Excellent (750+)
Good (670-749)
Fair (590-669)
Poor (<590)
Estimated Annual Premium
$0.00
Understanding Your Auto Insurance Premium
Calculating auto insurance premiums is a complex process that involves many factors. Insurance companies use sophisticated algorithms to assess risk and determine the likelihood of a policyholder filing a claim. This calculator provides an estimation based on common variables. It's crucial to remember that this is a simplified model, and actual quotes from insurers may vary significantly.
Key Factors Influencing Your Premium:
Vehicle Value: The more valuable your car is, the more it will cost to repair or replace, leading to higher premiums, especially for comprehensive and collision coverage.
Annual Mileage: Driving more miles increases your exposure to potential accidents. Insurers typically charge more for drivers who spend more time on the road.
Driving Record: This is one of the most significant factors. A clean driving record with no accidents or traffic violations indicates lower risk, resulting in lower premiums. Conversely, points on your license or recent at-fault accidents will likely increase your costs.
Vehicle Type: Certain vehicle types are statistically more prone to accidents or theft, or are more expensive to repair. Sports cars, luxury vehicles, and some SUVs might have higher premiums than standard sedans or trucks.
Coverage Level: The type and extent of coverage you choose directly impact the premium. Basic liability coverage is cheapest, while comprehensive and collision coverage, along with higher limits and additional endorsements, will increase the cost.
Credit Score: In many regions, insurance companies use credit-based insurance scores to predict risk. Policyholders with higher credit scores often receive lower premiums, as data suggests a correlation between good credit and fewer insurance claims.
Deductible Amount: The deductible is the amount you pay out-of-pocket before your insurance covers the rest of a claim. Choosing a higher deductible generally lowers your annual premium, as you're taking on more of the initial risk.
How This Calculator Works (Simplified Model):
This calculator uses a base rate and applies multipliers based on the inputs you provide.
The base rate can be thought of as the average cost for a standard policy. Each input then adjusts this base rate:
Vehicle Value: Higher value increases the premium.
Annual Mileage: Higher mileage increases the premium.
Driving Record: More points significantly increase the premium.
Vehicle Type: Sports cars and luxury vehicles have higher multipliers.
Coverage Level: Premium coverage has the highest multiplier.
Credit Score Range: Lower credit scores increase the premium.
Deductible Amount: A lower deductible increases the premium.
The final calculated premium is an estimate. For an accurate quote, please consult with an insurance agent or directly with insurance providers.
function calculateInsurancePremium() {
var vehicleValue = parseFloat(document.getElementById("vehicleValue").value);
var annualMileage = parseFloat(document.getElementById("annualMileage").value);
var drivingRecordPoints = parseFloat(document.getElementById("drivingRecord").value);
var vehicleType = document.getElementById("vehicleType").value;
var coverageLevel = document.getElementById("coverageLevel").value;
var creditScoreRange = document.getElementById("creditScoreRange").value;
var deductibleAmount = parseFloat(document.getElementById("deductibleAmount").value);
var basePremium = 1000; // A hypothetical base annual premium
var premium = basePremium;
// Adjustments based on inputs
// Vehicle Value Adjustment (higher value = higher premium)
premium += (vehicleValue / 10000) * 150; // e.g., $150 per $10,000 value
// Annual Mileage Adjustment (more miles = higher premium)
premium += (annualMileage / 1000) * 75; // e.g., $75 per 1000 miles
// Driving Record Adjustment (points significantly increase premium)
if (drivingRecordPoints > 0) {
premium += drivingRecordPoints * 300; // e.g., $300 per point
}
// Vehicle Type Multiplier
var vehicleTypeMultiplier = 1.0;
if (vehicleType === "sports") {
vehicleTypeMultiplier = 1.3;
} else if (vehicleType === "luxury") {
vehicleTypeMultiplier = 1.4;
} else if (vehicleType === "suv") {
vehicleTypeMultiplier = 1.15;
} else if (vehicleType === "truck") {
vehicleTypeMultiplier = 1.1;
}
premium *= vehicleTypeMultiplier;
// Coverage Level Multiplier
var coverageLevelMultiplier = 1.0;
if (coverageLevel === "standard") {
coverageLevelMultiplier = 1.3;
} else if (coverageLevel === "premium") {
coverageLevelMultiplier = 1.7;
}
premium *= coverageLevelMultiplier;
// Credit Score Adjustment (lower score = higher premium)
var creditScoreMultiplier = 1.0;
if (creditScoreRange === "good") {
creditScoreMultiplier = 0.95;
} else if (creditScoreRange === "fair") {
creditScoreMultiplier = 1.15;
} else if (creditScoreRange === "poor") {
creditScoreMultiplier = 1.40;
}
premium *= creditScoreMultiplier;
// Deductible Adjustment (lower deductible = higher premium)
// This is a bit inverse: a lower deductible means the insurer pays more in a claim, so premium is higher.
// Let's adjust based on how much the deductible is RELATIVE to vehicle value.
// A very low deductible on a high value car is riskier.
var deductibleRatio = deductibleAmount / (vehicleValue || 1); // Avoid division by zero
if (deductibleRatio 0.05) { // e.g., deductible is more than 5% of vehicle value
premium *= 0.9;
}
// Ensure minimum premium and handle invalid inputs
if (isNaN(vehicleValue) || isNaN(annualMileage) || isNaN(drivingRecordPoints) || isNaN(deductibleAmount) ||
vehicleValue < 0 || annualMileage < 0 || drivingRecordPoints < 0 || deductibleAmount < 0) {
document.getElementById("premiumAmount").innerText = "Invalid input";
return;
}
// Final formatting
var formattedPremium = premium.toFixed(2);
document.getElementById("premiumAmount").innerText = "$" + formattedPremium;
}