Top 10 Car Insurance Companies
Like most Indians, if you are planning to purchase a new car, you would obviously want to keep it well-protected. Herein, find a comprehensive listing of the Top 10 Car Insurance Companies of 2016 that are bound to be an influential presence in 2015. This list of Best Auto Insurance Providers of India is made on the basis of benefits, unique features, after-sale service, claim settlement record and many more. They have left their ineradicable mark on the industry with their growth as well as pioneering services, range of products, and overall financial achievements. We will keep updating you with all the new news about Top 10 Car Insurance Companies of 2017.
Here are the list of Top 10 Car Insurance companies you could go for with your brand new car or your favorite one you have.
Top 10 Car Insurance Companies
#1. Bajaj Allianz General Insurance
One of the imminent car insurance providers in the market that is most talked about is Bajaj Allianz. Bajaj Allianz get registration certificate from IRDA in the May of 2001 and since then has become one of the leading names in the general insurance sector. The USPs of Bajaj Allianz car insurance is given below.
- 1 Lakh additional coverage
- SMS updates for motor claim status
- In case a car gets damaged due to an accident, towing facility is offered
- Cashless repair over 1,500 outlets. Policyholders are eligible for 75% on account payment in case cashless facility is unavailable
- Policyholders can avail high standard service and get their cars inspected at selected workshops
With its unique facilities, this insurance provider has served several customers all over the country. The Company won the ‘Insurer Claims Team of the year’ by Claims Awards Asia 2014. Bajaj Allianz is also honored with ABP News BFSI awards 2015 for the ‘Best Insurance Company of the Year’.
#2. Bharti AXA General Insurance Co. Ltd.
Bharati AXA general insurance company began to operate across the country in 2008. This company is the first in India to secure both ISO 9001:2008 and ISO 27001:2005 certificates in 2009, within its 1st year in operation. The car insurance policies offered by Bharati Axa are highly praised by thousands of car-owners in India. It offers one of the best insurance covers for your automobile in terms of claims and settlements.
The following are the features of Bharati Axa car insurance policy;
- Availability of valuable add-on covers in the likes of Depreciation cover, No Claims Bonus Protector, Hydrostatic Lock Cover, Roadside Assistance
- 100% guarantee of repayment on the depreciated part at the time of settlement
- Assistance available for lost keys
- Repairing cost of rubber, batteries and bags are covered
- Pays for medical, hospital and ambulance charges
Also, maximum roadside assistance for minor breakdowns like car repair, or accidental lock-out /lost key, emergency fuel refill, free services from approved garages, etc. You can get a discount on applying online. Alongside, on paying a little extra, you can get cover in case of an accident, for hospital cash, ambulance charges, and medical expenses for whole family members.
#3. HDFC ERGO General Insurance Co. Ltd
The multiple awards winning HDFC ERGO auto insurance company is founded in 2002 and has one of the highest claim settlement ratios among the private motors insurer. It is an ISO 9001:2008 certified insurance Co. It has been rated the best in 2013 by IAIR (an international rating agency), and iAAA by ICRA. Let’s go through the unique features of HDFC ERGO motor insurance policy.
Age and profession based discounts on certain policies
- Zero documentation
- Quick claim settlement
- Cashless settlement at 1600+ network garages
- Availability of a bunch of discount offers
#4. ICICI Lombard General Insurance
ICICI Lombard is one of India’s largest private sector general insurance Company and its car insurance service has managed to receive accolades from many customers. ICICI Lombard GIC Ltd is known for its tech savvy approach, robust customer support and online EMI application procedures. Its Special Features includes:
- Online purchase of EMIs
- Cashless settlement at 3300+ network garages across India
- Wide range of add-on covers
- Towing assistance
The one company that has outpaced other insurance providers in the race to best car insurance company in India is ICICI Lombard General insurance. This is due to its sole focus on customer satisfaction and paying special emphasis on it. It is also the first organization to have provided digitally signed documents via its web based interface. ICICI Lombard is also rated in a survey in year 2013 as the “The Best Recommended Company” for car insurance.
#5. Reliance General Insurance Company
Reliance General Insurance Company came into existence in the year of 2000 and obtained license from IRDA the same year. Reliance General became the first ever insurance company in India to receive the ISO 9001:2000 certificate. The organization offers extensive coverage in its car policies. Here are some benefits of availing a Reliance car insurance plan.
- free of cost Roadside assistance
- Policyholders can retain No-Claim Bonus that they have earned even after making a claim
- Cashless service across 2300 garages
- valuable add-on covers are available to provide extended coverage
#6. New India Assurance Company Ltd
New India Assurance is a government-owned insurance company which has a strong presence in auto insurance sector with attractive packages. It was founded in 1919 by Sir Dorabji Tata and has 22 branches across the world. New India is the only Indian insurance company to be rated by an international rating agency. A.M.Best Co. rated Assurance Co. Ltd A- (Excellent).
- Decision on claim request is made within 3 days of application
- Surveyor is appointed well within 2 working days after the claim intimation
- claims addressed within 3 days of filing
- Grievance is resolved in 15 days of receipt
#7. Oriental Insurance Co. Ltd
The Oriental Insurance Company Ltd is the central government-owned company founded in 1947. The firm is known for its high claim settlement ratio and quick processing of settlements in addition to many additional value added services. The private car insurance package offered by Oriental Insurance is acclaimed for its simplicity, coverage across many parameters and expert customer support initiative. It has 26 regional offices in India. Besides, it functions in locations such as Nepal, Dubai, and Kuwait.
Here are some highlights of Oriental’s car insurance cover:
- Excellent claim settlement record
- 1800+ branches across India
- Buy/renew policy online
- Valuable add-on covers
- Robust customer support and agent network
#8. Royal Sundaram General Insurance
Royal Sundaram General Insurance covers best car insurance for your car with their best policies. This is also one of the Royal companies in the market as per its name. This private sector company offers quick settlement in 2 working that makes people feel free to go for it among the top car insurance companies. has Royal Sundaram is the first private insurer to get to a license from the Insurance Regulatory and Development Authority of India in the October of 2000.
- 24×7 Roadside Assistance for emergencies
- Dedicated helpline is available 24X7 to help out policyholders in time of claim settlement
- Fast authorization is available to repair damaged cars after an accident
#9. Tata AIG General Insurance
Tata AIG General Insurance offers insurance for commercial vehicles, cars and second-hand cars. Being founded in 2011, it has been considered as one of the best claim service company. It ranked among the top 5 companies to work for the financial and banking sectors. Here are some unique features of Tata AIG that puts the insurer in the top position.
- Pick-up of car is available free of cost
- Warranty for accident-repair is available for up to 6 months
- Claim is settled within 7 days
- Cashless settlement at network garages
One of the main reasons why employees loved working at Tata AIG was the growth and career opportunities offered by the organization followed by the high wage rate and other financial benefits.
#10. United India Insurance Co Ltd
United India Insurance Co Ltd is wholly owned subsidiary of the Indian government and is one of the top car insurance company in Asia with numerous awards in its bag. This car insurance company has the highest claim paying capacity. It has a strong brand value and reputation in the motor insurance sector. It has several benefits like:
- Renew policy via easy mobile app.
- Offered in two forms- package policy & liability only policy
- Attractive discounts offered when user complies with certain requirements
- Nationwide reach
All the Top 10 Car Insurance Companies mentioned above are rated well by the customers. We have compiled this list of the top 10 Motor Insurance Companies in India, assessing them based on customer satisfaction, renewal/purchase policy, claims, service support, special offers, payment options and number of garages/outlets.
Please do share with us your vehicle insurance experiences in the comment box provided below.
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