Car Insurance Premium Estimator
Get a rough estimate of your car's own-damage insurance premium based on its Insured Declared Value (IDV), No-Claim Bonus, and add-on covers.
- Free to use
- Accurate results
- No registration required
- Works on all devices
Your result
₹18,000
Estimated annual premium
AI explanation
Formula
Base premium = IDV × base rate%; premium after NCB = base premium × (1 − NCB%); total = premium after NCB + add-onsWorked example
₹6,00,000 IDV, 20% NCB, ₹2,000 add-ons
| Field | Value |
|---|---|
| Insured Declared Value (IDV) | 600000 |
| Base own-damage rate | 3 |
| No-Claim Bonus (NCB) discount | 20 |
| Add-on covers cost (annual) | 2000 |
| Base premium (before NCB) | 18000 |
| NCB discount amount | 3600 |
| Estimated annual premium | 16400 |
Assumptions
- This is a simplified own-damage premium estimate only — it excludes the separate third-party liability premium component, which is set by IRDAI based on engine cubic capacity and doesn't depend on IDV.
- The base rate is illustrative — actual insurer rates depend on the vehicle model, city, driver's claim history, and the insurer's own underwriting.
Frequently asked questions
What is IDV?
Insured Declared Value — the maximum amount your insurer will pay if your car is stolen or declared a total loss, roughly equivalent to its current depreciated market value.
How does No-Claim Bonus work?
Each claim-free year earns you a discount on your own-damage premium at renewal, starting at 20% after 1 claim-free year and rising to a maximum of 50% after 5 consecutive claim-free years — but it resets to 0% if you make a claim.
Why doesn't this include the third-party premium?
Third-party liability premiums are fixed annually by IRDAI based on your vehicle's engine capacity, not its IDV or your NCB — since it's a flat, publicly notified rate rather than IDV-based, it isn't part of this own-damage estimate.
Related calculators
This is a simplified estimate for illustration only and does not reflect any specific insurer's actual pricing. Get quotes from insurers or the IRDAI-mandated premium calculator on the official portal for an accurate, purchasable premium.
Report a calculation issue