IL TakeCare app – For all your insurance & wellness needs

Policy purchase, claims, renewal & more

Install
  • Call Back

    Got questions? Let's talk! Share your contact details and we'll give you a call.

    Please enter the full name
    Please enter valid mobile number
    Please select the product
    Submit

    Thank You for your interest in our product.

    Thank You for your interest in our product. We'll get in touch with you shortly to answer your queries.

  • Live Chat
Chat icon
Call Back
  • Instant e-policy without paperwork
  • Prices starting at just ₹2094B
 

You don’t want to miss this.

By opting out of WhatsApp communication, you’ll lose out on:

  • Your personalised quote delivered directly on WhatsApp
  • WhatsApp notification on policy information, updates & announcements

Understand your vehicle registration number

Your vehicle registration number is the unique vehicle identification number issued by Regional Transport Office (RTO) and mentioned in your vehicle RC book. The vehicle registration number is printed on license plate and affixed to your vehicle.

Kindly note: While entering your vehicle registration number, please be careful about similar looking characters and number, like alphabet ‘O’ being used in place of number 0 or vice-versa.

  • 1 The first two letters together indicates the state in India where the vehicle is registered.
  • 2 The second group comprises two numbers, which represents RTO district code.
  • 3 The last group is usually a unique combination of a character(s) and four digits. If it’s 0001, please enter all the four digits and not just 1.

What is a Car Insurance Premium Calculator?

Your car is more than just a way to get from point A to B. You maintain it, protect it, and rely on it every day. But protection is not just about servicing and fuel checks. It also means having the right car insurance in place. That is where a car insurance premium calculator comes in.

A car insurance premium calculator is an online tool that helps you estimate the premium you need to pay for your car insurance policy. Instead of guessing or relying on rough figures, you get a near-accurate quote based on key details like your car’s make, model, age, location, and the type of coverage you choose.

Car Insurance Calculator Help

How Does a Car Insurance Calculator Help You?

Buying car insurance is not just about getting a policy. It is about getting the right coverage at the right price. A car insurance premium calculator makes that decision simpler and smarter. Here is how it helps:

  • Instant premium estimates: Get a quick idea of how much your car insurance will cost without lengthy paperwork.

  • Better coverage decisions: Compare different plans and add-ons to see what fits your needs and budget.

  • Avoid underinsurance or overpaying: Helps you strike the right balance—so you are neither underinsured nor paying extra for unnecessary coverage.

  • Customised quotes: Premiums are calculated based on your specific inputs, giving you more accurate results.

  • Saves time and effort: No need to contact multiple insurers. Everything is available in one place, instantly.

Car Insurance Calculator Help

How to Use a Car Insurance Premium Calculator?

If you have been putting off using a car insurance calculator because it sounds technical, you are overthinking it. It is built to simplify things, not complicate them.

Here is how to go with it:

  • Enter your car registration number, phone number, and email address.

  • Select "Get Quote”. You will be asked for your car model and date of purchase on the next page.

  • Select the type of coverage you want: comprehensive, standalone own damage, or third-party only.

  • Choose any add-ons you want to include, such as zero depreciation or engine protection.

  • Submit the details. A quote based on your car specifications and chosen coverage appears instantly.

That is it. No agent required. No hard effort.

How is Car Insurance Premium Calculated in India?

  • Car insurance price calculation is simpler and comes down to two components: the own damage premium and the third-party premium.
  • Total Premium = Own Damage Premium – (No Claim Bonus + Discounts) + Third-Party Premium + Cost of Add-ons
  • The third-party premium is fixed by the regulator and depends on your car’s engine capacity. This part does not change from one insurer to another.
  • The own damage premium, however, is where most of the variation happens. It depends on factors like your car’s Insured Declared Value (IDV), age, model, and usage. A higher IDV increases your premium, but it also increases the claim amount you receive in case of total loss.
  • Other elements also play a role. Your No Claim Bonus reduces the premium if you have not made claims in the past. Your voluntary deductible can lower the premium if you are willing to share a part of the risk. Add-ons increase the premium but also strengthen your coverage.
  • Once you see how these pieces fit together, a car insurance price calculation starts to feel less like a puzzle and more like a set of clear trade-offs.

Factors Which Determine Car Insurance Premium

Your car is just one part of the equation. Where you live, how you drive, and what features your car has all play a role.

Here is what actually moves the number on your car insurance premium calculator:

Insured Declared Value (IDV)

IDV is the current market value of your car. A higher IDV means a higher premium, but also a higher payout if something goes wrong. It is calculated by deducting depreciation from the manufacturer's price. You can adjust the IDV in the calculator to see how it affects your quote.

