Best Overall – Acko Car Insurance Policy
Acko General Insurance company offers eight car insurance plans that can be opted by the customers for their diversified needs. Promoting a paperless insurance procedure and minimum documental formalities, this becomes the best overall pick for the best car insurance online policies.
Expert comment: One of the best and most emerging companies in general insurance. Fastest settlement. Response from the customer assistance team is excellent.
Go Digit Insurance Company
Their pick-up – repair – drop facility is what makes the insurance company an easy go-to choice, and their super simple claim feature, which enables claims and complaints about vehicle damages, makes it a reliable motor insurance company.
Expert Comment: I received good facilities and benefits under my plan at a low rate. Thanks to the entire team for providing excellent service.
IFFCO-TOKIO General Company
IFFCO-TOKIO has a renowned name in the insurance market and has attracted many customers with its customer-friendly insurance policies as well as won honoured awards since 2011. Carrying the history of its successful fluency in the insurance industry has cemented its name as a car insurance company.
Expert comment: IFFCO-TOKIO has been a great help every time my car has suffered a mishap. I am delighted with my car insurance purchase.
Reliance General Insurance Company
Known for its add-ons and beneficiary offers in all of its enterprises, Reliance General Insurance Company sets the bar by offering personalised add-on covers and long-term discounts, fulfilling the role of also a car insurance company in the market.
Expert comment: While buying the Reliance car insurance plan for my Honda New Amaze, I saw various add-on covers available on their website, one of which was zero depreciation. The cover compliments the insurance plan, and I had zero problems while purchasing.
ICICI Lombard Insurance Company
Backed by ICICI Bank Limited and Fairfax Financial Holdings Ltd. insurance company has verified reviews about them offering car insurance online and low-cost facilities, consequently becoming a low-cost car insurance company.
Expert comment: I have a car insurance policy plan with ICICI Lombard general insurance. A considerable number of garages are there, and they provide great services. The fibre and interior parts are also included in the claims. Policy coverage is 80% with low premiums. Good work, team.
SBI General Insurance Company
Having 16,000 garages approx., SBI general insurance company performs as one of the best car insurance companies in India while offering car insurance online with a no-claim bonus on the next policy tenure’s premium for claim-free years.
Expert comment: Many companies choose, and the interface is simple to complete the transaction faster.
HDFC ERGO Insurance Company
This product of the partnership of HDFC Bank and ERGO of the Munich Re Group is one of the leading car insurance companies with consumables covers and emergency assistance. With a presence in more than 106 cities, this company offers attractive add-ons among the motor insurance companies in India.
Expert comment: HDFC ERGO has carved a nice niche for itself in the insurance market. It has successfully emerged as one of the best non-life insurance companies among other insurance providers in the private sector.
Universal SOMPO Insurance Company
Headquartered in Mumbai, this joint venture of Indian Bank, Karnataka Bank, Indian Overseas Bank, Dabur Investment Corporation and leading Japanese insurance company – Sompo Japan Nipponkoa Insurance Inc., has successfully emerged as a motor insurance company in India. Having 3500+ garages and incentives like engine protection cover and ‘hospital daily cash’, their car insurance company has become one of the best car insurance companies in India
Expert comment: In Universal Sompo car Insurance, the company offered me high coverage at a low premium rate. I have had a great experience with them, and the service was good.
Magma HDI Insurance Company
Recognised with a CRISIL A1+ Rating, the company offers a Private car insurance package, commercial comprehensive insurance package, motor act only policy and rider options. The car insurance company provides a Voluntary Excess plan for additional discounts, displaying itself as a low-cost car insurance company.
Expert comment: I purchased a magma HDI two-wheeler insurance plan. The policy coverage is high ~90%, and the policy claims are even better. Service facilitated by the executives and staff members is easy and on time. The tow facility is provided free of any charges. Good policy, I like it.
Royal Sundaram General Finance Company
Out of all the car insurance that this article deals with, this car insurance company commendable offers flexible and customised insurance solutions and fulfilling the necessities of customers. From windshield cover to loss of baggage cover, this company turns out to be a sure pick for the shortlist of the best car insurance companies in India.
Expert comment: I have been using Royal Sundaram Car Insurance for three years and got a no-claim bonus during the renewal time. When I was renewing my plan, I got a discount in the form of a no-claim compensation.
10 Best Car Insurance Companies In India
In a market of numerable options of car insurance companies choosing an appropriate choice for your needs can be tiresome. Below provided is a summary of the car insurance from motor insurance companies in India:-
| Serial No. | Car Insurance Companies | Claim Settlement Ratio (CSR) |
| 1. | Acko Car Insurance Policy | 95.50% |
| 2. | Go Digit Car Insurance | 95% |
| 3 | IFFCO TOKIO Car Insurance | 96.80% |
| 4. | Reliance General Car Insurance | 98% |
| 5. | ICICI Lombard Car Insurance | 87.38% |
| 6. | SBI General Car Insurance | 89.51% |
| 7. | HDFC ERGO Car Insurance | 91.23% |
| 8. | Universal SOMPO Car Insurance | 96% |
| 9. | Magma HDI Car Insurance | 79.60% |
| 10. | Royal Sundaram General Finance Car Insurance | 98.6% |
1. Acko Car Insurance Policy
The various features of the policy are:-
- Company name: Acko General Insurance
- Renewal Cost (1000 – 1500cc): ₹.3,416
- Third-party coverage: Yes
| Pros | Cons |
| 93% users save at least ₹1,200 on car insurance | Lesser cashless garages |
| 3-day doorstep delivery; 1-hour pickup | No depreciation of tyres cover |
| Outstation emergency cover | |
| ₹2,094 Min. Plan starting range |
2. Go Digit Car Insurance
The features of the policy are:-
- Company name: Go Digit General Insurance Limited
- Renewal Cost (1000 – 1500cc): ₹3,416
- Third-party coverage: Yes
| Pros | Cons |
| Burglary damages covered | Third-party plans have fewer add-ons |
| Engine and gear-box covered | |
| Repair anywhere | |
| ₹1,994 Min. Plan starting range |
3. IFFCO TOKIO Car Insurance
The renowned policy’s attributes are:-
- Company name: IFFCO Tokio General Insurance Co. Ltd.
