Top Car Insurance Plans
Comprehensive
Third Party
Own Damage
- CASHLESS GARAGES 6,800
- CLAIMS SETTLED 89%
- ZERO DEP. CLAIMS UNLIMITED
Starting From ₹ 2881
Key Features:
- Maximum Cashless Garages
- Over Night Vehicle Repairs
- 24x7 Roadside Assistance
- Quick Claim Settlement
- CASHLESS GARAGES 3,100
- CLAIMS SETTLED 95%
- COMPREHENSIVE CLAIMS UNLIMITED
Starting From ₹ 2396
Key Features:
- Towing Assistance (For Accidents)
- Coverage Outside India
- PSU Provider
- Quick Claim Settlement
List of Top Car Insurance Companies in India 2024 [IRDAI Certified]
Car insurance helps you get mitigate financial obligations that may arise due to an unfortunate event involving your car such as a road accident, fire, theft, natural calamities, etc. As per the Indian Motor Tariff, every car owner is legally required to have at least a third party car insurance cover for being able to drive their car/vehicle on Indian roads. Currently, there are 25 insurance companies in India that offer car insurance.
20+ Top Car Insurance Companies in India with OD Claim Settlement Ratio & Network Garages: IRDAI Approved
Find below the best car insurance companies in India with claim settlement ratio (CSR) & network garages.
Car Insurance Company | Motor OD Claim Settlement Ratio FY23 | Network Garages | |
HDFC ERGO Car Insurances | 89.48% | 6,800+ | |
ICICI Lombard Car Insurance | 94.84% | 5,600+ | |
United India Car Insurance | 95.00% | 3,100+ | |
New India Car Insurance | 92.23% | 3,000+ | |
Royal Sundaram Car Insurance | 98.60% | 3,300+ | |
Reliance Car Insurance | 98.00% | 8,200+ | |
SBI Car Insurance | 100.00% | 16,000+ | |
Future Generali Car Insurance | 96.30% | 3,500+ | |
Liberty Car Insurance | 98.00% | 4,500+ | |
IFFCO Tokio Car Insurance | 95.80% | 4,300+ | |
Digit Car Insurance | 96.00% | Repair anywhere | |
Bajaj Allianz Car Insurance | 98.50% | 4,000+ | |
Kotak Mahindra Car Insurance | 98.00% | 2,327+ | |
Zuno Car Insurance | 98.00% | 1,500+ | |
Bharti AXA Car Insurance | 94.84% | 5,200+ | |
Chola MS Car Insurance | 96.00% | 4,636+ | |
Oriental Car Insurance | 94.00% | 3,100+ | |
Universal Sompo Car Insurance | 96.00% | 3,500+ | |
Magma HDI Car Insurance | 97.10% | 4,000+ | |
Raheja QBE Car Insurance | 92.00% | 1,000+ | |
Tata AIG Car Insurance | 91.80% | 7,500+ | |
National Car Insurance | 93.00% | 3,100+ | |
Shriram Car Insurance | 96.00% | 2,000+ | |
Acko Car Insurance | 72.68% | 2,000+ |
(Source: IBAI’s General Insurance Claim Insights Handbook - 5th Edition.)
Read More
How to Choose the Best Car Insurance Company in India?
The definition of the best vehicle insurance company in India is subjective as it varies from individual to individual, depending on their requirements. Preferences vary among individuals when choosing the best car insurance company. While some prioritise the highest claim settlement ratio, others find value in insurers with an extensive network of cashless garages.
1. Network of Cashless Garages
There are a number of garages with which a car insurance company partners for the facilitation of cashless insurance claims. While choosing a car insurance company, one must check the strength of the network of cashless garages of the insurance company. One must also see if there are enough cashless garages in the vicinity of his/her locality.
2. Claim Settlement Ratio
Claim Settlement Ratio tells the number of claims settled by a car insurance company out of all the claims received by it during a financial year. Opting for an insurance company with a high claim settlement ratio is a wise choice for securing the best claim settlement ratio car insurance.
3. Availability of Add-ons
Add-ons refer to extra coverages that can be opted with a standard car insurance policy to extend the coverage. Add-ons are available with own-damage and comprehensive car insurance and can be opted for at the time of policy purchase as well as at the time of car insurance renewal. A best car insurance companies should have wide options of availability of add-ons.
4. Customer Support Service
One must also check the availability and quality of the customer support service offered by an insurance company. While some insurance companies offers 24*7 customer support, some offer 5-day customer assistance services.
