Best Car Insurance Companies In India


Vehicle Insurance is mandatory in India. It covers protection against theft, fire damage accident or any other natural calamities. One has to choose the right insurance policy to have a good claim at the time of need. Many companies provide insurance for the car by giving competitive offers and rates, so it is difficult to select the best one. One should not fall on seeing cheapest insurance premium as the cheapest premium will give only lesser claim.

car insurance

Types Of Vehicle Insurance:

There are 2 types of Insurance in India

  • Third Party Liability Insurance is mandatory to opt for a Third Party Liability Only Policy before hitting the roads. It covers any legal liabilities towards the third party for injury, death or property damage caused by your vehicle.
  • Comprehensive Car Insurance gives overall protection against damages to both parties involved in an accident. It covers damages to car, theft, legal liability to third-party, and personal accident. There are some add-on provided along with this policy which will give lot of benefits like engine protection, medical claim, and more., It is always more beneficial than the third party liability Insurance.

FACTORS IN SELECTING POLICY

There are things you should look down to the best company offering car insurance

  • Reputation: Some insurance premiums will be cheap but services end up being terrible. Go for a good company that has a very good claim history. Then you know they are not going to mess with your claim process.
  • Services offered: Choose companies that are present all around the country. Even features like roadside assistance needs presence 24/7, Zero Depreciation, Engine Protect, etc.,
  • Policy Coverage: Exactly what does the policy cover, the inclusions and exclusions and the terms and conditions associated with it. This is usually similar to most insurance companies.

MISTAKES IN CHOOSING A COVER

  • Value of the car: Never reduce the value of IDV for the lower premium, which will result in a lesser claim than the real value of a car in case of an accident. Always choose the policy that offers maximum IDV on a vehicle, even it has slightly higher premium.
  • Lapse of Policy: In case of lapse of policy insurance provider may give a grace period for a week within that time one has to renew their policy, or else it is a risk of driving car.

BEST INSURANCE COMPANIES FOR CAR

  • National Insurance Company Ltd. Among the vast number of car insurance company in India, the national insurance company has its reach over many people. According to the company, there are in total 1000+ offices in India. A special range of car and motor insurance as two wheelers and four wheelers are an available and separate section for Commercial Insurance.
  • United India Car Insurance: It is a state-owned General Insurance Company. Some of the features that lead the company to top position are renewed policy featured with easy steps by mobile app, there are 2 forms for a policy offered Package policy and Liability Policy.
  • Bharti AXA Car Insurance: It offers Instant car insurance policy and renewal online. The company has widespread cashless garage network of over 2500+ garages across India. The car insurance offers comprehensive coverage along with options of add-on covers to enhance coverage.
  • TATA AIG Car Insurance: This is being offered by India’s most trusted TATA group along with AIG. The car insurance is loaded with features for comprehensive protection and also optional add-on covers. It has 3800+ cashless garages over nationwide.
  • Bajaj Allianz Car Insurance: It provides third-party liability along with own damage cover. It has around 4000 cashless garages. Also provides mobile app services round the clock. The company is known for quick claim settlement.
  • The Oriental Insurance Co: It’s fully owned by the Central Govt. It’s been the winner of the most reputed awards over the years, the quickest claim settlement, offers various value-added services like paying premiums online, renewing/purchasing policies, free benefits of emergency services at various outlets/offices.
  • The New India Assurance Co: It is the largest Central Government owned (based on premium) general Insurance Company It’s an ‘A’ rated company by A.M. Best Company an international rating agency. It provides a quick process for claims. It also gives attractive packages like; claims addressed within 3 days of filing and in all 15 days of problem resolving.
  • ICICI Lombard General Insurance Co: It is a Private Insurance company. It offers some of the best and easiest premium paying options. There is zero depreciation up to two policy covers. It has over 2900 garages, It has earned the reputation of being the most Customer Responsive Insurance Company.
  • HDFC ERGO General Insurance Co: This is a private insurance company. It was the highest claim settlement ratio. It offers age and profession based discounts on certain policies. There is an option for cashless settlement.

SEE ALSO: Can I Get Car Insurance Online?

These are the few best companies that provide car insurance, select the best company for your car by going through the factors and never risk yourself by choosing the wrong policy. So choose the right policy for your car insurance and have a safe journey…

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