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ACKO Car Insurance Calculator
It is an online tool to quickly calculate the cost of car insurance for your car. You can get a quote on ACKO.com completely free of cost by just providing a few details.
Share a few details such as bike model, purchase date, and previous insurance policy details to find various insurance policies and their premium.
ACKO offers many useful add-ones to enhance your two-wheeler insurance plan and offer wider coverage. Add/delete add-ons as per your requirement.
ACKO provides a variety of discounts and offers to its customers. Apply them to save more on premiums.
Factors that have the biggest impact on the calculation of your Car Insurance Premium are listed below. ACKO uses a combination of these factors and its proprietary algorithms to tailor the best insurance rates for your car.
Each car has a different cost. Their spare parts are priced differently too. Since insurance covers the cost of damages, theft, etc., the premiums differ for different car make, model and variants.
The type of coverage you choose: Third-party, Own Damage, Comprehensive. ACKO has some unique flavours of these plans to choose from too. Coverage is the biggest factor in premium calculation.
As the name suggests, NCB is a discount for not filing a claim in the previous year. NCB is retained even if you switch insurance companies. NCB discount increases for every consecutive claim free year and goes as high as 50% discount on premium.
IDV is the current value of your used car. With a comprehensive policy, the insurance company will pay the IDV amount in the event of total damage or theft. Higher IDV leads to higher premiums.
You can select additional benefits for your policy like Zero Depreciation, Engine Protect, Roadside Assistance and more. These are commonly known as 'add-ons'. They come at an extra cost over your base policy.
ACKO offers many types of discounts for good behaviour like driving safely, renewing policy ahead of expiry and much more. You can use them to enhance your coverage or save on your premiums.
Owning a 'Personal Accident Cover' is a government mandate if you are driving a car in India. It gives you Rs. 15 Lakhs insurance against accidental injuries. Opting to buy this increases your premium.
After you have finished customising your Car Insurance Plan, 18% GST will be applied on the final premium. This is applicable on Car Insurance plans of all general insurance companies in India.
Using ACKO's online car insurance calculator can help you find the right coverage at an affordable cost. There's some extra savings to be made too!
You get to know exactly what you are paying for and the benefits you are getting. No hidden commissions, no hidden costs. We give complete break-up of features for your policy.
ACKO has some unique car insurance policies that are available only online. You can also customise them with additional benefits as per your liking. Get your low cost car insurance with handpicked benefits!
You don't have to call any insurance agent to your home, or talk to any advisor on phone for hours. You can check prices & features online on your mobile. It's that easy!
Over and above No Claim Bonus and Zero Commissions, we keep delivering special offers and discounts exclusively on ACKO.com. Be on the lookout for some extra savings!
We get that you would want to compare car Insurance policies and get the one that has low price, is easy to use, and provides good coverage. And that's exactly why you should pick ACKO!
When you buy directly from ACKO, we don't have to pay any commissions to agents. We pass these savings to you by giving low premium rates.
ACKO provides paperless door-to-door claims. Give us a call - we will pick up your car, get it repaired and deliver it back to you within 3 working days.
ACKO has unique plans tailored to your needs. They are not available anywhere else. We also have personalised discounts for our customers.
Here are some of the frequently asked questions about online car insurance premium calculator
Yes, the car model is an important factor while calculating the car insurance premium. The Third-party premium is dependent on the cubic capacity of your car's engine. Make-model also determines the market value or the Insured Declared Value (IDV) of the car. Higher IDV usually results in increasing the premium amount.How does the car insurance calculator help in determining the car insurance premium?
The calculator lets you select the cover, change the IDV, include add-on covers and NCB, and based on that information lets you know the premium you will have to pay to the insurer. This lets you make an informed choice before you buy the best car insurance policy.How is the surveyor fee calculated for an expired car insurance policy?
ACKO doesn't charge you any surveyor fee for an expired car insurance.Can I pay car insurance premiums in instalments?