Types of Car Insurance Policies Offered By Different Insurance Companies
On the basis of car/vehicle/4 wheeler insurance coverage, there are three types of car insurance plans:
1. Third Party Car Insurance
According to Indian Motor Tariff, every car owner in the country is mandated to have at least a third-party car insurance policy. This plan provides you coverage for all third party liabilities such as third party bodily injuries, disability, death as well as property damage which may occur due to any unfortunate event involving your car. The third party property damage is limited to Rs. 7.5 lakh under this plan.
2.Standalone Own-Damage Car Insurance
This plan provides coverage only for own-damages incurred by your car in any mishap such as road accident, natural calamity, fire, explosion, theft, riot, etc. To remain compliant with the legal requirements, you must purchase a third party car insurance plan with it. A standalone own-damage car insurance plan gives you the flexibility to choose your own-damage cover and third party cover from different insurance companies.
3. Comprehensive Car Insurance
This is a bundled cover that offers you coverage for both third-party liabilities as well as own damages incurred by your car in an unfortunate event. Among all the three types of car insurance plans, a comprehensive cover offers you the maximum coverage. You can further extend the coverage of this plan by opting for add-ons like zero depreciation cover, engine cover, etc.
What is Covered under Car Insurance?
Explore the comprehensive protection provided by car insurance, which covers a range of scenarios to ensure your peace of mind on the road:
- Accidents: Unforeseen accidents resulting in damage to your car are covered by car insurance, providing you with financial relief.
- Theft: If your vehicle is stolen, your car insurance offers coverage up to the insured declared value mentioned in the policy.
- Natural and Man-made Calamities: Your car is shielded from natural disasters like fire and earthquake and man-made events such as vandalism, terrorism, and more.
- Personal Accident: In case of owner-driver accidents, coverage of up to Rs. 15 lakh is provided for disability or death resulting from the accident.
- Third-Party Liability: Car insurance safeguards you against third-party claims for injuries, disabilities, or deaths caused by your vehicle.
What is Not Covered under Car Insurance?
While car insurance offers a wide range of protection, it's essential to know what is not covered. Some exclusions include:
- Electrical Breakdown and Mechanical Breakdown: Coverage typically doesn't extend to electrical or mechanical failures.
- Normal Wear and Tear: Regular wear and tear of your car's components is not covered.
- Driving without a Valid License: Accidents are excluded while driving without a valid license.
- Consequential Loss of Car: Losses indirectly caused by an event, like a breakdown, may not be covered.
- Driving Under the Influence: Accidents occurring while driving under the influence of drugs or alcohol are excluded.
- Illegal Use of Car: Any damage caused while using the car for illegal activities is not covered.
- Commercial Use of Private Car: Using your private car for commercial purposes may not be covered.
- Depreciation of Car Parts: Depreciation of car parts over time is typically not covered.
- Contributory Negligence: Damages resulting from your negligence while driving may be excluded.
How to Buy the Best Car Insurance Policy from InsuranceDekho?
Step 1: Visit InsuranceDekho and click on the ‘car’ tab.
Step 2: Enter your car’s Registration Number. In case you do not remember it, choose ‘Don't know your car number?’ option. After selecting that, a pop up will open asking you your car’s brand name, model, fuel type, variant, registration year, registration city and RTO.
Step 3: Fill in your personal details like your Name and Mobile Number and click on the ‘Submit and Get Quotes’ button. Confirm the expiry date of your previous car insurance policy and the name of your previous car insurer.
Step 4: All available premium quotes will be displayed to you. You can compare and select the quote which best meets your requirements. You can also opt for add-on covers at this stage to extend the coverage of your basic car insurance plan.
Step 5: Enter your personal details, nominee details and car/vehicle details. Proceed with the payment using your credit/debit card or other net banking facilities.
The policy will be sent instantly to you at your registered email address.
How to make a Car Insurance Claim?
When it comes to claiming your car insurance, following these steps ensures a smooth process:
- Prompt Contact: Reach out to your insurance company within 48 hours of the accident or theft to initiate the claim.
- Third-Party Damage or Theft: If third-party damage or theft is involved, file a First Information Report (FIR) with the police.
- Document Submission: Provide the necessary documents, including a copy of the FIR, claim form, and policy details.
- Assessment by Surveyor: The insurance company will appoint a surveyor to assess the extent of damages and validate the claim.
- Repair Process: If required, your car will be sent to a garage for repairs. Cashless service may be offered if the garage is within the network.
- Cashless Service: Cashless service will be provided if your car is being repaired at a network garage.
