ICICI Lombard Car Insurance Premium Calculator
The premium calculator makes it easy to find out how much your car insurance will cost. Just enter your car details, and it will show you the premium amount. You can also see how adding extra features will change the price. All you need is the vehicle type, model, variant, year of manufacture, and RTO details to get an instant quote online.
Factors that Affects ICICI Lombard Car Insurance Premiums
- Type of Insurance Policy
- Discounts Available
- Insured Declared Value
- Location
- Previous Claims
- Vehicles Age
- No Claim Bonus
- Add-on Covers
- NCB Available
- Fuel Type
- Car Modifications Done
- Make, Model, and Variant
- Choice of Voluntary Deduction
- Lapse of Previous Policy
Third-Party Liability Car Insurance Premium Rates
Here are the third-party car insurance premium rates for a 1-year policy, effective from June 1, 2022, as set by IRDAI:
| Engine Capacity of Cars | Premium Effective June 01, 2022 (Rs.) |
|---|---|
| Less than 1,000 CC | 2,094 |
| More than 1,000 CC & less than 1,500 CC | 3,416 |
| More than 1,500 CC | 7,897 |
Disclaimer: The third-party insurance rates mentioned in the above tables may vary depending on the age, make and model, and city of registration of the four-wheeler.
Factors That Affect Car Insurance Premium
1Insured Declared Value (IDV)
IDV is the current market value of your car. It’s the amount you can claim if your car is stolen or totally damaged. A car with a higher IDV will have a higher insurance premium.
2No Claim Bonus (NCB)
NCB is a discount given if you don’t make any claims during the policy year. The discount increases from 20% to 50% with every claim-free year, which helps lower your premium cost.
3City of Registration
Car insurance premiums depend on where your car is registered. Cities with more traffic, like Tier 1 cities, have higher premiums compared to Tier 2 and Tier 3 cities because of the higher risk of accidents.
4Anti-Theft Devices
Installing anti-theft devices in your car makes it safer and reduces the risk for insurers. Because of this, they charge lower premiums for cars with security devices installed.
5Age of the Driver
Older drivers with more experience are often seen as safer drivers. Insurers offer lower premiums to older people as they are likely to drive more carefully.
FAQs
The premium calculator is a tool that helps you find out how much your car insurance will cost by entering simple details about your car.
You need to provide information like your car’s type, model, variant, year of manufacture, and RTO (Regional Transport Office) location.
Yes, the calculator lets you see how adding extra features like roadside assistance or zero-depreciation cover can change your premium.
No, this premium calculator is free to use and assists in getting you an instant quote for your car insurance.
Yes, you can buy the policy online immediately after getting your premium estimate.
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