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Car Insurance Premium Calculator

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Car Insurance Calculator

What is Car Insurance Calculator?​​​


​Car insurance is mandatory as per the Indian Motor Vehicles Act. Therefore, every car owner in India must opt for a Car Insurance policy to protect and cover their car. However, car insurance rates vary by a large amount and different car insurance companies offer different prices for the same coverage. To ensure you get the best deal, you should try a car insurance premium calculator that gives you a quick and personalized quote from a specific company. 

Most of the car insurance companies provide a car insurance premium calculator online. With the help of a car insurance calculator, you can get the best quote for your motor insurance policy​. This tool also helps one figure out the premium amount you would be required to pay for your policy.​

How to use Car Insurance Premium Calculator?​


With the help of steps mentioned below, you can easily use the car insurance premium calculator: 

Step 1: Firstly, you need to fill the details of your car. Details like car's age, model, variant, date of registration, your city, etc. All the information should be valid if you want 100% accuracy from the car insurance premium calculator. 

Step 2: After putting all the necessary information, you have to click on the Get Quote option. You will straight go to the page where you can choose the type of car insurance you want. 

Step 3: You can either opt for the basic Third-party car insurance or you can opt for a comprehensive insurance plan. Third-party car insurance will take care of the finances in case of the damage caused to third-party. Whereas, with a comprehensive plan, you can protect yourself too. 

Step 4: In case you are changing your car insurance provider, you must put the details of your previous car insurance while calculating the premium with the help of an online car insurance calculator. Details like mode of claim, the expiry date of previous policy, NCB earned, etc. 

Step 5: After filling all the details, you will be able to see the premium rates of your car.

Step 6: In case you opt for a comprehensive plan, you can go for add-ons like zero depreciation, engine protection, etc. 

​What are the benefits of a Car Insurance Calculator?


Now that we know what a car insurance premium calculator is, let us find out why it is worth a try:
  • Using a car insurance calculator helps you evaluate your insurance needs, which makes it easy to select the best policy that covers all the requirements.
  • It is an easy and efficient way to compare premium rates of a variety of plans with various features for your vehicle.
  • The process of purchasing a policy becomes unbiased as you don’t have to be under the influence of an agent/broker, and are free to make your own choice. 
  • By using a car insurance calculator, You get accurate information about the premium amount you’ll be paying for a particular policy.
  • You can also understand the way premium rates change with a change in variables.

What Are The Factors Affecting Car Insurance Premium?


Car's Cubic Capacity


You must know that your car's engine space is measured in cubic centimeters (cc). Higher is the space of the engine, more car insurance premium, you have to pay. 

No Claim Bonus / NCB


This is the benefit you will get in case you do not claim a policy tenure. Under No Claim Bonus or NCB, you will get a discount on the premium paid at the time of the renewal of your car insurance. You can get up to a 50% discount on the premium if you don't make a claim. 

Car's Brand Model 


The type of car surely decides the premium rate of car insurance. Your car's engine capacity, fuel tank, etc decide the premium rates. A luxurious car will have a higher premium as the price of maintenance is high. Whereas, the premium rate will be less of a car whose maintenance cost is low.

Place – Urban or Rural 


The place you are living in also decides on the premium rates. If you are living in an urban area, where you commute through roads and highways, you are more prone to accidents and that is why premium rates will be high. Whereas, if you live in an area that is more prone to floods, then your premium will also be high as the chances of your car getting damaged is high. 

Car's Age 


Age is the major factor when your car insurance provider decides on the premium. There are two concepts, Depreciation and Insured Declared Value (IDV). IDV is the current market value of the car, whereas depreciation is the reduction in the value of the car that is caused due to the damage of the car over the course of time. 

Voluntary Deductible 


In case you opt for voluntary deductible, you can reduce the premium rates of your car insurance. This means you have to pay some amount from your own pocket, which eventually means that insurer has to pay less at the time of settlement. 

Car Accessories

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If you have car accessories like anti-theft devices, it reduces the chances of theft, hence, your car insurance provider won't have to worry about the claim that you might make in case of robbery of your insured car. This is the reason why a car with Anti-theft devices will get a discount on the premium rates for car insurance.


What Information Do you Need to Calculate Car Insurance Premium?


As mentioned earlier in the steps that you need to fill details of your car accurately if you want to calculate car insurance premium using a premium calculator. In layman terms, the amount of input you will give to the car insurance calculator, the same output you will get. For instance, if you want to know how much it will cost you to renew your car insurance plan, it will depend on several factors. However, it will be different for both used and new cars. Here are some of the factors that determine how much premium you have to pay for car insurance:  

For a Used Car


If you want to calculate the premium of the car insurance that you are willing to buy for your used car, you will need to provide the following information to get the accurate result using car insurance calculator:

  • Type of fuel
  • Type of the car
  • Details of car insurance plan, if any 
  • Registration number
  • Claim history, if not then information on NCB 

For a New Car


If you want to calculate the premium of the car insurance that you are willing to buy for your new car, you will need to provide the following information to get the accurate result using online car insurance calculator:

  • Manufacturer's name 
  • Car model
  • City where your new car is registered 
  • Date and year of manufacturing
  • Details of the car owner like name, age, address, etc with the proof like Aadhar card, driving license, papers of the car, etc. 