- Theft Scenario: In case of theft, the insured declared value will be given to you after the police provide a non-traceable report.
Comparison of Different Types of Car Insurance in India
The coverages offered in different car insurance plans are as follows:
Car Insurance Coverage | Third Party | Comprehensive | Standalone |
Damage/losses caused to your car due to accident | X | ✔ | ✔ |
Theft of two-wheeler | X | ✔ | ✔ |
Damage incurred due to fire | X | ✔ | ✔ |
Damage/losses due to natural calamity | X | ✔ | ✔ |
Damage to property and third party vehicle | ✔ | ✔ | X |
Personal Accident Cover (if opted) | ✔ | ✔ | ✔ |
Injury/ Death of Third Party due to an accident | ✔ | ✔ | X |
Conclusion
As you embark on your car insurance journey, remember that the "best" company is the one that aligns with your specific needs and priorities. Thorough research, informed decision-making, and proactive engagement with your insurer pave the way for a secure and satisfying car insurance experience. By securing appropriate coverage, you're protecting your vehicle and investing in your peace of mind on the roads of India.
Calculate Your Car Insurance Premium Online
Select your car brand
- Maruti
- Hyundai
- Honda
- Toyota
- Mahindra
Which city is your car registered in?
- Ahmedabad
- Bangalore
- Chandigarh
- Chennai
- Gurgaon
When did you buy your car?
Car Insurance for Popular Car Models
Mahindra Thar
*Premium Starting from ₹18,931
Check Premium
Mahindra Scorpio
*Premium Starting from ₹22,384
Check Premium
Hyundai Creta
*Premium Starting from ₹27,981
Check Premium
Maruti Swift
*Premium Starting from ₹8,416
Check Premium
Maruti Baleno
*Premium Starting from ₹12,824
Check Premium
Maruti Wagon R
*Premium Starting from ₹7,685
Check Premium
Hyundai i20
*Premium Starting from ₹10,283
Check Premium
- See AlsoBest Cheap Car Insurance For Seniors (September 2024)Largest Car Insurance Companies | Bankrate
Tata Tiago
*Premium Starting from ₹10,425
Check Premium
Maruti Alto K10
*Premium Starting from ₹6,273
Check Premium
Hyundai Verna
*Premium Starting from ₹17,242
Check Premium
Honda City
*Premium Starting from ₹11,243
Check Premium
Maruti Ertiga
*Premium Starting from ₹12,339
Check Premium
Toyota Innova Crysta
*Premium Starting from ₹37,097
Check Premium
Land Rover Range Rover
*Premium Starting from ₹132,790
Check Premium
Mercedes-Benz GLA
*Premium Starting from ₹109,953
Check Premium
Land Rover Range Rover Velar
*Premium Starting from ₹128,979
Check Premium
*The above-mentioned premiums are suggestive and may change basis terms & conditions
Find Right Car Insurance Quotes by Cars Body Type
- SUV
- Hatchback
- Sedan
- MUV
Tata Curvv Insurance Price
View Tata Curvv Insurance Price
Mahindra Thar Insurance Price
View Mahindra Thar Insurance Price
Mahindra Scorpio Insurance Price
View Mahindra Scorpio Insurance Price
Hyundai Creta Insurance Price
View Hyundai Creta Insurance Price
Tata Punch Insurance Price
View Tata Punch Insurance Price
Maruti Brezza Insurance Price
View Maruti Brezza Insurance Price
Maruti Swift Insurance Price
View Maruti Swift Insurance Price
Maruti Baleno Insurance Price
View Maruti Baleno Insurance Price
Maruti Wagon R Insurance Price
View Maruti Wagon R Insurance Price
Hyundai i20 Insurance Price
View Hyundai i20 Insurance Price
Tata Tiago Insurance Price
View Tata Tiago Insurance Price
Maruti Alto K10 Insurance Price
View Maruti Alto K10 Insurance Price
Skoda Slavia Insurance Price
View Skoda Slavia Insurance Price
Maruti Dzire Insurance Price
View Maruti Dzire Insurance Price
Hyundai Verna Insurance Price
View Hyundai Verna Insurance Price
Hyundai Aura Insurance Price
View Hyundai Aura Insurance Price
Volkswagen Virtus Insurance Price
View Volkswagen Virtus Insurance Price
Honda City Insurance Price
View Honda City Insurance Price
Maruti Ertiga Insurance Price
View Maruti Ertiga Insurance Price
Toyota Innova Crysta Insurance Price
View Toyota Innova Crysta Insurance Price
Renault Triber Insurance Price
View Renault Triber Insurance Price
Maruti XL6 Insurance Price
View Maruti XL6 Insurance Price
Toyota Rumion Insurance Price
View Toyota Rumion Insurance Price
Maruti Invicto Insurance Price
View Maruti Invicto Insurance Price
Explore Car Insurance
Car Insurance
Car Insurance Quotes
Car Insurance Calculator
Car Insurance Renewal
Comprehensive Car Insurance
Third Party Car Insurance
Zero Depreciation Car Insurance
Car Insurance Add on Cover
Car Insurance Claim Settlement
IDV in Car Insurance
Own Damage Car Insurance
Cashless Garages
Learn about Best Car Insurance Companies in India 2024
Best Car Insurance Claim Settlement Ratio Companies in India
Looking to purchase car insurance but not sure which insurance company to pick? The claim settlement ratio may give you a lead. Read this article.
