As having a car insurance is mandatory in India, it is vital that you as a car owner buy an insurance that covers all your insurance requirements and protects you from any future liabilities. Due to the increasing demands for online purchase of insurance, most of the insurers now have online websites where you can buy or renew a car insurance policy online. These websites have a special tool to calculate your car insurance premium based on the data you provide for the specified parameters. This tool that they use is called a Premium Calculator.
Car Insurance Premium Calculator is an online calculator provided by insurers on their website for hassle-free and paperless calculation and approval of a car insurance premium. The calculator uses the data that you provide for the specified parameters to calculate and come up with the right premium amount.
Car Insurance Premium Calculator comes with really interesting features that make it every car owner’s favourite:
The modern era that we live in demands everything to be easy and hassle-free, this is why we have a number of technologically advanced systems and machines that make our life easier. Car Insurance Premium Calculator is also one such technologically sophisticated program to help car owners calculate their premiums instantly.
Using a car insurance premium calculator is easy and straightforward. The calculator has a simple program interface that makes it easy for any customer to come online and use it without any assistance. The calculator present on the web page will have a number of parameters asking for personal details, vehicle details, etc. that need to be filled in with accurate information by the consumer. Your only job is to provide relevant and accurate data against these parameters. After you have provided all the necessary information, you need to click on the ‘calculate’ button that appears on the bottom of the web page. As soon as you click on the button, the calculator takes all the information provided by you and starts assessing them to calculate your insurance premium. Once the insurance premium is calculated, the calculator will quote the premium on the webpage. You will have the option to agree or disagree with the quoted premium as per your judgment. If you do agree with the quote, you will be directed to another page that may require you to fill in further details as requested by the insurer. After this, you will be redirected to the payment page where you need to pay your premium and buy the insurance.
Car insurance premium depends on a number of variables and can vary from person to person depending on certain factors:
When you buy Insurance for a new/used car:
When you renew motor policy from the same insurer
When you renew motor policy from another insurer
*Please note that there could be slight variations in parameters used by the premium calculator depending on the insurer.
Car insurance premium renewal is similar to buying a car insurance for the first time. You need to provide details for the parameters mentioned above and let the calculator do the rest. Apart from this, you also need to schedule a survey appointment with the insurance executive, this is mandate part of the renewal process. The executive comes and checks your vehicle for any pre-existing damages. You can book the appointment via the online website of the insurer. You can renew your car insurance before it expires or after an accident and claim settlement.
If you are unaware of ways to reduce your insurance premium, here are few tips that might help you: