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Car Insurance Calculator - Calculate Car Insurance Premiums Online

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.

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Select your car brand

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  • Honda
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Which city is your car registered in?

  • Ahmedabad
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When did you buy your car?

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Written by Siddharth Malik

Updated Feb 08, 2024

Reviewed by
Anurag Kuma.
More Info
Wish

Anurag Kumar

Reviewer of Insurance Agency

Anurag Kumar is a dynamic strategic partnerships leader in the InsurTech domain, specializing in dri...

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What is a Car Insurance Premium Calculator?

A car insurance premium calculator helps you know the actual premium which you should pay for getting a car insurance policy from different car insurance companies. This helps you in comparing the available car insurance quotes easily and make the right decision.

Factors

Registration year

Car Insurance with NCB

Ex showroom rate

Rs. 8, 50,000


Depreciation

Rs. 3, 20,000

40%

Insured declared value

Rs. 330315


Own damage premium

Rs. 5214


Third party premium

Rs. 3416


No claim bonus discount

20%%


Net premium

Rs. 9110


GST

Rs. 1640

18%

Before even driving your newly purchased vehicle out of the dealership, obtaining insurance coverage is essential. This involves purchasing a new car insurance policy from an insurance provider. Therefore, when considering purchasing a new car, it is wise to allocate some time to determine the appropriate insurance policy.

Numerous car insurance providers are present in today's market, each offering appealing benefits. However, sifting through the array of plans, evaluating their advantages and characteristics, and ultimately choosing the most suitable option can be a daunting task. This is where a premium calculator for car insurance can be extremely useful.

Features & Benefits of Car Insurance Premium Calculator

A dynamic and efficient tool, the premium calculator has gained widespread popularity due to its advantages. Let's explore the benefits of utilising a Car Insurance Premium Calculator:

  • Estimate of Costs: The calculator provides a reasonable approximation of the premium associated with a specific car insurance policy.
  • Budget-Friendly Planning: Devising a plan within your financial constraints becomes effortlessly achievable through the vehicle insurance premium calculator. You have the flexibility to tailor various factors to create a customised plan.
  • Simplified Comparison: You have the ability to contrast numerous plans from different companies, facilitating the selection of the optimal plan for your needs.
  • Informed Add-On Selection: By employing the calculator, you can opt for car insurance add-ons while keeping the premium in mind. This allows you to modify the cost according to the supplementary benefits.
  • Suitable for All Vehicles: Whether it's an older or a new vehicle, the vehicle insurance premium calculator accommodates all types of cars.
  • Time Savings: The premium calculator rapidly calculates an approximate premium for your car insurance plan, effectively saving you a significant amount of time.

How is Car Insurance Premium Calculated?

You can easily calculate car insurance premium with the help of the InsuranceDekho car insurance online 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 InsuranceDekho, 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 2023)

How to Use a Car Insurance Calculator Online?

Be it a third-party car insurance premium calculator or a comprehensive insurance premium calculator, they are designed with user-friendly interfaces, ensuring a straightforward usage process. To further simplify the process, here are the steps to follow when utilising the Car Insurance Premium Calculator:

Step 1 - Personal Information:

Upon accessing the car insurance premium calculator webpage, provide your contact information, including email address and mobile number.

Step 2 - Vehicle Registration:

Enter the registration specifics, including the registration date and the year of manufacture.

Step 3 - Make, Model, and Variant (MMV):

Input the make, model, and variant details of your car.

Step 4 - Fuel Type:

Choose the fuel type of your vehicle, indicating whether it is petrol or diesel.

Step 5 - Claims History:

Indicate whether you have made a claim previously or are eligible for a No Claim Bonus, and provide the associated details.

Step 6 - Plan Selection and Add-ons:

Select the type of insurance plan you want, be it third-party car insurance, Comprehensive Insurance, or a zero-depreciation car insurance policy. If you opt for a Comprehensive Insurance Plan, you can also include additional add-ons.

With all the information provided, the new car insurance calculator will proceed to calculate the premium and present the result.

How To Calculate Car Insurance Premium for Used Cars?

Essential vehicle details required for calculating the insurance price 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 insurance premium calculator for car will then estimate the premium amount based on the details provided so that you opt for the ideal car insurance policy.

How To Calculate Car Insurance Premium On A New Car in India?

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

Factor Which Determine Car Insurance Premium Calculation

Here are some crucial factors which determine the calculation of premium amount for car insurance:

  • Vehicle owner's age: According to track records, insurers consider that vehicle-owners below the age of 25 years are more likely to be involved in a mishap or road accident. This is why individuals aged between 18-25 years tend to pay a higher premium value for coverage than others.
  • The fuel type required to run the vehicle: The premium for CNG (Compressed Natural Gas) fitted vehicles is higher than the premium charged for coverage of regular petrol/diesel run vehicles.
  • Geographical location: Insurance providers also rate the premium according to the place where the insured car will be mostly driven. For instance, areas with a higher traffic density such as urban cities will be charged higher premium rates than rural locations or areas which have lower risks and traffic density.
  • Insured Declared Value (IDV): Insured Declared Value is the maximum amount that an insurer pays to a policyholder in case of total loss or theft of the vehicle. The IDV depends on the brand, manufacturer's selling price, a model of the vehicle, RTO details, etc. It affects the own damage premium of the insurance policy.
  • Cubic Capacity: The car's Cubic capacity also helps determine the premium for the Own Damage cover. Car's make, model and variant also affect the premium of your car's insurance coverage.
  • Car's manufacturing year: Older cars have lower IDV values which indicate that the premium for the vehicle will be comparatively lesser than new vehicles with relatively higher IDV values.
  • No claim bonus (NCB): No claim bonus is a discount on the premium for Own damage cover when no claim was filed during the tenure of the chosen policy. This is provided to you for the number of years who did not make a car insurance claim.
  • ARAI Anti-theft discount: Vehicles that have ARAI (Automotive Research Association of India) approved anti-theft devices fitted are entitled to get 2.5% off on the premium rates.

