decisions in haste and get manipulated at the hands of some insurance agents.

A car or motor insurance premium is the amount of cost that you pay to your respective motor insurance provider in order to enjoy the coverage and benefits of a car insurance plan. The premium towards your car insurance plan can be paid on a monthly basis, yearly basis or even half yearly basis depending upon the payment options extended by your respective insurance company.

You can simply visit InsuranceBox website in order to calculate premium payable towards your second hand or used car. Thereafter, you need to provide information like car make, car model, car variant, type of fuel, details regarding current car insurance policy, etc. Once you enter all the required information, your insurance premium will get displayed to you.

The factors affecting car insurance premium include Insured declared value of your car, vehicle type, model, make, engine's cubic capacity, geographical location, etc.

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