5 Best Car Insurance Companies in India

If you own a car you must know that a car insurance policy is also a mandatory requirement for your car.

Just as driving a car without a valid driving license is illegal, driving without a valid insurance cover is illegal too. To cater to your car insurance requirement, various general insurance companies offer you a comprehensive car insurance policy which has a host of benefits and unique features. But, with so many general insurance companies offering a plethora of car insurance policies, it is confusing to choose the best from the rest. Do you find the task of choosing the best car insurance company daunting?

Worry not. Here are 5 of the best car insurance companies in India which promise you the best car insurance policy. So, let’s find out.

1. ICICI Lombard General Insurance Company Limited

  • A leading name in the privately owned general insurance sector, ICICI Lombard’s Car Insurance Policy offers a comprehensive coverage with great features and benefits which are highlighted below:
  • A comprehensive own damage and third party liability cover with an inbuilt personal accident cover for the owner/driver of Rs.2 lakhs.
  • In case of a claim the policy provides free pick-up and towing facilities to the nearest networked garage.
  • A dedicated Relationship manager to initiate a Loss Assessment Survey within 4 hours of the intimation of a claim.
  • Repairs conducted at a preferred garage come under a 6 month quality assurance guarantee.
  • In case policy getting lapsed, the company provides a surveyor at your doorstep.
  • Good premium discounts through No Claim Bonus (up to 50%), membership of Automobiles Association (5%) and for installing anti-theft devices approved by ARAI (2.5%).
  • A Garage Cash Cover allowance which provides daily cash for each day the car is in the garage for repairs.

2. The Oriental Insurance Company Ltd.

  • A Government owned leading general insurance company Oriental offers the policy called Motor Package Insurance Policy for Private Car. It is a package policy which has the following features and benefits:
  • Four types of premium discounts which lower the insurance premium.
  • A large range of add-on covers available with the policy which includes nil depreciation cover, loss pf personal effects cover and alternative car benefit.
  • The policy offers free emergency assistance if your car breaks down.
  • The company boasts of a high Claim Settlement Ratio which increases the probability of your claims being settled.

3. HDFC Ergo General Insurance Company

  • HDFC Ergo’s Private Car insurance policy offers unique benefits besides the promise of a comprehensive coverage. Here are some unique features and benefits of the car insurance plan offered by the company:
  • Unique premium discounts for government registered professionals and also for individuals above 35 years of age.
  • A high Claim Settlement Ratio of 95% pertaining to motor insurance claims.
  • Flexibility to customize your policy.
  • A dedicated customer support team to process and settle your claim at the earliest.

4. TATA AIG General Insurance Company Limited

  • TATA AIG’s Auto Secure Private Car Package Policy is an all-inclusive motor insurance policy. The policy covers the mandatory third party liability and also damages caused to the car and the driver. The features and benefits of the policy which make TATA AIG one of the best general insurers are as follows:
  • A free pick-up facility for your damaged car
  • Faster claim settlement within 7 days of intimation
  • A choice of 12 add-on covers for increasing the scope of protection for your car
  • No loss of No Claim Bonus even if a claim is made for repairing the glass, plastic, fiber or rubber parts of the car.

5. Bajaj Allianz General Insurance

  • When we are naming the top 5 general insurers for car insurance, how can Bajaj Allianz be left behind! The car insurance policy offered by Bajaj Allianz boasts of exhaustive coverage features along with unique covers too as given below:
  • A unique Drive Smart vehicle tracking system is provided to customers. This system provides various valued-added benefits like geo-fencing and tracking, observation of driving pattern and statistics, monitoring of the health of the car, etc.
  • Cashless settlement across 4000+ network garages.
  • 6 additional top-up covers available for increasing the scope of coverage.
  • 24*7 roadside assistance in case of breakdowns

These are the five best car insurance companies in India. Any policy chosen from any of these insurers would promise you a convenient and hassle-free car insurance experience. So what are you waiting for? Buy or renew your car insurance policy today.

Note to readers:
Car insurance companies is a fairly simple product and the policies offered across insurers do not differ to a great extent. Certain value-added services like roadside assistance, company’s claim settlement ratio and the general customer sentiment on the company’s after sale services often play a great role in choosing an insurer.

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