- Renewal Cost (1000 – 1500cc): ₹3,221
- Third-party coverage: Yes
| Pros | Cons |
| Zero depreciation cover | Lower Google rating |
| Electrical/Non-Electrical damages covered | |
| 24×7 road assistance | |
| CNG/LPG fuel kit covered |
4. Reliance General Car Insurance
The attributes of this policy are:-
- Company name: Reliance General Insurance Company
- Renewal Cost (1000 – 1500cc): ₹3,221
- Third-party coverage: Yes
| Pros | Cons |
| NCB retention cover | Mechanical and electrical incurred damages not covered |
| Daily allowance benefit | |
| AAI benefit | |
| ₹2,094 Min. Plan starting range |
5. ICICI Lombard Car Insurance
Various attributes of the policy are:-
- Company name: ICICI Lombard Insurance Company
- Renewal Cost (1000 – 1500cc): ₹3,221
- Third-party coverage: Yes
| Pros | Cons |
| Accidental coverage for co-passengers, if any | Comparatively lower number of garages |
| NCB benefit | |
| Doorstep inspection facility | |
| iAAA Rating by ICRA |
6. SBI General Car Insurance
The features of this policy are:-
- Company name: SBI General Insurance
- Renewal Cost (1000 – 1500cc): ₹3,221
- Third-party coverage: Yes
| Pros | Cons |
| Personal Accident Cover of up to Rs. 15 lakh | Comparatively lower number of garages |
| Invoice cover | |
| Cover of Rs. 2 lakh for a hired rider and co-passengers in case of an accident. | |
| iAAA Rating by ICRA |
7. HDFC ERGO Car Insurance
The policy attributes:-
- Company name: HDFC ERGO Insurance Company
- Renewal Cost (1000 – 1500cc): ₹3,416
- Third-party coverage: Yes
| Pros | Cons |
| 6,800+ garages | Car depreciation damages not covered |
| Paperless insurance procedure facility | |
| Down-time rider add-on | |
| Policy renewal without inspection |
8. Universal SOMPO Car Insurance
The features of the policy are:-
- Company name: Universal SOMPO Insurance Company
- Renewal Cost (1000 – 1500cc): ₹3,221
- Third-party coverage: Yes
| Pros | Cons |
| Daily cash allowance benefit | Has a compulsory deductible amount |
| Depreciation waiver cover | |
| Accidental hospital clause and loss of personal belongings in case of accident | |
| ₹1,994 Min. Plan starting range |
9. Magma HDI Car Insurance
The policy consists of the following features:-
- Company name: Magma HDI Insurance Company
- Renewal Cost (1000 – 1500cc): ₹3,429
- Third-party coverage: Yes
| Pros | Cons |
| LPG/CNG coverage provided | Comparatively lower claim settlement ratio (CSR) |
| Tyre damage covered if beyond repair | |
| Personal accident cover | |
| 4,000+ garages |
10. Royal Sundaram General Finance Car Insurance
This policy carries the following attributes:-
- Company name: Royal Sundaram General Finance Company
- Renewal Cost (1000 – 1500cc): ₹3,221
- Third-party coverage: Yes
| Pros | Cons |
| In-transit cover | Damage incurred by breakdown not covered |
| Theft coverage | |
| Vehicle replacement value cover | |
| Voluntary premium-deductible cover |
How we shortlisted the best car insurance companies for you?
It is a Herculean task for any car insurance company to cover all the facilities and outperform their expectations due to uncertainty around the road and its complementaries. Therefore, the shortlisted policies are chosen by analysing the balance of CSR and the good perks the company offers its customers. This list might ease the overwhelming process of comparing policies and save you some steps for choosing the best car insurance company in India as per your liking.
Frequently Asked Questions
Q1. How to switch from one car insurance company to another?
The analysis of your precise requirements and the CSR will pave the way to the switching of car insurance companies.
Q2. How do insurance companies estimate car damage?
Estimations from verified vehicle body shops can facilitate the estimation of car damage for insurance companies.
Q3. Will insurance companies pay for all the damage by accident?
Yes, in the majority of cases. Therefore it is advised to do a thorough read of the policies to avoid experiencing any mishaps during the process.
Conclusion
Every Indian citizen wants to go for the best car insurance company in India. There is no denying that, but it is noticeable that many companies exist and perform well in their professional field. Implying that though the companies offer incentives, one should always be specific and clear in its choice as one was while buying the vehicle.
source : google.com
