Best Car Insurance Companies in India

Getting motor insurance is essential for all the car/vehicle owners and drivers in India. It is mandatory to have third party car insurance in India under the Motor Vehicle Act, 1988. But it is recommended to get comprehensive insurance for your vehicle. A comprehensive car insurance plan not only covers a vehicle from any loss/ damage caused by you to a third party (driver/ vehicle/ property) but also protects it from any loss /damage caused by natural/ man-made calamities. To top it up, every insurer offers a host of valuable add-ons on the basic plan to make the coverage even more effective.

Types of Car Insurance Policies In India

Comprehensive Car Insurance

A comprehensive car insurance policy provides complete protection to the insured car. It protects the car from all kinds of unforeseen risks resulting out of the fire, accidents, theft, vandalism, natural disasters and manmade disasters. It also covers any third party accidental liabilities that the policyholder is legally bound to pay. Moreover, this type of insurance also provides personal accident cover to the owner-driver of the insured car.

Third Party Liability Car Insurance

A third party liability car insurance policy provides protection against any third party liabilities of the policyholder arising out of causing accidental bodily injuries, death or property damages to a third party. This type of insurance does not cover any loss or damages suffered by the insured car or its driver

Overview of Best Car Insurance Companies in India

Bajaj Allianz Car Insurance

Bajaj Allianz is one of the leading car insurance companies that was awarded as the Best Motor Insurance by Money Today in 2020. It offers comprehensive car insurance policy as well as liability-only policy. The plans are affordable, flexible and can be customized as per the distance or day.

Bajaj Allianz Car Insurance provides coverage for third-party legal liabilities as well as for any loss or damage caused to your car due to natural/ manmade calamities or theft. It also comes with personal accident (PA) cover of Rs 15 lakh for the owner-driver. You can also opt for CNG kit coverage, NCB discount, accessories cover and PA cover for co-passenger/ paid driver.

Best Car Insurance Companies in India

Getting motor insurance is essential for all the car/vehicle owners and drivers in India. It is mandatory to have third party car insurance in India under the Motor Vehicle Act, 1988. But it is recommended to get comprehensive insurance for your vehicle. A comprehensive car insurance plan not only covers a vehicle from any loss/ damage caused by you to a third party (driver/ vehicle/ property) but also protects it from any loss /damage caused by natural/ man-made calamities. To top it up, every insurer offers a host of valuable add-ons on the basic plan to make the coverage even more effective.

Types of Car Insurance Policies In India

Comprehensive Car Insurance

A comprehensive car insurance policy provides complete protection to the insured car. It protects the car from all kinds of unforeseen risks resulting out of the fire, accidents, theft, vandalism, natural disasters and manmade disasters. It also covers any third party accidental liabilities that the policyholder is legally bound to pay. Moreover, this type of insurance also provides personal accident cover to the owner-driver of the insured car.

Third Party Liability Car Insurance

A third party liability car insurance policy provides protection against any third party liabilities of the policyholder arising out of causing accidental bodily injuries, death or property damages to a third party. This type of insurance does not cover any loss or damages suffered by the insured car or its driver.Best Car Insurance Companies in India with Incurred Claim Ratio & Network Garages

Check out the best car insurance companies in India below with their Incurred Claim Ratio (ICR) and the number of network garages where you can avail cashless repair facility:

Overview of Best Car Insurance Companies in India

Bajaj Allianz Car Insurance

Bajaj Allianz is one of the leading car insurance companies that was awarded as the Best Motor Insurance by Money Today in 2020. It offers comprehensive car insurance policy as well as liability-only policy. The plans are affordable, flexible and can be customized as per the distance or day.

Bajaj Allianz Car Insurance provides coverage for third-party legal liabilities as well as for any loss or damage caused to your car due to natural/ manmade calamities or theft. It also comes with personal accident (PA) cover of Rs 15 lakh for the owner-driver. You can also opt for CNG kit coverage, NCB discount, accessories cover and PA cover for co-passenger/ paid driver.

