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Vehicle Insurance Premium Calculator

Estimate your car or bike insurance premium - OD + TP breakdown using IRDAI slab rates, your IDV, and NCB discount. Petrol, diesel, and EV supported.

Vehicle Insurance Details
TP rates are IRDAI-fixed (FY 2024-25). OD rates are indicative - actual insurer rates vary by 10–30%.
Ex-showroom price × depreciation factor
Insurance Guide

Comprehensive vs Third-Party Coverage

Third Party (Mandatory)

Covers injury/death of third parties and property damage up to ₹7.5L. Fixed by IRDAI - same across all insurers. Mandatory by law; driving without it is a criminal offence.

Own Damage (Optional)

Covers damage to your own vehicle from accidents, theft, fire, flood, and natural calamities. OD premium is based on IDV and negotiable with your insurer. NCB reduces it up to 50%.

No Claim Bonus (NCB)

Discount on OD premium for each claim-free year: 20%→25%→35%→45%→50%. NCB follows you (not the vehicle). Filing a small claim below ₹10K costs more in lost NCB than you recover.

FAQ

Frequently Asked Questions

Premium = OD premium + TP premium + GST (18%). OD = IDV × rate% (varies by insurer and vehicle age); NCB reduces OD up to 50%. TP is IRDAI-fixed by engine size - same for all insurers. Add-ons (zero dep, engine protect, RSA) are added on top of OD.

IDV = current market value of your vehicle = max payout in case of total loss or theft. IDV = ex-showroom × (1 − depreciation). Depreciation: 5% (0–6 mo), 15% (6–12 mo), 20% (1–2 yr), 30% (2–3 yr), 40% (3–4 yr), 50% (4–5 yr). Lower IDV = lower premium but lower claim payout.

No Claim Bonus (NCB) = discount on OD premium for each claim-free year: 20%→25%→35%→45%→50% (max). NCB follows the owner, not the vehicle. A claim resets NCB to 0%. Avoid claiming amounts below ₹10,000–15,000 - you'll lose more in NCB than you gain from the claim.

Yes. Third-party insurance is mandatory under the Motor Vehicles Act. Driving without it: fine up to ₹2,000 + up to 3 months imprisonment for first offence. TP rates are fixed by IRDAI and identical across all insurers. TP covers injury/death of others and property damage up to ₹7.5 lakh.

Zero Depreciation: worth it for vehicles under 3–5 years (insurer pays full repair cost without depreciation deduction). Engine Protection: important in flood-prone areas - standard OD doesn't cover engine damage from water ingression. Roadside Assistance: useful for long-distance drivers. Skip add-ons for vehicles over 10 years old.

TP-only: covers damage to third parties only. Your vehicle is not covered. Comprehensive = OD + TP: covers theft, accident, fire, flood, natural calamities to your vehicle + third party. Comprehensive is strongly recommended for new vehicles and vehicles under loan. For old vehicles (7+ years, paid off), TP-only may be sufficient if the vehicle has low residual value.