Yes, there are EMI options available for some insurance plans. They will be available to you on the payment page online. You can always talk to one of our advisors if you need additional help.Does the location of the car impact the car insurance premium rate?
Yes. The location of the car is an important factor for calculating the insurance premium. The cost of the car varies in different states and cities. This has a direct impact on IDV and in-turn the insurance premiums.
ACKO has many plans for Car Insurance. Use the calculator to compare.
This is a standard policy covering damages to third-party and to your own car. It also covers theft and damages due to natural disasters like flood or cyclone.
It is also called 'Bumper to Bumper cover'. This has all benefits of a comprehensive policy and also covers depreciation cost of parts (rubber, plastic, fibre & more)
[Exclusive to ACKO] This plan gives you all the benefits of Bumper to Bumper cover at a discounted price. The catch? It has a Rs. 5000 deductible at the time of claims.
Only covers damage caused to someone else's vehicle or property by your car. Theft or damage to your car is not covered.
We all like to save more. So here are 3 tips to save reduce your Car Insurance premiums.
Go easy with Insured Declared Value (IDV). Higher the IDV, higher the premiums.
Keep IDV as close to what you think your car is truly worth in the second-hand market.
You shouldn't claim for very small damages because you lose out on No Claim Bonus (NCB).
For every claim-free year NCB keeps increasing and can get you up to 50% off on premiums.
Use add-ons that can help you reduce premiums.
They might add a deductible during claims, but often a saving 'right now' is better than a 'may-be' spend at the time of claims.
Read on to find out how you can calculate Car Insurance Prices.
The car insurance price is commonly called "Car Insurance premium"
Premium is the amount you pay to buy an insurance policy. Once the premium is paid, the insurance company provides coverage for your car as per the terms and conditions mentioned in your car insurance policy.
The premium rates are different for different kinds of plans, features, previous insurance and car details. Which is why an online calculator is the best tool to find out exact premium rates for car insurance.
However, rates for Third-party car insurance are set by the Insurance Regulatory and Development Authority of India (IRDAI). These premium rates are the same across all general insurance companies. They are revised from time to time to keep up with loss ratios of insurance companies and also inflation.
Third-party car insurance premium rates only differ based on type of cars. Below is a comparison of premium rates for Third-Party liability insurance premium for the Financial Year (FY) 2019-20.
|Category||Cubic Capacity (CC)||Insurance Premium|
|Private Cars||Not more than 1000cc||Rs. 2,072|
|Private Cars||Between 1000cc and 1500cc||Rs. 3,221|
|Private Cars||More than 1500cc||Rs. 7,890|
|Private Electric Cars||Not more than 30 KW||Rs. 1,761|
|Private Electric Cars||Between 30 KW and 65 KW||Rs. 2,738|
|Private Electric Cars||More than 65 KW||Rs. 6,707|
|Vintage Cars||50% Discount on certified Vintage Cars by Vintage & Classic Car Club of India||50% Discount|
|Category||Cubic Capacity (CC)||Insurance Premium|
|Private Cars||Not more than 1000cc||Rs. 5,286|
|Private Cars||Between 1000cc and 1500cc||Rs. 9,534|
|Private Cars||More than 1500cc||Rs. 24,305|
|Private Electric Cars||Not more than 30 KW||Rs. 4,493|
|Private Electric Cars||Between 30 KW and 65 KW||Rs. 8,104|
|Private Electric Cars||More than 65 KW||Rs. 20,659|
How To Calculate Car Insurance Premium Amount Via Android Or iOS App?
One of the biggest advantages of buying car insurance online is that one can get an idea about the price of their policy in advance. You can calculate the approximate amount of premium easily through your iOS or Android-powered cell phone. The following steps will help you calculate car insurance premiums through your phone.
Step 3: Enter details like the car's registration number, and claim history. Set the Insured Declared Value (IDV) and select required add-ons.
You can now see your car insurance quote. Note that you can tweak a few details, for example, the IDV or add-ons to adjust the quote.
