Are you are looking for the best car insurance company? Here we choose the top 10 Car Insurance companies in India.
Your car needs more than just fuel and maintenance.
If you love your car so, why not give it the care it deserves?
But before we move to the list of Car Insurance companies let’s know why you need it.
Car Insurance in India is a mandatory requirement for all new vehicles used whether for commercial or personal use.
Car Insurance claims in India can be accidental, theft or third party claims.
This may include repairing your vehicle’s damage and medical expenses incurred in the event of bodily injury.
Having Car Insurance is a legal requirement and provides financial protection. Driving without a valid car insurance is illegal in India.
In case the vehicle is damaged with an appropriate cover level.
Car Insurance offers financial protection if your car is stolen or vandalized.
It also covers injuries to other drivers, passengers or pedestrians, and their property. In case if accidents occur, it is safe to know that you are financially covered.
Some documents are needed in order to require Car Insurance in India. For example, a properly signed application form, a copy of the vehicle’s RC, a copy of the driver’s license, a copy of the FIR, the original estimate and a copy of the policy.
Note: Accidents are unfortunate events that can leave a huge strain on your whole life if you are not insured.
How Can Car Insurance Companies Help?
A complete Car Insurance can protect you in several ways.
It covers your liability for third parties damages.
It covers you for any car damage that would have occurred due to an accident.
The insurance provider will pay for the repair/replacement cost. Depending on what is required to restore your car in the same good condition as before the accident.
Car Insurance companies also provide protection for the driver and passengers of the vehicle against any injuries sustained as a result of an accident.
Owning Car Insurance can also provide protection against damages arising from lawsuits. And any legal liability that may arise from accidental damage to surrounding property. Or people from the collision/accident of your car.
A more holistic Car Insurance policy can cover the costs associated with this. Such as paying for towing, the cost of overnight stays at the hotel and transportation costs.
Note: Car Insurance is also known as auto insurance, motor insurance or vehicle insurance.
How Many Types of Car Insurance in India?
In India, there are different types of car insurance:
Private Car Insurance: In Car Insurance in India, the Private Car Insurance is the fastest growing sector, as it is mandatory for all new cars. The size of the premium depends on the cost and cost of the car. The condition in which the car is registered, and the year of manufacture.
Two Wheeler Insurance: Two Wheeler insurance of Indian Car Insurance cover accidental insurance for car drivers. The amount of the premium depends on the current showroom price. Multiplied by the depreciation rate set by the tariff advisory committee at the beginning of the policy period.
Insurance of Commercial Vehicles: Insurance of commercial vehicles in the framework of car insurance in India provides coverage of all vehicles that are not used for personal purposes. Such as trucks and HMV. The size of the premium depends on the price for demonstrating. The car at the beginning of the insurance period, the registration of the car and the place of registration of the car.
The car insurance usually includes:
- Loss or damage as a result of an accident, fire, lightning, autoignition, external explosion, burglary, destruction or theft, malicious acts.
- Liability for injuries/death of third parties, property, and liability of third parties to the paid driver.
- When paying the corresponding additional premium, loss/damage of electrical/electronic accessories.
The car insurance does not include:
- Conditional losses, depreciation, mechanical and electrical failure, failure or breakage.
- When a vehicle is used outside the geographic area.
- War or nuclear dangers and drunken driving.
What are the Benefits of Car Insurance?
The minimum amount of insurance is required in all states in India.
Car insurance helps offset huge losses as follows: Provide benefits to survivors in case of accidental death.
It covers lawsuits, including court fees to you as a result of the accident.
Covers vehicle repair bills due to damage caused by an accident.
Tracking damage caused by an accident other than an accident, eg theft, fire, etc.
Extra discounts: Car insurance policies allow premiums discounts for theft or for owning more than one policy with the same insurer. It also offers an extra advantage to extend coverage to others who drive the car with your permission.
The bonus cannot be claimed: If you do not make a complaint during the policy period, a bonus is not offered on renewals, provided you meet certain terms and conditions.
How Safe Buying Car Insurance Online?
Pros and cons of online car insurance are important, in order to know if you are buying car insurance.
Buying online car insurance is becoming more popular. Although it still has not surpassed insurance agents.
