Best Car Insurance Companies in India – 21+ Top Insurance Companies
Best Car Insurance Companies
car insurance helps you mitigate fiscal obligations that may arise due to an inauspicious event involving your car such as a road accident, fuel, larceny, natural calamities, etc. As per the indian Motor tariff, every car/vehicle owner is legally required to have at least a third party car policy cover for being able to drive their car legally on indian roads .
21+ Top Car Insurance Companies in India with OD Claim Settlement Ratio & Network Garages: IRDAI Approved
Find below the best four-wheeler insurance companies in India with claim settlement ratio (CSR) & network garages.
| Car Insurance Company | Motor OD Claim Settlement Ratio FY20 | Network Garages |
| IFFCO Tokio General Insurance | 95.30% | 4,300+ |
| Royal Sundaram General Insurance | 92.66% | 4,600+ |
| The Oriental Insurance Company | 91.76% | 3,100+ |
| HDFC ERGO General Insurance | 91.23% | 6,800+ |
| Universal Sompo General Insurance | 90.78% | 3,500+ |
| Tata AIG General Insurance | 90.49% | 5,000+ |
| The New India Assurance | 89.60% | 3,000+ |
| SBI General Insurance | 89.51% | 16,000+ |
| Bajaj Allianz General Insurance | 88.83% | 4,000+ |
| Future Generali India Insurance | 88.69% | 2,500+ |
| Bharti AXA General Insurance | 87.99% | 5,200+ |
| ICICI Lombard General Insurance | 87.71% | 5,600+ |
| Liberty General Insurance | 87.48% | 4,300+ |
| Cholamandalam MS General Insurance | 85.89% | 7,100+ |
| National Insurance Company | 85.71% | 3,100+ |
| Edelweiss General Insurance | 84.52% | 1,000+ |
| Reliance General Insurance | 84.26% | 3,800+ |
| Acko General Insurance | 83.91% | 2,000+ |
| United India Insurance Company | 82.93% | 3,100+ |
| Kotak Mahindra General Insurance | 82.81% | 1,300+ |
| Go Digit General Insurance | 80.47% | 1,400+ |
| Magma HDI General Insurance | 79.60% | 4,000+ |
| Shriram General Insurance | 77.26% | 2,000+ |
| Navi General Insurance | 76.20% | 900+ |
Find below the best four-wheel indemnity companies in India with claim village ratio ( CSR ) & network garages. ( source : IBAI ’ s General Insurance Claim Insights Handbook – 5th Edition. )
How To Choose The Best Car Insurance Company In India?
The definition of the best car/vehicle indemnity ship’s company is immanent as it varies from individual to individual depending on their requirements. For some individuals, a car indemnity company that has the highest claim settlement proportion is the best, while for others the insurance company which has a wide network of cashless garages is the best. therefore, there are a number of parameters that make an indemnity ship’s company the best for an person. One should consider the follow factors while choosing a car indemnity company. 1. Network of Cashless Garages There are a number of garages with which a car policy company partners for the facilitation of cashless policy claims. While choosing a car policy company, one must check the lastingness of the network of cashless garages of the indemnity company. One must besides see if there are enough cashless garages in the vicinity of his/her vicinity. 2. Claim Settlement Ratio Claim Settlement Ratio tells the total of claims settled by a car indemnity caller out of all the claims received by it during a fiscal class. It is always good to go with an policy party with a senior high school claim colonization ratio. 3. Availability of Add-ons Add-ons refer to extra coverages that can be opted with a standard car insurance policy to extend the coverage. Add-ons are available with own-damage and comprehensive car indemnity and can be opted for at the time of policy purchase a well as renewal. 4. Customer Support Service One must besides check the handiness and choice of the customer support service offered by an indemnity company. While some policy companies offers 24*7 customer support, some offer 5-day customer aid services .
Buy Best Car Insurance Policy Online With InsuranceDekho
Step 1 : Visit InsuranceDekho and chink on the ‘ car ’ tab key. Step 2 : Enter your car ’ second Registration Number. In case you do not remember it, choose ‘ Do n’t know your car number ? ’ option. After selecting that, a pop up will open asking you your car ’ randomness post name, exemplar, fuel type, variant, registration class, adjustment city and RTO. Step 3 : Fill in your personal details like your mention and Mobile Number and click on the ‘ Submit and Get Quotes ’ release. Confirm the termination go steady of your previous car indemnity policy and the name of your previous car insurance company. Step 4 : All available premium quotes will be displayed to you. You can compare and select the quote which best meets your requirements. You can besides opt for addition covers at this stage to extend the coverage of your basic cable car insurance plan. Step 5 : Enter your personal details, campaigner details and car/vehicle details. Proceed with the requital using your credit/debit card or early internet banking facilities. The policy will be sent immediately to you at your register electronic mail address .
Types of Car Insurance Plans Offered By Different Insurance Companies
On the footing of car/vehicle/4 cyclist indemnity coverage, there are three types of car indemnity plans :
1. Third Party Car Insurance
According to indian Motor duty, every car owner in the area is mandated to have at least a third-party car policy policy. This plan provides you coverage for all third party liabilities such as third party bodily injuries, disability, death a well as property damage which may occur due to any inauspicious event involving your car. The third party property damage is limited to Rs. 7.5 hundred thousand under this design .
2.Standalone Own-Damage Car Insurance
This design provides coverage only for own-damages incurred by your car in any mishap such as road accident, natural calamity, fire, plosion, larceny, orgy, etc. To remain compliant with the legal requirements, you must purchase a third party car policy design with it. A standalone own-damage car indemnity plan gives you the flexibility to choose your own-damage cover and third base party cover from different policy companies .
3. Comprehensive Car Insurance
This is a bundle blanket that offers you coverage for both third-party liabilities ampere well as own damages incurred by your car in an unfortunate event. Among all the three types of cable car indemnity plans, a comprehensive screen offers you the utmost coverage. You can further extend the coverage of this design by opting for add-ons like zero disparagement cover, locomotive cover, etc .
What Does Your Car Insurance Cover?
The coverages offered in different car indemnity plans are as follows :
| car insurance coverage | Third Party | comprehensive |
Standalone
Read more: The 7 Best Car Insurance Companies (2022) |
| Damage/losses caused to your car ascribable to accident | ten | ✔ | ✔ |
| larceny of two-wheel | ten | ✔ | ✔ |
| damage incurred due to fire | ten | ✔ | ✔ |
| Damage/losses due to natural calamity | x | ✔ | ✔ |
| damage to property and third party vehicle | ✔ | ✔ | adam |
| personal Accident Cover ( if opted ) | ✔ | ✔ | ✔ |
|
Injury/ Death of Third Party due to an accident
Read more: The Best Car Insurance Companies for 2022 |
✔ | ✔ | ten |