Calculate Your Car Insurance Premium in Seconds
Compare and renew policy online to save up to 80%.*
Understanding your car insurance costs in 2026 is no longer a matter of guesswork. Whether you are buying a brand-new electric SUV or renewing coverage for an old family sedan, an online car insurance premium calculator is your most powerful tool for financial clarity.
A car insurance calculator is a sophisticated digital tool that allows vehicle owners to estimate their annual premiums within seconds. Instead of waiting for an agent’s quote, this insurance premium calculator uses real-time data—including current IRDAI mandates and insurer-specific algorithms—to provide an accurate car insurance estimate online. It breaks down the total cost into Own Damage (OD), Third-Party (TP), and Add-on components, ensuring full transparency before you spend a single rupee.
The motor insurance premium calculator uses a standard mathematical formula used across the Indian insurance industry. In 2026, the logic remains:
Final Premium = Own Damage Premium-NCB + Discount +Third-Party Premium + Add-ons + GST (18%)
The car premium calculator pulls the Insured Declared Value (IDV) based on your car’s age and showroom price, then adds the fixed third-party car insurance premium calculator rates set by the regulator to give you a consolidated figure.
Using a free car insurance calculator is a simple four-step process:
When using a new car insurance calculator, the premium is typically higher because the IDV is at its peak (95% of the ex-showroom price).
For second-hand vehicles, the car insurance renewal premium calculator focuses on depreciation.
To get an accurate result from a vehicle insurance calculator in India, keep these details ready:
Several variables influence the insurance amount calculator:
| Engine Capacity | TP Premium Rate (Approx. 2026) |
|---|---|
Below 1,000 CC | ₹2,094 |
1,000 CC to 1,500 CC | ₹3,416 |
Above 1,500 CC | ₹7,897 |
| Battery Capacity | TP Premium Rate (Approx. 2026) |
|---|---|
Below 30 kWh | ₹1,780 |
30 kWh to 65 kWh | ₹2,904 |
Above 65 kWh | ₹6,712 |
The basic premium is the sum of the Third-Party Liability premium (mandatory) and the Own Damage premium (optional) before adding any riders or taxes.
Yes. High-end luxury models have higher repair costs and more expensive spare parts, which increases the OD portion of your insurance value calculator.
It uses your car’s IDV, the Cubic Capacity (CC) of the engine, the geographical zone, and your NCB status to calculate a risk-based price.
For a brand-new ₹10 lakh car (1.2L engine), the total premium usually ranges between ₹28,000 and ₹35,000, including a 3-year TP cover and 1-year OD with Zero Dep.
A ₹20 lakh SUV (2.0L engine) typically attracts a first-year premium of ₹55,000 to ₹75,000, depending on the chosen add-ons and the city.
While most annual policies require a lump-sum payment, many online car insurance premium calculator platforms now offer EMI options via credit cards or specific fintech tie-ups.
Yes. Metros like Delhi, Mumbai, and Bengaluru are in Zone A, where premiums are higher due to increased traffic density and accident risks compared to Zone B cities.
Yes. Performance-enhancing modifications or expensive aesthetic changes can increase your premium. Always declare them in the insurance policy to avoid claim rejection.
Yes, because the new car insurance premium calculator assumes zero depreciation (95% IDV) and includes the mandatory multi-year third-party premium.
A Comprehensive Policy with Zero Depreciation and Return to Invoice (RTI) is the best choice to ensure you don't lose money if the car is stolen or totaled.
You cannot drive a car out of the showroom without insurance. Most dealers provide it, but you should use a car insurance estimate online to see if you can get a better deal elsewhere before signing.
It is based on the depreciated IDV of the car minus your NCB discount, plus the fixed TP premium and GST.
Yes, a car insurance renewal premium calculator is essential during renewal to see if your current insurer is overcharging you compared to competitors.
It ensures you get the full benefit of your No Claim Bonus and allows you to adjust your IDV to reflect the current market value of your aging car.
You can find them on official insurance company websites or on major insurance comparison portals.
Visit an insurance car insurance calculator portal, enter your vehicle and contact details, and you will receive a detailed premium breakdown instantly.
Jio Insurance Broking Limited
IRDAI License No: 347,
Direct Broker (Life & General),
Valid upto: 11/03/2028
(Renewable)
(9.30 AM - 6.30 PM, Monday to Friday)
U67200MH2006PLC165651
1st Floor, Building - 4NA, Maker Maxity, Bandra Kurla Complex, Bandra East, Mumbai, Maharashtra - 400051
Discount is offered by the insurance company as approved by IRDAI for the product under file & use guidelines.
Insurance is a subject matter of the solicitation. For more details on policy terms, conditions, exclusions, limitations, please refer/read policy brochure carefully before concluding sale.
© 2026 Jio Insurance Broking Ltd. All rights reserved.
Jio Insurance Broking Limited
IRDAI License No: 347,
Direct Broker (Life & General),
Valid upto: 11/03/2028
(Renewable)
(9.30 AM - 6.30 PM, Monday to Friday)
U67200MH2006PLC165651
1st Floor, Building - 4NA, Maker Maxity, Bandra Kurla Complex, Bandra East, Mumbai, Maharashtra - 400051
Discount is offered by the insurance company as approved by IRDAI for the product under file & use guidelines.
Insurance is a subject matter of the solicitation. For more details on policy terms, conditions, exclusions, limitations, please refer/read policy brochure carefully before concluding sale.
Disclaimer: *Savings result from comparing the highest and lowest premiums for own damage coverage (excluding add-ons) offered by various insurers for the same vehicle, with identical IDV and NCB.
Copyright © 2026 Jio Insurance Broking Ltd.