Here are some popular add-ons available for Car Insurance
This is by far the most popular add-on and for good reason. The longer you drive your car, its market value depreciates. Metal, fibre, plastic parts all depreciate at a different rate. At the time of claims if any of these parts are replaced, insurance companies only pay for the depreciated cost, and not the cost of new part. Ex: A used fibre part may have depreciated value of Rs. 500 vs a new replacement that costs Rs. 1000. Insurance companies normally pay Rs. 500 for the used part.
If you have opted for Zero Depreciation add-on, insurance companies pay for the complete cost of new part (as long as the claim against it gets approved).
Tip: If your car is less than 5 yrs old, you should definitely opt for Zero Depreciation add-on.
Cost of engine repair or engine replacement is usually not covered under a Car Insurance policy. There are a lot of expensive parts inside the engine and a full replacement can run in lakhs of rupees. If you have opted for an Engine Protect add-on the repair and replacement cost of car engine will be covered by your insurance policy.
Tip: New car owners often think that engine won't need repairs or replacement for many years, and they are quite right in their thinking. Unless, you live in a flood prone region. In India, heavy rains and floods can damage the engine of a relatively new car too. If you live in a region that sees heavy rains, we recommend you take the Engine Protect add-on.
Consumable items such as engine and gearbox oil, nuts and screws, lubricants, washer, and other such items are usually not covered by insurance because overtime their value goes to zero. But if you don't want to pay for them out of your own pocket at the time of claims, you can opt for a Consumables Cover add-on.
Tip: For small repairs cost of consumables is quite low, but for major repairs this can easily go up in thousands of rupees. If you want peace of mind during claims, this is a relatively low cost add-on to opt for.
When you are on a long drive, one of the worst things that can happen to you is getting stranded with a broken down car. This is the time you need roadside assistance services like towing of your car, on-spot repairs, battery jumpstart, spare key retrieval, fuel and flat tyre support. A roadside assistance add-on helps you with these services.
Tip: If you frequently go on road-trips on highways, this is an excellent add-on to have and so you can drive worry free.
Yes. By ensuring a claim-free year, you get to enjoy the benefits of No Claim Bonus (NCB), which acts as a discount while renewing the policy. We (ACKO) often provide personalised discounts to our customers that can help you save over and above NCB.What is a mandatory excess in car insurance?
This is also referred to as Voluntary Deductible. This is a part of the claim amount that you will need to pay on your own. Voluntary Deductible is usually taken to reduce insurance premium without compromising on benefits as it still protects you from a major financial loss.Do I need to complete paperwork/documentation to avail car insurance online?
Not with digital-first insurance companies like ACKO. You can buy car insurance online on ACKO with zero paperwork involved. It only takes a few minutes to get a policy online.How fast can I get my car insurance policy document?
Instantly. Once you have completed your payment online, the policy document will be available for download immediately and a copy will also be emailed to you on your registered email id.How do I find out the payable car insurance premium?
Use the car insurance premium calculator right at the top of this page. It is a highly effective tool to know the payable premium.Can I use the insurance premium calculator while renewing the car insurance?
Yes, you can use the calculator above to renew your car insurance. Even if you bought your previous policy with a different insurer, you can still renew it this year with ACKO.What are the factors that affect or reduce the insurance premium or the quote of the car?
A lot of factors are involved in the calculation of your car insurance premium. Some of the important ones are the make-model of your car, your current city, previous claims history, choice of coverage, add-ons and any redeemable offers or discounts. You can explore them all by using the calculator at the beginning of this page.What are the details that I need to enter in the car insurance calculator? And is there a different car insurance calculator for a used car?
You are required to enter the car’s registration number, manufacturing date, Insured Declared Value (IDV), model, number of Add-on covers, deductibles, etc. This car calculator is effective in checking used car insurance quotes as well.
ACKO General Insurance Limited
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Category: Non-Life Insurance
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