Top 10 Car Insurance Companies In India 2020| Best Car Insurance Firms
- Protect yourself with third party or comprehensive shroud
- Use bumper to bumper policies to reduce your indebtedness
- Enjoy facilities like zero disparagement and roadside aid covers
Choosing the right car indemnity is a concern for every car owner in India. According to the Motor Vehicles Act, every car in use should be insured with at least a third-party indebtedness cover. When it comes to buying a car policy people get confused and sometimes end up buying the one that least favours their insurance needs. It is always a good estimate to make yourself conversant with the unlike car policy schemes available in the market, compare the ones you think will serve your purpose and choose the most desirable one that satisfies your indemnity requirements. To make your sour a small morsel easier, here are the top 10* car insurance firms for the year 2019-20 :
ICICI Lombard GIC Ltd.
ICICI Lombard is one of the top secret general insurance firms in India. A inspiration of ICICI Bank, ICICI Lombard has a stronghold in the policy market, specially for car insurance. The company has sold more than 17 million policies so far and has settled more than 2 million claims by the end of the last fiscal year. They offer policy products designed to meet the needs of customers from both urban and rural population. They provide indemnity solutions that cover personal, project and commercial enterprise liabilities. ICICI Lombard Car Insurance covers the pursuit :
- Loss or damage to your vehicle against natural calamities
- Loss or damage to your vehicle against man-made calamities
- Third Party Legal Liability
- Personal Accident Cover
ICICI Lombard besides has a hassle-free claim colony procedure.
Bajaj Allianz GIC Ltd.
Bajaj Allianz is a joint venture between Bajaj Finserv Ltd. and Allianz SE. Bajaj Allianz commenced its operations in 2001 and has their offices located in over 200 cities and towns across India. The firm caters to the individual policy needs of consumers. They offer a number of insurance and have a bombastic customer base in India. They have built technologically advanced platforms like mobile and digital applications to engage the public. The firm takes capital pride in delivering high measure to their consumers. Their car insurance offers a number of benefits apart from the basic car insurance coverage like :
- 24×7 Roadside Assistance facility
- 50% of No Claim Bonus (NCB) transfer from any other car insurer
- Extensive cashless garage network with over 4000 garages
- The option of availing car monitoring devices through their unique DriveSmart Telematics Service
- Zero depreciation cover is offered as one of the rider options
Bharti AXA General Insurance
Bharti AXA General Insurance has a large customer base with 79 offices situated across India. They have issued close to 9.8 million policy policies and have settled around 1.3 million claims raw as of October 2017. This firm is a joint venture between AXA and Bharti Enterprises and started its operations in 2008. They provide advanced and comprehensive insurance solutions for respective sectors like drive, home, health, etc. The firm besides provides 24X7 claims aid to their consumers. Key aspects of Bharti AXA car indemnity admit :
- Extensive cashless garage facility with over 2,500 registered garages.
- Special add-on policies available like No-Claim Bonus Protector, Depreciation cover, etc.
- Hassle-free and quick claim settlement
The New India Assurance Co. Ltd.
The New India Assurance is a multinational general insurance firm that operates in 28 countries with its head office in Mumbai. They are one of the oldest general insurance firms in India and have been operating for more than 40 years. They have a big customer base and function from 2,452 offices including 1,339 micro offices situated across India. They have 17,702 dedicated employees serving the public with the best policy solutions. The company has more than 230 insurance products under its umbrella. The car insurance plans offered by the fast are straight-forward and cover all the general aspects of a motive policy .
The Oriental Insurance Co. Ltd.
The oriental Insurance Company commenced their operations in Mumbai in September 1947. Being one of the pioneers in the indemnity sector, the firm has a large customer base. The firm is run by the central Government of India. The indemnity products offered by this firm cater to the needs of both rural and urban population. It has its principal function in New Delhi with 31 regional offices and more than 1800 micro offices situated across India .
They offer indemnity for private cars entirely. The private car package offers the general motor insurance benefits with four singular passenger options .
HDFC ERGO General Insurance Co. Ltd
HDFC ERGO is a general policy firm and a joint venture between ERGO International AG and HDFC Ltd. The firm offers a broad stove of insurance products like home policy, centrifugal indemnity, travel policy, etc. that cover charge both personal and commercial enterprise policy needs. The firm has an expanding network with 108 branch offices situated across 91 cities in India. They have an employee basis of 2000 who serve the public with the best indemnity schemes and offers. Besides the use sales violence they have retailers, corporate agents and brokers extending the firm ’ s services to the public. They have launched a mobile app that helps in faster communication, making it easier for the public to reach them .
The car policy offered by HDFC ERGO has some key features including :
- Round-the-clock assistance every day of the week
- Paperless/zero documentation when buying car insurance
- Provides cashless claim service at over 4,800 authorised garages
United India Insurance Co. Ltd.
United India Insurance started its operations in India in February 1938. The firm has a stronghold in India with over 1300 offices across the country providing quality indemnity solutions. They have a large work force of 18,300 employees. They are one of the believe insurance firms with a customer base of 1 Crore policyholders in India. They besides have micro offices situated at over 200 tier II and III villages and towns serving the rural population besides. Their car indemnity scheme has the following key features :
- Car insurance offered is of 2 kinds, package plan, and liability plan
- Hassle-free and easy documentation process
- A number of discounts along with No Claim Bonus are provided
*Please notice that the top 10 car indemnity companies mentioned above have been ranked based on the count of claim settlements and policies sold till 2017.
Read more: The Best Car Insurance Companies for 2022
A state-owned general indemnity party, National indemnity company was established in 1906, and was nationalised in 1972. Headquartered in Kolkata, National Insurance Company deals with motor indemnity, health policy, personal insurance, rural policy, etc. vehicle owners in the state can choose to buy a third-party liability insurance policy or a comprehensive car indemnity policy from National Insurance Company. Listed below are the key features and benefits of car policy policies offered by National Insurance company :
- Policyholders can buy or renew their third-party liability car insurance policy online on the website of the insurer.
- Hassle-free claim settlement process.
- Round-the-clock customer care service.
- Choice between a third-party insurance policy and a comprehensive car insurance policy.
- Compensation for the third-party up to Rs.7.5 lakh as per Insurance Regulatory and Development Authority of India regulations.
A individual general insurance company, Future Generali was established in 2007 following a roast venture between Assicurazioni General and Future Group. In 2017, the insurance company recorded having more than 12 hundred thousand customers and since their origin have settled over 1.80 hundred thousand claims. present in over 125 locations across the area, Future Generali has over 6,000 insurance agents and more than 2,000 corporate clients that they actively service. In FY 2017-2018, the insurance company reported arrant written premiums ( GWP ) amounting to Rs.1,842 crore, a 16 % hike in the premiums collected as compared to FY 2016-2017. In summation, in FY 2017-2018, the company registered a solvency proportion of 172 %. future Generali India Insurance offers a overplus of insurance products including car indemnity products. Some of the key benefits of availing a car insurance policy from Future Generali India Insurance are listed as follows :
- Instant claim settlements.
- Round-the-clock customer support and regular policy renewal reminders.
- Claim finalisations in just 7 days.
- 24/7 Towing assistance following an accident.
- Transfer of No Claim Bonus and premium discounts.
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