In a country like India where diversity always takes the lead, how can there be no variety in terms of choosing the top best car insurance companies? There is a plethora of motor insurance companies in India. Here, I’ll assist you with the top 10 car insurance companies in 2019 on the basis of a number of factors like claim settlement ratio, coverage, cashless garage network, benefits etc and much more.
Picking the right car insurance is a matter of serious concern for every owner of a car in India. As per the Motor Vehicles Act 1988, it’s mandatory for all motor vehicle owners to have at least a third-party motor insurance cover.
Choosing the top car insurance company is equally stressful as buying the best car for the first time. Sometimes you tend to buy car insurance from an insurer that confuses you, which in turn, can cause a severe problem.
In terms of choosing the top car insurance companies in India, the wisest decision is to always make yourself familiar with the different car insurance schemes that are available in the market compare them on the basis of your purpose and requirements that satisfies your insurance needs. To make this task a little bit simpler, I’m providing you with the names of top 10 best car insurance companies in India for the year 2019.
1. ICICI Lombard General Insurance Company Limited
ICICI Lombard General Insurance Company is undoubtedly one of the top private general insurance firms in India. It’s a pet project of ICICI Bank. ICICI Lombard General Insurance has a stronghold in the insurance marketplace, particularly for car insurance. These are the reasons why ICICI Lombard is in the top 10 car insurance companies in India in 2019. ICICI Lombard General Insurance Company products have been meticulously designed to meet the needs of customers from both rural and urban population. The company offers covers for personal, business and project liabilities too. Car insurance from ICICI Lombard offers the following benefits and coverage options:
- Damage or loss to the vehicle due to various natural calamities.
- Damage or loss to the vehicle due to various man-made calamities.
- The company offers 6 months quality assurance on all repairs with their car insurance plans.
- Third Party Legal Liability is covered.
- Ensures you a smooth ride since you can avail cashless repair throughout a wide network of garages.
- The company offers a simple and hassle-free car insurance claim settlement procedure.
- Personal Accident Cover is also offered.
- Free pick-up, wash benefit and towing facility etc are offered at the selected network garages.
- Reimbursement can be claimed if the vehicle is repaired in a garage outside the purview of ICICI Lombard’s network.
​2. Bajaj Allianz General Insurance Company Limited
Bajaj Allianz General Insurance Company is among the top 10 best car insurance companies in India. Bajaj Allianz is basically a joint business enterprise between Bajaj Finserv Limited and Allianz SE. Bajaj Allianz began its operations in the year 2001. The company has its offices located in more than 200 towns and cities all over India.
Bajaj Allianz General Insurance Company caters to the individual insurance requirements of customers. The company provides you with a number of insurance products. Bajaj Allianz has a huge customer base in India, which makes them one of the best car insurance companies in India in 2019.
The company has developed technologically sophisticated platforms like mobile and digital applications to supply the public needs. As a general insurance company, Bajaj Allianz takes pride in delivering sky-scraping value to their customers. The car insurance policies on offers from Bajaj Allianz come with a number of benefits and coverage like:
- The insurance firm offers 24x7 Roadside Assistance facilities.
- The company lets you transfer 50% of No Claim Bonus (NCB) from any other motor insurer.
- Bajaj Allianz has an extensive range of cashless garage network with 4000+ garages across India.
- Comes with option of availing car monitoring devices through unique DriveSmart Telematics Service from Bajaj Allianz.
- As one of the rider options, Bajaj Allianz car insurance comes with Zero depreciation cover.
- You can avail cashless claim settlement services at 4000+ preferred network garages all over India.
- Based on the requirement and when liability is above a certain limit you can receive 75% on account payment facility.
- Towing Facility is provided by the company in the event of an accident or a vehicle breakdown.
3. Tata AIG General Insurance Company Limited
Tata AIG General Insurance Company Limited is basically a joint business enterprise between the Tata Group and American International Group (AIG). Tata AIG commenced its operations in the year 2001. The firm provides a broad range of general insurance products for business and personal requirements all over India.
Different insurance products Tata AIG General Insurance comprise of Personal Accident, Marine Cargo, Liability, Extended Warranty, Travel, Rural-Agriculture Insurance, etc. The company is powered by 2,500+ employees and 9,400+ agents to serve the public nationwide. Tata AIG General Insurance offers their insurance services in 98 locations with 152 branches spanning across the country. All of these factors give Tata AIG General Insurance Company a spot among the top motor insurance companies in India in 2019.
Tata AIG basically offers 5 plans with their motor insurance segment:
- Liability Only Policy
- Auto Secure-Two Wheeler Package Policy
- Auto Secure-Private Car Package Policy
- Long-Term Two Wheeler Package Policy
- Auto Secure-Commercial Vehicle Package Policy
You can freely choose from any one of the above-mentioned motor insurance policies that match your insurance requirements.
4. HDFC ERGO General Insurance Company Limited
HDFC ERGO General Insurance Company is a general insurance firm based in India. It’s basically a joint business enterprise between HDFC Ltd and ERGO International AG. The company provides you with a wide range of insurance products like travel insurance, motor insurance, home insurance, etc. that offers coverage for both business and personal insurance needs.
