List of Car Insurance Companies in India
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.
