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Insurance Article

Know the exact premium payable with an insurance calculator for car policies

November 28 2012

It can be very useful to have more than the bare minimum required coverage as your vehicle is insured from a number of risks that could arise from unfortunate incidents. An event like natural calamity, theft or an unpredictable accident can leave you in a financial lurch when you least expect it. So you can opt for a comprehensive cover and can know the amount you have to pay with the help of insurance calculator for car policies.

Firstly, the amount can be decided on the covers you wish to insure your car with. There are a number of risk covers along with add-on covers which you can avail of. So, it becomes necessary to know exactly what your requirements are along with a low down of what all does each risk over offer a policy holder.

When you look for quotes, choose the best car insurance policy which provides maximum cover. Cover for Third Party Liability , Personal Accident and Own Damage are the most important covers you should look for. You can surely get all these in a good comprehensive policy and the premium for the same is split in the above three categories.

Third Party (TP) liability cover is mandatory for every car driven on Indian roads and failure to do so can have you paying a hefty amount in fine or worse. A TP liability cover takes into account any damage to another’s property, permanent injury to another person or even death. It also covers any legal liabilities that could be a result of an accident. This cover is included in every car quote when calculating the premium amount.

More often a Personal Accident cover is inclusive in the policy and otherwise requires the buyer to pay a minimal premium amount. Lastly, Own Damage (OD) Risk cover premium amount has a flexible structure. Own Damage Risk covers your car in case of accidental damage and gives you a number of benefits in return like access to a network garages among others. An insurance calculator for car policies allows you to know the exact amount as the OD premium can change if the person opts for a voluntary deductible. Voluntary deductible is the amount you agree to pay if you have to make a claim. The higher a deductible chosen, more is the discount.

Thus, you can know the exact amount you are likely to pay for optimum coverage to your car with the best car insurance policy.

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