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10 Best Car Insurance Companies in India (Complete list)

Cars are no longer considered to be a luxury. Thanks to the lower priced car models available in the market, almost everyone can afford a car in today’s times. The need of comfortable commute has become important and so more and more individuals are investing in a car for themselves and their families.

As the demand for cars is increasing, so is the demand for car insurance policies. The Motor Vehicles Act, 1988 has made it mandatory for car owners to have a valid car insurance policy. If you own a car you need to get it insured as per the provisions of the Motor Vehicles Act, 1988.

Table of Contents

Types of car insurance policies in India

Car insurance policies come in two variants. These are as follows –

Third party liability policy

This is the policy which the Act mandates. The policy covers the financial liability that you face in case you cause harm to another individual. The liabilities covered include the following –

Third-party car insurance allows you to have a financial cushion in case of third party damage during an accident.It is also a mandatory requirement by law.To read more on third party car insurance and compare various plans, click here.

Comprehensive policy

This policy is a packaged policy which covers third party liabilities and also the damages suffered by the car. If the car is damaged and undergoes any type of repairs, the policy pays for the repair costs incurred. The coverage under comprehensive policies include the following –

Moreover, both third party and comprehensive coverage plans cover personal accident too. If you suffer from accidental death or disablement, you would get coverage of INR 15 lakhs.

Thus, with comprehensive policy car insurance, you get insurance coverage for not just the damage to the third party but also for the costs involved in repairing your own damages. You can read more about comprehensive policy car insurance here.

Since car insurance policies are mandatory, almost all general insurance companies offer car insurance plans. Both third party and comprehensive policies are offered by general insurance companies. There are 33 general insurance companies in India and 31 of them offer car insurance policies. Among so many insurers, how can you choose the best company?

List of 10 best car insurance companies in India

Here is the list of the best car insurance company in India which qualify on all the above-mentioned parameters and provide best car insurance policy –

Armed with this new information, you should be in a good position to compare and purchase top car insurance plans from the preferred company. We understand that with a variety of options available for car insurance in the Indian market, it is not straightforward to choose a best car insurance policy, which is why we have done most of the work for you.

Enter a few required details and let our system hand-pick the most relevant and suitable insurance policies for you!

What does a car insurance policy cover?

Before buying any insurance, it is necessary to check what it covers. For car insurance, it is important to note these inclusions that are covered under a comprehensive car insurance policy:

Benefits offered by the best car insurance companies in India

Here’s a complete list of the benefits offered by the Best Car Insurance Companies in India

1. HDFC Ergo General Insurance Company Limited

The features and benefits of HDFC Ergo car insurance company are –

HDFC Ergo has a wide network of 6,800 garages that provide cashless facility that make repair works hassle-free. The easy application process and multiple policy options also make HDFC Ergo an attractive car insurance option.

2. TATA AIG General Insurance Company Limited

The features and benefits of TATA AIG car insurance company are –

TATA AIG car insurance is known for the quick application process, the customer service team is known to be quite prompt and if you have installed anti-theft devices in your vehicle, you can also avail certain discounts. Click on the link below for more details!

3. ICICI Lombard General Insurance Company Limited

The features and benefits of ICICI Lombard car insurance company are –

ICICI Lombard car insurance offers a number of benefits including roadside assistance in case of an accident to the policyholders. It is one of the most trusted brands for insurance solutions in India with a customer base of over 4 crores. You can read more about the company’s plans by clicking below.

4. Royal Sundaram General Insurance Company Limited

The features and benefits of Royal Sundaram car insurance company are –

These are some of the benefits offered by Royal Sundaram car insurance company for the policyholders. You can get detailed information about car insurance plans from Royal Sundaram by clicking below.

5. Reliance General Insurance Company Limited

The features and benefits of Reliance car insurance company are –

Click the button below to read the complete benefits offered by Reliance car insurance plans.

6. Bajaj Allianz General Insurance Company Limited

The features and benefits of Bajaj Allianz car insurance company are –

Bajaj Allianz offers a number of insurance plans for car insurance. It is one of the most trusted brands in India and offers a lot of flexibility for the insurance policies. You may read more and browse through their offerening by clicking on the link below.

7. IFFCO Tokio General Insurance Company Limited

The features and benefits of IFFCO Tokio car insurance company are –

IFFCO Tokio car insurance offers protection from damages arising out of accidents and thefts, the company has a claim settlement ratio of about 79.19% and is known for the quick turnaround time to issue policies with minimal documentation. You can read more about IFFCO Tokio insurance company and browse through their plans below.

Insurance Company Owned by the Government of India

8. The New India Assurance Company Limited

The features and benefits of New India Assurance car insurance company are –

New India Insurance is an expert in the non-life insurance business and has been in the Indian market since long. New India Assurance company offers comprehensive car insurance plans for protection against accidental and theft-related risks along with a number of benefits that you can check below.

9. United India Insurance Company Limited

The features and benefits of United India car insurance company are –

United India car insurance has a claim settlement ratio of about 91.72%, its policies also offer discounts to companies that install anti-theft devices on their cars. Click on the link below to know more about the company.

How to choose the best car insurance company in India?

There are certain factors which should be considered when choosing the best car insurance company in India. These factors include the following –

If you keep these factors in mind, you can find the best car insurance company in India to buy your car insurance policy from.

How to buy the best car insurance policy from Turtlemint?

Choosing the best car insurance policy online can be tough. Turtlemint is here to help with this! At Turtlemint, you can compare various plans and choose the best car insurance. All you need to do is:

So, consider these factors, compare the available car insurance policies offered by leading insurance companies and then buy the best plan. Turtlemint is an online platform which allows you to compare and buy the car insurance policy of leading insurance companies. On Turtlemint’s website you can find the list of all the leading car insurance plans available in the market. You can also check the plans’ coverage benefits and premiums and then choose the best policy. Turtlemint’s platform, therefore, gives you an easy mode of comparing and buying the best car insurance policy.

We understand that choosing a car insurance can be quite a daunting task, which is why we have made the job simpler for you, simply click on the link below, enter a few details and allow our system to show the most relevant Car insurance policies to you at competitive prices!

So, if you buy a new car or when your existing car insurance policy is up for renewals, choose the best car insurance policy from the leading car insurers. Compare the plans offered by the leading insurance companies and then buy so that you get the best policy.

Also Read:

FAQs: Best Car Insurance Companies in India

Personal accident cover in car insurance policies covers accidental death or disablements. If the owner/driver of the car suffers accidental death or becomes fully or partially disabled in an accident, the cover pays a lump sum amount. The sum insured for personal accident cover is INR 15 lakhs and the premium is INR 750.

There are different types of add-ons available under car insurance plans. The popular ones include the following –

A long term car insurance policy is one which runs for more than a year. As per the latest changes, cars bought on or after 1st September 2018 should have a long term liability cover for three years. In keeping with this mandate, nowadays, long term car insurance plans are available for new cars.

If the car insurance policy is not renewed on time, the coverage would lapse. You would be fined if you are found driving without a valid car insurance cover.

The premiums for liability only policies are determined by the IRDA and they depend on the cubic capacity of the car.

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