LIBERTY 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 Liberty 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: Themain 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

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.

Add-on Covers: There is a wide variety of add-on covers available with insurers. These add-ons come at an added premium. The more the addons, the more the premium. So, make it a point to buy only the ones that fulfill your specific requirements.

Avoid Small Claims: Avoid making claims for minor damages like scratches, dents, and other small damages as you will lose your No Claim Bonus. NCB is a reward that the policyholder gets for each claim-free year. Know more about NCB.

Factors That Affect Your Car Insurance Premium

Depreciation: Depreciation is the gradual loss of an asset's value due to normal wear and tear over time. As the car grows older, its value decreases and thus premium also decreases.

IDV: IDV is the current market value of the car. The value decreases every year due to depreciation. The older the car, the less the value of the car. This means that insuring an old vehicle will be less expensive than insuring a new vehicle.

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.

Frequently Asked Questions

1. Can the model of my car affect the insurance premium amount?

Yes, the make, model, and sub-model affect your car insurance premiums. Insurance premium for luxury cars is more as compared to budget cars.

2. What is the premium amount based on?

The Insured Declared Value (IDV), RTO location of the Car, age of the car, modifications, No Claim Bonus (NCB), anti-theft devices, engine's cubic capacity, add-on coverage, age of the owner, and other factors all impact the premium for a car insurance policy.

3.What is the benefit of using a car insurance premium calculator?

Using Quickinsure Car Insurance Premium Calculator helps you understand which factors affect your insurance premium, and how much the policy is going to cost you. It enables you to compare the costs and benefits of various plans available with the insurers.

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

Liberty General Insurance Company provides a variety of add-ons including depreciation cover, gap value cover, consumables cover, and more. Find out more details about Liberty car insurance add-on covers with a detailed article.