By | July 10, 2017

Car Insurance is something that ensures about the damage coverage of the car in case of unforeseen incidents. In India, buying car insurance is not about choice but it is compulsory to have a motor insurance as per the Indian Motor Act 1988. There are number of car insurance policies available in the market to choose from, even experts explains that you should look for policy which gives you overall damage coverage against third party as well as natural/ manmade disaster.

There are two types of Car Insurance Cover-
Liability Only Policy- This type of policy is compulsory for all motors running on Indian Roads. This policy covers all the liability/ damage caused to others incurred by your vehicle.
Package Policy- This type of policy on the other hand is complete package of motor insurance. Policy helps you to cover the liability and damages caused to others as well as to the car. This policies are also tailor made to cover you in the event of theft, accident and fire. Apparently, package policy is more desired by the people.

Public sector motor insurance companies have enjoyed decades of customer preferences, but due to the development in the policy making, private sectors have come ahead in past few years. Here are some of our hand picked Top 5 Car Insurance Companies In India which offer comprehensive car insurance policies to insurers.

Top 5 Car Insurance Companies In India

ICICI Lombard

It is India’s largest Private General Insurance Company. It has earned respect of customer satisfaction and offers wide array of deals and add on value appreciation on the policies. ICICI Lombard General Insurance Company offers free of cost servicing in the 5600+ chains of Garages for the coverage of insurance. Additionally, you can buy online car insurance from ICICI Lombard with easy EMI option.

Their distinctive features-

  • Highest claim settlement ratio
  • Easy access to 5600+ Garages all over India
  • Towing Assistance
  • Very quick claim settlement record

Oriental General Insurance Company

Oriental Insurance is a subsidiary of General Insurance Corporation of India and was incorporated in 1947. It is the oldest form of insurance company with modest effort to conduct insurance business in orderly manner. The company has believed to lay down the system that runs smoothly attracting more than million customers around the country joining their chain. It has been recipient of  prestigious awards and has earned rating of iAAA from ICRA.

Their distinctive features-

  • They offer Emergency Breakdown facility to the private cars insured
  • There is alternative car benefit available in their plans which enables to reimburse an amount to the insured in case of complete disability of the car
  • There are variety of useful add on riders for the car insurance policies

HDFC ERGO General Insurance Co. Ltd

HDFC ERGO is another General Insurance Company that dwells from private sector. Launched in 2002, this car insurance provider has been recipient of award of best motor insurance provider in India. They have more than 50 Lacs happy customer and robust channel of distribution. The settlement is fast and offers cashless claims in nationwide garages.
Their distinctive features are-

  • Instant Online Policy
  • Emergency car towing assistance
  • Zero Depreciation Cover
  • Personal accident cover for the driver of the car

TATA AIG Car Insurance

This car insurance company was launched in 2011 and in spite of being the youngest in the sector, it has managed to attract good fraction of the market of Motor Insurance business. The company offers hassle free settlement and comprehensive policy covering that gives you complete protection.

Their distinctive features-

  • Enhanced protection through unique 12 types of Add- on
  • No deduction of Depreciation
  • Claim Bonus is available even if repair has been claimed by the insured
  • Towing and road side assistance available
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New India Assurance Company

NIA is wholly owned by the Government and back up with huge capital structure. It is the leading general insurance provider in the market with International rating of ‘A-Excellent’ Stable Outlook by AM Best. It is the only Indian insurance company being rated by International agency. The company has presence in more than 27 countries and headquarters are located in Mumbai, India. The company has robust technology incorporated facilities and best customer satisfaction agenda.

Their distinctive features-

  • Personal Accident coverage with car insurance
  • coverage to the accessories of the car
  • Easy and quick car surveyor facility available in almost all the regions of India
  • Vehicle age up to 15 years can be insured



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