Car insurance companies present you with an insurance policy which protects & safeguards you & your car against various damages & risks that may result in financial losses. A car insurance policy can also be considered as a contract that is signed between an insurance company & the car owner. As per this contract, the car insurance company provides you & your vehicle protection against various damages or financial losses which may arise due to accidents, 3rd party liabilities, natural disasters, man-made calamities, fire and thefts.
The best way to protect your car is to look for a comprehensive car insurance plan from the best car insurance company in India to avail maximum financial protection.
Be it fire, theft, man-made/natural calamities, road accidents and more, a comprehensive car cover plan will protect you from damages caused by you and the third-party as well. Additionally, it is mandatory under the Indian Motor Vehicles Act, 1988, to have a third party liability car insurance for every vehicle owner. Not having a third party liability car insurance is an offense as per rules.
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:
| Top Car Insurance Companies | Cashless Garages Network | Incurred Claim Ratio 2019-2020 (%) |
|---|---|---|
| Bajaj Allianz Car insurance | ||
| Bharti axa Car insurance | ||
| Cholamandalam Car insurance | ||
| Digit Car Insurance | ||
| Edelweiss Car Insurance | ||
| Future Generali Car Insurance | ||
| HDFC ERGO Car Insurance | ||
| IFFCO Tokio Car Insurance | ||
| Kotak Mahindra Car Insurance | ||
| Liberty Car Insurance | ||
| National Car Insurance | ||
| New India Assurance Car Insurance | ||
| Oriental Car Insurance | ||
| Universal Sompo Car Insurance | ||
| Reliance Car Insurance | ||
| Royal Sundaram Car Insurance | ||
| SBI Car Insurance | ||
| Shriram Car Insurance | ||
| Tata AIG Car Insurance | ||
| United India Car Insurance | ||
| Raheja QBE Car Insurance |
Update Date: Network Garages List Last updated on 22nd February 2021.
Note: All information has been sourced from the official website of the respective insurance companies. The Incurred Claim Ratio has been sourced from the Insurance Regulatory and Development Authority of India (IRDAI) Annual Report.
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If you are not comfortable with car insurance, no worries. We are here to simplify the car cover plan for you! As mentioned above, it is advisable to select the right car insurance plan from the best car insurance provider. To help you with the same, here is a list of 5 things to consider when looking for a car insurance company:
The quality of customer service can say a lot about the insurance company. Look for existing customers and their reviews or experiences.
Check if the insurer provides an online facility for claim settlement. The online mode can save a lot of time, effort and money.
Always look for cashless garages near your location. Check if your car insurance plan is covered in the list of network garages.
This is the percentage of the total number of claims settled to the number of claims received. Go for a company with a higher claim settlement ratio.
Look for rider options such as zero depreciation, roadside assistance key replacement, engine protection cover and more.
HDFC ERGO Car Insurance is one of India's largest car insurance companies currently conducting insurance business. It is a joint venture between HDFC Bank and ERGO International. The insurer has more than 1.5 crore plus customers. It has one of the largest lists of network garages across the country - 7400 plus.
Rider Options |
Zero Depreciation, Key Replacement, Consumables Expenses, Roadside Assistance, Personal Accident Cover and Downtime Protection |
Type of Plans |
Liability Cover, Comprehensive and Standalone Cover |
Value-Added Services |
Overnight Car Repair Service, Unlimited Claims Service, 20 Minute Claim Approval Process |
Edelweiss General Insurance Company Limited is a part of Edelweiss Group, a multinational corporation of India. It is one of the leading car insurance companies in India that provides a type of comprehensive car cover plan.The company offers a wide range of private car insurance packages which are as follows.
Rider Options |
Zero Depreciation, Key Replacement, Consumables Expenses, Roadside Assistance and NCB Protection |
Type of Plans |
Edelweiss Private Car Only Liability Insurance, Edelweiss Private Car Package Insurance |
Value-Added Services |
No Claim Bonus, Priority Service, Cashless Claims Settlement Process/Network Garages |
Bharti AXA General Insurance Company is another notable car insurance company in India. It is a joint venture between Bharti Enterprises and AXA. Bharti Enterprises is one of the leading financial conglomerates in India. The company offers a wide range of car insurance plans like third party car insurance, comprehensive car insurance and stand-alone damage cover.
