Car insurance companies exist primarily to provide financial protection and support to vehicle owners in case of unforeseen events or accidents involving their cars. Here are the key reasons why they exist and the benefits they offer:
India has 25 of the world’s best general insurance companies catering to the various general insurance needs of the Indian population. Here is a list of the best car insurance companies in India:
ICICI Lombard General Insurance: Renowned for comprehensive coverage, a wide range of add-ons, and a vast network of partnered garages for repairs.
Bajaj Allianz General Insurance: Offers innovative policies, 24x7 roadside assistance, cashless claims, and a variety of valuable add-ons.
HDFC ERGO General Insurance: Known for zero depreciation cover, quick emergency assistance, and access to an extensive network of garages for cashless services.
New India Assurance: A government-backed insurer providing comprehensive plans covering third-party liabilities and offering various add-on options.
Reliance General Insurance: Provides 24x7 helplines, hassle-free cashless claims, and diverse add-ons like key protectors and engine coverage.
United India Insurance: Offers comprehensive plans with third-party liability coverage, personal accident cover, and additional beneficial add-ons.
Tata AIG General Insurance: Known for its comprehensive coverage, seamless cashless claim settlements, and add-ons like a return to the invoice.
National Insurance Company: Provides comprehensive car insurance plans with options like zero depreciation and engine protection as add-ons.
IFFCO Tokio General Insurance: Recognized for quick claim settlements, cashless services, and various beneficial add-on covers.
Future Generali India Insurance: Offers extensive coverage, easy claim settlement, and add-ons like consumable expense coverage.
SBI General Insurance: Known for comprehensive coverage, NCB benefits, and a range of add-ons for policy customisation.
Shriram General Insurance: Provides comprehensive plans, roadside assistance, and add-ons like personal accident cover.
Kotak Mahindra General Insurance: Offers customizable plans, prompt claim settlements, and diverse add-ons for enhanced coverage.
Liberty General Insurance: Known for comprehensive policies, cashless claims, and additional services like roadside assistance.
Go Digit General Insurance: Offers innovative plans, quick claim settlements, and personalized add-ons catering to individual needs.
Edelweiss General Insurance: Provides comprehensive coverage, seamless claim processes, and add-ons like key replacement.
Universal Sompo General Insurance: Known for wide coverage options, speedy claims, and diverse add-ons.
Raheja QBE General Insurance: Offers comprehensive policies, cashless claims, and beneficial add-ons to improve coverage.
Magma HDI General Insurance: Provides comprehensive coverage, prompt claim settlements, and various beneficial add-ons.
Acko General Insurance: Known for its digital-first approach, easy claim processes, and innovative policies designed for consumers.
Top Car Insurance Companies | Cashless Garages Network | Incurred Claim Ratio 2021-22 (%) |
---|---|---|
Bajaj Allianz Car Insurance | 4000+ | 68.53 |
Cholamandalam Car Insurance | 6900+ | 65.05 |
Digit Car Insurance | 1400+ | 79.54 |
Zuno (Edelweiss) Car Insurance | 1000+ | 84.61 |
Future Generali Car Insurance | 2500+ | 62.43 |
HDFC ERGO Car Insurance | 6800+ | 74.66 |
IFFCO Tokio Car Insurance | 4300+ | 84.12 |
Kotak Mahindra Car Insurance | 1000+ | 82.67 |
Liberty Car Insurance | 4300+ | 62.84 |
National Car Insurance | NA | 90.68 |
New India Assurance Car Insurance | 1100+ | 91.00 |
Oriental Car Insurance | NA | 97.95 |
Universal Sompo Car Insurance | NA | 91.32 |
Reliance Car Insurance | 3700+ | 75.57 |
Royal Sundaram Car Insurance | 4600+ | 85.76 |
SBI Car Insurance | 5400+ | 93.58 |
Shriram Car Insurance | 1500+ | 72.97 |
Tata AIG Car Insurance | NA | 74.51 |
United India Car Insurance | 700+ | 98.90 |
Raheja QBE Car Insurance | 1000+ | 92.55 |
Choosing the right insurance policy can be a bit overwhelming with so many options available these days. But don't worry, we’re here to help! Let's work together to find the best policy for your needs.
Now that you have a better understanding of the factors that you must look out for in a Car Insurance Policy, here is our unordered list of the 10 Best Car Insurance Companies in India.
This type of insurance is mandatory under the Motor Vehicles Act, 1988. It covers the insured individual against legal liabilities arising from damages caused to a third party involving their vehicle. It includes compensation for injury, death, or property damage to others caused by your car.
This is a more extensive form of coverage that includes both third-party liability and coverage for damages to your vehicle. It covers expenses arising from accidents, theft, fire, natural calamities, vandalism, and more. It also includes personal accident cover for the owner-driver.
This type of insurance specifically covers damages to your vehicle due to accidents, theft, fire, natural disasters, or malicious acts. It's usually combined with a third-party liability policy to create comprehensive coverage.
When you Buy Car Insurance Online on Coverfox, you will be prompted to fill out a few basic details about your car. These details are then used to determine the premiums. Some of the factors investigated include the following:
Filing a car insurance claim involves several steps:
The best car insurance company in India may not be the same for everyone and it differs from person to person. Every car owner has individual needs depending on which he/she purchases the policy. If you are looking for a car insurance company online, you need to make online comparisons and choose the company based on the coverage and benefits offered.
There are over 25+ car insurance companies in India
NO, car insurance companies in India do not require your proof of marriage for buying a car insurance plan.
HDFC ERGO, Edelweiss, Reliance General are among the top car insurance companies in India. It is advisable to check the claim settlement ratio of the insurer.
NO, car insurance companies do not operate on Saturdays and Sundays. But you can always file a claim 24x7 through their dedicated helpline number.
There are over 25+ insurance companies in India that offer you car insurance coverage.
Few of the top car insurance companies in India are: HDFC Ergo, Reliance General Insurance, Edelweiss, Acko, etc.
Yes, you can change your car insurance company in case you are not satisfied with the existing insurer through the process of porting. You can compare various car insurers online based on various factors such as claim settlement ratio, coverage, benefits, premium, etc.
Top 10 car insurance companies in India are:
Yes, car insurance companies will pay for all the damages caused due to an accident including property damage, damage caused to your own car or that of the third party.
In case of car damage, a surveyor is appointed by the insurance company to check on the damages who gives an estimate of the repair costs based on the existing market value of the car.
Yes, you need to inform the insurance company in case you change from CNG car to LPG.
Yes, you can change your car insurance company if you are not satisfied with the existing coverage offered by the insurer.
Yes, in case of total loss of the vehicle or theft the insurance company will compensate you with an amount equivalent to the IDV of your car.
If you switch car insurance company within 90 days of policy expiry then you can retain the NCB benefits i.e. still be eligible to receive NCB discount.