Age of the Car

Cars do not hold their value all the time. As they age, their market value drops, and so does their IDV. A newer car comes with a higher IDV and, in turn, a higher premium. As the car gets older, both the IDV and the premium come down.

Make, Model, and Variant

A compact hatchback and a premium SUV are not priced the same, in the showroom or on an insurance policy. Spare part costs, repair expenses, and theft likelihood all vary by model and affect the premium accordingly.

Geographical Zone

Cars registered in Tier 1 cities fall under Zone A and attract higher premiums. Tier 2 and Tier 3 cities fall under Zone B with comparatively lower rates. Higher traffic and theft risk in larger cities is what drives the difference.

No Claim Bonus (NCB)

Every claim-free year earns you a discount on your renewal premium. Filing a claim for a minor dent might feel convenient, but it resets that bonus. Worth thinking about before you file one.

Add-On Covers

Zero depreciation, engine protection, roadside assistance, and consumables cover. Every add-on adds to the premium. Choose what your trip and car actually need.

Fuel Type

The type of fuel your car runs on affects the premium. Petrol vehicles generally attract a lower premium compared to CNG or diesel.

Voluntary Deductible

If you are a careful driver and willing to pay a portion of repair costs yourself, a voluntary deductible brings the premium down. A fair trade if your track record supports it.

Anti-Theft Devices

Cars fitted with ARAI-approved anti-theft devices are eligible for a discount on the own damage premium. Good for your car and your wallet.

Read more
Documents Required for Filing a Bike Insurance Claim

Details Required to Calculate Car Insurance Premium

You do not need a file full of documents. Just keep the following handy:

  • Car registration number and date
  • Registration location
  • Manufacturing year
  • Car manufacturer and model
  • Fuel type
  • Previous policy details
  • No Claim Bonus, if any

Once submitted, the car insurance calculator generates a quote instantly.

Benefits of a Car Insurance Calculator

Calculating a premium manually is like doing long division when a calculator is sitting right there. Here is why the car insurance calculator is worth using:

Instant Quotes

No inbox waiting. No calls. Enter your details and get a quote in minutes.

Compare Multiple Plans

Not sure which plan suits you best? Run the numbers on different coverage types and add-ons side by side before deciding.

Free to Use

No charges, no hidden fees. The quote is yours at no cost.

How Do You Calculate the Premium for New and Old Cars?

A brand new car and one that has seen a few monsoons are not priced the same. Here is how the car insurance premium calculator handles both:

New Car

  • Premiums for new cars are higher because the IDV is at its peak. The calculation is straightforward. Enter the make, model, variant, and registration city, and the calculator does the rest.

Old Car

  • For older vehicles, depreciation is factored into the IDV, which brings the premium down. More details are needed, including the vehicle age, model, and past policy information, but the quote still arrives instantly.

How to Reduce the Car Insurance Premium?

Bargaining may not be an option. But these are:

Install Anti-Theft Devices

ARAI-approved anti-theft devices make your car harder to steal and your premium easier to bear. Insurers offer discounts for cars fitted with approved devices.

Protect Your No Claim Bonus

A claim-free year earns you a discount at renewal. Five consecutive claim-free years can get you up to 50% off. Think twice before filing for minor damage.

Choose a Voluntary Deductible

Agreeing to pay a portion of repair costs yourself signals low risk and brings your premium down. A good option if you are a careful driver with a clean record.

Third-Party Liability Car Insurance Premium Rates 2026

Third-party insurance is not optional. The Motor Vehicles Act requires every car on the road to have it at a minimum. These rates are set by IRDAI and are uniform across all providers:

Here are different NCB slabs:

Car Engine’s Capacity Third Party Premium Rate (In Rs)
Less than 1000cc 2094
1000cc - 1500cc 3416
Above 1500 cc 7897

Note: Rates are based on the last notification published by MoRTH and IRDAI and are subject to revision. Check the latest rates at the time of purchase or renewal.

Electric vehicles get a 15% discount on third-party premiums. Hybrid cars get 7.5%.

Frequently asked questions on car insurance calculation

How to calculate vehicle insurance?

You can use a car insurance premium calculator to calculate the vehicle insurance premium in minutes. All you need to do is enter information such as your vehicle model and make, location, type of coverage, registration date, add-on covers, and NCB, and the tool will provide you with an estimate in minutes.

What is the basic premium in car insurance?

