Estimate car insurance premium
Factors: IDV (Insured Declared Value), car age, engine capacity, location (metro vs non-metro), past claims history, add-on covers, NCB (No Claim Bonus), and coverage type (third-party vs comprehensive).
IDV (Insured Declared Value) is the current market value of your car—maximum payout for total loss/theft. IDV = (Manufacturer's listed price - Depreciation). Higher IDV = higher premium but better coverage.
NCB (No Claim Bonus) is a discount for claim-free years: 20% (1 year), 25% (2), 35% (3), 45% (4), 50% (5+ years). NCB transfers to new car within 90 days. Making claims resets NCB.
Third-party is legally mandatory and cheapest but only covers damage to others. Comprehensive covers your car too (accidents, theft, natural disasters). For new/valuable cars, comprehensive is strongly recommended.
Zero depreciation (full claim without depreciation deduction), engine protection (water/oil damage), roadside assistance, personal accident cover, consumables cover. Evaluate based on car age and your driving patterns.
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