What is a good car insurance company in India?

What is a good car insurance company in India?

Car insurance helps you reduce financial obligations that may arise due to an unfortunate event with your car, such as Traffic accidents, fire, theft, natural disasters, etc.

However, According to the Indian Motor Tariff, every car or vehicle owner is required. According to the law, at least one motor vehicle liability insurance must be in place to legally drive on Indian roads. However, there are currently 25 general insurance companies offering car insurance in India.

What is a good car insurance company in India?
What is a good car insurance company in India?

Types Of Car Insurance Policies in India

Firstly, in india, a car owner can purchase two types of car or auto insurance: One is Comprehensive Car insurance and the other is Third party liability car insurance. Let’s discuss about both,

Comprehensive Car Insurance

Comprehensive car insurance gives the fully protection to the insured car. This insurance protect your car form all kind risk like accidents, natural disaster, theft, fire, man made disaster and others risks also.

However, fully comprehensive insurance is coverage that allows you to replace or repair your vehicle if it has been stolen or damaged in a non-collision incident. Also comprehensive insurance also cover personal accidents to the owner of the car and the insured car.

Third Party Liability Car Insurance

Liability insurance covers an individual or a company against damage caused by a third party. An example is car insurance, which compensates the insured if another driver damages the insured’s car. However, the two main categories of liability insurance are liability insurance and property damage insurance.

Best Car Insurance Companies in India with Incurred Claim Ratio & Network Garages

Find below the best car insurance companies in india with CSR and network garages.

Car Insurance CompaniesNetwork GaragesIncurred Claim Ratio
Bajaj Allianz Car Insurance4000+62%
Bharti AXA Car Insurance5200+75%
Chola MS Car Insurance6900+84%
Digit Car Insurance1400+76%
Edelweiss Car Insurance1000+145%
Future Generali Car Insurance2500+69%
HDFC ERGO Car Insurance6800+82%
ICICI Lombard Car Insurance5600+87%
Kotak Mahindra Car Insurance1000+74%
IFFCO Tokio Car Insurance4300+96%
Best Car Insurance Companies in India with Incurred Claim Ratio & Network Garages
Best Car Insurance Companies in India

Which is the No 1 insurance company in India?

1. Aditya Birla Sun Life Insurance Company with the claim ratio of 97.15%.
2. Aegon Life Insurance Company with the claim ratio of 96.45%.
3. Aviva Life Insurance Company with the claim ratio of 96.06%.
4. Bajaj Allianz Life Insurance Company with the claim ratio of 95.01%.

Which is cheapest car insurance in India?

  • TATA AIG General Insurance Comprehensive insurance price excluding GST Rs. 13,616
  • Digit General Insurance Comprehensive insurance price excluding GST Rs. 15,226
  • Royal Sundaram General Insurance Comprehensive insurance price excluding GST Rs. 17,793
  • Bharti AXA General Insurance Comprehensive insurance price excluding GST Rs. 20,071

Is it OK to buy car insurance online?

The short answer is yes, it is safe to buy or renew car insurance online. The long answer is yes, it is safe to buy or renew car insurance online if you buy from an authentic source.

What is a fair price for car insurance?

The national average cost of auto insurance is $ 1,592 per year in 2021. According to NerdWallet’s rate analysis. That equates to an average car insurance policy of approximately $ 133 per month.