Top 10 car insurance companies in India in 2018

With the dawning of the New Year, resolutions and wish list have started flooding in. If buying a new car feature in your wishlist, you should not only gather information about the best cars but also about the best car insurance companies in India. Since car insurance with third party liability coverage is a legal compulsion in India; you ought to have one for whichever the car you eventually buy. Even though a comprehensive car insurance cover is optional and you may decide against it. It is strongly advised that you go for it as it takes care of your own insured vehicle as well. You can also opt for car insurance add-on covers if you want to enhance the coverage of comprehensive motor insurance policy. And, to avail these protections you need to settle with the best car insurance company in India not only in terms of coverage but also on the basis of claim settlement record, cashless garage network, customer care service and the likes.

We have sorted out the list of top 10 car insurance companies in India so that you can solely focus on buying the best car available. You just have to choose the best one as per your requirements.

ICICI Lombard

ICICI Lombard can well be your go-to car insurance company in 2018. The company not only offers the regular comprehensive coverage but also comes with the following attractive features;

  • Free roadside assistance up to 50 kms from the breakdown spot which includes Battery jump start, vehicle towing to the nearest garage, arrangement for flat tyre change and spare key, on spot technician for minor repairs and many more services
  • Instant policy issuance online with minimum paperwork
  • Effortless and quick renewal process
  • Garage cash cover offers daily allowance for each day your car is in the garage

HDFC ERGO

HDFC ERGO General Insurance is one of the leading providers of car insurance in India. You can resort to this eminent car insurer to make the most of the benefits on offer mentioned below;

  • Availability of 24×7 Claim Assistance
  • Fast approval and instant Policy issuance
  • Transparent claim settlement process
  • Highly rated for its claim paying ability.

United India Insurance Company Ltd

This public sector general insurance company is one of the front-runners when it comes to choosing the best car insurance company in India. Their car insurance plans are highly sought-after for the following beneficial features;

  • Availability of extended geographical coverage in 6 countries
  • Availability of enhanced coverage for electronic and electrical fittings, LPG or CNG Bi-fuel Kits, Fiber Glass Fuel Tanks of insured vehicles
  • Availability of discount for vintage cars, automobile association Membership, anti theft Device installation and also for specially designed vehicles for physically and mentally challenged persons

Oriental Insurance

Oriental Insurance is another provider from the public sector to make it to the list of top 10 car insurance companies in India. The following features of Oriental car insurance policy make it a lucrative proposition.

  • Availability of extended geographical coverage in 6 countries
  • Loss of Personal effects coverage protects valuable belongings except money, credit cards, mobile and Laptops for an additional premium of Rs 400 and Rs.650 for coverage of Rs.5000 or Rs.10,000
  • Alternative Car Benefit is available for period of 5,10 or 15 days with limit of Rs.400 or Rs.650 per day for vehicles which are disabled and damaged beyond 20% of IDV
  • Availability of free emergency service in selected places like Delhi & NCR, Kolkata and Mumbai and in states like Punjab, Himachal Pradesh, Haryana, Rajasthan and all southern states
  • Availability of discount for voluntary deductible, automobile association Membership, anti theft Device installation

Tata AIG

Car insurance plan available with this private sector player is highly sought-after for 13 add-on covers. Apart from the wide range of car insurance add-on covers, Tata AIG car insurance policies come with the following benefits for car-owners;

  • Availability of Personal accident coverage worth Rs. 2 Lakhs for owner-driver of the insured vehicle
  • Guaranteed claim settlement within 7 days
  • Availability of free pick-up of damaged insured car
  • 13 car insurance add-on covers available including Return to invoice cover, Road Side Assistance cover, NCB Protection cover and Engine Secure cover.

These are the top 5 car insurance companies in India in 2018. Now, take a look at all the leading car insurance companies in terms of claim settlement ratio and network of cashless garage in India.

Car Insurance Companies

Claim settlement ratio

Cashless garage in India

Bajaj Allianz

95%

4000+

New India Assurance

93%

NA

ICICI Lombard

90%

3500+

Bharti AXA

89%

2500+

Tata AIG

87%

NA

HDFC ERGO

85%

5000+

Universal Sompo

81%

3500+

Reliance

80%

3800+

United India Insurance

80%

NA

Oriental Insurance

70%

NA

 Source: mintwise

Now that you are aware of top car insurance companies on the basis of claim settlement ratio and the network of cashless garages, you can easily pick the best provider after going through the beneficial features of rest of the 5 car insurance companies in India in 2018.

Bajaj Allianz

Bajaj Allianz is known for its car insurance policies with customer friendly features. The advantages of availing motor insurance online plan are mentioned below;

  • Availability of SMS updates and call assistance on holidays as well for claims assistance
  • Premium can be paid on EMIs
  • Availability of 24×7 Roadside Assistance
  • DriveSmart Telematics Service to track and monitor insured vehicles
  • Availability of Towing Facility

New India Assurance

This reputed public sector company operates in 28 countries across the world and boasts impressive rating by an international agency.  You can reap the following benefits if you resort to this esteem general insurance company;

  • Settlement of claim within 3 days
  • Availability of free towing facility up to a limit of Rs. 1500
  • Appointment of Surveyor in 48 hours of intimating claim
  • Claim is paid out in 3 days of discharging voucher receipt

Bharti AXA

This private sector player is the first ever general insurance company to have ISO 9001:2008 and ISO 27001:2005 certificates. You can choose to go with this eminent car insurer in India in 2018 and avail the following advantages;

  • Availability of vital car insurance add-on covers such as zero Depreciation cover,  Hydrostatic Lock Cover, No Claims Bonus Protector, Roadside Assistance
  • Coverage is available for batteries, rubber and repairing bags
  • 24X7 claim Assistance is available
  • Assistance is available for loss of keys
  • Availability of wide range of add-on covers

Reliance

Reliance General Insurance Company is the first ever insurance company in India to receive the ISO 9001:2000 certificate. The following features will compel you to go for Reliance car insurance plans.

  • Availability of free Roadside Assistance
  • Online renewal of expired policy without any paperwork
  • Availability of premium discount up to 55%
  • Wide range of add-on covers available through Motor Secure Plus Cover and Motor Secure Premium Cover

Universal Sompo

This private general insurance company provides customers with bank facility. You can settle with this company for your car insurance needs in 2018 for the benefits mentioned below;

  • Optional coverage is available for accessories loss, personal accident to the occupants of the insured vehicle
  • Optional coverage is available for paid driver or any workman such as cleaner
  • Availability of a wide range of car insurance add-on covers
  • Availability of discount for voluntary deductible, automobile association Membership, anti theft Device installation

 Conclusion

In 2018, these providers of online car insurance in India will rock. Once you buy your dream car, settle with any of these insurers and ensure complete safety of your prized set of wheels and complete peace of your mind.

Before making the final choice, you should compare car insurance online companies as the general insurance sector is brimming with several well-established car insurance companies. To compare online car insurance companies easily and conveniently, you can check GIBL.IN out. After comparing and finding the best car insurance company in India in 2018, you can also buy car insurance online right from the portal of GIBL.IN through secured payment gateways.

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