TATA AIG 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 TATA AIG 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 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.

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.

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 raisesthepremium.

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.

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.

Depreciation: Depreciation is the gradual loss of an asset's value due to normal wear and tear over time. As the car grows older, it’s 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.

Frequently Asked Questions

Q1. What is meant by insurance premium?

Ans: A premium is the amount of money paid for an insurance policy by an individual.

Q2. How is the policy premium determined?

Ans: 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 pricing for a car insurance policy.

Q3. When is the ideal time to renew your car insurance policy?
Ans: 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.

Q4. What is NCB?

Ans: NCB is a reward that the policyholder gets for each claim-free year. Know more about NCB.