How To?

Calculate & Compare Car Insurance Premium Online to Choose the Best Policy


What do you do if you need to buy a shoe? You go to multiple stores, check out the options, and choose the best one. Again, with new buying platforms, selecting a shoe has become more easy, right? Simply search the many choices, compare them, and make your purchase with a few clicks.

Purchasing car insurance online plans cover is no exception. You look for the many choices insurance firms provide, compare auto insurance plans, and choose the one that best meets your needs.

How To Assess Car Insurance Premiums?

It is simple to find car insurance premiums with a calculator. An online car insurance calculator is a simple tool that assists you in locating the best car insurance policy. It is based on the information you provide. This saves you time by promptly presenting correct facts, allowing you to make the right choice with ease.

How to Use an Online Car Insurance Premium Calculator

You must submit basic data to build up the car insurance online. The following are the methods to get the insurance plan with the car insurance online calculator:

  • Choose your vehicle’s make, model, version, and fuel type.
  • Select the right registration place for your vehicle.
  • Choose the year you got your vehicle.
  • To confirm if you claimed the insurance in the prior year, choose ‘Yes’ or ‘No.’

Following that, you must type your name and phone number. You will receive an OTP on your cell phone, which you must input to find the calculated figures.

Type of Car Insurance Policies

There are two kinds of car insurance covers:

  1. Car insurance for third parties
  2. Car insurance that covers all

The first is a liability-only plan, which is needed by the Motor Vehicles Act of 1988 for all vehicle owners. This insurance limits your money liability for third-party cars, assets, or other damages caused by your vehicle.

In contrast, the other insurance plan offers complete cover and includes all of the perks of third-party cover and money safety for damages to your car.

The perks of each insurance change are based on the plan lenders’ consent. That is why comparing insurance plans before purchasing one is vital. It will make sure that you get the most out of your car insurance online coverage.

Factors That Affects The Premium Calculation of Car Insurance

  • Type of Vehicle:

Your plan is affected by the sort of car you drive. These factors include the car’s brand and model, vehicle repair, and fuel.

  • The capacity of the Engine:

The vehicle’s cubic capacity also helps in its damage cover rate.

  • IDV of the Vehicle:

A comprehensive car plan’s amount covered is its current market value, also known as the Insured Declared Value (IDV). The IDV of your vehicle gets affected as it ages.

  • Bonus For No Claims:

The NCB discount is available at plan renewal for no claims in the preceding year. Other things to keep in mind include installing anti-theft devices and more.

  • Area:

The firms also assess plans based on where the covered vehicle will be driven the most. Premium rates in cities are greater than in rural areas.

Reasons To Compare Online Car Insurance Policies

Here are the factors to think about before comparing car insurance policies:

  • Save Funds

As per vehicle insurance, most of us choose the lowest option. Doing so is often negative. It may result in you paying greater copays when filing claims for the perks you get.

Thus, comparing auto insurance coverage before purchasing them saves you money.

  • Be Aware of The Many Plans On The Market

Comparing insurance products has grown much simpler with the advent of the new age. You may better grasp the many plans available in the market by browsing the websites of auto insurance firms.

  • Saves Time 

Comparing car insurance online simply takes a few minutes, and there are no hidden fees. If you wish to prevent a time-consuming claim process later, you should spend a few minutes before choosing a plan. 

  • Aids in Knowing The Lender’s Credibility

You want to avoid being saddled by a fake firm while purchasing an insurance plan. Thus, comparing plans online and checking others’ views regarding the plan lender will assist you in knowing their authenticity and avoiding future errors.

When you compare car insurance online prices and coverage, you can protect your funds against rare events related to your vehicle far more efficiently.

Tips For Online Car Insurance Policy Comparison

  • Select the Correct Type of Plan

You may choose from two types of vehicle insurance plans.

  1. Third-party Safety:

Protection against Third party liability for asset harm, such as car damage. Third-party car insurance is also required by law.

  1. All-Inclusive Cover:

Get this cover for fires, third party duty, disasters, animal harm, etc. The cover includes engine safety, gadget cover, and motor safety for cover for best settling claims.

  • Car Accessories & Revisions: 

Fitting your car with safe fittings, such as an anti-theft system, minimises the likelihood of your car getting stolen. As a result, your insurance company sees this as a serious move and will lower your auto insurance cost.

Similarly, making specific changes to your car, such as replacing standard wheels with alloy wheels, might raise your car insurance rate. As a result, how you alter your car will affect the price you spend on the cover.

  • Compare Many Plans

Compare as many vehicle insurance plans as you can before buying. This will allow you to make a far better choice and get the most perks.


A car is regarded as a vital asset in your lifestyle. Getting vehicle insurance is a wise choice to make after purchasing a car. An auto insurance plan can protect your money in the event of a sudden or small incident on the road. Online car insurance coverage is needed by law in India, and it will also keep you and your vehicle safe at all times.

If you want to read more exciting blogs related to car insurance online, visit Piramal Finance and explore their products and services.