Navi Car Insurance Premium Calculator

A car insurance premium calculator is a digital tool that helps you find the right premium for your Navi car insurance policy. You need to enter some required details about your car like the make of the car, model of the car, variant of the car, registration year of car, RTO location of the car, etc., on the premium calculator. This will show you the car insurance premium for the selected plan by different insurance companies in the market. Comparing the premium amount of several insurers will help you find the best car insurance plan that meets your budget and requirements.

How to Use a Car Insurance Premium Calculator?

It is simple to compute the car insurance premium by using a premium calculator. Here are some steps to calculate it:

Step 1: Enter the Make, Model, Variant and Fuel Type of your car.

Step 2: Enter the RTO Location and Year of Purchase of your car.

Step 3: Tell us, if you have made any claim in your last policy term.

Step 4: Click on the ‘Calculate’ link and you will get the right IDV and premium value for your car insurance.

When it comes to car insurance premium calculator, it brings several benefits with it which are as follow:

• Right Insured Declared Value (IDV) – You can get the correct value of your IDV with the car insurance premium calculator by filling up the make, model, fuel type, car age, etc. With the value of IDV, you can select an optimum level of the claim amount that you will be eligible to receive from your insurer in case your car gets stolen or suffered a total loss.
• Correct Cost of Premium - To compute the right premium amount for your car insurance is the core objective of the premium calculator. By showing you accurate premium costs of several car insurance plans, it helps you opt for a car insurance policy for your car’s safety based on your budget as well as needs.
• Better Your Decision Making – The premium calculator helps you to be informed about the current and correct market value of your car and the rate of premium provided by different insurance firms in the market. With the knowledge of the IDV and the premium amount of different car insurance policies, you can make the right choice to pick the car insurance policy.
• To Get a Cost-Effective Policy – With the amount of premium and IDV of different car insurance policies calculated by the premium calculator, it will become quite easier for you to opt for a cost-effective car insurance plan to secure your car. In simple terms, the premium calculator tool will help you opt for an economical car insurance plan.

Third Party Car Insurance Premium Rate

Source: Insurance Regulatory and Development Authority of India (IRDAI))

Premium for Comprehensive and Standalone Own-Damage Car Insurance Plans

The premium amount of standalone own-damage and comprehensive car insurance plans is based on several components which comprise the make of the car, model of the car, variant of the car, fuel type of the car, RTO location of the car, etc. You can get the premium amount for your car insurance by entering the required details about your car with the assistance of the premium calculator.

Factors Which Determine Car Insurance Premium

Here are some elements which impact the amount of premium for car insurance:

• Insured Declared Value (IDV): The IDV is the highest amount that policyholders can get as a claim from their insurance companies if their car sustains accidental damage or theft. The value of IDV is determined by the insurance companies based on the make, model, and variant of the car. The higher your car’s IDV will be, the higher will be the premium cost that you will have to pay for the car insurance policy.
• Engine’s Cubic Capacity: The cubic capacity of your car influences the premium amount of your car insurance. The higher will be the cubic capacity of your car, the more consumables will tend to be utilised by the car due to which you are required to pay a higher amount of premium if your car holds a higher cubic capacity and vice versa.
• Add-On Covers Opted: Add-on covers are the policy options which are designed to provide you with extended coverage on your car insurance policy. You can purchase add-on covers such as zero depreciation cover, roadside assistance cover, and so on, by paying a little extra premium amount to enhance the coverage of your car insurance policy.
• Anti-Theft Devices: With the installation of anti-theft devices in your car, you can reduce the possibility of your car getting stolen that reduces the burden to cover the loss on the insurance company. Therefore, if you install some anti-theft devices in your car, which are ARAI approved, then you may be charged a lesser premium by your insurance company.
• No Claim Bonus (NCB): No Claim Bonus (NCB) is an important element that affects the premium of your car insurance policy. The NCB is a reward that insurance companies offer to their policyholders for making no claim in a policy year. This benefit is available in terms of percentage discount which ranges from 20% and 50% and is applicable on car insurance premiums which policyholders have to pay in the next year.