Best Car Insurance Companies in India

Here are the Best Car Insurance Companies in India. Car insurance protects your car from any financial damage that might come in the event of an accident or any unfortunate event.


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Here are the Best Car Insurance Companies in India: Car insurance protects your car from any financial damage that might come in the event of an accident or any unfortunate event. It is a deal between the owner of the vehicle and the insurance provider to defend the policyholder’s protection from financial loss due to harm to the car.

What is Car Insurance?

Car insurance, also known as automobile or motor insurance, is an insurance scheme that protects you against damages sustained if accidental incidents such as a crash, robbery, natural or man-made disasters affect your car. It also provides you with a financial cover in the event that a third-party entity or property is damaged. ​

What are the Benefits of Car Insurance?

  • Cashless Repairs
  • Own Damage Cover
  • Third-Party Damage Cover
  • No Claim Bonus
  • Claim Process
  • Claim Settlement Ratio

Best Car InsuranceBest Car Insurance Companies in India

Name of the company Incurred Claims Ratio for the financial year 2018-19 Network of cashless garages Car insurance policies offered 
TATA AIG General Insurance Company Limited 78% Major garages across India
  • Auto Secure – Private Car Policy
  • 3 Years Standalone Third Party Long Term Auto Secure – Private Car Package Policy
  • Bundled Auto Secure – Private Car Policy
HDFC Ergo General Insurance Company Limited 76% 6800+ garages across India
  • Single year comprehensive car insurance
  • Standalone own damage cover – Private Car
  • Third-party liability car insurance
ICICI Lombard General Insurance Company Limited 75% 7800+ garages across India
  • Private Car Package Policy
Royal Sundaram General Insurance Company Limited 85% 4600+ garages across India
  • Car Shield
Bajaj Allianz General Insurance Company Limited 69% 4000+ garages across India
  • Four wheeler insurance
  • Third-party liability only insurance
Reliance General Insurance Company Limited 86% 4450+ garages across India
  • Car Own Damage (OD only) policy
  • Car insurance
  • Third-party liability insurance
IFFCO Tokio General Insurance Company Limited 88% 4300+ garages across India
  • Car insurance
The New India Assurance Company Limited 95.39% Major garages across India
  • Private car policy
  • Standalone Own Damage cover for Motor Private Car
  • Motor liability-only policy
United India Insurance Company Limited 109.40% Major garages across India
  • Motor package policy
  • Motor liability-only policy
Bharti AXA General Insurance Company Limited 77% 4500+ garages across India
  • Third-party liability-only policy
  • Comprehensive policy

What are the Features of Car Insurance Policy?

Knowing and recognizing the features of car insurance to make the most of it is important for car owners. Best Car Insurance policy

Third-Party Liability:

This insurance protects any third party physical harm or death or property damage that can result from an accident with your insured vehicle. The Motor Vehicle Act allows any car owner to have this car insurance scheme, because in its absence if detected by the traffic police, you will have to pay a penalty. The insurance does not compensate for any harm to the car that is done. ​

Comprehensive Car Insurance or Package Policy:

It covers you and your car along with third-party liability from a variety of threats. Any injury sustained by an accident, robbery, natural calamity, or man-made tragedy to the car is insured. Similarly, it includes the deaths of the driver and/or passengers inside the car in the event of an accident. While not a compulsory practice, it is advisable to provide comprehensive coverage for your car.

Insured Declared Value:

Your vehicle’s Insured Claimed Value Status is the amount you will claim in the event of complete damage or harm to your car. On the basis of its selling price, IDV is determined. Calculated basis The specified sale price of the dealer after deduction of depreciation as per vehicle age.

PREMIUM:

It’s the amount of protection that you pay for. It depends on many variables, such as the model and age of the vehicle, the type of fuel, the city where you work, your age, occupation, etc. To cut back on your premium, you can use your NCB points and other subsidies.

Cashless Claim:

You won’t have to pay for it if you have your vehicle fixed at one of our network garages. The maintenance bill will be paid after by us. This facility is considered a cashless claim. ​

What is covered in Car Insurance Policy?

What is covered in Car Insurance Policy?

Accidents:

Any damages done to your vehicle due to an accident is compensated by any maintenance or replacement expenses. You should get it fixed in one of our cashless network garages, while you will receive your car’s IDV as a refund in case of total damage.

Loss or destruction caused by natural disasters:

Damage to your vehicle done by any natural disaster, such as flooding, earthquakes, storms, tsunamis, lightning, explosions, rock falls, etc., is covered.

Damage or harm due to disasters caused by man:

Harm to your vehicle caused by any attack, theft, or any violent acts is covered. Any disruption that happens during the road, train, air, or elevator transit is also part of the coverage of the policy.

Theft:

When your vehicle is stolen, the insurance company covers your expenses.

Cover for Personal Accidents:

This scheme protects the owner-costs driver’s in situations where the covered vehicle is injured (or killed) while driving. Similar protection is available for the vehicle’s co-passengers and can be added to the scheme by adding an additional fee.

Third-party legal liability:

If a person, vehicle, or property is injured or damaged because of a car accident, you remain safe from damages due to accidental injury.

What is not covered by the insurance policy for cars?

A car insurance policy does not guarantee that the insurer is going to cover the claims. Under the following circumstances, your claim request can be ignored:

Drunk Driving: You would not be protected by the policy if you are caught driving under the influence of alcohol or some other intoxicating medicine. That is therefore an offense that is punishable.

Depreciation or other injury caused: not compensated by any additional harm that could emerge as a result of the initial damage. Likewise, the reduction due to the loss of the valuation of the vehicle is not part of the policy coverage.

No add-on cover required: Any harm is only protected if you have a certain add-on cover. Failing that, those losses would not be protected by the regular policy

Violation of the terms or conditions: Going against the policy wording, such as using your private car for commercial purposes, will disrupt your insurance coverage.

Damage caused by negligence: If the vehicle is damaged due to negligence, such as driving it down a muddy road, or if the damage looks malicious, you will not be compensated by the policy.

Natural wear and tear of the parts and any mechanical or electrical failure are not covered.

There is still no coverage for loss or injury due to war or nuclear threats.

We will not reimburse the fixed amount deducted at the time of the request, known as the standard deduction.

​It is necessary to remember that in cases of fraud or total loss claims, the loss cover does not extend.

Conclusion:

Here we have given you the Best Car Insurance Companies in India. The best partner for your car is car insurance. Knowing that your dream car is financially secured, you can sleep well at night. So, what are you going to wait for? Based on the above criteria, pick the right car insurance company and keep it going.


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