This is the case with many individuals and can be easily tackled with a car insurance premium calculator.
To simplify matters, it would help if you enlighten yourself with the knowledge of what makes up the structure of your insurance premium. When you take a comprehensive motor insurance, your premium may divided into three different parts for three covers. The first one is the third party (TP) liability Premium. This is a mandatory cover that every vehicle must have as per the law.
Also, the TP liability premium is the same across all insurance companies as it is governed by the Insurance Regulatory and Development Agency (IRDA). third party liability premium is the one you pay for safeguarding you from the legal costs or the compensation you may have to pay another person in case of an accident.
Every car insurance coverage plan gives personal accident cover at just a nominal cost. But this may not be the case with a comprehensive insurance plan as it could be inclusive in the total premium amount.
The third and final one is the own damage (OD) premium you pay. This can differ from one insurance company to the other. It covers your against the accidental damage that could happen to your car in case of an unfortunate event like natural calamity, theft or accident.
This premium may be reduced as per the wish of the buyer by making use of voluntary deductible (VD). If you opt for VD you have to be prepared to pay a minimum amount in case of a claim. The higher your VD rate, higher is the discount you get on your OD premium. You can take the help of car insurance premium calculator if you want to get an accurate amount.
Another way of saving on your OD premium is by the way of no claim bonus (NCB). This is the discount you can get on your premium if you have not made a claim in the previous insurance year. If you do make a claim in consecutive years you are likely to get a higher premium.
If all of this is too confusing for you, then you could simply take the help of a premium calculator. This way you can know the accurate amount you will have to pay for a comprehensive car insurance coverage plan.