Your Guide To A Car Insurance Premium Calculator!

It is a tedious job to calculate the car insurance premium. With the help of the car insurance calculator, you will be able to find out the premium very easily. The calculator will help you understand various features very easily. The online tool will save your time and effort so that you can take the best decision very easily. As you will figure out the premium that you should want to pay for your car, you can manage your finances in a very efficient way.

Benefits of car insurance premium calculator

As the car insurance is paid annually, you can use the online calculator to calculate the precise premium that you can pay without any difficulty. If you can collect few details about your car, you can calculate the premium very easily.

You will want to enter the own damage premium (corresponding to the value of the vehicle) and liability premium (which gives protection from third-party damage). The ‘no claim bonus’ and other discounts should be deducted from the total premium. As you enter the details in relevant text boxes of Car Insurance Premium Calculator, you will figure out the car insurance premium quickly.

Factors of concern affecting Premiums for Car Insurance

The following factors will affect the car insurance premium:

• IDV (Insured Declared Value) – The IDV is the maximum amount that you can claim from the insurance company when your vehicle is damaged or involved in the accident.
• Make and model of the vehicle – The brand name and model of the car will have an impact on the insurance premium.
• Depreciation – The value of the car will decrease every year and it is termed as the depreciation. The depreciation cost will be in between 5% and 50%. The value of the car will be reduced annually. The depreciation on replaced parts will be waived off by the insurance company when your car is covered by depreciation cover. Thus, you can manage higher claim amount.
• Engine size – The premium of the vehicle will increase with the rise in the volume of the engine.
• Location of the vehicle – The location of your home or office will have an impact on the insurance premium. Certain geographical locations bear higher risk factors in terms of accidents, the risk to natural calamities, etc. Hence, the insurance premium is based on the risk factors associated with the location.
• Own damage premium – The events that are outside your control are insured by the ‘own damage premium’. The premium will give your car protection from earthquakes, fire, floods, tsunami, and other factors beyond your control.
• Third party cover – The financial liabilities that occur due to the death of the vehicle owner will be borne by the insurance company. The insurance company will pay the amount on behalf of the vehicle owner. As per Indian law, it is mandatory to possess the third party cover. Hence, you should go for a comprehensive cover to overcome financial emergency when you are involved in an accident.
• Personal accident cover – Accidental death or total disability is covered by the ‘Personal accident cover’. It is not included in all insurance plans. Hence, you should ensure that the benefit is included in your cover so that you can make the most of your money.
• Add-on covers – Certain add-on covers should be included as per the risk perception. Road-side assistance, towing assistance, fueling, accommodation benefits, engine & electronic circuit cover, loss of personal belongings and return to the invoice are some of the factors that you can include in the insurance premium as per your needs.

Steps to work with Car Insurance Premium

• Check the insurance plan (new or renewal)
• Select the make and model of the car
• Select the fuel-type (diesel, petrol, CNG or electric power)
• Enter the car registration place
• Enter the car registration number
• Enter the name, phone number and email address

The above steps will help you choose the best car insurance plan as per your requirements.

You can save as much as 60% by finding the useful information about the car insurance. You should know different plans from various car insurance companies. Reputed car insurance companies manage hundreds of garages spread across the country. Hence, you can get your car repaired very easily and you can manage great peace of mind by subscribing to the best car insurance plan. Car Insurance Premium Calculator will give you various options towards the selection of the plan and the premium.

Conclusion

You should buy a comprehensive car insurance plan to protect yourself, passengers, vehicle damage and third-party liability. Car Insurance Premium Calculator will help you figure out the best car insurance plan to accomplish safe ride on road. You will get best insurance plan by entering the key information in the online calculator. The tool is useful for quick research and you will manage the most appropriate insurance plan as per the make and model of your car.

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