Auto Insurance Estimator

Where do the premium figures come from?

They come from five parameter sets written into this tool, one per country, and not from any insurer or rate filing. Each set has a base annual amount, an age rule, a no-claims schedule and a third-party rule. The output is an illustration of that arithmetic. It is not a quote, and a licensed agent’s or insurer’s own quote is what actually applies to you.

What is the exact formula for the comprehensive figure?

Base amount × age multiplier × vehicle adjustment × (1 − no-claims discount). The vehicle adjustment is 1 + (vehicle value − 20,000) ÷ 200,000, so a vehicle worth 20,000 more than the reference adds 10%, and one worth 20,000 less takes off 10%. For the default US inputs that is 1,800 × 1.0 × 1.025 × 0.85, which the tool shows as $1,568.

How does the driver’s age change the result?

The US uses ×1.6 under 25, ×1.0 from 25 to 65 and ×1.15 above 65. The UK uses ×2.2 under 25, ×1.0 up to 65 and ×1.1 above. Canada and Australia apply only an under-25 factor (×1.5 and ×1.45). India applies no age factor at all. Ages below 16 are raised to 16 before the calculation.

How is the no-claims discount worked out?

Years are capped at 5. The US takes 5% a year to 25%, the UK 10% a year to 50%, Canada 4% a year to 20% and Australia 5% a year to 25%. India uses a lookup of 0%, 20%, 25%, 35%, 45% and 50% for 0 to 5 years. Entering 8 years gives the same discount as 5.

Why does third-party cover not react to my inputs in India and Australia?

In those two countries the tool uses a flat third-party figure (₹2,500 and A$500) instead of a share of the comprehensive premium. Changing age, claims history or vehicle value therefore leaves the third-party line unchanged. In the US, UK and Canada the third-party figure is the comprehensive result multiplied by 0.40, 0.55 and 0.45.

Which currency should I enter the vehicle value in?

Use the currency of the country you picked. For India the tool scales the vehicle adjustment by 40, so a vehicle worth ₹800,000 is treated like a US vehicle worth 20,000, which is neutral. No exchange rates are applied anywhere in the tool.

What does the estimate leave out?

Postcode or region, make and model, annual mileage, convictions, named drivers, the deductible or excess you choose, optional extras, taxes and fees. It also cannot say what a policy covers or excludes. Treat it as a way to see how age, claims history, vehicle value and cover type interact in a simple model.

What happens with blank, zero or unusual entries?

A cleared box becomes 0, and 0 is used as typed: a vehicle value of 0 gives an adjustment of 0.9 rather than reverting to 25,000, and 0 claim-free years gives no discount. An age of 0 is held at the minimum of 16, which gives $2,509 with the other starting values. Negative values are held at zero.