By InsuranceDekho04 Mar 2024
Complete List of All Car Insurance Companies in India
Looking to purchase car insurance in India? Make sure to get familiar with the insurance companies provided in this list before you do.
By InsuranceDekho16 Jan 2024
Top Car Insurance Companies in Terms of Claim Settlement in India (2021)
Here are top car insurance companies in Terms of Claim Settlement in India (2021).
By InsuranceDekho10 Oct 2023
Top Car Insurance Companies Providing Personal Accident Cover
On the basis of Health Insurance Claim settlement ratio, here are the top car insurance companies which are best for availing a personal accident.
By InsuranceDekho10 Oct 2023
Reasons Why Insurance Companies Can Reject Your Car Insurance Claims
At least a car insurance policy is mandatory and it helps to cover expenses due to unforeseen incidents such as accidents, theft, sabotage, etc.
By InsuranceDekho17 Dec 2020
Car Insurance Companies Reviews & Ratings
What users are saying
Fire Damage Claim
A short circuit in my car's wiring lit a small fire which damaged the dashboard till some extent. Bajaj Allianz was my insurer and handled the claim process ideally. My car was repaired at a cashless garage and I just had to pay the pre-agreed deductibles and rest was covered with my car insurance. The quality of repair was excellent, and I didn't face any out-of-pocket expenses. InsuranceDekho's suggestion to go with Bajaj Allianz for comprehensive coverage proved beneficial to me.
Read More
C
Bajaj Allianz car Insurance
By
Charlie Daniels
On:
12th July, 2024
Theft Recovery
My car was stolen from the office parking in the middle of the day. I instantly called the police and made my next call to Digit, whose car insurance I had purchased. They very calmly handled the conversation and guided me throughout the police complaint process. Unfortunately, police could not find my car and issued a non traceable certificate after which I got my claim from Digit. I'm thankful to InsuranceDekho for recommending Digit for its efficient working and sympathetic customer support.
Read More
G
Digit car Insurance
By
Gulfisha Ahmed
On:
12th July, 2024
Flood Damage Repair
My car was damaged due to the floods last month in my state. Fortunately, I had Acko car insurance and it helped me financially to get my car repaired. My claim was approved after a smooth process and my car was repaired at a cashless garage. I have no complaints with the services provided by Acko. Although the condition of my car before repairing was really bad, Acko claim settlement process returned my car in 4 days and it looks brand new now. Thanks to InsuranceDekho for suggesting Acko for their reliable services.
Read More
N
Acko car Insurance
By
Nilutpal Das
On:
12th July, 2024
Accident Claim Settlement
I was involved in a minor accident where the front bumper of my car was damaged. HDFC ERGO's claim process was smooth and efficient. My claim was approved within 24 hours and car was repaired at one of their network garages. I'm grateful to InsuranceDekho for recommending HDFC ERGO for their hassle-free claim settlement.
Read More
A
Hdfc Ergo car Insurance
By
Arundhati Raj Gupta
On:
2nd July, 2024
Smooth Third-Party Accident Cl...
Last week my car hit a pedestrian by accident, and it injured him severely. After taking him to the hospital emergency, I was quick with my action to inform ICICI Lombard, who was my insurer. They handled the whole case from start to end and settled the third-party claim efficiently. I’m thankful for their support during this stressful time and I'm glad that I sought advice from InsuranceDekho while selecting ICICI Lombard as my insurer.
Read More
P
Icici Lombard car Insurance
By
Padmashree Saini
On:
2nd July, 2024
Car Insurance Companies FAQs
-
Which is the best car insurance company in India?
