In recent years, owning a car has evolved beyond being a status symbol. It’s now considered a notable milestone in one’s life. After purchasing a vehicle, obtaining car insurance is a prudent move. A comprehensive car insurance plan protects against unexpected accidents and minor mishaps while on the road. In India, it’s a legal necessity to have third-party car insurance to ensure your safety and your car’s protection.

How Is The Premium For Car Insurance Determined?

Using this straightforward formula, you can better understand how car insurance renewal premiums are calculated.

Premium = Own Damage Premium – (No Claim Bonus + Concessions) + Liability Premium as Determined by the IRDAI + Cost of Add-ons is the formula used in the car insurance calculator.

How Can I Use An Online Car Insurance Calculator?

A car insurance calculator lets you compute your premium and compare policies from different companies, making it easy to select the ideal option. After comparing, purchasing a policy online is a simple process.

To use the car insurance premium calculator, follow these steps: 

Step 1: Select your vehicle’s make, model, fuel type, and version.  

Step 2: Select the RTO for your vehicle from the provided list.  

Step 3: Choose which year you purchased your vehicle. 

Step 4: Click “Yes” if you have previously submitted a claim; click “No” otherwise. 

Step 5: Select the ‘Calculate’ button.

Step 6: Your car’s estimated premium and insured declared value will be shown on the screen.

Calculating Car Insurance Premiums for Used Cars

Each car insurance provider determines a policy’s premium using different factors. You can quickly and transparently obtain your car’s ideal car insurance policy using the online car insurance calculator tool. You must enter the following information for us to calculate the premium for used cars:

  • Car Type
  • Type of fuel
  • Information about the current car insurance policy
  • The vehicle’s registration number and information about the ownership transfer
  • Claims for past years, if relevant

The used car insurance calculator tool will display the premium needed to insure the vehicle in seconds.

Calculate New Car Insurance Premium

This tool offers a list of the ideal insurers and their vehicle insurance policies in just a few easy steps. This gives new car owner the much-needed direction in selecting the right car insurance coverage for their highly-valued vehicle. The information needed to determine the insurance premium for a new vehicle is as follows:

  • The brand name of the carmaker
  • What kind of car is it
  • The manufacturing year
  • Details of the driver’s personal life
  • Vehicle’s registration status

Calculate Your Comprehensive Car Insurance Premium 

A comprehensive policy offers complete coverage for your vehicle. It includes a range of add-on covers, covering everything from third-party losses to damages. Using an extensive car insurance premium calculator, you can experiment with various add-ons to see how they impact your Bajaj Allianz car insurance premium. Your decision will be much more straightforward with the help of this online tool. Claims are subject to terms and conditions set forth under the motor insurance policy.

Get insured anytime, anywhere! Check out Bajaj Allianz General Insurance website to learn more and download the app now.

Standard T&C Apply 

Visit the official website of IRDAI for further details.

All savings are provided by the insurer as per the IRDAI-approved insurance plan. Standard T&C apply

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.