A car insurance calculator is an online tool that helps you calculate the insurance premium. With the help of this tool, you can compare various insurance policies and find out the most affordable plan.
Read this article to know more about the car insurance calculator.
A car insurance calculator can help you find the premium that you will have to pay to purchase a policy. By using this calculator, you can select a car insurance plan that fits in your budget. You can calculate the premium by entering a few details.
With that in mind, here are some benefits of using a car insurance calculator-
- With the help of a car insurance calculator, you can compare multiple policies. This way, you’ll be able to find the most affordable plan based on your requirements.
- Using a car insurance calculator doesn’t require a lot of effort. You need to enter a few details in the calculator to find out the premium.
- You can change the variables multiple times in order to find out the right premium.
Factors that Impact the Premium
Here are some of the factors that impact the premium-
- Your Age
Your age has an impact on the premium. For example, if you are below 25 years of age, then you might have to pay a higher premium.
- Your Car’s Make, Model, and Variant
The premium amount of an expensive car will be higher than a standard car.
- Car Registration Location
If you live in a low-traffic area, then your premium amount might be lower. However, if you live in an urban location, then your premium amount will be higher.
- Fuel Type and Cubic Capacity of Your Vehicle
The car insurance premium is different for petrol, diesel, etc. cars. Furthermore, your car’s cubic capacity impacts the premium. You will have to pay a higher premium if the cubic capacity of your vehicle is high.
- Installation of Anti-Theft Devices
You might have to pay a lower premium if you install anti-theft devices.
How to Use a Car Insurance Calculator
You can easily use a car insurance calculator. You are required to enter some details to find out the premium.
Car Insurance Calculator for New Cars. The details that you need to enter are-
- Registration Date
- Registration City
- Model
- Manufacturer
- Sum Assured
- Type of Insurance (Third-Party Car Insurance or Comprehensive Car Insurance)
- Add-Ons
- Personal Details
Car Insurance Calculator for Used Cars. Below are the details you are required to enter-
- Registration Date
- Registration City
- Model
- Manufacturer
- Fuel Type
- Type of Insurance (Third-Party Car Insurance or Comprehensive Car Insurance)
- Sum Assured
- Existing Car Insurance Policy Details (If Any)
- Details of Change in Car Ownership
- Personal Details
Based on the details you enter, the insurance calculator for car will provide you with an estimated premium.
Why Should You Use a Car Insurance Calculator?
Buying a car insurance policy isn’t hard. However, selecting the most affordable plan that meets all your requirements might require some effort. A car insurance calculator can be of great help in such a situation. This calculator will allow you to compare various plans based on their prices and benefits. Therefore, you should use a car insurance calculator if you are looking for car insurance.