🚗 How to Use the Vehicle Insurance Premium Calculator

Step 1: Select Vehicle Type

Choose the type of vehicle you want to insure – Car or Bike.

Step 2: Enter Vehicle Age

Enter how many years old your vehicle is.
Example: 3

Step 3: Enter Insured Declared Value (IDV)

Provide the IDV of your vehicle (in ₹) – this is the current market value of your vehicle.
Example: 400000

Step 4: Choose Your Location

Select whether you live in a Metro or Non-Metro city, as location affects premium.

Step 5: Enter No Claim Bonus (NCB)

Enter the NCB percentage you are eligible for (if applicable).
Example: 20

Step 6: Click "Calculate Premium"

Press the Calculate Premium button to view estimated insurance premiums.

📊 What Results You’ll See

Estimated Own Damage Premium: Premium based on your vehicle's age, IDV, and NCB.
Third-Party Premium: Fixed based on vehicle type and regulatory rates.
Total Estimated Premium: Sum of Own Damage and Third-Party premiums.

Note: These are estimated values. Final premium may vary based on insurer and policy add-ons.

Motor Insurance: Protect Your Vehicle and Drive with Confidence

June 4, 2025 | IST

Motor insurance is a crucial financial product that safeguards your vehicle against damages, theft, and third-party liabilities. Whether you own a car, bike, or any other motor vehicle, having motor insurance ensures you stay protected on the road.

Why Do You Need Motor Insurance?

Protects against financial loss due to accidents or theft
Mandatory by law in most countries for vehicle owners
Covers third-party damages and legal liabilities
Offers peace of mind while driving

Types of Motor Insurance Policies

Third-Party Liability Insurance: Covers damages or injuries caused to others in an accident.
Comprehensive Insurance: Covers both third-party liabilities and own vehicle damages.
Personal Accident Cover: Provides compensation for injuries to the driver or owner.
Zero Depreciation Cover: Ensures full claim amount without depreciation deductions on parts.

How to Choose the Right Motor Insurance

Assess your vehicle’s value and usage
Compare policy premiums and coverage details
Check claim settlement ratios and customer reviews
Look for add-on covers as per your needs
Understand policy terms and exclusions carefully

Benefits of Motor Insurance

Financial protection against repair and replacement costs
Coverage for theft, natural disasters, and accidents
Legal protection in case of third-party claims
Cashless claim facilities at network garages

Conclusion

Motor insurance is essential for every vehicle owner to protect against unforeseen damages and liabilities. Choosing the right policy helps you drive worry-free and financially secure.

Insure your vehicle today for a safer tomorrow.