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.
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.
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:
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)
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:
Essential vehicle details required for calculating the premium online for used/old vehicle:
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.
Vehicle details required for calculating the premium for new cars:
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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