SBR Network
  • Home
  • About SBR
  • Topics
    • Business & Markets
    • Economy
    • Education
    • Entertainment
    • Finance
    • Food & Drinks
    • Healthcare
    • Home
    • News
    • Sports
    • Technology
  • Contact SBR
  • Pages
    • Team Info
    • Privacy Policy
    • Editorial Policy
    • Cookie Policy
No Result
View All Result
SBR Network
  • Home
  • About SBR
  • Topics
    • Business & Markets
    • Economy
    • Education
    • Entertainment
    • Finance
    • Food & Drinks
    • Healthcare
    • Home
    • News
    • Sports
    • Technology
  • Contact SBR
  • Pages
    • Team Info
    • Privacy Policy
    • Editorial Policy
    • Cookie Policy
No Result
View All Result
SBR Network
No Result
View All Result

Know How to Calculate Premium with Car Insurance Calculator

Nicole Haley by Nicole Haley
3 years ago
in Finance
0
Know How to Calculate Premium with Car Insurance Calculator
411
SHARES
2.4k
VIEWS
Share on FacebookShare on Twitter

Summary

If you have car insurance, you ought to pay a premium regularly to keep the plan active and avail its benefits. If you are wondering how much premium should you pay, read on to know how to calculate the premium using a car insurance premium calculator.

Today, owning a car is not just a status symbol but is a necessity. So, if you a car owner, you must keep your asset protected against all kinds of risks by buying a robust car insurance policy with sufficient sum insured. Also, having valid car insurance is a legal requirement. The insurance companies in India offer a variety of plans with varying premiums. So, how do you calculate the premium amount? You can use the car insurance premium calculator.

What is a car insurance premium calculator?

A car insurance calculator is an online tool that allows you to calculate the exact premium amount you must pay towards your plan. Today, almost all reputed insurance companies in India have online car insurance calculator on their website to help the potential customers determine the premium for the plan they choose.

How to calculate the premium using a car insurance premium calculator?

The method for calculating the premium depends on the type of car you drive.

Calculating the premium for a used car

If you drive a used for a second-hand vehicle, you must enter the following details in the calculator:

  • Type of car
  • Fuel type
  • Existing policy details
  • Car registration number
  • Claims made

Once you enter the details, the calculator will automatically estimate the premium amount you must pay for the plan you choose.

Calculating the premium for a new car

If you drive a new car, the details required to know the premium are slightly different. For calculating the premium, you must enter the following information in the calculator:

  • Car manufacturer’s name and year of manufacture
  • Car model
  • The city/state of registration
  • Owner’s personal information (name, age, sex, occupation, income, etc.)

Based on the information you provide, the calculator will estimate the premium amount applicable to the policy you choose.

The formula for calculating the car insurance premium

No matter, if you wish to calculate the premium for a used car or a new car, the car insurance calculators use a standard formula to determine the premium amount payable. The formula is:

Premium – own damage premium – (no claim bonus + discounts) + liability premium as determined by the IRDAI + add-on cost

You can use the above formula to calculate the premium manually, but when you compute manually, there is always a risk of miscalculation or human error. Hence, it is better to use the calculator and avoid complex calculations. Apart from help you know the precise premium payable, using a car insurance premium calculator has several benefits, including:

  • Knowing the exact premium payable beforehand allows you to plan your finances well to include the premium payment in your budget
  • You can change the variables multiple time to arrive at a premium that is affordable to you. Also, you would know how different variables affect the premium rate
  • It allows you to compare the premium prices of different plans and choose the best one to suit your needs and with affordable premium
  • The calculator is easy to use; you can use it even with no technical knowledge and get results instantly
  • It makes the overall insurance purchase process simple and convenient.

Now, that you are aware of the calculator works, it benefits and how you can use it to calculate the premium, make sure to use it to your advantage and get the best policy for your car.

Previous Post

Why Should Car Insurance Cover Be Compared?

Next Post

Creating SEO Content: Should You Write for People or Search Engines?