If you are thinking about making a leap into online insurance land. Find out what are the pros and cons in comparison with the traditional route of the insurance agent.
Pros of buying Car Insurance online:
- Buy insurance at any time of Day or Night.
- No waiting time for Insurance documents.
- Get answers to your questions about online insurance.
- Potential savings, by skipping the middle person.
Cons of buying Car Insurance online:
- Must call them to talk with a person.
- You need to be your own insurance expert.
- No help in filing a claim.
- Must be computer savvy.
- Home insurance is not usually offered online for multi-policy discounts.
Also, check: 10 World’s Best Auto Insurance Companies in 2018
Top 10 Car Insurance Companies in India for 2018
Choosing the right add-ons for car insurance can save you a lot of money.
Here are the top 10 car insurance companies in India:
|New India Assurance|
|United India Insurance|
Why do not you make sure that you are actually protected as you pay a lot of money to guarantee you, your family, and your car?
Basic car insurance policy is not sufficient as it requires customized insurance to suit your unique needs.
Perhaps you have to pay a little more to get these extra charges, but in return, you will get protection and peace of mind, and who can appreciate it?
Here are top 10 car insurance companies in India reasons to choose.
Bajaj Allianz General Insurance Company Ltd. is the #1 motor insurance company in India.
In our top 10 car insurance companies in India, Bajaj Allianz is in the front row.
Bajaj Allianz General Insurance Company Limited is a joint venture of Bajaj Finserv Limited (recently separated from Bajaj Auto Limited) and Allianz SE. Both have a reputation for professionalism, stability, and durability.
On May 2, 2001, Bajaj Allianz received a certificate on registration and regulation in the field of insurance regulation and regulation (IRDA) for holding various enterprises in India (including the business of Health insurance).
The company has a statutory and paid-up capital of Rs 110 crores. Bajaj Finserv Limited owns 74%, and the remaining 26% belongs to Allianz, SE.
As of March 31st, 2017 Bajaj Allianz continues to be one of the most financially reliable insurers in the industry, supporting its growth, as well as profitability. The company received profit before tax in Rs. 1,078 crore and became the most profitable insurer registering profits after paying taxes in Rs. 728 crore. The company reported a GWP of Rs. 7,687 crores, which is grown by 30.3% over the last fiscal year.
Buy private car insurance here.
Calculate your car insurance premium in just 10 seconds here.
Benefits to choosing Bajaj Allianz:
- 24×7 Spot Assistance.
- Hassle free claim settlement.
- Lock & key replacement cover.
- A quick & easy online purchase process.
- 24×7 telephone service, even on holidays.
- Cashless settlement in more than 4000 garages.
- Receive Instant Claims Assistance & SMS updates.
- 75% of account payment when the cashless facility is not available.
- Towing Facility in the event of a breakdown or accident of a vehicle.
- Transfer up to 50% of your existing (NCB) from any car insurance provider.
Bajaj Allianz is the best car insurance in India, lot’s of Indian trust this company.
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NEW INDIA ASSURANCE
In our top 10 auto insurance companies in India, The New India Assurance is in the second row.
NEW INDIA ASSURANCE CO. LTD, founded by Sir Dorabji Tata in 1919, the Multinational General Insurance Company, today operates in 28 countries and is headquartered in Mumbai, India. Their global business has crossed Rs. 22,270 crores in March 2017.
They are the only direct insurer in India, rated A-(Excellent) by AM Best Company since 2007. Since 2014, they have been evaluated by AAA/Stable from CRISIL. Which indicates that the Company has the highest degree of financial stability to fulfill its obligations to the Insured.
Their Indian operations today cover all territories through 2,452 offices, including more than 1339 Micro Offices. They have 17,702 employees and 68,389 related agents as of June 30, 2017, providing insurance services to their customers.
They have more than 230 products.
Buy private car insurance here…
Private Car more information highlights here…
Who can take the policy?
Any owner of a vehicle whose vehicle is registered in his / her name at the Regional Transport Authority in India.
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In our top 10 car insurance companies in India, ICICI Lombard is in the third row.
ICICI Lombard was founded in 2001 and is based in Mumbai, India.
