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Insurance Premium Estimate Calculator

Work out insurance premium estimate instantly with clear inputs, formula shown and shareable results.

About Insurance Premium Estimate Calculator

Motor premiums are a base risk price multiplied by rating factors. Age is the strongest: a 19 year old pays over twice a 35 year old's rate for the same car. No-claims discount builds at roughly 8 points a year to a cap around 60%, and a voluntary excess trims a little more.

Formula

Premium estimate

premium = base x age factor x (1 - NCD) x excess factor

Worked example

With the default values below, Insurance Premium Estimate Calculator returns Estimated premium of $455.33. Change any input above and every figure here is recalculated in your browser.

Inputs used

Base premium
620
Driver age
27 years
No-claims years
4 years
Voluntary excess
500

Results

Estimated premium
$455.33
Age factor
1.200 x
No-claims discount
32.0% %
Saving from the voluntary excess
$50.59

Step by step

  1. 1Values used
  2. 2Premium estimate
  3. 3Estimated premium= 455.33
  4. 4Age factor= 1.200 x
  5. 5No-claims discount= 32.0 %
  6. 6Saving from the voluntary excess= 50.59

Assumptions and limits

  • The result is derived only from the 4 inputs listed above. Anything not among them is not part of the calculation.
  • In particular, this calculator does not take inflation, tax, fees or charges or compounding frequency into account.
  • Figures are rounded for display to 3 decimal places, so totals built from several rounded parts can differ slightly from the unrounded arithmetic.

How these calculators are built and tested is described on the Methodology page. If a figure looks wrong, please report it.

Frequently Asked Questions

Why is young driver insurance so expensive?

Crash rates for drivers under 25 are several times higher per mile, and their claims are more severe. The premium reflects measured risk, not prejudice.

Is a large voluntary excess worth it?

Only if you could pay it. Going from 250 to 500 typically saves 5-8% of premium, which takes several years to recoup if you claim.

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