It has been mandatory to insure your car as per Indian law. But before insuring your vehicle, you must have to decide which plan you want to purchase and from whom. The best car insurance plans are those that offer comprehensive coverage, top-notch customer service, and trouble-free claims settlement. And the best insurer should be digital-first. To help you choose the best car insurance in India, we have compiled a list of the best car insurance companies in India and shared other valuable information so that you can make an informed decision.
The best car insurance companies in 2024 will be those that can offer the best services, which have the lowest rates, and have the most customer-friendly policies. A car is a big purchase and we should be protected with the right insurance coverage. But with so many options out there, you may not know which company to go with. That’s why we’ve compiled this list of India’s top 10 car insurance companies for you to compare.
Table of Contents
- Here Are 10 Car Insurance Companies in India in 2024:
- Bajaj Allianz Car General Insurance Company
- Key Features and Benefits of Bajaj Allianz
- Which Type of Company Is Bajaj Allianz General Insurance?
- Bharti AXA General Car Insurance Company
- Cholamandalam Ms. General Car Insurance Company
- Future Generali Indian Car Insurance Company
- HDFC Ergo General Insurance Company
- IFFCO Tokio General Insurance Company
- National Insurance Company
- New India Assurance Company
- Oriental Car Insurance Company Limited
- Reliance General Car Insurance Company
Here Are 10 Car Insurance Companies in India in 2024:
Bajaj Allianz Car General Insurance Company
The Bajaj Allianz Car General Insurance Company Limited is one of the leading general insurance companies in India and is certified by the insurance regulatory and development authority of india. 1100 Indian towns and cities. Bajaj Allianz is particularly proud of the iAAA rating that we have been receiving for settling the highest number of claims consistently and we’re honored to have been recognized as one of the country’s best Car Insurances Policy providers. Your faith in us drives us to work even harder to deliver solutions that help you reach your life goals. Bajaj Allianz is particularly proud of the iAAA rating that we have been receiving for settling the highest number of claims consistently and we’re honored to have been recognized as one of the country’s Best Car insurance policy providers. Your faith in us drives us to work even harder to deliver solutions that help you reach your life goals.
Key Features and Benefits of Bajaj Allianz
Multiple Plan Options
- The company offers multiple car insurance plans to cater to your different needs.
- we can choose the best one as per your requirements.
Headquarters – Pune
Incurred claim ratio – 62%
Branches in india – 30
Network Garages – 4000+
Which Type of Company Is Bajaj Allianz General Insurance?
Private insurer – Bajaj Allianz is a Private insurance company located in India. In total, there were 67 insurance operating companies in India. Out of these, 24 were life insurers, 26 were general insurers and five were stand-alone health insurers companies. Bajaj Allianz General Insurance, today, is one of the largest private insurers in the industry with offices in about 950 towns and cities.
The Company received the certificates of registration from IRDA on 2nd May 2001 to conduct the general insurance business in India. The Bajaj Allianz General Insurance, today, is one of the largest private insurers in the industry with other offices in over 1100 towns and cities.
Bharti AXA General Car Insurance Company
Bharti AXA General Insurance Company Limited is one of the leading general insurance companies in india, It is owned by Bharti Enterprises in a combined undertaking with AXA, the global leader in financial protection. Bharti Enterprises holds a 51% stake in this joint venture while AXA Group shares the remaining 49%. This company was founded in 2008 and provides helpful insurance policies for retail and commercial clients. Company Bharti Enterprises is an Indian multinational conglomerate that has a headquarters located in Delhi. It was founded in 1976 by Sunil Bharti Mittal. Bharti Enterprises owns businesses spanning telecommunications, manufacturing, insurance, real estate, hospitality, and food. The group’s flagship company, Bharti Airtel, is a telecom service provider with operations in more than 18 countries across Asia, Africa and Europe. The company ranks amongst the top two mobile networks and operators globally by the number of subscribers that you can add.
- Headquarters – Mumbai
- Incurred claim ratio – 75%
- Branches in india – 104
- Network Garages – 5200+
Cholamandalam Ms. General Car Insurance Company
Cholamandalam MS General Insurance Company Ltd (Chola MS) is a joint venture between Mitsui Sumitomo Insurance Group and the Murugappa Group.
The companies provide a wide range of effective car insurance policies through which you can easily choose the best one for yourself.
The Cholamandalam MS General Insurance Company Ltd (Chola MS) is an Indian insurance firm and a joint venture between the Murugappa Group, an Indian conglomerate, and the Mitsui Sumitomo Insurance Group, the Japanese insurance company.
The firm produces a range of insurance products, including motor, health, accident, engineering, liability, marine, property, travel, and rural insurance for individuals and corporate insurance.
- Headquarters – Chennai
- Incurred claim ratio – 84%
- Branches in india – 93
- Network Garages – 7100+
Future Generali Indian Car Insurance Company
Future Generali india insurance is a joint venture between the Future Group and the Generali Group. The company was established in 2007 and acquired certificates in the years 2013 and 2014.
- Headquarters – Mumbai
- Incurred claim ratio – 69%
- Branches in india – 126%
- Network Garages – 3500+
HDFC Ergo General Insurance Company
HDFC Ergo General Insurance Company Ltd. is a joint venture between HDFC LTD. AND ERGOs Internationals AG, which is the main insurance body of Munich re Group. HDFC ERGO General Insurances Company Ltd. (HDFC ERGO) is a 51:49 joint venture between the Housing Development Finance Corporation Limited, India’s premier Housing Finance Institution, and ERGO International AG, and the primary insurance entity of Munich Re Group.
- Headquarters- Mumbai
- Incurred claim ratio- 82%
- Branches in india- 122
- Network garages- 6800+
IFFCO Tokio General Insurance Company
Incorporated in the year 2000, IFFCO Tokyo Insurance Company is a joint venture between IFFCO and Indian farmers.
Documents Required for Iffco-Tokio Car Insurance Renewal
You will need a few supporting documents when renewing your Iffco-Tokio four-wheeler insurance policy to finish the process. Here is the list of the documents:
- Old car Insurance Policy
- Govt. ID Proofs
- Valid Driving License
- Updated Photograph
- Credit/ Debit Card Details
National Insurance Company
The National Insurance Company is one of the oldest general insurance companies which was established in December 1906. The aim of NIC is to provide world-class products and services to its customers. As the second largest general insurance company, it has a skilled manpower of 14902 and offices all over India as well as in Nepal.
National Insurance Company Limited Has a Range of Coverage Policies Targeting Different Sectors:
Personal Insurance policies which include medical insurance, accident, property, and auto insurance coverage.
- Rural Insurance policies that provide protection against natural and climatic disasters for agriculture and rural businesses
- The Industrial Insurance policies provide coverage for the project, construction, contracts, fire, equipment loss, theft, etc.
- Commercial Insurance policies that provide protection against the loss and damage of property during transportation, transactions, etc.
New India Assurance Company
New india assurance company was founded in 1919 by Sir Dorabji Tata. The company was nationalized in 1973 with the merger of many indian countries.
How Do I File a Claim with New India Assurance Company?
- Original Certificate of Insurance Together with Any?
- The Copies of Airline Tickets.
- The Original Bills or Receipts for the full amount of the claim (Photocopies Not Acceptable)
- The Confirmation By the Hospital of the Dates of Hospitalisation (For Claims for Hospital Benefits)
- Death Certificate (for compensation claims of death by accident)
Oriental Car Insurance Company Limited
The Oriental Insurance Company was established on 12 September 1947. The organization made a humble start with a first-year premium of Rs. 99,946 in 1950.
Features & Benefits
- A lump sum benefit is paid on the diagnosis of the critical disease.
- The cost of a medical second opinion is also covered.
- Up to 45 years, no pre-acceptance medical check-up is required
- The sum insured can be enhanced at every two claim-free years.
- A survival benefit of 30 days is also applicable.
Reliance General Car Insurance Company
Reliance General Insurance Company is a part of the Reliance group and is one of the best insurance companies in india that caters to almost every general insurance product such as motor, health, travel, and much more. Rakesh Jain (CEO)
|Westin, Goregaon, Mumbai, India
|Rakesh Jain (CEO) Hemant K Jain (CFO)Raman Arora (COO) Prabhdeep Batra (CMO)
|This company provides Vehicle insurance, General insurance, Health insurance, Travel insurance, Crop insurance Marine insurance, and home insurance.
As mentioned above the insurance companies, we can’t force you to purchase as per our choice, if you wish to purchase then it depends on you. This article is highly researched by our writers.