Why is it important to use Car insurance calculator?


Before you start hunting for a car insurance policy for your beloved car, you should calculate premiums that you might have to pay with the help of a car insurance premium calculator. There are several car insurance providing companies that offer different benefits at different premium rates. It is your responsibility to choose the best car insurance provider that suits your needs and comes at an affordable premium rate. For benefits, you need to do thorough research, whereas to get affordable premium rates, all you need to do is use a vehicle insurance calculator. Let's look in detail how calculating premium rates with the help of car insurance calculator will help you: 

It Saves You Money 


Money is one of the most important factors when it comes to choosing anything. With the help of the car insurance calculator, you can compare the premium rates of various car insurance providers. This way you can get the car insurance that gives maximum coverage and benefits at affordable premium rates. You can use the money you save on the premium rates and invest it in some other plans like health insurance. 

You Can Make An Informed Decision


If you don't calculate premium rates, you have to depend on the insurance agents. These agents will take high commissions and they will not give you options to choose from. However, you can protect yourself from agents like these by doing thorough research. 

Ease of Process


You can easily buy car insurance online from the comfort of your home. 

Tips to Reduce your Car Insurance Premium


Given below are some of the tips that you can use to reduce your car insurance premium. Make sure you do the following things to get the most affordable premium: 

Select Relevant Add On Covers


When you will ask an expert whether you should opt for add-on or not with your comprehensive car insurance plan, the answer will always be yes. This is because add ons widen your coverage which gives you an extra layer of financial protection. However, these add-ons come with a price, and that is high premium rates. This is why it is highly recommended to opt for an add-on that suits your needs and not the one that you don't require. You can select relevant add on covers for car insurance by prioritizing your and your car's needs. 

Car Accessories and Modifications 


If your car consists of car accessories like Anti-theft devices, you will be able to reduce the premium rates of the car insurance. Anti-theft devices reduce the chances of robbery of the insured vehicle; thus, policyholders might not make the claim. Car insurance providing companies offers discounts on the premium rates to the people whose car is modified in a way that reduces the chance of robbery.

Timely Renewals 


You should do everything on time. And you should definitely renew your car insurance on time, if you want to enjoy benefits like NCB, etc. Once the last date of renewing your car insurance plan passes, you won't be eligible for the benefit that might reduce the premium rates. 

Always Drive Carefully 


This is the most important thing that you should do, as it will not only protect you, but it will also make you eligible for certain benefits. No accidents mean no claim, and no claim means eligible for NCB or No Claim Bonus. 

NCB 


No Claim Bonus or NCB is the discount you will be eligible for at the time of renewal if you don't make any claim under your car insurance plan in the policy term. Under this benefit, you will get a discount on the premium rates. So, make sure that you maintain a good driving record so that you don't have to make any claim. At the time of renewal of the policy, you can get the discount. You can get up to a 50% discount on the premium rates. 

Why Should You Buy Reliance Car Insurance?


Car insurance offered by Reliance General Insurance comes with the following features which makes it highly popular among policyholders: 

A Wide Network Of Cashless Garages 


If you opt for Reliance car insurance, you will get access to several benefits. One of the benefits is the cashless repair at more than 3800 network garages all across the country. All you need is some necessary documents to enable cashless repair at network garages. 

Personal Accidental Cover


In case of an unfortunate event like an accident, Reliance car insurance will protect the policyholder financially under the personal accident cover. 

Discounts


There are several ways to reduce the Reliance car insurance premium. You can get a discount on the premium by installing car accessories like anti-theft devices which reduce the chances of robbery. You can also opt for AAI membership to get a discount. If you opt for voluntary excess on your claims, you will discount up to Rs. 2,500.

High Claim Settlement Ratio


You don't have to wait for days to get the claims, as Reliance car insurance settles the claim without any hassles.

24x 7 Roadside Assistance


If you buy Reliance car insurance, you will get 24 x 7 roadside assistance which is much required in case of breakdown of the car in the middle of nowhere or in an unfortunate event of an accident. 

Tax Savings


Under section 80 D of Income Tax Act, 1961, you will be eligible for tax benefits on the premium paid towards the Reliance car insurance. So, this car insurance plan from Reliance General Insurance also works as a tax saving option. 

It also comes out with tax benefits that lead you to tax savings under section 80D of the Income Tax Laws of India.

Customer Support


We offer the best customer service assistance to our clients. Our customer service is probably the best you will see in the Indian insurance market. You can contact the employees of Reliance car insurance at any time and raise your queries. 

You can choose to buy a car insurance policy from Reliance General which suits your needs. Reliance offers the following policies –