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Top 5 Car Insurance Companies in India

Yesterday my friend had bad car accident, his car is in bad condition. Another bad news is that his car insurance policy was expired last month and he has not renewed it. This single mistake of non-renewal of car insurance will cost him few lakh, as he has to bear cost of  repair.

The lesson learned from above is one should understand importance of car insurance policy and renew it regularly. Car Insurance policy provide financial protection against damage. By paying premium of few thousands you are getting complete protection of car. Now million dollar question is that from which company we should take car insurance. To help you out we are herewith list of Top 5 Car Insurance Companies in India.

Car Insurance

To compile this list we have considered various parameters like network of garages, claim settlement ratio, customer satisfaction, service support, discounts, payment options and other facilities. The top 5 car insurers are:-

Top 5 Car Insurance Companies in India

  1. ICICI Lombard General Insurance Co. Ltd.

ICICI Lombard General insurance is leading the list with top position. This company stands first in terms of customer satisfaction. Key benefits offered by ICICI Lombard general insurance are:-

  • Cashless servicing facility at 2900+ network garages across India.
  • Accidental cover facility for co-passengers up-to Rs. 2 Lac.
  • Zero Depreciation Cover
  • Get road side assistance
  • Online purchase
  • Doorstep surveyor facility
  • Get towing assistance in case of a vehicle breakdown
  • Get daily allowance when your car is in the garage
  1. Tata AIG General Insurance Co. Ltd.

Tata AIG General Insurance is on second position. Tata AIG provides insurance for car, commercial vehicle & second hand car. TATA AIG also won Best Claim Service Company in 2012. This company offer following facilities.

  • Free pick-up of car
  • Direct settlement facility at special garages
  • Up to 6-month accident-repair warranty
  • Quality spares and materials, guaranteed
  • Claim settlement in 7 days
  • Add on coverage
  1. Bajaj  Allianz

Bajaj Allianz could be another choice for car insurance. Bajaj Allianz today serve number of customer in car insurance industry. Some unique features offer by Bajaj Allianz are:-

  • Free services at 1500 preferred garages across India
  • Additional coverage of 1 Lakh for the primary holder of vehicle in case of accidents
  • Towing facility in case of breakdown/accidents
  • SMS updates on motor claim status
  1. Bharti AXA Insurance

Bharti AXA Insurance is one of the largest car insurance company in India. This company give many benefit to customer. Some unique selling point about Bharti AXA insurance are:

  • Road side assistance in case of repairs or breakdowns
  • Lock out or lost key assistance
  • Pays hospital cash, ambulance charges, and medical expenses for whole family members
  • Discount on online purchase of policy
  • Free service from Approved Garages
  • Repairing cost of spares like fiber glass, rubber, batteries, air bags are covered
  • 100% repayment on the depreciated parts at the time of claim settlement
  1. Oriental Insurance Co. Ltd.

Oriental Insurance Company is owned by government and it is one of the best company for car insurance. Some services that make it unique are listed below:

  • High claim settlement ratio
  • Fast claim settlement
  • Add-on coverage

What do you think about these insurance companies? Do share your experience with above Car Insurance companies.

Shitanshu Kapadia
Shitanshu Kapadia
Hi, I am Shitanshu founder of moneyexcel.com. I am engaged in blogging & Digital Marketing for 10 years. The purpose of this blog is to share my experience, knowledge and help people in managing money. Please note that the views expressed on this Blog are clarifications meant for reference and guidance of the readers to explore further on the topics. These should not be construed as investment , tax, financial advice or legal opinion. Please consult a qualified financial planner and do your own due diligence before making any investment decision.