Bharti AXA Car Insurance

Bharti AXA is a popular car insurance provider in India. It provides coverage for damage/ loss caused to your car due to theft, accidents, natural disasters and man-made disasters. Apart from these, it also covers third-party liabilities and offers personal accident cover of Rs 15 lakh to the owner-driver.

Bharti AXA provides three types of car insurance plans –

  • Comprehensive car insurance
  • Third-party liability plan
  • Standalone damage plan

Bharti AXA Car Insurance boasts of one of the largest cashless garage networks in India. It also gives you the option to choose coverage for legal liabilities to paid cleaners/ drivers and loss or damage of accessories on the payment of the additional premium amount.

Cholamandalam Car Insurance

Cholamandalam is a well-known car insurance providers in our country. Its car insurance policy protects against third-party personal liabilities and third-party property damage. It also covers own damage due to natural/ manmade calamities or theft and provides personal accident cover for owner-driver for up to Rs 15 lakh. It offers three types of car insurance plans in India –

  • Third party car insurance
  • Zero depreciation car insurance
  • Comprehensive car insurance

Cholamandalam Car Insurance has the largest network of cashless garages in India. It will reimburse towing charges for up to Rs 3000. It also allows you to opt for personal accident cover for up to Rs 2 lakh for passengers

Digit Car Insurance

Digit Car Insurance is a leading start-up insurance company that offers comprehensive protection to the insured car. It covers any losses/ damages caused to your car due to accidents, fire, theft, natural disasters along with third-party losses. It also provides personal accident cover to the owner-driver. Digit offers two types of car insurance plans for you to choose from –

  • Third party car insurance
  • Comprehensive car insurance cover

Edelweiss Car Insurance

Edelweiss Car Insurance is another private insurer in India that provides motor insurance solutions. It covers third party liabilities as well as any loss/ damage caused to your car. It also provides personal accident cover of Rs 15 lakh to the owner-driver. You can buy two types of car insurance plans at Edelweiss –

  • Private car package insurance
  • Private car liability only insurance

Edelweiss gives you the option of enhancing your coverage by opting for personal accident cover for passengers and legal liability cover for paid drivers

Future Generali Car Insurance

Future Generali is a popular car insurance company in India. It provides comprehensive coverage for third party liabilities and car damage along with personal accident cover of Rs 15 lakh to owner-driver. You can also opt for additional legal liabilities coverage for paid driver, cleaner or passengers on additional premium payment.

HDFC ERGO Car Insurance

HDFC ERGO is amongst the top-notch car insurance companies in India. Its car insurance policy offers coves third-party liabilities as well as loss/ damage caused to your vehicle in accidents, theft, fire & explosion, natural disasters and theft. Besides, it also offers personal accident cover to the owner-driver. It offers three types of insurance plans for your car –

  • Third-party liability plan
  • Comprehensive car insurance plan
  • Standalone car insurance plan

HDFC ERGO Car Insurance has one of the largest networks of garages. The motor policy also reimburses towing charges up to Rs 1500.

IFFCO Tokio Car Insurance

IFFCO Tokio is one of the leading car insurance providers in the country that provides extensive protection to the insured car. It will offer coverage against loss/ damage to the car following a natural calamity, manmade calamity as well as for third-party legal liabilities. It also provides personal accident cover to owner-driver which can be extended to cover the passengers on the payment of the additional premium amount.

IFFCO Tokio Car Insurance is available in two plan variants –

  • Comprehensive car insurance
  • Third-party car insurance

You can also opt for CNG/ LPG fuel kit cover and damage/ loss of accessories cover by paying extra premium.

