Car Insurance Calculation

How to Calculate Car Insurance?

2025 Current Insurance Rates

Standard Vehicles: %2.5
Luxury Vehicles: %3.0
Electronic Vehicles: %2.8

Corporate Vehicles: %3.5
SUV/Off-Road Vehicles: %3.2

Important Notes

Additional rate is applied depending on the age of the vehicle
Additional rate increase of 0.2% per year
The maximum additional rate is limited to 2.0%
Special rates apply for electric vehicles
Insurance premium = Vehicle value × Total rate

Calculation Formulas:

Age Addition Rate = min(Vehicle Age × 0.2, 2.0)
Total Rate = Base Rate + Age Additional Rate
Insurance Premium = Vehicle Value × (Total Rate ÷ 100)

Sample Calculation:

Standard vehicle, 5 years old, worth $ 500,000:

General Rate: 25 %
Age Addition Rate: 5 × 0.2 = 1.0%
Total Rate: 2.5% + 1.0% = 3.5%
Insurance Premium: 500,000 × 0.035 = $ 17,500

Important Notice

These calculations are estimated values.
Actual insurance premiums may vary depending on the rates set by your insurance company.
Contact your insurance company for exact pricing.