Before your brand-new car rolls out of the showroom, you must insure it. And for this, you need to purchase a car insurance policy from an insurance company. Therefore, when planning to buy a car, it is also wise to spend some time on the type of insurance policy you may need.
Many auto insurance companies today offer excellent benefits, but doing several plans, checking the benefits and features, and choosing the right company for you can be stressful. This is where calculating your car insurance premium can come in very handy.
Car insurance premium calculator
The free online tool, Car Insurance Premium Calculator, helps you instantly get quotes on your car insurance plan. Enter basic details of the vehicle, and the calculator will display an estimated premium. It also caters to factors like third-party auto insurance, comprehensive auto insurance, auto insurance frills, etc.
Car Insurance Premium Calculator Features and Benefits
Premium Calculator is a dynamic and efficient tool. Its benefits have made it very popular. Let’s take a look at the advantages of using a car insurance premium calculator:
Make an estimate
The calculator will give you good idea of the premium a separate car insurance policy will cost.
Plan according to your budget
Planning within budget becomes very easy with this premium calculator. You can mix and match factors and customize your plan yourself.
You can compare any number of the plans by different companies, which helps you choose the best method for yourself.
Using the calculator, you can select additional functions for car insurance while monitoring the premium. Then, you can adjust the price according to the added features.
Works for old and new cars
Whether it’s an old or new car, you can use our car insurance premium calculator for all types of vehicles.
The premium calculator helps you to calculate the approximate premium for your car insurance plan quickly.
How does the car insurance premium calculator work?
The car insurance premium calculator works based on the details you provide.
You need to enter the following information and get your premium amount:
- MMV – Make, Model, Variant
- Registration details
- manufacturing year
- fuel variable
- Claim date
- The type of policy you want
- Extras, if any
How to use online car insurance premium calculator?
Online calculators are designed easy-to-use, and the process of using one is straightforward. To further assist in the process, here are the steps you need to follow when using an car insurance premium calculator:
Step 1 – Details
When you land on car insurance premium calculator page, you must enter your contact details – email address and mobile phone number.
Step Two – Register
Enter registration details – registration date, year of production
Step 3 – MMV
You will also need to enter the make, model, and variant of the vehicle
Step 4 – Fuel Variable
You will have to choose whether your car is petrol or diesel
Step 5 – Record Claims
Whether you have an previously made a claim or are eligible for the No Claim Bonus, enter their details
Step 6 – Plan Type and Extras
Now you can select the type of plan – 3rd party auto insurance, comprehensive insurance, or zero-depreciation car insurance policy. Add-ons can be added if you choose a comprehensive insurance plan.
The calculator will now calculate and display the premium based on all the details.
Factors affecting car insurance premium
Several factors significantly affect car insurance premiums. Therefore, before finalizing the plan, take a look at the following items and customize your strategy accordingly:
The type of the policy you choose will affect the premium you have to pay. For example, a comprehensive approach provides more coverage and costs than a third-party insurance plan.
How old is your car?
Older car insurance will be cheaper than a new car insurance policy, as the value of the car, or IDV, decreases over time with age.
MMV stands for your four-wheeled vehicle’s make, model, and variant. These 03 factors determine the value of your car and thus affect the premium cost.
The more coverage the policy offers, the higher the cost. However, you can choose as many add-ons as you like and pay accordingly.
According to current guidelines, car insurance can be done for up to 3 years. With a more extended period, you pay the total premium in a lump sum, which may seem a little heavier in your pocket.
Diesel vehicles cost more than different types of gasoline, so that you will pay a more expensive premium for diesel car insurance.