Knowledge Centre

Car Insurance Premium Calculator

Car insurance premium calculator allows you to compute the premium of a car as well as compare benefits. Though premium is not the only best criteria to choose a car insurance policy, calculating premium before purchase gives you a fair idea of policy quotes.

How Car Insurance Premium Calculator works?

Once you land on the car insurance premium calculator page, mention mandatory details such as manufacturer, model, sum insured (value of the vehicle), date of registration, registration city, cubic capacity, product type (comprehensive/liability), add on covers. You can simply click on “Calculate Car Insurance Premium” and generate quotes instantly.

New Car Insurance Premium Calculator

To calculate premium for new car insurance you have to provide details such as date of registration, manufacturer, model, registration city, sum insured (value of the vehicle), product type (comprehensive/liability), add on covers. You can simply click on “Calculate New Car Insurance Premium” and generate quotes instantly.

Used Car Insurance Premium Calculator

To calculate premium for used car insurance you have to provide details such as date of registration, manufacturer, model, registration city, sum insured (value of the vehicle), product type (comprehensive/liability), add on covers. You can simply click on “Calculate Used Car Insurance Premium” and generate quotes instantly.

Calculate Renewal Premium

Car insurance renewal is important to continue enjoying the coverage and benefits. It’s advisable to renew your policy with HDFC ERGO as it nears expiry date. You can simply click on “Calculate Renewal Car Insurance Premium”and generate quotes instantly for renewing your existing car insurance policy.

Why HDFC ERGO?

Secured Over 1 Crore+ Smiles!

Take a quick look at our customer base, and you are sure to be amazed to see 1 Crore+ smiling faces! The multitude of awards received by us including the IAAA and ICRA ratings further speak about our trustworthiness, credibility and highest claim paying abilities!
Why HDFC ERGO?

Overnight Car Repair Services

The stars might refuse to shine, but we will never refuse to repair! We repair minor accidental damages from dusk to dawn without any hassle. You can simply get in touch with us; we will get your car picked at night, repair it and deliver it by morning at your door step .We offer these services in 13 cities at present!
Why HDFC ERGO?

Transparency at its best

Transparency holds the key to our transactions, and you can be assured of getting the seamless claim procedures. With 30 Minutes*** claim approval & online claim intimation via QR code we’ve been winning customer smiles everywhere.
Why HDFC ERGO?

All the support you need-24x7

Get hassle-free support every day, every week whenever and wherever you need! With our dedicated in-house claims team and customer support, we ensure every query is responded . Isn’t that great? To know someone has your back even in the middle of the night?
Why HDFC ERGO?

Go Paperless! Go Boundless!

Why stick to age-old time-consuming paper works when HDFC ERGO can get all your works done paperless? The online transactions make you boundless and free! Your time is valued at HDFC ERGO!
Why HDFC ERGO?

Secured Over 1 Crore+ Smiles!

Take a quick look at our customer base, and you are sure to be amazed to see 1 Crore+ smiling faces! The multitude of awards received by us including the IAAA and ICRA ratings further speak about our trustworthiness, credibility and highest claim paying abilities!

Overnight Car Repair Services

The stars might refuse to shine, but we will never refuse to repair! We repair minor accidental damages from dusk to dawn without any hassle. You can simply get in touch with us; we will get your car picked at night, repair it and deliver it by morning at your door step.We offer these services in 13 cities at present!

Transparency at its best

Transparency holds the key to our transactions, and you can be assured of getting the seamless claim procedures. With 30 Minutes*** claim approval & online claim intimation via QR code we’ve been winning customer smiles everywhere.

All the support you need- 24 x 7!

Get hassle-free support every day, every week whenever and wherever you need! With our dedicated in-house claims team and customer support, we ensure every query is responded .Isn’t that great? To know someone has your back even in the middle of the night?

Go Paperless! Go Boundless!

Why stick to age-old time-consuming paper works when HDFC ERGO can get all your works done paperless? The online transactions make you boundless and free! Your time is valued at HDFC ERGO!

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Frequently Asked Questions

The moment you drive your car out of showroom, its value get reduced. As time passes then even more value gets reduced due the depreciation being imposed by the insurer. When you raise a claim insurer would reduce the depreciation value from the value of the car. In order the get full value of car, you have to opt for Zero Depreciation Add-On. Premium charged for a insurance plan with this add-on is higher than one charged for a standard policy.
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.

The Insured’s Declared Value (IDV) of the vehicle will be deemed to be the ‘SUM INSURED’ and it will be fixed at the commencement of each policy period for each insured vehicle.
The IDV of the vehicle is to be fixed on the basis of the manufacturer’s listed selling price of the brand and the model of the vehicle proposed for insurance at the commencement of insurance /renewal and adjusted for depreciation (as per schedule specified below). The IDV of the side car(s) and / or accessories, if any, fitted to the vehicle but not included in the manufacturer’s listed selling price of the vehicle is also likewise to be fixed.

 

AGE OF THE VEHICLE% OF DEPRECIATION FOR FIXING IDV
Not exceeding 6 months5%
Exceeding 6 months but not exceeding 1 year15%
Exceeding 1 year but not exceeding 2 years20%
Exceeding 2 years but not exceeding 3 years30%
Exceeding 3 years but not exceeding 4 years40%
Exceeding 4 years but not exceeding 5 years50%
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.
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