Car Insurance Premium Calculator

There are three type of insurance coverage options, third party liability, standalone own damage and Comprehensive insurance plans. The premium for the third party is fixed by the regulator and depends on the cubic capacity of the car, the premium for the standalone own damage insurance plan depends on the insured declared value of car after taking into account depreciation factor, you can choose a higher IDV but the premium will be higher. A comprehensive insurance plan premium has two components that of Third party premium and also of Standalone Own Damage Plan.

For comparing car renewal insurance, you may read about the policy offerings, compare quotes and renew your insurance online, instantly

Zero depreciation car insurance cover provides you the benefits against the depreciation on parts at the time of a partial loss claim.

By simply entering your vehicle registration details you can calculate premiumClick here and compare quotes of different policies by HDFC ERGO online.

Car insurance premium is the amount you pay to the insurance company for getting insurance coverage for your car. The factors that affect it are: • Make, Model and Variant of your car • Age of your vehicle which takes into account the Depreciation and Insured Declared Value • Location, if you reside in a metro, you would be paying a higher premium than a non-metro resident • Coverage: If you opt for a third party insurance, you would be paying a lower premium in comparison to comprehensive cover, however in the comprehensive cover you get more coverage against risks. • Selection of Add-On’s : They increase your insurance coverage but could result in a nominal hike in premium • If you have a no claim bonus, this can result in insurer offering a discount on the premium • Installation of security features like anti-theft devices can result in insurer charging a lesser premium

The car insurance premium calculator is an online tool for calculation of premium, it takes in the details like the make, model and variant of car, and also other details including age of the vehicle, location, add-on’s , No Claim Bonus and driving history which helps in calculation of the final premium that is quoted

Yes, the engine capacity which is measured by cubic capacity (total power produced by engine) of a car highly affects the car insurance premium. Higher the engine capacity (CC), higher would be the premium.

You can take the following steps to save on car insurance premium: 1.Compare the quotes by different insurers and pick the one that provides more benefits at a lower price. 2. Ask about bundling your insurance:If you have home insurance, you can ask your current provider about car insurance as well. Sometimes, insurance providers may give a discount on car insurance premium, if you already have home insurance or have another vehicle insured with them. 3. Maintain a good credit score:The policy premium is also calculated based on the credit score, as people with a good score make fewer claims.

Yes. Both the make and model of your vehicle influence the cost of your insurance premium. The premium for a luxury sports car will be more than a hatchback for instance. This is because any damage to a luxury car will need a costlier repair.

Low IDV or Insured Declared Value means you are insuring your vehicle below the market value, and so, your premium will be less. However, at the time of making a claim, the compensation amount will be less and you may have to bear some of the loss. Experts recommend that instead of higher or lower IDV, you go for the right IDV.

As the car ages, its value depreciates. Zero Depreciation Cover is an add-on cover that provides complete coverage to your car without considering the depreciation value. In the event of any damage, the entire claim amount will be paid by the insurer. Without this add-on, the insurer pays the compensation after deducting the depreciation amount which has to be borne by you. You need to pay an additional premium to purchase this add-on.

Yes. If you add an additional layer of protection, it will lower the risk for the insurer in case of a theft, and so, you will be rewarded with a discount.