How does the Car Insurance Premium Calculator work?
The online car insurance premium calculator is an interactive tool that can be used to calculate your car insurance premium. Start with the top 10 online car insurance premium calculators.
- Nearly all motor insurance companies have 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.
- 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:
- 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.
- Cubic Capacity (CC) of the Vehicle The engine power of your vehicle is directly proportional to your car insurance premium.
- 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.
- 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.
- Car Accessories Any modifications to the vehicle will add an extra amount to your insurance premium.
So you have understood very well, What isCalculator for car insurance premium? and the benefits to use Calculator to calculate car insurance premium, so take 10 Minutes to Get Started With Calculator to calculate car insurance premium[Top 10 List].
1. Bajaj Allianz General Insurance Company Limited
Bajaj Allianz General Insurance Company Limited, a joint venture of Bajaj Finserv Limited (recently merged from Bajaj Auto Limited), and Allianz SE is Bajaj Allianz General Insurance Company Limited. Both have a strong reputation for their expertise, stability, and strength.
Bajaj Allianz obtained the Insurance Regulatory and Development Authority certificate of registration on May 2, 2001 in order to carry out various business (including Health Insurance) in India. The authorized and paid-up capital of the Company is Rs 110 crores. Bajaj Finserv Limited owns 74%, and Allianz SE holds 26%.
Bajaj Allianz, which continues to grow and profit as of 31 March 2017, was one of the strongest financial insurers in the sector. The company made a profit after tax of Rs. 1,078 crore, making it the most profitable insurance company with a profit after taxes of Rs. 728 crore. According to the company, the GWP was Rs. 7,687 crore has increased by 30.3% over the previous fiscal year.
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2.HDFC ERGO General Insurance Company Limited
HDFC ERGO General Insurance Company (51:49) is a joint venture between the Housing Development Finance Corporation Ltd., India’s leading Housing Finance Institution, as well as ERGO International AG, the primary insurance entity of Munich Re Group of Germany. The Company marked the first merger in the General Insurance sector in August 2017, with IRDAI’s approval for the merger of HDFC ERGO General Insurance Co. Ltd. with HDFC General Insurance Ltd. (formerly Known as L&T General Insurance Co. Ltd.), and the merged entity, known as HDFC ERGO General Insurance Co. Ltd., is the third largest General Insurance provider in the private sector.
HDFC ERGO sells products like Motor, Health, Travel, and Personal Accident Insurance. They also offer customized products like Property, Marine, and Liability Insurance through their vast network of 122 branch offices that is distributed across 106 cities and a broad distribution network.
HDFC ERGO offers customers a variety of technologically advanced solutions. This includes the Insurance Portfolio Organiser App (IPO App on Apple Watch), the Overnight Car Repairs service, Motor Self-Inspection Application and the HDFC ERGO Customer Community. The Company has created new platforms that allow customers to interact and engage with the company, such as DIA, an AI-enabled chatbot available on its website, Amazon Alexa or Google Assistant.
HDFC ERGO has not left any stone unturned in customer service. It follows a TAT of 30 minutes for pre-authorised, cashless Health Insurance Claims. For pre-authorised, cashless Motor Insurance Claims it uses a TAT of 15 minutes.
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3. Coverfox
Coverfox is an insurance broker firm that has been approved by IRDAI. Coverfox was founded in 2013 as a website with the goal of making insurance easy.
You should compare the features and prices of insurance policies before you buy insurance. You can then expect to receive assistance if you ever need it, whether you wish to make a claim or renew your policy.
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4. Reliance General Insurance
We are proud to be India’s largest general insurance company. We have a vast customer base, which includes individuals such as you and corporates as well as SMEs.
You can reach us at any time with our 139 offices or through our more than 26,587 intermediaries throughout India. Moreover, with online & telecalling services, we have become even more accessible.
What are we offering you?
We can help you with all your insurance needs, including motor, home, travel, and marine. Our products and services are tailored to each customer’s specific needs. In our endeavor to delight our customers, we strive to come up with innovative products like India’s first Over-The-Counter health & home insurance policies.
Vision
We want to score perfectly for world standard services & products, and want to be your first choice in domestic as well as global markets.
Mission
• Satisfy your need of insurance cover in that crucial hour
• Offer incomparable customer service
• Provide innovative products
• Better reach through presence across India and abroad
Goals
• Make affordable insurance accessible to all
• Keeping you, our customers, as focal point in all our operations
• Protect policy holders’ interests
• Be the most innovative in product development
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5. PolicyX
PolicyX cares about you. That’s why we only charge the minimum to ensure you get the best insurance. Insurance provides financial security in the event of a loss or deterioration in health, death, maternity, accident, disease, or other circumstances. We are here to help you in your time of need. We have witnessed and been shocked by the amount of times agents cheat, steal and missell in sensitive situations. We bring PolicyX to India in an effort to end such practices. PolicyX believes that customers should receive the best policies at lower premiums. It also provides the satisfaction that you are protected in case of emergency. Because we care about you and your family, we connect emotionally with them.