Rider Options |
Depreciation Shield, Key Replacement, Consumables Expenses, Personal Baggage, Ambulance Charges, Invoice Cover and Medical Expense Cover |
Type of Plans |
Comprehensive and Third Party Liability Cover, Standalone Damage Plan |
Value-Added Services |
Online Policy Buying/Renewal, 24x7 Assistance, Cashless Claims Settlement Process/Network Garages |
Digit is one of the latest car insurance companies to enter the car insurance market in India. Being a start-up car insurance company, it has successfully entered into India's Unicorn Club (valuation above 1 Billion USD). The company offers a wide range of motor and health insurance products. It was ranked as the Top Indian Start-Up for 2019 and was awarded for being Asia’s General Insurance Company of the Year for 2020-2021.
Rider Options |
Zero Depreciation, Passenger Cover, Consumable Cover, Return to Invoice Cover, Tyre and Engine Protection, Breakdown Assistance and Gearbox Protection |
Type of Plans |
Comprehensive and Third Party Liability Cover |
Value-Added Services |
Online Policy Buying, Cashless Service, Doorstep Service, Cashless Claims |
Future Generali General Insurance Company Limited is a joint venture between the Future Group and Generali Group. The insurer has sold over 8.2 million (82 lakhs+) policies in India along with a strong corporate clientele of 3000 plus clients.
Rider Options |
Zero Depreciation, Key Replacement, Consumables Expenses, Roadside Assistance, Personal Accident Cover and NCB Protection |
Type of Plans |
Comprehensive Cover, Liability Only |
Value-Added Services |
No Claim Bonus, Priority Service, Cashless Claims Settlement Process/Network Garages |
Reliance Car Insurance is one of the most popular car insurance plans offered by Reliance General Insurance Company Limited. The insurer has a list of 5000 plus cashless garage networks.
Rider Options |
Zero Depreciation, Key Replacement, Consumables Cover, Roadside Assistance, Personal Accident Cover and Engine Protection Cover |
Type of Plans |
Comprehensive Car Insurance, Own Damage Car Insurance, Third-Party Car Insurance, Commercial Car Insurance |
Value-Added Services |
NCB, Voluntary Discount, Personal Accident Cover of Rs. 15 lakhs, Security Device Installation, Instant Renewal |
Bajaj Allianz General Insurance is one of India's foremost car insurance companies offering unique products. It is a joint venture between Allianz SE and Bajaj Finserv Limited. The company offers a wide range of two-wheeler, car, CNG Kit, and commercial motor insurance products.
Rider Options |
Depreciation Shield, Key Replacement, Consumables Expenses, Personal Baggage and Engine Protection |
Type of Plans |
Comprehensive and Third Party Liability Cover, Commercial Vehicle Third Party insurance |
Value-Added Services |
Online Policy Buying/Renewal, Voluntary Excess Discount, 24x7 Assistance |
IFFCO Tokio is a joint venture between the Indian Farmers Fertiliser Cooperative Limited and Tokio Marine Group. The insurer has over 4300 plus network cashless garages across India along with 20000 agents & branches across India.
Rider Options |
Zero Depreciation, Key Replacement, Consumables Cover, Roadside Assistance, Personal Accident Cover and Engine Protection Cover |
Type of Plans |
Car Insurance by IFFCO Tokio, Private Two-Wheeler Policy |
Value-Added Services |
Online Buying/Renewal, Quick Claim Settlement, AI-Based Claim Assessment for Damaged Vehicles, Garage and Branch Locator |
The Kotak Mahindra Group is one of the leading financial service providers in India and Kotak Mahindra Car Insurance is offered by Kotak General Insurance. It is a wholly-owned subsidiary of Kotak Mahindra Bank, one of the most popular private sector banks in India.
Rider Options |
Zero Depreciation, Key Replacement, Consumables Cover, Roadside Assistance, Personal Accident Cover and Engine Protection Cover |
Type of Plans |
Liability Cover, Comprehensive Private Two-wheeler Package |
Value-Added Services |
20 Minute Claim Approval Process, AAI Members Discount, NCB/Premium Discounts, Cashless Servicing |
There are plenty of good car insurance companies in India. Currently, HDFC ERGO has one of the largest lists of network garages across the country.
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.
Disclaimer - Above mentioned prices are for a 2 years old Maruti Wagon R, 1.2 VXI AMT OPT (1197 CC) registered in Mumbai & previous policy has expired.
