Choosing the right car insurance company is crucial for securing your vehicle and finances. Each insurer offers unique benefits, premiums, claim settlement ratios, and network garages. At Coverfox, we simplify this process by providing expert advice, fast comparisons, and a trusted platform to help you make an informed decision. Read on to know how!
Explore the leading car insurance providers in India with our interactive table—check out the premium, claim settlement ratio, network garages, and key features. Check discounts before choosing a car insurance Policy.
To meet the diverse general insurance demands of the Indian populace, India is home to 25 of the top general insurance businesses in the world. This is a list of India's top auto insurance providers:
Well-known for its extensive network of affiliated garages for repairs, extensive coverage, and several add-ons.
Innovative policies, round-the-clock roadside assistance, cashless claims, and a number of beneficial add-ons are all provided by Bajaj Allianz General Insurance.
Renowned for its rapid emergency response, zero depreciation coverage, and availability of a wide network of garages for cashless transactions.
A government-backed insurance company, New India Assurance offers extensive plans that include third-party liabilities as well as a number of add-on choices.
Offers a variety of add-ons, such as engine coverage and key protectors, hassle-free cashless claims, and round-the-clock helplines.
Provides all-inclusive plans that include personal accident insurance, third-party liability insurance, and other useful extras.
Well-known for its extensive coverage, easy cashless claim resolution, and extras like invoice return.
Offers complete auto insurance policies with optional features including engine protection and zero depreciation.
Renowned for its cashless services, speedy claim payments, and assortment of useful add-on coverages.
Provides comprehensive coverage, simple claim resolution, and supplementary benefits like coverage for consumable expenses.
Comprehensive coverage, NCB benefits, and a variety of add-ons for policy customisation are hallmarks of SBI General Insurance.
Roadside assistance, comprehensive policies, and add-ons like personal accident coverage.
Provides a range of add-ons for improved coverage, quick claim payouts, and adaptable policies.
Cashless claims, extensive coverage, and extra services like roadside assistance are its hallmarks.
Provides cutting-edge policies, prompt claim resolutions, and customised add-ons to meet specific requirements.
Comprehensive coverage, easy claim procedures, and extras like key replacement are all provided.
Renowned for its extensive range of coverage options, quick claims processing, and assortment of add-ons.
Provides cashless claims, comprehensive policies, and useful add-ons to enhance coverage.
Offers extensive coverage, quick resolution of claims, and a number of useful extras.
Renowned for its consumer-focused plans, simple claim procedures, and digital-first philosophy.
| Company Name | Key Features | Claim Settlement Ratio | Starting Premium | Network Garages |
|---|---|---|---|---|
| ICICI Lombard | Zero Depreciation, Roadside Assistance | 93% | ₹2094 | 5000+ |
| HDFC Ergo | Comprehensive Coverage, Quick Claims | 96.75% | ₹2371 | 3100+ |
| Tata AIG | Best overall rates, extensive garage network | 98% | ₹2094 | 6900+ |
| Bajaj Allianz | Flexible Coverage Plans, High Claim Settlement | 97% | ₹2200 | 4500+ |
| Reliance General | Numerous network garages. Affordable Plans | 95% | ₹2150 | 5200+ |
| SBI General | Low level of complaints, competitive pricing | 94% | ₹2300 | 3800+ |
| Acko | Instant claim settlement, free pick-up/drop-off | 95% | ₹2094 | 2500+ |
| IFFCO Tokio | Many optional add-on riders | 96% | ₹2250 | 4000+ |
| Future Generali | Quick claim processing, extensive coverage | 94.5% | ₹2180 | 3600+ |
| United India Insurance | Government-backed, reliable service | 92% | ₹2100 | 3200+ |
| National Insurance | Affordable Premiums, good claim support | 91% | ₹2050 | 3000+ |
| Oriental Insurance | Strong customer support, wide coverage | 90% | ₹2120 | 2900+ |
| Liberty General | Customisable Plans, Quick claim settlement | 93.5% | ₹2170 | 3500+ |
| Zurich Kotak | Competitive Pricing, hassle-free claims | 94% | ₹2200 | 3700+ |
| Bharti AXA | High claim settlement ratio, extensive coverage | 95% | ₹2250 | 4100+ |
| Cholamandalam MS | Affordable premiums, good customer service | 92.5% | ₹2130 | 3300+ |
| Shriram General | Budget-friendly plans, reliable service | 91% | ₹2090 | 2800+ |
| Edelweiss General | Digital-first approach, seamless claims | 93% | ₹2160 | 3400+ |
| Royal Sundaram | Strong customer support, wide coverage | 94% | ₹2190 | 3600+ |
| Raheja QBE | Quick claim settlement, Cashless Support | 92% | ₹2094 | 1300+ |
Choosing the right car insurance company requires careful consideration of several factors. Here are some key points to keep in mind:
Decide whether you need third-party insurance (mandatory) or comprehensive insurance (which covers both third-party liability and damage to your car).