How To Reduce Car Insurance Premium Price?

Here are some ways which can help you reduce your vehicle/car insurance premium:

1. Avoid Making Small Claims

The simplest way to lower your insurance premium is to earn No Claim Bonus (NCB) by not making any claim in a policy year. To make this happen, you should not make claims for small damages and pay them from your pocket. Also, you need to drive responsibly to avoid any accidents.

2. Purchase Car Insurance Online

Online policy purchase brings a lot of difference in comparison to buying a plan through offline mode. Comparing policy quotes online can help policyholders find an affordable plan easily. Also, insurance companies offer policies at economical prices online due to the absence of any agent, etc.

3. Install Anti-Theft Devices in Car

Installation of anti-theft devices not only ensures security to your car from theft, etc., but can reduce the yearly insurance premium by around 5 percent. However, different insurers offer discounts only on anti-theft devices certified by the Automotive Research Association of India (ARAI).

4. Renew Your Policy On Time

With timely car insurance renewal, you can avoid a lapse in the plan which will ultimately save you from getting your car reinspected. It will allow you to avail the policy at the old rate and avoid the hike in premium.

5. NCB Transfer to the New Car

You should transfer the NCB earned by you to your new car insurance policy. You can do so as the NCB is offered to the policyholder and not the car. Hence, it is prudent to retain the NCB benefit with you as it help you reduce your car insurance premium rate with the new car insurance policy.

6. Increase the Voluntary Deductible

A voluntary deductible involves contributing a certain amount toward repairs when filing a claim. Opting for a higher deductible can translate to a reduced premium. Utilising a car insurance premium calculator allows you to manage the deductible proportion, keeping the premium well within your budget.

7. Anti-Theft and Safety Devices Can Help Too

Incorporating anti-theft devices not only shields your car from theft but also lowers the insurance premium. Safety features such as airbags, ABS, EBD, and more not only enhance your car's security but also positively influence the insurance company's perspective.

In a world where financial planning is key, the car insurance calculator emerges as an essential tool. It empowers us with the ability to make informed decisions, ensuring that our vehicles are safeguarded without breaking the bank. By effortlessly estimating premiums and comparing quotes, you're taking a proactive step towards smart financial management and comprehensive coverage. The car insurance calculator is your partner in securing a smoother road ahead.

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Wish

Written by Siddharth Malik

Siddharth is a versatile business strategist with approximately 11 years of extensive experience across startups and consulting, specializing in creating transformative solutions in Insurance, Healthcare Infrastructure, and Retail sectors. His unique ability to navigRead More

Reviewed by
Anurag Kuma.
More Info
Wish

Anurag Kumar

Reviewer of Insurance Agency

Anurag Kumar is a dynamic strategic partnerships leader in the InsurTech domain, specializing in dri...

Read More

Car Insurance Premium Calculator

InsuranceDekho does not endorse, rate or recommend any particular insurance company or insurance plan.

Learn about Car Insurance Premium Calculator

FAQ about Car Insurance Calculator

  • What is a car insurance premium 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 InsuranceDekho website, which is one of the best premium calculators available online.

  • How does the car model affect the premium for your car insurance?

    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.

  • How can I calculate the premium for my car insurance?

    To calculate the premium for your car insurance plan, simply go to InsuranceDekho 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.

  • How is the premium calculator helpful in determining the premium paid towards car insurance?

    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.

  • What are the advantages of using a car insurance premium calculator?

    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.

  • What is Basic Premium in Car Insurance?

    The basic car insurance premium is the recurring payment you provide to your insurance company, typically on a monthly or semi-annual basis. This payment ensures that you have insurance coverage, and once it's made, your insurer is responsible for the protections outlined in your policy, such as liability and collision coverage.

  • How can I calculate the insurance premium for my second hand car?

    You can simply visit InsuranceDekho 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.

  • What are the different factors that can affect the premium paid towards my car insurance?

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

  • What is a 12 month premium car insurance?

    A 12-month premium car insurance policy is an insurance coverage plan that spans an entire year. With this type of policy, your insurance rate remains consistent and locked for the duration of that year. At the end of the policy period, your insurance company assesses various factors, including your claims history and driving record, to make necessary adjustments to your premium.

  • What is the premium of car insurance in India?

    Car insurance premiums in India are subject to substantial variation due to numerous factors. These elements comprise the vehicle's make and model, the policyholder's age and driving record, the primary usage location of the vehicle, and the specific coverage type and extent. Furthermore, insurance rates can differ among various insurance providers.

  • How much is most car insurance a month in india?

    The monthly cost of car insurance is subject to significant variation due to several factors, which include..The monthly car insurance premiums can vary widely, ranging from as low as Rs. 1,000 to potentially exceeding Rs. 3,000. The specific cost is influenced by factors like Location, Age and Gender, Driving History, Type of Coverage, Vehicle Make and Model, Credit Score, Deductible and Discounts.

  • How much is the average car insurance per month in india?

    The monthly premiums for car insurance can encompass a spectrum, starting at Rs. 1,000 and extending to Rs. 3,000 or beyond. The actual cost hinges on elements such as the chosen coverage and the particulars of the individual.

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