ICICI Lombard GIC Ltd is one of the leading private sector insurance companies in India for the year ended March 31, 2017, and has a premium (GWP) totaling Rs. 1,062 billion. The company issued more than 17.73 million insurance policies and settled over 2.18 million claims on March 31, 2017
ICICI Lombard award winning company know more…
Please check out what ICICI Lombard customers saying about this company here.
They are the most value creating and admiring the company for risk solutions in India, with global coverage.
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In our list of top 10 motor insurance companies in India, Bharti AXA is in the fourth row.
Bharti AXA Life is a life insurance player, which was launched in 2006.
It brings together a strong financial expertise at AXA Group headquartered in Paris and Bharti Enterprises. One of India’s leading business groups with interests in telecommunications, agriculture, financial services, and retail.
The Joint Venture has a 51% stake in Bharti and a 49% stake in AXA.
The company started national operations in December 2006.
Today Bharti AXA Life has a national trail of distributors trained to provide quality financial advice and insurance solutions for a large Indian client base.
TO BE A LEADER AND THE PREFERRED COMPANY FOR FINANCIAL PROTECTION AND WEALTH MANAGEMENT IN INDIA.
Why Bharti AXA Life:
Reasons to choose Bharti AXA Life:
- A huge focus revolves around every single customer.
- Understand individual customers needs & they offer the right product.
- As an experienced workforce, they are available, Reliable & Attentive.
- The first services, such as specialized claim handlers & 48-hour fund release.
- Permission-based services help make every transaction convenient & hassle-free.
Bharti AXA Life mission is to be the most trusted life insurance company by 2020!
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In our top 10 car insurance companies in India, Tata AIG is in the fifth row.
Tata AIG General Insurance Company Limited is a joint venture between Tata Group and American International Group (AIG).
Tata AIG General Insurance Company Limited has celebrated 18 years of service this year (2018) since its inception on January 22, 2001.
The company has made a mark in the industry, by launching several innovative products and services over the years.
In Tata AIG General Insurance Company Limited, they don’t just insure, they protect!
Refer a friend: Do you know someone who might be interested in their products and services? Just fill out the form and send it, and they will contact them. Click here!
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In our top 10 car insurance companies in India, HDFC ERGO is in the sixth row.
In 2002, HDFC Ltd. and ERGO International AG established HDFC ERGO General Insurance Company Limited, a comprehensive insurance joint venture headquartered in Mumbai.
Know more about HDFC ERGO:
Check out: HDFC ERGO Insurance Company Ltd./Blogs.
Why choose HDFC ERGO Insurance?
24 * 7 Support:
HDFC ERGO provides 24-hour support to provide a convenience and a hassle-free experience.
You can call them on 1800 2700 700 or send an e-mail to firstname.lastname@example.org.
You do not have to go through long steps to purchase online car insurance.
A Million People Trust On HDFC ERGO:
HDFC ERGO brings more than 75 lakhs benefits to their customers ‘happy customers and is a brand that responds to customers’ insurance needs.
For this brand, ICRA is assigned “iAAA” which indicates maximum payment ability.
Fair & transparent claims settlement policies:
HDFC ERGO car insurance claims will be resolved with the highest transparency.
Benefits of purchasing HDFC ERGO online insurance policy
Round the clock support:
Claim assistance 24×7.
It is expected to be approved within 24 hours after the vehicle arrives in the garage.
Cashless claim service:
You can use cashless claims service in over 5300+ licensed networks of garages across India.
No claim bonus:
You can also use the no claim bonus for all claims-free years.
Purchase online for additional convenience:
Regardless of where you go, you can purchase immediately using mobile apps.
Thanks to paperless documents and quick approval, you can download your policy documents if payment of insurance is successful.
Learn more: such as Sum Insured, Coverage, Optional Covers, Add-on Covers, Exclusions and so on.
HDFC ERGO Car Insurance Policy FAQs click here.
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In our top 10 car insurance companies in India, Universal Sompo is in the seventh row.
Mr. O.N Singh, the founder of Universal Sompo General Insurance, has more than 46 years of experience in the areas of Senior Consulting, Business, and Strategic.