The basic premiums in car insurance are set by IRDAI. It is called third-party insurance cover, which offers a payout if you damage a third-party vehicle or property. This is different from own damage cover, wherein you’re also covered against any damage to your own vehicle.

Does the vehicle model impact the car insurance premium?

Yes, it is a significant driving factor of your car insurance premium. As the model and make of your vehicle affects its worth, it also affects the insurance premium. For instance, a premium sedan will have a higher insurance premium than a compact hatchback.

How can the car insurance calculator help determine the car insurance premium?

A car insurance calculator gives you an estimate of the premium you will be paying as part of your car insurance policy. You just have to enter a few basic details, and the calculator will compute a quote for you.

How much is insurance for a 10-lakh car?

Even though there’s no fixed number, and it depends on the specific model and engine specifications, you can expect a comprehensive car insurance policy to range anywhere between Rs 8,000 and Rs 15,000 per year. The mandatory third-party component starts at Rs 2,094 per year, which only covers you against any damage caused to the other vehicle in the accident.

Can I pay car insurance premiums in instalments?

Not directly. IRDAI requires the full premium to be paid upfront. However, you can pay via credit card and convert the transaction into EMIs through your bank.

Does the location of the car affect the car insurance premium?

Yes, the location of the registration of your car affects the premium. As some cities are more prone to accidents and theft, due to crime rates and traffic, insurance premiums are higher in such cities, including metropolitan (Tier 1) cities.

If I make modifications to my car, will it affect my car insurance premium?

Yes, any modifications made affect your car's premium because it affects your car’s market value. It is important to disclose the same to your insurer to avoid any issues at the time of claim settlement.

How much is insurance for a 20-lakh car?

There’s no fixed number. However, taking a rough estimate, a car costing this much places the engine and car specifications at the higher end. This increases the basic third-party premium determined by IRDAI; hence, the premium for a comprehensive car insurance cover plan can be anywhere between Rs 18,000 and Rs 30,000 per year.

Is car insurance higher on a new car?

Yes, a new car does have a higher IDV, which increases its market value and ultimately the premium.

How is the car insurance renewal premium calculated?

Basic details, such as the type of policy, NCB, IDV, and car registration dates, are considered to calculate the car insurance renewal premium.

How can I find out the payable car insurance premium?

You can use an online car insurance premium calculator to find out your payable car insurance premium.

Which insurance is right for a new car?

A comprehensive car insurance cover is always the right choice for new cars as it covers both the third-party and own damage.

How long do you have to get insurance on a new car?

According to the Motor Vehicles Act, you cannot drive on the road without a basic third-party premium cover. IRDAI mandates new car owners to have at least a three-year third-party insurance.

I want to obtain an insurance quote for my car. Where can I find a car insurance premium calculator?

It’s there on the ICICI Lombard website.

What are the factors that affect the car insurance premium?

Factors like depreciation rate, IDV, location of registration, NCB, and type of policy all affect the car insurance premium.

Does the car insurance calculator provide a breakdown of the insurance quote?

Yes, the car insurance calculator provides a breakdown of the insurance quote. You can see all the components that computed the final estimate, including the own damage element, NCB discount, and individual add-ons.

Can I avail a discount on insurance premiums even if I am insuring a new car?

Yes, there are multiple ways by which you can avail discounted premiums. For starters, you can install ARAI-approved anti-theft devices. If you’re a member of the Automobile Association of India, you can get a specialised concession.

Will my car insurance premium be lower if I only avail third-party insurance as compared to a comprehensive car insurance?

Yes, you will get a lower car insurance premium if you only avail third-party insurance. However, you must know that it will only cover you against the damage caused to the third-party vehicle and not your own. It is always advisable to go for a comprehensive cover that provides broader protection.

Popular Searches

Popular Searches

Health Insurance Bike Insurance Travel Insurance Vehicle Insurance Car Insurance Blogs Knowledge Center What is Roadside Assistance Zero Depreciation in Car Insurance Comprehensive Car Insurance Engine Protect Car Insurance Third-Party Car Insurance Cashless Car Insurance Model based Car Insurance Car Insurance in Ahmedabad Deductible in Car Insurance Car Insurance in Jaipur Car Insurance Coverage Second Hand Car Insurance Car Insurance in Nashik Consumable Car Insurance IDV in Car Insurance Car Insurance in Gurgaon No Claim Bonus in Car Insurance

Hi there!

Let us help you explore and buy a new policy.

Chat now
Available 24 x 7

Error message here