5 Best Car Insurance Companies in India March 22

The Motor Vehicle Act 1988 says that you must have at least third-party car insurance. It’s better to have a comprehensive policy that covers both third-party liabilities and damage to your own car, so you can pay for both.

There are so many different car insurance companies to choose from that it can be hard for one person to pick the best policy. There are more than 26 car insurance companies in India, and they all offer different plans. Every insurance company has its own benefits and features, but they all work together to make a good deal.

We have made a list of the Best 5 car insurance companies in India in 2022

HDFC ERGO General Insurance82%6800+
Reliance General Insurance85%3700+
ICICI Lombard General Insurance87.84%4300+
SBI General Insurance87%5400+
IFFCO Tokio General Insurance87%4300+

IFFCO Tokio car insurance

Best Car Insurance Companies in India
Best Car Insurance Companies in India

Tokio car insurance is easy and smooth, you can now buy or renew your car insurance online. The whole thing is as simple as buckling your seat belt.

An insurance company called IFFCO Tokio General Insurance co. Ltd. is a joint venture between IFFCO (Indian Farmers’ Cooperative) and Tokio Marine and Nichido Fire Group, which are both parts of the Tokio Group.

In 2000, it was formed as a company. In 20 years, the company earns the trust of its customers by providing great and easy services.

The company was made to make sure that your car is completely safe and protected from any accident that could cause it to be damaged.

An 87 percent settlement rate for claims is the rate at which the company gets them paid.

Following are some of the most important things the company has to offer:

  • Across the country, there are 4300+ garages where you can pay with cash.
  • The company claims to be able to settle a claim quickly in 4 hours.
  • The company has a help desk across India that is open 24 hours a day to answer questions about claims.
  • Right at your door, you can get a free inspection and renewal of your insurance plan.
  • 24-hour customer service for claim settlement.
  • More than 11 extra benefits are offered by the insurance company, and there are more than that.

SBI Car Insurance

Best 5 car insurance companies in India in 2022
Best 5 car insurance companies in India in 2022

As India changes, SBI General Insurance is there to help you get back on your feet when things get tough.

You can get full and third-party policies from it, and it has a good reputation in the insurance business.

There is a company called SBI General Insurance Company Limited that is owned by the State Bank of India and the Insurance Australia Group (IAG).

SBI owns 74% of the total capital, and IAG owns the other 26%.

An 87 percent settlement rate for claims is what the company does for people.

SBI General has also set up shop in 14,000+ branches of the State Bank of India, which adds to its reach across India.

Following are some of the most important things the company has to offer:

  • Owners can get accidental coverage for up to Rs. 15 lakhs while driving, and passengers can get coverage for up to Rs. 2 lakhs per person while they are in the car with them.
  • CNG/LPG bi-fuel kits and lost items are also covered by the policy.
  • 9 extra benefits are available in the policy, such as depreciation reimbursement, ROI, NCB, Engine Guard, cover for consumables, and so on, which can be added on.
  • The policyholder gets roadside help from the company 24 hours a day, seven days a week.
  • More than 5400 registered garages with cashless repair and service options are available across the country.

ICICI Car Insurance

Best Car Insurance Companies in India
Best Car Insurance Companies in India

ICICI Lombard car insurance is easy to buy and renew online. You can choose an annual or long term insurance policy (3 years for new vehicles

You should know that it is one of the most well-known names in the insurance business.

They have low premiums, easy renewals, and quick claims settlements. In 2001, the ICICI Lombard car insurance company was founded. In 2020, the company has a Gross White Premium (GWP) of 135.92 billion, which is how much money the company makes (FY 2020).

In total, there are 273 branches and 840 virtual offices across the country.

There is an 87.84 percent chance that the company will pay out on claims.

Following are some of the most important things the company has to offer:

  • There is insurance that will pay for things like theft, accidents, and terrorist acts.
  • In case of natural disasters like an earthquake, floods, fires, and storms, you should have a plan.
  • A no-claim bonus of up to 50% (subject to examine the policy properly).
  • In case of an accident, you’ll get $15,000.
  • 9 extra benefits can be added to the policy.
  • Instant claim settlement through the InstaSpect App.
  • Across the country, there are more than 4300 cashless repair and service garages.

Reliance Car Insurance

Best Car Insurance Companies in India

There was a company called Reliance General Insurance in 2000. As a group, it has more than 29,000 agents in India.

They are known for their low prices and quick renewals.

They offer quick, easy, and hassle-free ways to get your car insurance.

There was a reason they were named “General Insurance Company of the Year 2015.”

CSR stands at 85 percent for the company.

Following are some of the most important things the company has to offer:

  • More than 3700 registered garages with cashless repair and service options are available across the country.
  • As long as you didn’t make a claim, the company gave you up to 50%. (subject to examine the policy properly).
  • The company gives free roadside help worth Rs. 500.
    Using Easy Video Claims, the company makes the claims process faster.
  • There are 7 extra benefits that can be added to the car insurance policy.
    In the policy, you can also get coverage for your own damage and for damage to other people.

HDFC ERGO Car insurance

It is owned by HDFC Ltd. and ERGO International, with 51:49 shares each.

It has more than 200 branches and more than 7000 employees all over India, so it’s a big company.

There are more than 1 million policyholders with HDFC ERGO car insurance, which shows that the company has a lot of people who trust it. This shows why HDFC ERGO is the best insurance company.

CSR is 82 percent, which shows that the company is willing to help.

Here are a few important things the company has to offer:

  • An overnight car service is offered by this company. The repair is done a night, and the car is delivered to your home by the next morning.
  • All over India, there are more than 6800 registered garages with cashless repair and service options.
  • The company helps the policyholder get to the roadside 24 hours a day, 7 days a week.
  • Add-ons like zero-dep, ROI, and NCB are included. The engines, transmissions, and other parts of the car are also well taken care of.
  • The company can get approvals for its claims in 30 minutes through online verification of QR codes, which makes it easier to settle claims.