Today we will discus about best car insurance companies in India

Choosing the right car insurance is a problem for all car owners in India. According to the law of motor vehicles, each vehicle on the road must be insured against third parties with at least one civil liability insurance.

When it comes to buying car insurance, people get confused and end up buying the one that suits them best. It is always a good idea to familiarize yourself with the various car insurance plans available in the market, compare those you consider suitable for your purpose and those that best suit your needs.

Top Best Car Insurance Companies In India

Insurance Here are the 10 best car insurance companies for the year 2019:

Top 10 Car Insurance Companies In India

1) ICICI Lombard GIC Ltd.

ICICI Lombard is one of the largest property and casualty insurance companies in India. ICICI Lombard is an original idea of ​​ICICI Bank and plays an important role in the insurance market, especially in car insurance. The company has sold more than 17 million policies and processed more than 2 million claims at the end of the last fiscal year. They offer insurance products adapted to the needs of urban and rural clients. They offer insurance solutions for personal, project and corporate responsibilities. The ICICI Lombard car insurance covers the following areas:

  • Loss or damage to your vehicle due to natural disasters.
  • Loss or damage to your vehicle due to artificial mishaps
  • Third party liability
  • Accident for personal injuries.

ICICI Lombard also has a smooth application process.

Claim settlement ratio : 90%

2) HDFC ERGO

HDFC ERGO General Insurance is one of the leading car insurers in India. You can use this important car insurer to take advantage of the benefits detailed below.

  • Availability of 24/7 support for claims
  • Rapid approval and immediate publication of the directive. Transparent application process.
  • Highly valued for its ability to pay claims.

Claim settlement ratio : 85%

Also read : Top 5 Best Car Insurance In India

3) TATA AIG GIC Ltd.

TATA AIG GIC LTD. is a joint venture between American International Group (AIG) and Tata Group. Founded in 2001, the company offers a wide range of property and casualty insurance products to meet the needs of individuals and businesses in India. Insurance products include maritime transport, personal injury, extended warranty, civil liability, agricultural insurance, travel, etc. The company has more than 2,500 employees and 9,400 representatives for the public. The company offers insurance services in 98 locations with 152 offices in India.

  • Warranty on repairs
  • Claim settlement in 7 days.
  • Free support
  • Processing without cash in the garages of the network.
  • Unique complements

The 10 best car insurance companies in India

Customers can freely choose the above policies for their insurance needs.

Claim settlement ratio : 87%

4) New India Assurance

This prestigious public sector company operates in 28 countries around the world and is rated impressively by an international agency. You can benefit from the following benefits if you rely on this insurance company to obtain recognition;

  • Claims settlement within 3 days
  • Availability of a free tow bar up to Rs. 1500
  • Appointment of the Surveyor within 48 hours of intimidation.
  • The claim will be resolved 3 days after receiving the receipt.

Claim settlement ratio : 93%

5) United India Insurance Company Ltd

United India Insurance was founded in India in February 1938. The company has a strong position in India and has more than 1,300 branches in the country that offer quality assurance solutions. They have a large workforce of 18,300 employees. They are one of the most reliable insurance companies with a client base of 1 million insured in India. They also have micro offices in more than 200 villages and cities of levels II and III, which also serve the rural population. Your car insurance has the following main characteristics:

  • The proposed car insurance covers two types: fixed price and liability plan.
  • Simple and uncomplicated documentation process
  • There are a number of discounts and bonuses without a claim.

*Please note that the top 10 car insurance companies mentioned above are classified according to the number of claims settlements and insurance policies sold until 2018.

Claim settlement ratio : 80%

Also read: What is RTI In Car Insurance?

6) Bajaj Allianz

Bajaj Allianz is known for its car insurance with easy-to-use features. The benefits of online car insurance are listed below.

  • Availability of updates by SMS and telephone assistance during the holidays, as well as assistance in case of damages.
  • Rewards can be paid by EMI
  • Availability of assistance in case of breakdown throughout the day.
  • DriveSmart telematics service for tracking and monitoring of insured vehicles
  • Availability of towing

Claim settlement ratio : 95%

7) National Insurance Company 

The national insurance company, the state insurance company, was founded in 1906 and nationalized in 1972. Motor insurance, health insurance, etc. The owners of vehicles in the country can contract civil liability insurance or comprehensive insurance with the National Insurance Company. The key characteristics and benefits of the automobile insurance policies proposed by the National Insurance Company are the following:

  • Insureds can buy or extend their auto liability insurance online on the insurer’s website.
  • Handling claim without worries
  • Customer service 24 hours.
  • Choice between liability insurance and comprehensive insurance.
  • Third party compensation up to Rs. 7.5 Lakh in accordance with the provisions of the
  • Association for the regulation and development of insurance in India

Claim settlement ratio : 121.67%

8) Bharti AXA General Insurance

Bharti AXA General Insurance has a large customer base with 79 offices in India. They issued almost 9.8 million insurance contracts and resolved around 1.3 million claims in October 2017. This company is a joint venture between AXA and Bharti Enterprises. It was put into operation in 2008. It offers innovative and comprehensive insurance solutions for various sectors, such as automotive, home, health, etc. The company also offers its customers 24/7 support. The main aspects of car insurance for Bharti AXA include:

  • Large garage without cash with more than 2,500 registered garages.
  • Fast and easy handling of claims

Claim settlement ratio : 89%

Also read: Compare Online Car Insurance

9) The Oriental Insurance Co. Ltd.

The Oriental Insurance Company began operating in Mumbai in September 1947. As one of the pioneers in the insurance industry, the company has a large customer base. The company is managed by the Central Government of India. The insurance products of this company meet the needs of the rural and urban population. The head office is located in New Delhi with 31 regional offices and more than 1,800 micro offices in India.

They only offer car insurance. The car package offers the benefits of general auto insurance with four unique driver options.

Claim settlement ratio : 70%

10) Future Generali India Insurance 

The private general insurer, Future Generali, was founded in 2007 as a result of a joint venture between Assicurazioni General and Future Group. In 2017, the insurer reported that it had more than 12 lakh customers and that it had paid more than 1.80 lakh of accounts receivable since its inception. With a presence in more than 125 cities throughout the country, Future Generali has more than 6,000 insurance agents and more than 2,000 corporate clients that actively serve them. In fiscal year 2017-2018, the insurer reported gross written premiums (GWP) of Rs.1,842 crore, a 16% increase in premiums charged compared to the 2016-2017 fiscal year. In addition, the company recorded a solvency ratio of 172% in the 2017-2018 fiscal year.

Future Generali India Insurance offers a variety of insurance products, including car insurance insurance products. The following are some of the key benefits of the conclusion of a car insurance Future Generali India Insurance:

  • Immediate settlement of claims.
  • 24-hour customer service and regular reminders about the renewal of the policy.
  • Request the finalizations in just 7 days.
  • Towing service 24 hours a day.
  • Transfer of unclaimed bonuses and premium reductions.

Claim settlement ratio : 76.50%

This are top best car insurance companies in india

Which company is best for car insurance in India?

Ans: The Top 5 best car insurance companies are:
1) ICICI Lombard GIC Ltd.
2) New India Assurance
3) Oriental Insurance Co. Ltd.
4) National Insurance Company 
5) Bajaj Allianz

How is IDV calculated for car insurance?

Ans: To calculate IDV Value of your car visit policy planner.


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