top 10: best car insurance
companies in india
Motor insurance is a must for all car/vehicle owners and drivers in India. It is mandatory to have third party car insurance in India under the Motor Vehicles Act, 1988. But it is advisable to get comprehensive insurance for your vehicle. A comprehensive car insurance plan not only covers a vehicle against any loss/damage caused by you to a third party (driver/vehicle/property) but also against any loss/damage caused by natural/man-made calamities Saves. Along with this, every insurer offers a host of valuable add-ons on the basic plan to make the coverage even more effective.
top 10: best car insurance companies in india
Types of car insurance policies in India-
Car owners in India can buy two types of car insurance policies. they are:
1- Comprehensive Car Insurance:
A comprehensive car insurance policy provides complete protection to the insured car. It protects the car from all kinds of unforeseen risks resulting from fire, accidents, theft, vandalism, natural calamities and man-made calamities. It also includes any third party contingent liabilities that the policyholder is legally bound to pay. Apart from this, this type of insurance also provides personal accident cover to the owner-driver of the insured car.
2- Third Party Liability Car Insurance:
A third party liability car insurance policy provides protection against any third party liabilities of the policyholder arising out of accidental bodily injuries, death or property damage to a third party. This type of insurance does not cover any loss or damage caused by the insured car or its driver.
Overview of Best Car Insurance Companies in India
Here is a quick explanation of the top car insurance companies that you can consider to secure your car:
Bajaj Allianz Car Insurance:
Bajaj Allianz General Insurance Company Limited is one of the leading car insurance companies that was awarded as the Best Motor Insurance in 2020 by Money Today. It offers comprehensive car insurance policies as well as liability-only policies. Plans are affordable, flexible and can be customized by distance or by day.
Bajaj Allianz Car Insurance provides coverage against legal liabilities of third parties as well as any loss or damage caused to your car due to natural/man-made calamities or theft. It also comes with a Personal Accident (PA) cover of Rs 15 lakh for the owner-driver. You can also opt for CNG kit coverage, NCB discount, accessories cover for co-passenger/paid driver and PA cover for passenger/paid driver.
Bharti AXA Car Insurance:
Bharti AXA General Insurance Company Limited is a popular car insurance provider in India. It provides coverage for damage/damage to your car due to theft, accidents, natural calamities and man-made calamities. Apart from these, it also covers third party liabilities and provides personal accident cover of Rs 15 lakh to the owner-driver.
Bharti AXA Car Insurance offers three types of car insurance plans –
1. comprehensive car insurance
2. Third Party Liability Plan
3. standalone damage plan
Bharti AXA Car Insurance boasts of one of the largest cashless garage network in India. It also gives you the option to choose coverage for legal liabilities to paid cleaners/drivers and loss or damage to baggage on payment of additional premium amount.
Kotak Mahindra Car Insurance:
Kotak Mahindra General Insurance Company Limited is one of the most popular car insurance providers in India. It provides all-round protection to your car with its comprehensive personal car insurance plan. It provides coverage for loss or damage to your car due to natural or man-made disasters with third party legal liabilities, bi-fuel systems and electrical/non-electrical goods.
New India Assurance Car Insurance:
New India Assurance Company Limited is one of the best insurance company with presence in around 28 countries across the world. It is a well-known provider of car insurance that offers both liability-only policies as well as package policies. It provides coverage for owner-driver personal accident, third-party liabilities as well as any loss/damage to your car due to theft, natural and man-made calamities.
New India Assurance Car Insurance also covers towing charges up to a maximum of Rs.1500.
Oriental Car Insurance:
Oriental Car Insurance is a public insurer that provides comprehensive protection to your private car. Its personal car insurance policy has been designed to cover vehicle, third-party liabilities as well as loss/damage caused by theft, natural calamities, fire/explosion/lightning/self-ignition or while in transit. Apart from this, it also provides personal accident cover to the owner-driver.
Apart from offering several discounts and add-on covers, Oriental Car Insurance allows you to opt for CNG/LPG fuel coverage and electrical and electronic item coverage on payment of an additional premium.
Reliance Car Insurance:
Reliance General Insurance Company Limited is another extremely popular car insurer that offers quick insurance solutions for your four wheeler. It offers a comprehensive policy that will protect your car from third party liabilities as well as any loss or damage caused due to collision, man-made/natural calamities or theft. In this, a personal accident cover of Rs 15 lakh has also been offered to the owner-driver.
Reliance General Car Insurance offers two types of plans –
- Third Party Liability Car Insurance Policy
- comprehensive car insurance policy
SBI Car Insurance:
SBI Car Insurance is a popular motor insurance company that offers comprehensive policies to protect your car. It provides coverage for accidental damage to the vehicle, personal accident and third party liabilities up to Rs 15 lakh to the owner-driver. Cover for insured vehicle damage or loss is available against fire, natural calamities, self-ignition, explosion and accidents.
You can also opt for bi-fuel kit cover for passengers, legal liabilities and personal accident cover for employees and paid drivers under your SBI Motor Private Car Insurance policy.
Shriram Car Insurance:
Shriram Car Insurance is a well-known motor insurer that offers protecting solutions for your car. Its comprehensive car insurance policy covers damages to third party property, third party liabilities and damages due to natural calamities, accidents, theft, malicious acts, fire, man-made calamities and explosions.
In addition, you can avail additional coverage by Shriram under your car insurance policy such as personal accident cover for owner-driver, bi-fuel system, electrical and electronic accessories and PA cover for paid driver and anonymous passenger up to Rs.15 lakhs under your car insurance policy. option can also be selected.
Tata AIG Car Insurance:
Tata AIG Car Insurance is one of the most preferred motor insurance providers in the country. It promises to provide your car with all the care that it deserves. Its Auto Secure-Private Car Package policy protects the car from any external loss/damage due to theft, natural or man-made calamities. It also covers any liabilities arising from third parties and provides a personal accident cover of Rs 15 lakh to the owner-driver.
The policyholder can get personal accident cover for paid drivers, car cleaners and passengers as well as electric/electronic fitting cover on payment of additional premium amount.
United India Car Insurance:
United India Insurance Company Limited is a public sector insurer that offers motor insurance policies for private cars. It offers owner-driver own damage cover, third party liability cover as well as personal accident cover. Self damage includes any damage/damage to your car due to fire, accidents, self-ignition, theft, lightning, natural calamities and man-made disasters as well as damage/damage to car accessories.
United India Car Insurance allows you to expand your coverage by opting for Personal Accident cover for named and unnamed drivers, Electrical/Electronic fitting cover, Fiberglass fuel tank cover and CNG/LPG bi-fuel kit cover.
United India Car Insurance also enjoys one of the highest Claims Ratio (ICR) spent in India.