KOTAK MAHINDRA CAR INSURANCE PREMIUM CALCULATOR

What is a Car Insurance Premium Calculator?

A car insurance premium calculator can help you figure out how much a car insurance policy will cost you. This digital tool enables you to compare different insurance policies offered by various insurers. Just enter a few details about your car and calculate the premium for Kotak car insurance policy in a single click.

How To Use a Car Insurance Premium Calculator?

1. Enter car details such as model, fuel type, and registration details as per the registration certificate (RC)
2. Enter the previous year’s policy details and claim details (if any)
3. Select the add-ons of your choice (if applicable)
4. Car insurance premium calculator will now display quotations from multiple insurers
5. Compare premiums and benefits of the displayed plans and select the best fit
6. Calculate Now

Benefits of Using A Car Insurance Premium Calculator

Suitable Premium Plans: The main aim of buying an insurance policy is to get the best coverage at the most affordable premium. The premium calculator helps you to select the best plan according to your needs with premiums that suit your pockets.

Best IDV- IDV value helps to determine the correct compensation amount for your vehicle, it is essentially the market value of your car which serves as the claim settlement amount in the event of theft or total loss of the vehicle. The premium calculator calculates the correct IDV for your car depending on its make, model, and age. Know more about IDV.

Easy, Quick, and Paperless: Car Insurance Calculator is quick, simple, and requires no math. The tool is fully digital and does not require any paperwork.

Choose a Cost-Effective Plan: When you use the premium calculator to get quotes from top insurers for your car insurance, you can choose the most cost-effective plan based on your budget and needs. It allows you to get a fantastic deal. With Quickinsure, this process is easier. Our experts can assist you in selecting the best plan for your needs.

Tips To Reduce Car Insurance Premiums

Compare Plans: Always compare the benefits and premiums offered by multiple insurers before buying insurance. You can compare vehicle insurance premiums from numerous insurers with Quickinsure and choose the best coverage for you. Experts at Quickinsure can help you understand the benefits of all plans and select the best coverage. Get in touch with us today!

NCB Transfer: Transfer the No Claim Bonus you have earned to your new vehicle policy to save more on the premium towards your new car’s insurance policy.

Anti-Theft Equipment: Anti-theft devices in your car reduce the chances of your car being stolen. This reduces the insurer’s liability. So, if you have installed anti-theft devices certified by the Automotive Research Association of India (ARAI), you are eligible for a discount on your premiums.

Voluntary Deductibles: Deductibles are the amount paid by the policyholder when making a claim. Increasing your deductibles or opting for voluntary deductibles can help you save money on vehicle insurance. If your deductible is zero, your insurer will cover the entire claim amount in the event of an accident, but your premium will be higher. The higher your deductible, the lower your insurance cost will be. If you are confident in your driving abilities or do not drive regularly, a higher deductible may be a smart option for lowering your premiums.

Factors That Affect Your Car Insurance Premium

Model: Premiums towards insuring luxury cars are higher compared to budget cars. This is due to the higher cost of repairing or replacing parts in luxury or high-end vehicles. As a result, car insurance premiums for luxury or high-end vehicles are higher.

Cubic Capacity: The higher the engine’s cubic capacity, the higher the risk to the insurer. So, the premium for cars with higher cubic capacity tends to be on the higher side.

No Claim Bonus: If you are purchasing auto insurance for the first time, your driving history will have no bearing. For people who have filed a car insurance claim against their policy, the cost of car insurance will rise. However, if the policyholder has never filed a claim before, he or she will be eligible for a discount known as the No Claim Bonus (NCB). This discount is cumulative, increasing with each claim-free year. NCB can reach and stay up to a 50% discount on the car insurance premium and drops to zero when a claim is raised.

Location: In a big city like Mumbai or Delhi, for example, rising traffic, congested roads, and other factors are common causes of accidents. Insuring a car in a tier 1 city will be more expensive than in a tier 3 city.

Frequently Asked Questions

1. How is the policy's premium calculated?

The insured declared value (IDV), the car's RTO location, the car's age, modifications, no claim bonus (NCB), anti-theft devices, the engine's cubic capacity, add-on coverage, and other factors all influence the cost of a car insurance policy.

2.  What is the most highly recommended add-on cover?

The most significant and preferred insurance coverage is zero depreciation. Know more about zero depreciation cover.

3. When is the ideal time to renew your car insurance policy?

To safeguard your interests, it is always a good idea to renew your car insurance policy at least 45 days before the expiry. It is not a good idea to let your insurance policy lapse. This is because if your insurance plan expires, you may lose all of your previously accumulated insurance benefits.

4. What are add-on covers provided by Kotak?

Kotak Mahindra General Insurance Company provides a variety of add-ons including zero depreciation cover, return to invoice cover, consumables cover, tyre protection cover, and more. Find out more details about Go Digit car insurance add-on covers with a detailed article.