Car Insurance Premium Calculator - Get Insurance at the Click of a Button

If you wish to buy vehicle insurance India buying it online is the best option for you. Every car insurance company enables you to calculate the value of your insurance using the car insurance premium calculator so as to arrive at a decision that ensures the best car insurance policy to suit your requirements in the best possible manner.



Insurance Gets Simpler and Easier

Unlike health or property insurance, vehicle insurance India is mandatory by law. A car insurance policy may be bought for personal purposes or to avail third party cover. Under coverage for third party, protection is given for damage caused to life or property of a third party. Damages caused to the car of the insured are not compensated under this part of the insurance.
The other type of car insurance offered by every car insurance company is called comprehensive insurance and provides a much wider range of coverage for the car. Under the umbrella of the comprehensive car insurance, the insured person’s car is covered for damages caused by earthquakes, riots, cyclones, fire etc as also loss or theft of the car. The driver of a car also has great responsibility not only towards the car and himself but also to the co- passengers in the car and to pedestrians on the road. Safety and insurance go hand in hand.
A few facts about car insurance are relevant to know before you get quotes from a car insurance company. The car insurance premium calculator is a tool available online and according to Indian Motor Tariff Act it takes into consideration the following parameters.
• Type of vehicle.
• Age of vehicle
• Period of coverage.
• Insured’s declared value. (IDV)
• Discounts or loadings.
• City of registration.
According to Indian Motor Tariff, cities are categorised zone wise for purpose of vehicle registration and these zones have separate premium ratings. Irrespective of the place where a car is used or where the insurance is renewed, the premium depends on the city of registration.
Looking online provides guidance about getting premium rates online. It is the most convenient way to know about premium rates. It also provides guidelines to compare rates of different companies for premium.
Broad guidelines for using car insurance premium calculator are given as under:
• A car is insured at a fixed value called the Insured’s Declared Value. (IDV).
• IDV is calculated on the basis of the listed selling price of the car as given by the manufacturer plus listed price of accessories fitted. From this sum, the depreciation for every year as per schedule of the Indian Motor Tariff is deducted.
• In case any electrical or electronic item installed in the car does not feature in the manufacturer’s list, the actual value of this item minus depreciation is added to the insured sum over and above the IDV.