Take 10 Minutes to Get Started With Car Insurance Premium Calculator [Top 10 List]

What is Car Insurance Premium Calculator?

Car insurance premium calculator is a dynamic tool provided, online, by car insurance companies. Get started with top 10 car insurance premium calculator online.  

• Almost every reputed motor insurance company has an car insurance premium calculator on their official portal.
• With the help of the car insurance premium calculator, customers can get a quote for their car insurance policy and the premium amount they need to pay for the same Bajaj finance .
• You have to visit the 'car insurance calculator' page and fill in some basic information about yourself like the policyholder's name, contact details and address, followed by some standard details about the insured/to be insured car. These details are - car manufacturer's name, model number of the car, manufacturing year, car sub-type (if any), fuel type and registration date.
• Some companies also give you an option of selecting if you want to insure the accessories installed inside the car.
• After you have filled the details correctly, just click on the 'calculate premium' button and you will immediately get the quote.
• After this, you also get an option to get more information and payment option to buy car insurance of your choice.

What are the benefits of a Car Insurance Premium 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.

How to use Car Insurance Premium Calculator?   Any online car insurance calculator will ask you for basic details of your car such as the make and model, registration number, manufacture date etc to calculate the premium. However, you also need to know about the following factors that affect the premium value:  

1. Insured Declared Value or IDV of the Vehicle This is one of the most important factors that has an impact on the premium for your car. IDV is the sum insured for the vehicle that is finalized by the insurer. In simple terms, it the current value of the vehicle as per market.
2. Cubic Capacity (CC) of the Vehicle The engine power of your vehicle is directly proportional to your car insurance premium.
3. No Claim bonus (NCB) You can save up to 50% on the Own Damage premium if you have a No Claim Bonus feature in your car policy.
4. Additional Discounts Installing anti-theft devices in your car or becoming a member of the Automobile Association of India (AAI) can considerably reduce your automobile insurance premium too.
5. Car Accessories Any modifications to the vehicle will add an extra amount to your insurance premium.