Kotak Mahindra Car Insurance

Kotak Mahindra is amongst the most popular car insurance providers in India. It offers all-round protection to your car with its comprehensive private car insurance plan. It provides coverage for loss or damage to your car due to natural or manmade calamities along with third-party legal liabilities, bi-fuel systems and electrical/ non-electrical accessories.

Liberty Car Insurance

Liberty Car Insurance is another motor insurance company that you can consider to purchase insurance for your car. It provides accidental covers, third party covers, own damage cover against theft, natural/ manmade calamities and personal accident cover to the insured car. It provides two types of car insurance plans –

  • Package policy
  • Liability only policy

National Car Insurance

National Insurance is one of the leading car insurance providers in India. It provides protection against third-party liabilities, loss/ damage to the car due to natural disasters, theft and manmade disasters. It also covers towing charges for up to Rs 1500. There are two types of car insurance plans at National Insurance for you to choose from –

  • Annual liability-only policy
  • Annual package policy

New India Assurance Car Insurance

New India Assurance is a top insurance company with a presence in about 28 countries across the world. It is a well-known provider of car insurance that offers both liability-only policy as well as a package policy. It provides coverage for the personal accident of owner-driver, third-party liabilities as well as any loss/ damage caused to your car due to theft, natural and manmade calamities.

New India Assurance Car Insurance also covers towing charges for up to a maximum of Rs 1500

Oriental Car Insurance

Oriental Car Insurance is a public insurer that provides comprehensive protection to your private car. Its private car insurance policy has been designed to cover accidental damage/ loss to the vehicle, third-party liabilities as well as loss/ damage caused during the theft, natural disasters, fire/ explosion/ lightning/ self-ignition or while in transit. Moreover, it also provides personal accident cover to the owner-driver.

Besides offering several discounts and add-on covers, Oriental Insurance also allows you to opt for CNG/ LPG fuel coverage and electrical & electronic items coverage on the payment of additional premium.

Raheja QBE Car Insurance

Raheja QBE Car Insurance is a trusted motor insurance provider in India offering car insurance plans. It provides complete protection from any damages/ losses caused to your car following an accident, natural calamities or theft along with covering third party legal liabilities. In addition, it also provides personal accident cover for the owner-driver

Royal Sundaram Car Insurance

Royal Sundaram Car insurance promises total protection for your car against any unforeseen exigencies. Its Car Shield Insurance policy offers comprehensive car insurance coverage that includes personal accident cover for owner-driver, indemnity for third party property and unlimited third-party liabilities. It provides loss or damage protection from accidental & external damage, natural disasters, fire & explosion, burglary & theft, malicious act and manmade disasters.

Royal Sundaram also provides you with the choice of opting for additional cover including personal accident cover for paid drivers and unnamed passengers, CNG kit/ bi-fuel system cover, legal liabilities for paid drivers & employees and electrical/ non-electrical fittings.

Moreover, Royal Sundaram has the highest Incurred Claim Ratio (ICR) amongst private car insurance companies in India

SBI Car Insurance

SBI Car Insurance is a popular motor insurance company offering comprehensive policies to protect your car. It offers coverage for accidental damage to the vehicle, personal accident to owner-driver for up to Rs 15 lakh and third party liabilities. Cover for insured vehicle damage or loss is available against fire, natural disasters, self-ignition, explosion and accidents.

You can also opt for bi-fuel kit cover, legal liabilities for employees & paid drivers and personal accident cover for passengers under your SBI Motor Private Car Insurance policy.

Tata AIG Car Insurance

Tata AIG Car Insurance is one of the most preferred motor insurance providers in the country. It pledges to provide your car with all the care that it deserves. Its Auto Secure-Private Car Package policy protects the car from any external loss/ damage due to theft, natural or manmade calamities. It also covers any liabilities arising from third-parties and provides personal accident cover of Rs 15 lakh to the owner-driver.

The policyholder can get personal accident cover for paid drivers, car cleaners and passengers as well as electric/ electronic fittings cover on the payment of the extra premium amount.

 

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