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Car Insurance Companies in India

If you are a new car owner, you will definitely need a car insurance plan to keep it protected against various kinds of accidents and damages. However, there are dozens of car insurance options available in the market, each with its own unique features and benefits. Choosing the perfect car insurance company in India can be difficult and confusing for first-time owners. If you want to pick the right insurer for your car, you can check out our curated list of the best car insurance companies in India that offer third-party and comprehensive car insurance plans. All of the car insurance companies in this list have excellent claim settlement ratios.


List of Car Insurance Companies in India 2022

There are several car insurance companies in India, and it can be quite difficult to pick the best car insurance company. To make your choice a little easier, here is a list of some of the best vehicle insurance companies in India.

1. Bajaj Allianz Car Insurance

With a motor insurance claim settlement ratio of 88% for the financial year 2020, Bajaj Allianz is one of the most trusted car insurers in the country. Here are some of the reasons why you can choose Bajaj Allianz as your desired car insurance provider.


  • 4,500 plus network garages across India

  • Cashless Insurance

  • 24x7 Roadside Assistance with a single call

  • 24-hour Claim Assistance through requests made via email, phone, or SMS

  • The option to transfer No-claim Bonus from your previous car insurance policy (with a maximum limit of 50%)

  • The flexibility to choose add-on covers such as Zero Depreciation, Accident Shield, Consumables Expenses, etc.

  • The option to benefit from Spot Motor Service

  • The ability to opt for a Lock and Key Replacement Cover


    Know more about Bajaj Allianz Car Insurance                                                                                                           

2. Acko Car Insurance

Another trusted name in the list of the best auto insurance companies in the country is Acko General Insurance. It has a Motor Insurance Claim Settlement Ratio of 95% for the financial year 2020-21, and offers the following benefits to its car insurance policyholders.


  • More than 2,000 network garages across India

  • Cashless Insurance

  • Swift and easy purchase of policy

  • Seamless car insurance claims process

  • The option to buy Zero Reduction (Zero Depreciation) car insurance

  • The flexibility to select add-ons such as Return to Invoice, Passenger Add-on, and Engine Protection Add-on, to name a few

  • The availability of Roadside Assistance for adverse situations such as puncture 0f tyres

  • Doorstep facility

  • The availability of cash settlement for minor damages to your car

  • The validity of the No-claim Bonus even after the filing of two claims in a particular policy year


    Know more about ACKO Car Insurance                                                                                                           

3. HDFC ERGO Car Insurance

With a motor insurance claim settlement ratio of 99.5% for the financial year 2021-22, HDFC ERGO is a car insurance company that you can trust as your prospective car insurance partner. Here are some of the salient features of the benefits offered by this car insurer to their customers.


  • A network of 8,000 plus network garages across the country

  • Cashless car insurance

  • 24x7 emergency car insurance assistance

  • Paperless and eco-friendly policies

  • The permissibility for unlimited car insurance claims

  • The ability to renew your car insurance policy without going through the process of a car inspection


    Know more about HDFC ERGO Car Insurance                                                                              

Why Is It Necessary To Buy Car Insurance?

It is important to be aware of why car insurance is necessary, and here are a few reasons why.

1. Compliance with the laws of India

According to the Motor Laws applicable in India, all car owners must have at least a valid third-party car insurance policy. Therefore, it is pivotal to choose a suitable car insurance policy from a trusted car insurance provider.

2. Protection against damages sustained by your car

A Car insurance company offers you insurance plans for protection against any damages caused to your car by a range of causes, for instance, natural disasters such as earthquakes and floods, man-made calamities such as strikes, riots, etc., fire, theft, and accidents.

3. Cover for third-party liabilities

With a car insurance policy, you get coverage against the financial and legal liabilities that may result from an accident involving your car.

4. Personal Accident Cover

A car insurance policy also comprises a Personal Accident Cover for the owner-driver, thereby providing you with some financial security in the event of any accidents and resultant1 injuries.

To Sum It Up

There is no dearth of options for the car insurance company that could offer you the maximum benefits in a car insurance policy at a feasible premium. However, you must have clarity on your car insurance requirements before beginning your search for your car insurer. 

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FAQs on Car Insurance Companies

✔️What type of car insurance is best for my car?

A comprehensive car insurance plan will provide the highest level of coverage for your vehicle.


✔️Can I switch from one car insurance company to another?

Yes, you can switch from one car insurance provider to another. But this is possible only during insurance renewal.


✔️Can I file a car insurance claim online?

Yes, you can file a car insurance claim online on your insurance company’s official website.


✔️What are the factors affecting car insurance premiums?

Your car insurance policy premium depends on various factors like the IDV of your car, your location, type of car insurance policy, etc.

✔️Can I buy Bajaj Allianz car insurance online?

Yes, you can buy Bajaj Allianz car insurance online at Bajaj Markets or the official Bajaj Allianz website.