With our motto of Search > Choose > Buy, we get you instant quotes, help you select right quote and secure coverage right away with our technologically advanced system. Our complex algorithms help us find the right plan for you and give you quotes and features within seconds. PolicyX is here to help with your every insurance concern. Get your first quote now! Get your first quote now!
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6. Bharti AXA General Insurance Company Ltd
Bharti AXA General Insurance Company Ltd, is a joint venture of Bharti Enterprises, an Indian business group, and AXA, which is a global leader in financial protection. In August 2008, our firm began national operations. We are licensed by IRDAI (Insurance Regulatory and Development Authority of India). We offer a wide range of insurance options to meet your needs. We offer insurance coverage in many categories, including Motor, Health, Travel, Home, and others. Online renewals and purchases are easy.
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7. Bankbazaarinsurance.com
Bankbazaarinsurance.com is an online destination for insurance comparison for customers seeking both life and general insurance products. We strive to be a one-stop shop for customers’ Insurance needs. Easy and convenient; Convenience; Understanding; Customized offers; Compare multiple options.
Meet the founders
Adhil Shetty
Adhil is an Anna University engineering graduate and holds a Master’s in International Relations from Columbia University. He held key positions at Deloitte Touche Tomahatsu’s US East Alliance, Cisco Systems, and then he plunged into writing the BankBazaar story. This is the brand’s flagship.
Arjun Shetty
Arjun holds a master’s degree in Operations Research at Georgia Institute of Technology, and an engineering degree from Anna University.
Rati Shetty
Rati graduated from the University of Madras with a Bachelor of Business Administration degree. Rati has ingested some of the rich qualities of Toblerone Brazil and Milka USA, while simultaneously managing many Kraft Food’s brands in international markets. She also worked for Kraft in the US as well as Taiwan.
8. Easy Insurance India
Easyinsuranceindia.com is another successful initiative of the professionals who founded ICM Computer Consultants and ICM Solutions in 1989 and 2001. These professionals are American-educated and have over 40 years combined experience in India as well as the USA in areas such IT management and corporate management. ICM has assisted more than 500 clients in achieving their goals over the past decade by offering customized solutions that combine software, hardware, and other services.
Our success today is due to our management’s focus on customer satisfaction and growth, which permeates throughout the entire organization.
We are always striving to improve our operations, including reengineering and the use of the latest technology. This allows us to offer our customers better service and more value for their money.
Insurance is becoming increasingly competitive, offering customers a wide range of options. Customers are happy to see this change. It has been difficult for customers to compare insurance policies due to the complexity.
Through easyinsuranceindia.com, we empower the customer with a powerful tool where the customers can compare the products offered by various insurance companies in one shot, thus enable the customers to decide on the best insurance cover for them.
Our Mission
ICM Insurance Brokers Private Limited is designed to protect the risk of individuals and businesses in modern economies who are looking for affordable, transparent, complete, cost-effective insurance solutions that can be accessed on demand. They also offer hassle-free claims settlement.
Our Vision
ICM to be the most preferred way to purchase insurance products through easyinsuranceindia.com, its most intuitive ecommerce solutions coupled with superior customer service – during purchase and during claim.
9.IFFCO-Tokio General Insurance
IFFCO Tokyo General Insurance was founded on 4 December 2000. The company’s vision is to be a leader in the industry by ensuring customer satisfaction through fairness and transparency. It is a joint venture with the Indian Farmers Fertilizer Co-operative and its associates, Tokio Marin and Nichido Fire Group. This is the largest listed Japanese insurance group.
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10. Kotak General Insurance
Kotak Mahindra General Insurance, a 100% subsidiary to India’s fastest-growing bank Kotak Mahindra Bank Ltd. was created to serve India’s growing non-life segment. Kotak Mahindra General Insurance values customer service, quality, and innovation above all else.
The company aims to cater to a wide range of customer segment & geographies offering an array of non-life insurance products like Motor, Health, etc.
Kotak General Insurance is a national insurance company with 13 branches in India (as of 31st December 2017) and 354 employees. (as per 31st Dec 2017
As a practice, the company seeks to provide a differentiated value proposition through customized products & services leveraging state of art technology & digital infrastructure.