Features of Car Insurance Premium Calculator 2018

For the ones who have bought at least one vehicle, either two-wheeler or four-wheeler, must be aware that dealers offer insurance for the first year. Of course, you end up paying for the same for the most part. However, at times, depending on the season or offers, dealers might offer it for free or ask you to pay a nominal amount for the same.

An insurance for your vehicle, especially a car is not a choice that a dealer makes. In fact, they are merely following the guidelines of the Motor Vehicle Act of 1988. According to the act, all vehicles that are to ply on the roads must have a valid insurance. Thus, by offering insurance right out of the showroom, dealers and manufacturers ensure that you have a policy at least for the first year.

Of course, you stand to get a lot of other benefits by buying a car insurance policy apart from getting the legal clearance. For starters, you can claim for any damages to your car during an accident, natural calamities such as earthquake, flood, typhoon etc. or issues caused by men such as theft, burglary etc. Insurers also offer personal accident cover for the driver of the vehicle, making car insurance a very potent tool to have.

If you are on the lookout for buying an insurance, car insurance premium calculator 2018 is the smartest to go about the same. There are several insurers who offer such calculators on their website. The simple idea behind using car insurance premium calculator 2018 is to get quotes from insurers before actually buying the policy.

Easy Ways to Calculate Your Premium

A car insurance premium calculator 2018 is one of the easiest ways by which you can buy a car insurance policy. There is an understated reason for the same. A lot of factors, permutations and combinations get into place for the calculation of a car insurance policy. Here are some of them.

  • Age

The age and gender of a buyer play a crucial role in deciding the premium for the policy. People who are below 25 years old are more prone to accidents and thus might have to shell out a higher amount for the policy.

  • Residence

If you live in a city that has a dense population, the changes of incidents are also relatively higher. A higher insurance premium is imminent.

  • Vehicle Details

The fuel type of your car is also an important factor for the premiums. For an instance, a CNG fitted vehicle will fetch higher insurance premiums as compared to petrol or diesel cars. Also, the year of manufacture of your car is important. The older the vehicle is, the lower will be its insured declared value and likewise the premium.

  • Discounts

The most prominent category for a discount is the NCB or no claim bonus. It ranges from a minimum of 20% up to a maximum of 50% for every consecutive year or no claims. There are some other forms of discount as well. If you install an anti-theft device approved from ARAI, you can get a 2.5% discount and likewise if you are part of an automotive association, you can expect some discounts.

It can get a bit overwhelming for someone new to consider all of the above factors and then come to a conclusion. It is at such times that car insurance premium calculator 2018 comes into the picture and how. These calculators take into consideration all of the factors and offer you quotes from either individual insurers or multiple insurers.

A car insurance premium calculator 2018 allows a potential customer to change the parameters slightly and see how that impacts the premium as well. This way, they can pick up a policy that best suits their needs without burning a hole in their pockets. You can push the benefits to a level higher by opting to compare the quotes from different insurers on You can save a considerable amount of money on the same.

Essentials of Calculating Premium

When you use car insurance premium calculator 2018, you get to know the quotes of a policy well in advance. This reduces the chances of any surprises at the end. Using online calculator smoothens the entire process to a large extent as well. Once you have compared, you can continue on the same thread and buy a policy. It offers you a greater level of control over buying a policy and help you save money as well. Most importantly, a car insurance premium calculator 2018 ensures that your decision is not influenced by an insurance agent or company representative.

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