Choosing the best car insurance companies in India for yourself or your family is not a difficult task if you are aware of some important factors. Hence, we have compiled a list of the top 10 car insurance companies in India. In this list, we have included both public and private companies.
Bajaj Allianz General Insurance Company Limited
Among the top car insurance companies in India, Bajaj Allianz General Insurance Company Limited has been the first choice for consumers. It offers a wide range of insurance products and services. These include car insurance, health insurance, travel insurance and two wheeler insurance. Moreover, Bajaj Allianz has built a strong network across India.
This company is a joint venture between Allianz SE and Bajaj Finserv Limited. Allianz SE holds a 26% stake while Bajaj Finserv holds a 74% stake.
This company has won the Vijayvavani BFSI Excellence Awards 2015. It has also been ranked as the best general insurance company in Asia. Moreover, it has been awarded as the best insurer in India by The Economic Times. In addition, it has also been ranked as the best insurance brand in India by The Brand Trust Report India Study.
ICICI Lombard
ICICI Lombard Car Insurance is one of the leading car insurance companies in India. This company provides car insurance plans with multiple features to suit individual needs.
When it comes to car insurance premiums, ICICI Lombard offers some of the lowest premiums in the market. The company is also known for its reliable and customer-centric services.
When it comes to claim settlement, ICICI Lombard offers a smooth and hassle-free claim process. You can raise a claim online, by phone or via their mobile app.
ICICI Lombard has a strong cashless garage network of over 3,400 certified garages. With ICICI Lombard's cashless car insurance, you can make a claim easily at the nearest authorised garage. Also, you can avail discounts on approved anti-theft devices.
ICICI Lombard also offers Zero Depreciation Cover, which provides complete coverage on auto parts. You can also opt for discounts for membership with recognised automobile associations in India.
HDFC ERGO
Among the many car insurance companies in India, HDFC ERGO is one of the pioneers. The company has carved a niche for itself in the insurance industry by offering innovative and varied products to cater to the needs of different customers. It has a good reputation for claim settlement and has received an iAAA rating by ICRA.
The company offers a wide range of products in the retail and corporate sectors. The products include car insurance, health insurance, liability insurance, marine insurance, travel insurance and home insurance.
HDFC ERGO offers a variety of discounts on its insurance products. These include discounts for buying online, discounts on safety devices and discounts on own damage premium. It also offers a number of add-on covers.
HDFC ERGO has been rated as one of the best car insurance companies in India. The company offers comprehensive cover to its customers, including zero depreciation cover, third party liability insurance and several other add-on covers.
National Insurance Company Ltd
Probably the only reason why you would consider a comprehensive car insurance plan is because you don't want to be out of pocket should something go wrong. This is where National Insurance Company comes in. This reputable insurer has a robust and well maintained network of branches in all corners of the country. They also offer a slew of insurance schemes including a comprehensive personal accident insurance plan, comprehensive motor insurance plan, health insurance and a comprehensive travel insurance plan. They also have a well-deserved reputation for paying out claims quickly and in full. They also have a solid claims tracking system.
This top notch insurer offers car insurance for all makes and models of cars. They also offer insurance for your motorcycle, scooter and e-bike. Taking out car insurance is an easy and affordable task.
Cholamandalam MS
Founded in 2001, Chola MS has a strong network spread across the country. The motto of the company is T3. Technology, trust, and transparency are the core values of the company.
Chola MS offers a wide range of insurance policies. They have various health insurance plans, travel insurance, and belongings insurance. These policies protect the insured person from life-changing events.
Chola MS has a comprehensive car insurance policy that covers expenses related to an accident. It also provides insurance cover against third-party property damage. The policy comes with a no-claim bonus for every claim-free year. It also covers theft of personal belongings from the insured car. It also provides insurance cover against natural and manmade calamities.
Chola MS offers two different types of two-wheeler insurance policies. The company offers a comprehensive vehicle policy that includes RVB (Reinstatement Value Basis) cover. It also provides roadside assistance cover, consumables coverage, and zero depreciation cover.