HDFC ERGO has a growing network with 108 branch offices spanning across 91 cities all over India. The company has a strong employee base of 2000 to serve the customers with the best insurance products and offers. Above and beyond the employed sales force, HDFC ERGO General Insurance Company has retailers, brokers and corporate agents to expand the firm’s services to the consumers. The company has launched a mobile app that can help in faster communication, and makes it easier for the customers’ to reach company support.
The car insurance policies on offers from HDFC ERGO have a number of unique feature and benefits including:
- The company offers round-the-clock assistance every day of the week throughout the entire year.
- Offers cashless claim settlement service through 4,800+ authorized garages associated with HDFC ERGO.
- In terms of buying car insurance HDFC ERGO requires paperless/zero documentation.
5. The New India Assurance Co. Ltd.
The New India Assurance Co. Ltd is basically a multinational general insurance company. It operated in 28 countries worldwide. New India Assurance has its head office in Mumbai, India. New India Assurance is one of the oldest general insurance companies in India that is owned and operated by the government of India.
New India has been operating for over 40 years. New India has a huge customer base and operates from 2,452 offices comprising of 1,339 micro offices spanning all over India. New India assurance has 17,702+ dedicated employees to serve the public with the best insurance solutions. New India Assurance has more than 230 insurance products on offer for their customers. The car insurance plans from New India provide with a comprehensive cover from all the aspects of a motor insurance policy.
6. The Oriental Insurance Co. Ltd.
The Oriental Insurance Company Limited began its operations in Mumbai, India in September 1947. Since OICL is one of the pioneers in the insurance sector, the company has firm has a great customer base. Oriental Insurance Company Limited is public sector farm that is owned and operated by the Central Government of India.
The insurance products on offer from Oriental Insurance cater to the requirements of both urban and rural population. Oriental Insurance has its headquarters in New Delhi. Oriental Insurance has 31 regional offices and 1800+ micro offices all over India.
Oriental Insurance Company offers car insurance policies for both private and commercial cars. The package car insurance plan from OICL offers a number of unique features and benefits.
7. Bharti AXA General Insurance Company Ltd.
With 79 offices operating all over India, Bharti AXA General Insurance has a huge customer base. Bharti AXA has issued near to 9.8 million insurance policies. The company has also settled around 1.3 million claims in total, as of October 2017.
In essence, Bharti AXA General Insurance Company Ltd. is a joint business partnership between Bharti Enterprises and AXA. The company began its operations in the year 2008. Bharti AXA provides with comprehensive and innovative insurance solutions for various sectors like health, home, motor etc. The company also offers 24X7 claims assistance to their nationwide consumers’. Some of the key features of Bharti AXA car insurance comprise:
- Widespread cashless garage facility with 2,500+ registered garages all over India.
- Comes with special add-on covers like Zero Depreciation Cover, No-Claim Bonus Protector etc.
- Bharti AXA General Insurance offers a quick and hassle-free claim settlement
8. United India Insurance Co. Ltd.
United India Insurance Company Limited began its operations in India in February 1938. With over 1300 offices, the company has a strong base in India in terms of providing quality insurance solutions.
United India has a huge labor force of around 18,300 employees. The company is one of the most trusted insurance providers with a customer base of mammoth 1 Crore policyholders in the country. United India Insurance Company also has micro offices spanning at 200+ tier II and III towns and villages to serve the rural population. The car insurance policies from United India have the following key features like:
- United India offers basically two types of car insurance plans: Package Plan and Liability Plan.
- The company offers a hassle-free and easy documentation procedure.
- You can avail attractive discounts along with the No Claim Bonus (NCB).
9. Reliance General Insurance Company
Reliance General Insurance Company is India the very first insurer to receive the ISO 9001:2000 certificate for providing end-to-end services of various general insurance products offered all over India. There are a number of special features of benefits that are offered with Reliance General Car insurance plans.
- Reliance General has a huge network of cashless garages with more than 3800 garages all over India
- Reliance General offers instant renewal of motor insurance without any paperwork
- 24x7 Roadside Assistance is provided by the company
- Comes with comprehensive vehicle insurance cover
- Let’s you choose from a number of effective Add-on covers to enhanced your protection​​​
10. Universal Sompo General Insurance Company Limited
Universal Sompo General Insurance Company is basically a product of a joint business enterprise between the Indian banks viz. Karnataka Banka, Allahabad Bank and Indian Overseas Bank, Dabur Investments which is an investment company and the Sompo Japan Insurance Company, a Japanese insurance company. Universal Sompo General Insurance Company has its headquarters at Mumbai, India. You go with this company for your car insurance requirements in 2019 to avail the below-mentioned benefits:
- Availability of optional coverage for personal accident to the occupants of the insured vehicle, accessories loss etc.
- Availability of optional coverage for the paid drivers
- Universal Sompo General Insurance has an authorized network of garages across India from where you can avail cashless claim settlements.
- The company offers 24x7 customer support. The customer support makes sure that all customer’s concerns and queries are solved the quickest time possible.
- The company offers customer guidance via the web and SMS services.
- The company offers a number of discounts under certain terms and conditions.
Final Say:
The above list of the top 10 car insurance companies in 2019 should make your job of choosing the best car insurance company simple, easier and hassle-free. However, it’s advisable to compare motor insurance plans from these top car insurance companies in 2019. It’s your right to avail the best car insurance and therefore you must make sure that you go in any depth to avail the same. So, let 2019 be your year and avail the best protection from the top car insurance companies in India in 2019.
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