Calculator inputs
Example data table
| Scenario | Vehicle | Use | Value | Age | Liability | Collision/Comp | Estimated Annual |
|---|---|---|---|---|---|---|---|
| Urban commuter | Sedan (2022) | Commute | $22,000 | 30 | 100/300/100 | Yes/Yes | $1,520 |
| Family driver | SUV (2021) | Personal | $34,000 | 42 | 250/500/250 | Yes/Yes | $1,860 |
| Work truck | Pickup Truck (2019) | Business | $28,000 | 38 | 250/500/250 | Yes/Optional | $2,140 |
| New rider | Motorcycle (2023) | Personal | $8,000 | 21 | 50/100/50 | Yes/Yes | $1,180 |
| Performance | Sports Car (2020) | Personal | $48,000 | 29 | 250/500/250 | Yes/Yes | $3,150 |
| Older vehicle | Van (2010) | Personal | $4,500 | 55 | 50/100/50 | Optional/Optional | $820 |
Formula used
The calculator estimates an annual premium by combining a vehicle base rate with exposure and risk multipliers, then adds coverage components and applies discounts and simple fees.
Core = BaseRate × Use × ValueFactor × Age × Experience × Claims × Mileage × Location × Safety × Garaging
Liability = Core × 0.52 × LimitFactorCollision = Core × 0.26 × DeductibleFactor × VehicleAgeAdjustComprehensive = Core × 0.16 × DeductibleFactor × VehicleAgeAdjustUninsured = Core × 0.06 × UMFactorPIP/MedPay ≈ (Amount/1000) × 18 × AgeFactorSubtotal = sum(all selected components)AfterDiscount = Subtotal × (1 − DiscountRate)TotalAnnual = AfterDiscount + AdminFee + 2% ServiceFeeThis approach is designed for planning and comparison. Real pricing also depends on underwriting rules, driving records, local regulations, and carrier filings.
How to use this calculator
- Pick the vehicle type and how you use it.
- Enter year, value, and annual miles for exposure.
- Set driver age, experience, and claim history.
- Select liability limits and optional coverages.
- Choose deductibles, then add any discounts you qualify for.
- Press Calculate to see totals, ranges, and recommendations.
Vehicle type and base rate signals
Vehicle type starts the model with a base annual cost. Sedans begin near 650, SUVs near 750, and pickups near 820. Motorcycles use a lower 520 base, while sports cars rise to about 1100. Commercial trucks can start around 1400 because exposure is higher.
Risk multipliers that move the estimate
The base is scaled by usage, value, and driver risk. Personal use is 1.00, commute 1.10, business 1.20, and rideshare or delivery 1.35. Location risk ranges from 0.95 to 1.15, and garaging ranges from 0.95 to 1.08. Claims step from 1.00 with none to 1.50 typically. Safety ratings map from 1.08 to 0.97.
How coverages convert the core premium
A core premium is computed, then split into coverages. Liability uses about 52% of core and a limit factor from 0.85 to 1.12. Collision uses about 26% and a deductible factor from 0.80 to 1.15, with an age taper as vehicles get older. Comprehensive uses about 16% with a similar deductible adjustment and a lighter age taper. Uninsured coverage uses about 6% and can run 0.90 to 1.08.
Discounts, fees, and term impacts
Selected discounts are summed but capped at 30% to avoid extreme outputs. A fixed 35 admin fee is added, plus a service fee near 2% of the discounted subtotal. The tool also shows an uncertainty range of roughly 88% to 112% of the annual total. In the example table, an older van scenario is about 820, while a sports car scenario is about 3,150. Roadside adds 18 and rental adds 32.
Using results for coverage decisions
Use the recommendations as a checklist, not a rule. Higher value or higher exposure profiles often justify 250/500/250 liability. Collision is usually suggested when value is at least 5,000 and vehicle age is 12 years or less. Comprehensive is suggested up to about 15 years. Start with a 500 or 1,000 deductible, then tune for budget and cash reserves. For newer financed vehicles, consider GAP coverage.
FAQs
What does vehicle type change in the estimate?
It selects the starting base rate and typical severity assumptions. It helps compare cars, SUVs, trucks, and bikes, but it does not replace insurer underwriting rules or local requirements.
Why does vehicle value affect prices nonlinearly?
The tool uses a value curve and clamp: (value/20000)^0.35 limited to 0.75–1.45. This makes premiums rise smoothly for expensive vehicles without producing extreme outputs.
How do deductibles change collision and comprehensive costs?
Lower deductibles apply higher factors (250 → 1.15) and raise premium. Higher deductibles apply lower factors (1500 → 0.80) and reduce premium. Only collision and comprehensive components use these factors.
What is the difference between collision and comprehensive?
Collision pays for damage after a crash with a vehicle or object. Comprehensive covers non‑collision losses like theft, fire, hail, vandalism, and animal impacts. Financed vehicles often need both coverages.
Why are discounts capped in the calculator?
Many policies limit stacking and eligibility across discounts. The calculator caps combined discounts at 30% to keep comparisons realistic when several discount options are selected.
How should I interpret the premium range shown?
It is an uncertainty band of roughly ±12% around the annual total. Use it to compare scenarios and sensitivity, not as a guaranteed price. Actual quotes depend on carriers, regulation, and driving history.