Car Insurance Calculator

What is Car Insurance Calculator?

A car insurance calculator is an online tool that helps you to calculate your estimated premium on your car insurance policy. The car insurance calculator also helps you to customize your car insurance policy by selecting optional add-ons that would provide better coverage to your car.

The online car insurance calculator offered by us will allow you to determine the amount of premium for the insurance you purchase and will let you make the right choice.

Calculate Car Insurance Premium


Benefits of Car Insurance Calculator?

Car insurance premium: With the help of a car insurance calculator, you can compare the premium of different Kotak Car Insurance plans provided by us. The tool allows you to customise the IDV of your car and displays you the impact on car insurance premium. Various discounts are available at Kotak General Insurance on Kotak Car Insurance plans.

Optional Add-ons: Kotak General Insurance provides various add-ons that provide you with additional coverage for your car. With a car insurance calculator, you can decide the extra premium you are willing to pay to ensure extra protection for your car.

Car Insurance Quote for Old & New Car: You can get car insurance quotes for an old and new car. Kotak Car insurance Calculator Works for both old & new cars.

Ease of Use: Insurance agents do not have to come to your home or spend hours on the phone with you. You can check prices & features of car insurance online on your mobile. It's that easy!

Prudent Decisions Are Easy to Make: Learn more about the factors that affect your car insurance premium by using a car insurance premium calculator. This knowledge helps in making an informed choice.

How is Car Insurance Premium Calculated?

Using this simple formula, you can better understand the calculation of car insurance premiums.

Premium = Own Damage Premium - (No claim bonus + discounts) + Liability Premium as Fixed by the IRDAI + Cost of Add-ons

The following is a sample car insurance calculation for your reference

Year of Manufacture 2012 Comprehensive Policy with NCB (all values in Rupees)
Ex Showroom Price 4,16,000 (X)
Depreciation Percentage 20% * X Rs.83,200 (Y)
Insured Declared Value (IDV) 3,32,800 (X - Y) Rs.3,32,800 (Z)
Own Damage Premium 1.970% Rs.6,556 (A)
NCB discounts 20% * A Rs.1,311 (B)
Total OD Premium 5,425 (A - B) Rs.5,245 (C)
Personal Accident Cover 100 (D)
Legal Liability Paid to driver 50 (E)
Compulsory Third Party Cover 1,110 (F)
Net Premium 6,505 (C + D + E + F) Rs.6,505 (G)
GST @ 18% 18% * G Rs.1,171 (H)
Total premium 7,676 (G + H) Rs.7,676

Parameters that influence car insurance premium

The insurance premium for any vehicle depends on several factors. The most significant ones include the following:

  • Car model
  • The insurance premium amount will depend on the type of car you own. It includes specifics like the car make, model, motor transmission type, and fuel type. For instance, cars belonging to the Mercedes Benz or Volvo families will have a higher premium in comparison to a Maruti.

  • Type of cover
  • Your premium will be based on the type of insurance cover you choose. You could either opt for a comprehensive cover that includes you, your vehicle, and third-party liability or you could only opt for a third-party liability only.

  • Age of the vehicle
  • The age of the car or insured declared value (IDV) of the car will reflect the value of the vehicle. Based on the same, the premium will be determined. The higher the IDV, the higher will be your premium.

    • Location
    • Based on the location where your vehicle is registered, the insurance premium will be calculated. This is primarily due to the difference in traffic conditions in a big and a small city. Therefore, a car registered in a metropolitan city will carry a higher premium than the one registered in a small town.

    How to use Kotak Car Insurance Calculator?

    To use the car insurance calculator

    • Click on the calculate premium
    • Enter your vehicle registration number
    • Enter your details such as mobile number, email address
    • Provide make-model of your car
    • Click on get quote

    Calculate Car Insurance Premium


Frequently Asked questions about Car Insurance Calculator

Of course, you may have more questions related to car insurance calculator, so scroll down and find your question answered!

Q. What is Car Insurance Calculator Online?

A. A car insurance calculator is a free online tool that calculates the approximate premium you would have to pay for your car insurance policy.

Q. How does Car Insurance Calculator work?

A. The car insurance calculator requires you to input a few details such as your vehicle registration number, mobile number and email address, make-model of your car, NCB discount, etc and you can get a quote basis the information.

Q. What are the benefits included in car insurance calculator?

A. A car insurance calculator helps save your time and instantly tells you approximate premium amount. You can decide which optional add-ons you want to add to your car insurance policy. Also, the car insurance calculator helps you to check your discount on the premium at the time of car insurance renewal..

Q. What are the steps to use online Car Insurance Premium Calculator?

A. • Click on the link.
• Enter your vehicle registration number, mobile number and email address
• Enter car details such as make – model
• Provide details of your previous policy, NCB Discounts, etc
• Click on Get quote

Q. How is the premium calculator helpful in determining the premium paid towards car insurance?

A. The car insurance calculator helps to know the premium you would have to pay before zeroing on the policy. You can also decide the premium you are willing to pay to have additional coverage by selecting specific optional add-ons with your car insurance policy.

Q. Does the car insurance calculator help calculate the premium of a used car?

A. Yes, it does. You will have to enter the vehicle registration details, your phone number and email address.

Q. How does a car insurance premium calculator help during policy renewal?

A. During car insurance policy renewal, the car insurance premium calculator calculates the premium after deducting the No claim Bonus if you have any. It also calculates the premium if you choose a new rider for your car insurance policy.