NATIONAL 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 National 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

Timely Renewals: Renewing your car insurance policy on time saves you a lot of hassle. If you don’t renew on time, you might risk losing your accumulated No Claim Bonus.

Buy Online: When you buy insurance online, you can compare plans from various insurers to choose the most cost-effective plan.The icing on the cake? It is easy, fast, and paperless!

Upgrades and Modifications: If any alterations are done to your car, be it installing a CNG kit or an electronic device, your insurance premium is affected. You need to intimate the insurer about such an alteration as if you don’t inform, your claim may be rejected later. Any modification that increases the risk raises the insurance premium. For example, any change to the engine/mechanics to increase power/ acceleration raises the risk and raises the premium.

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

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.

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.

Frequently Asked Questions

1. How are third-party insurance premium rates calculated?

Third-party premiumsare calculated on the basis of the cubic capacity of the vehicle according to the slabs pre-decided by the government. This is why TP rates are the same for a particular vehicle with any insurer.

2. How is the policy premium determined?

The IDV, RTO, age of the car, modifications, NCB, anti-theft devices, engine's cubic capacity, add-on coverage, age of the owner impact the pricing for a car insurance policy.

3. When is the best time to get my car insurance policy renewed?

The best time to renew the car insurance policy is 45 days before the policy expiry date.

4. What are add-on covers provided by National Insurance Company?

National Insurance Company provides a variety of add-ons including nil depreciation cover, invoice protect, engine protect, NCB protect, and more. Find out more details about National car insurance add-on covers with a detailed article.