In his long career, Mr. O.N Singh worked on several functions in the field of banking and insurance. He began his career in 1971. In 2003, he was appointed Chairman and Managing Director of Allahabad Bank. He also worked with the Industrial Investment Bank of India as Chairman and Managing Director from 2004 to 2006.
In 2007, Mr. ONSingh was selected by the Ministry of Finance to create India’s first private private private state-owned enterprise, namely Universal Sompo General Insurance Co. Ltd in the General Insurance Industry with two public sector banks, namely Allahabad Bank & Indian Overseas Bank, one private sector bank, namely Karnataka Bank, one FMCG company, namely the Dabur Group and the leading Japanese insurance company, namely Sompo Japan Nipponkoa General Insurance Inc.
Know more about Universal Sompo:
Why Universal Sompo?
- 24×7 LIVE
- Big Network
- Going Forward
- Bank Facility
- Listen to People
- Financial Support
- Advanced Technology
- World Class Services
- DNA – Indian & Japanese
- Well Educated Employee
- Care Your Daily Living
- Smooth Claim Settlement
- Continue Relationship
- Services AT ALL Times
- Commitment & Efficient
Customer Care Helpline:
- 1800 22 4030
- 1800 200 4030
RELIANCE GENERAL INSURANCE
In our top 10 car insurance companies in India, Reliance General Insurance is in the eighth row.
They are proud to be one of the most leading insurance companies in India. They have a huge client base, which includes people like you, corporations and SMEs.
Thanks to its 139 offices and more than 26,587 intermediaries across India, you can contact them and get the services there at your discretion. In addition, with the help of online services and telecoms, they have become even more accessible.
You can find them for many of your insurance decisions regarding motor, health, home, travel, marine, etc. Due to their products and services, they try to meet the individual needs of each client, offering individual plans. In their aspirations to delight their customers, they seek to develop innovative products, such as India’s first health insurance policy and home accident insurance.
Get up to 65% discount on Reliance Car Insurance click here to know more.
If you want claims then please click here.
Know more about Reliance General Insurance
Reliance is the best general insurance company in India, which really cares about its customers.
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UNITED INDIA INSURANCE
In our list of top 10 car insurance companies in India, United India Insurance is in the ninth place.
United India Insurance Company Limited was incorporated as a company on February 18, 1938.
The general insurance business in India was nationalized in 1972.
12 Indian insurance companies, 4 cooperative insurance companies, and Indian operations from 5 foreign insurers, except general insurance operations in the southern region.
The India Life Insurance Corporation was merged with United India Insurance Company Limited.
After nationalization, United India grew by leaps and bounds, and by 1,340 offices with 18,300 jobs, insurance coverage was granted to more than one insurance policyholder.
The company has a variety of insurance products to provide insurance protection against trolleys for bullock carts on satellites.
Know more about UIIC:
For more information kindly visit UIIC site click here.
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In our list of top 10 car insurance companies in India, Oriental Insurance Company is in the last place.
The Oriental Insurance Company Ltd was registered in Bombay on September 12, 1947.
The company was a subsidiary of Oriental Government Security Life Assurance Company Ltd and was established to conduct business throughout the insurance business.
The company was a subsidiary of the Indian Life Insurance Corporation from 1956 to 1973 (before the country’s national insurance business was nationalized).
In 2003, all shares of our company, owned by the General Insurance Corporation of India, were transferred to the Central Government.
Know more about Oriental Insurance:
Jump directly to private car policy click here A to Z details.
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These are the best car insurance company in India which gives you the best facility.
In the end, you can also check out these 2 car insurance companies, which are also a good choice.
What is (NCB) No Claims Bonus & How to Protect It?
Saftey Rules While Driving a Car: Must Follow!
- Never Drink & Drive.
- Always Wear Seat Belt.
- Never Break Red Signal.
- Always Avoid Distractions.
- Always Drive-In Speed Limit.
- Regular Maintain Your Vehicle
- Watch Out For Drivers On the Road.
- Avoid the Drowsiness While Driving.
- Follow 3 Seconds Rule – Keep a Safe Distance.
- Be Extra Careful in Bad Weather or Poor Driving Conditions.
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