Nicole Haley

Nicole Haley

Next Post
Creating SEO Content: Should You Write for People or Search Engines?

Creating SEO Content: Should You Write for People or Search Engines?

  • All
  • Education
Reputation Poll International’s 2023 List of 100 Most Reputable Africans Adds Distinguished Lawyer NJ Ayuk 
Law

Reputation Poll International’s 2023 List of 100 Most Reputable Africans Adds Distinguished Lawyer NJ Ayuk 

by Nicole Haley
March 2, 2023
0

NJ Ayuk has been sitting at the head of Africa’s energy table for quite some time now, and remains one...

Read more
Your Guide to Online Doctor’s Notes

Your Guide to Online Doctor’s Notes

February 17, 2023
You Will Never Believe These Bizarre Truths Behind Accident Attorneys

You Will Never Believe These Bizarre Truths Behind Accident Attorneys

January 27, 2023
What Makes Blood Vessels Grow?

What Makes Blood Vessels Grow?

January 24, 2023
SEO: What Is It and How Does It Work?

SEO: What Is It and How Does It Work?

January 6, 2023

Recent Posts

  • Reputation Poll International’s 2023 List of 100 Most Reputable Africans Adds Distinguished Lawyer NJ Ayuk  March 1, 2023
  • Your Guide to Online Doctor’s Notes February 17, 2023
  • You Will Never Believe These Bizarre Truths Behind Accident Attorneys January 27, 2023
  • What Makes Blood Vessels Grow? January 24, 2023
  • SEO: What Is It and How Does It Work? January 6, 2023
  • 2022’s Best Batsmen and Bowlers: Who Will Come Out on Top? December 30, 2022
  • Easy Ways To Up Your Game While Betting On Cricket Online December 30, 2022
  • How To Win More Money Horse Racing: Tips To Optimize Your Odds December 16, 2022

Archives

  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
March 2023
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031  
« Feb    
Your Guide to Online Doctor’s Notes
Healthcare

Your Guide to Online Doctor’s Notes

An online doctor's note is a document obtained by a patient through a virtual medical consultation. It verifies their medical ...

February 17, 2023
What Makes Blood Vessels Grow?
Healthcare

What Makes Blood Vessels Grow?

Blood vessel growth is essential for fast and effective wound healing. The more blood vessels, the quicker new tissue can ...

January 24, 2023
10 Ways to Protect Your Mental Health at Work
Healthcare

10 Ways to Protect Your Mental Health at Work

No matter what you do for a living, work impacts the state of your mental health — for better or ...

June 11, 2022
Is Your Vape Juice The Right One For You?
Healthcare

Is Your Vape Juice The Right One For You?

Are you a vaper who switches their current vape flavour as often as possible, or have you found a tasty ...

April 13, 2022
Perception towards Online Movie Watching Has Been Changed
Entertainment

Perception towards Online Movie Watching Has Been Changed

Online films are a kind of video made explicitly to be watched on the web, for the most part on ...

February 25, 2022

Categories

  • Business & Markets
  • Economy
  • Education
  • Entertainment
  • Finance
  • Food & Drinks
  • Gambling
  • Healthcare
  • Home
  • Insurance
  • Law
  • Life
  • News
  • SEO
  • Sports
  • Technology
  • Travel
  • Wine

Recent News

Reputation Poll International’s 2023 List of 100 Most Reputable Africans Adds Distinguished Lawyer NJ Ayuk 

Reputation Poll International’s 2023 List of 100 Most Reputable Africans Adds Distinguished Lawyer NJ Ayuk 

March 2, 2023
Your Guide to Online Doctor’s Notes

Your Guide to Online Doctor’s Notes

February 17, 2023
  • About
  • Our Team
  • Advertise
  • Privacy Policy
  • Get In Touch

@ 2022 SBR Network.

No Result
View All Result
  • About SBR Network News
  • Contacting SBR Network
  • Cookie Policy
  • Editorial Policy
  • Get In Touch
  • Home
  • Home
  • Privacy Policy
  • Team Info

@ 2022 SBR Network.