Look at different insurers and compare coverage, premiums, claim processes, and add-ons.
A higher claim settlement ratio indicates a company’s reliability in processing claims.
Consider additional coverage options like zero depreciation, roadside assistance, and engine protection.
Reviews can give insight into customer service quality and ease of claim settlement.
A wider network of cashless garages ensures hassle-free repairs.
Don’t just go for the cheapest option; ensure the policy provides adequate coverage.
Coverfox helps you compare insurers within minutes, ensuring you choose the best value-for-money policy.
Get neutral and expert-backed suggestions tailored to your driving habits and risk profile.
Enjoy special discounts and cashback offers exclusive to Coverfox users, helping you get the lowest premium.
Renew policies effortlessly and get real-time assistance for claims processing, making the experience smooth.
Here’s a company-wise summary of some of the top IRDAI-approved car insurers 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, 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:
The make, model, and age of the car impact premiums. Expensive or high-performance vehicles generally have higher premiums due to higher repair or replacement costs.
The IDV, the current market value of the car, affects premiums. Higher IDV leads to higher premiums and vice versa.
Young and inexperienced drivers pose higher risks, leading to higher premiums. Additionally, senior drivers may also face higher premiums due to age-related factors.
A history of accidents or traffic violations often results in increased premiums as it indicates a higher risk of future claims.
Areas prone to theft, vandalism , and accidents, or with higher traffic density may have higher premiums.
Filing a car insurance claim involves several steps:
Immediately inform your insurance company about the incident. Contact their helpline or visit their website to initiate the claim process. Provide necessary details like policy number, location, and nature of the incident.
In case of theft, vandalism, or major accidents, file a First Information Report (FIR) at the nearest police station. Obtain a copy, as it's often required for claim processing.
Collect evidence by taking photos of the accident or damages. Note down the details of involved parties, witnesses, and the scene. Keep all relevant documents like the policy copy, registration certificate, and driving license handy.
If required by the insurer, an appointed surveyor will assess the damages. Schedule an inspection of the vehicle at a designated garage or location.
Fill out the claim form provided by the insurer. Include accurate details of the incident, damages, and other necessary information.
Provide documents like the claim form, copy of the FIR (if applicable), registration certificate, driving license, repair estimates, and any other documents as per the insurer’s requirements.
The surveyor inspects the vehicle to assess the damages and ascertain the claim amount.
After claim approval, the vehicle can be repaired. If the garage is within the insurer's network, you might benefit from cashless repair services.
Once the repairs are complete, the insurer settles the claim. It can be either cashless (where the insurer directly settles the bill with the garage) or reimbursement (where you pay and then get reimbursed by the insurer).
The best insurer depends on your needs. Compare claim settlement ratios, premiums, and benefits.
Use our interactive table to filter by premium, claim ratio, and features.
Each insurer has a different process. Check individual company pages for details.
You can switch at renewal by comparing plans and selecting a new provider.
Here are five of the top car insurance companies in India, known for their claim settlement ratios, policy features, and customer support:
They allow cashless repairs, reducing out-of-pocket expenses.
No, your No Claim Bonus (NCB) is transferable.
