Selecting a car insurance policy depends on the insurance preference of a person. There are numerous car insurance policies that cater to the individual needs of insurance buyers. But, in India, buying a car insurance policy is not a personal choice or preference. It is a compulsion that every motor owner in India must have. As per the Motor Vehicles Act of India, anyone who is using the public places or roads to run his vehicle has to necessarily have a third-party liability insurance policy. However, the liability-only policy provides limited coverage and benefits. Thus, experts from the industry suggest that a motor vehicle owner should opt for a comprehensive insurance cover to get an over-all protection and avail maximum benefits.
Read on to know more about the best car insurance companies in India and become a smart and wise car insurance policyholder.
The HDFC ERGO General Insurance Company Ltd. is one of the best car insurance companies in India. The company stands strong in the market and is a joint- between HDFC Ltd (Indian Company) and ERGO International AG. The amalgamation of these two renowned companies brought HDFC ERGO General Insurance Company Ltd into existence. It is supported by a powerful distribution channel and a customer-oriented attitude that provides amazing services and assistance to all its policyholders.
Bajaj Allianz General Insurance Co. Ltd is a private car insurance provider in India. This can be one of the top choices for buying car insurance, as it is one of the biggest general insurance companies in India. At present, the Bajaj Allianz General Insurance Co. Ltd provides services to a huge lot in the car insurance sector. Many experts from the car insurance sector suggest that the Bajaj Allianz Auto Insurance is one of the top leaders among all the motor insurance providers in regards to customer service and satisfaction.
The Tata AIG General Insurance Co. Ltd came into existence in the year 2000. It is a joint venture between Tata Group (India) and American International Group (AIG). The insurance company provides an array of insurance services to serve the masses. The insurance policies offered by the Tata AIG General Insurance Co. Ltd are health insurance, travel insurance, and motor insurance. All the policies offered are specifically designed by professionals to fulfil the diverse needs and requirements of the insurance buyers. The car insurance policy provided by the company is acclaimed for providing outstanding financial protection.
The Oriental Insurance Company Ltd. came into existence in the year 1947. It is a government-owned and managed the company. The company is regarded as one of the best companies for buying car insurance policy in India. The car insurance policy offered by the Oriental Insurance Company Ltd. provides coverage to the policyholder in case of accidental damages, third-party liabilities.
It also offers some useful additional cover to provide an enhanced coverage. The car insurance period is formulated on a yearly basis. It provides additional coverage (add-ons) for car insurance such as nil depreciation cover, loss of personal effects, alternative care benefits, and free emergency benefit services.
ICICI Lombard General insurance is a tie-up between ICICI Bank Limited and Fairfax Financial Holdings Limited. This joint-venture between the two powerful companies has become one of the leading insurance policy providers in the Indian insurance market. The Car insurance policy offered by ICICI Lombard General insurance provides insurance coverage for loss or damage to the insured’s car in case of natural calamities, man-made calamities, personal accident cover, and third-party legal liability.
The company has more than 3,500 network garages across India to help car insurance policyholders avail cashless repair for their vehicles in case of accidental damages. It offers a wide of services to the policyholders to satisfy their needs.
Over to you
These are the best 5 best car insurance providers in India. In case you want to buy car insurance for your vehicle, you can compare the plans offered by these companies. In case you already have vehicle insurance coverage, you can still compare the coverage provided by these plans and your current plan. In case one of the plans offered by these insurance providers provide better coverage at the same premium, you can port your insurance plan.