If you have recently bought a car or are considering purchasing one, you must know that buying Third-Party Insurance for your vehicle is compulsory in India. You can also choose a Comprehensive Car Insurance Policy to ensure enhanced protection for your car. However, when buying Car Insurance, it is also crucial to stay within budget. This is when using an online Car Insurance Premium Calculator can prove helpful.

In this article, we will discuss what a Car Insurance Calculator is, explore its various benefits, and offer tips on how to use it. We will also highlight the factors determining your car’s Insurance Policy premium.

What is a Car Insurance Premium Calculator?

An online Car Insurance Calculator is a handy tool that estimates how much you have to spend when you buy a Car Insurance Plan. Unless you understand the type of coverage and the premium you must pay, you might buy a policy that does not match your needs. You may also end up paying more for the coverage you receive.

Benefits offered by a Car Insurance Calculator

A Car Insurance Premium Calculator offers the following benefits:

• It calculates the premium amount and provides the results instantly. The estimate is also precise.
• You can also use this tool to compare policies and pick one that fits your budget while ensuring the coverage you need.
• It makes comparing policies convenient and keeps you from manually going through the paperwork of various policies. This saves time and effort.

Steps to use a Car Insurance Calculator

Using a Car Insurance Calculator, you can efficiently compute the premium of your new as well as existing car. Here are the steps to follow:

• Choose an online calculator from a reputed General Insurance company.
• On the calculator, fill in the brand and model of your car.
• Enter the city where your vehicle is registered and select the month and year of buying your car.
• You must also answer if you have made a claim in the previous year.
• The calculator may also ask for personal details like name, mobile number, and email id.

Once you enter the necessary details, click on the ‘Calculate’ button to get an instant quote. You can also include various add-ons to your Insurance Plan and check the premium accordingly

Factors determining your Car Insurance premium

The following factors determine the premium of your Car Insurance:

• Type of coverage
• Model of the car
• Insured Declared Value of your car
• Location
• Discounts available
• Engine Capacity of the car
• Add-on covers

Conclusion

An online Car Insurance Calculator is a handy tool. By following the steps mentioned above, you can use this tool to determine the premium of your chosen policy. You can also use it to compare various Car Insurance Policies and choose one that fits comfortably within your budget.