Vehicle Insurance Premium Calculator
Official Indian Motor Insurance Proposal Engine for 24 vehicle categories. Supports New Vehicles, Renewals, Break-in Expired Policies, Standalone PA Declaration, IRDAI tariffs, and A4 PDF Quotations.
Vehicle Insurance Premium Calculator
Calculate your motor insurance premium in just a few easy steps with official IRDAI tariff rates.
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FINSETU FINANCIAL TECHNOLOGIES
Official Motor Insurance Proposal • IRDAI Tariff Schedule
Policy Highlights & Included Covers
Itemized Premium Breakdown
| Component Description | Amount (INR) |
|---|---|
| Third Party (TP) Premium | ₹ 3,416 |
| Own Damage (OD) Premium | ₹ 19,680 |
| Personal Accident Cover (₹15 Lakh Owner-Driver) | ₹ 375 |
| Accessories Premium | ₹ 0 |
| Add-on Covers Subtotal | ₹ 4,400 |
| Less: Discounts Applied | - ₹ 3,936 |
| Goods & Services Tax (GST 18%) | ₹ 4,308 |
| TOTAL PAYABLE PREMIUM | ₹ 28,243 |
Learn
Interest on Loans
Interest is the cost of borrowing money. It is calculated as a percentage of the principal amount. The interest rate you get depends on factors like your credit score, loan type, tenure, and lender. Even a small difference in interest rate can make a big difference in the total amount you repay over the loan term.
EMI (Equated Monthly Installment)
EMI is the fixed amount you pay each month to repay your loan. It includes both the principal repayment and the interest. The EMI amount depends on the loan amount, interest rate, and tenure. Choosing a longer tenure reduces your EMI but increases total interest. Pick an EMI that fits comfortably within your monthly budget.
Prepayment
Prepayment means paying a part of your loan before the scheduled time. This reduces the outstanding principal, which in turn reduces the total interest you pay. Many lenders allow part-prepayment without charges on floating rate loans. Even one extra EMI payment per year can shorten your loan tenure and save a significant amount in interest.
Balance Transfer
A balance transfer allows you to move your remaining loan to another lender offering a lower interest rate. This can reduce your EMI and total interest. There may be processing fees involved, so calculate the net savings before switching. Balance transfers work well when there is a significant rate difference and enough tenure remaining.
Frequently Asked Questions
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