There are various factors that should be considered while choosing the best car insurance company. Some of the factors are Claim Settlement Ratio, Number of Network Garages, IDV (Insured Declared Value) offered Availability of Add-ons, etc. On the basis of claim settlement ratio for the FY 2023-24, the top car insurance companies in India are IFFCO Tokio General Insurance Company (96.44%), Royal Sundaram General Insurance (94.07%), Oriental Insurance Company (93.16%), Universal Sompo General Insurance (92.45%) and New India Assurance (92.23%).
-
How to switch from one car insurance company to another?
You can switch from one car insurance company to another at the time of renewal of your policy.
-
Which are the top 10 car insurance companies in India?
The top 10 car insurance companies in India for the year 2023-24 on the basis of claim settlement ratio are IFFCO Tokio General Insurance Company (96.44%), Royal Sundaram General Insurance (94.07%), Oriental Insurance Company (93.16%), Universal Sompo General Insurance (92.45%), New India Assurance (92.23%), Tata AIG General Insurance (91.80%), SBI General Insurance (91.74%), Bajaj Allianz General Insurance (91.23%), HDFC Ergo General Insurance (89.48%), Future Generali India (88.56%).
-
Will car insurance companies pay for all the damages in a car accident?
The coverage provided under a car insurance plan will depend on the type of plan purchased. A third party car insurance plan will provide coverage for third party liabilities, a standalone own-damage car insurance plan will provide coverage for own-damages of the car, and a comprehensive car insurance policy will provide coverage for both third party liabilities as well as own-damages of the car.
-
How does a car insurance company provide coverage without checking the condition of the car in India?
For a third party car insurance, no car inspection is required by the insurance company as only third party liabilities are covered under this plan. However, whenever you move to an advanced car insurance policy for instance from the third party to a comprehensive cover, your insurance company will do an inspection of your car. Also, when you opt for a zero depreciation cover or renew your car insurance policy during the break-in period (within 90 days from the policy expiry date), an insection of your car by the insurance company is required.
-
How do insurance companies estimate car damage?
Insurance companies analyze the present value of the total damaged parts of the car. After this depreciated value is deducted from the total estimated loss.
-
How do I know if a car insurance company is reliable?
Research the company's reputation, read customer reviews, and check its claim settlement history to gauge its reliability and satisfaction levels.
-
How important is a network of cashless garages?
A wide network of cashless garages ensures convenient and hassle-free repairs in case of an accident. Check if the network covers garages near your location.
-
Can I customise my car insurance policy based on my needs?
Yes, many insurance companies offer customisable policies with add-on options. You can tailor your policy to suit your requirements.
-
What factors should I consider when choosing the best car insurance company in India?
Finding the best car insurance company in India depends on factors like claim settlement ratio, a network of cashless garages, coverage options, and customer support. Evaluate these aspects to make an informed decision.
-
Is the car insurance company with the best claim settlement ratio?
While a high claim settlement ratio is essential, it's not the sole criterion. A company's overall service quality, coverage options, and customer reviews should also influence your decision.
-
Which are the top 5 car insurance companies in India?
Based on the claim settlement ratio below are the top 5 car insurance companies in india.IFFCO Tokio General Insurance Company (96.44%), Royal Sundaram General Insurance (94.07%), Oriental Insurance Company (93.16%), Universal Sompo General Insurance (92.45%) and New India Assurance (92.23%).
View More Questions
Car Insurance News
Automatic Car Insurance: Why is it Important?
Automatic cars work on advanced technology; therefore, the c...
By InsuranceDekho12 September 2024
Car Insurance for High-risk Drivers
Know what being a high-risk driver means and its disadvantag...
By InsuranceDekho22 August 2024
Car Glass Insurance
Importance of car glass insuras.nce explained, coverage of g...
By InsuranceDekho22 August 2024
5 Key Reasons Why Your Car Insurance Premium Incre...
Know the reasons behind why your car insurance premium incre...
By InsuranceDekho08 August 2024
Future of Car Insurance in India
With changing customer needs and technological advancements...
By InsuranceDekho08 August 2024
FIND RTO OFFICES BY STATE IN INDIA
Select a state to get RTO Office details
Andhra PradeshArunachal PradeshAssamBiharChhattisgarhGoaGujaratHaryanaHimachal PradeshJharkhandKarnatakaKerala
FIND RTO OFFICES BY CITY IN INDIA
Search a city to get RTO Office details
#Applicable on non-inspection cases i.e. existing policy has not expired or when buying a policy for a new vehicle.