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Top Car Insurance Companies in India

The following are the companies providing the best car insurance in India:

Car Insurance Company	Claim Settlement Ratio	Key Features	Application Link
National Insurance Co. Ltd.	93%	Government-owned and a wide product range	Click to Apply
Go Digit General Insurance Ltd.	96%	Repair Anywhere, Simplicity and digital processes	Click to Apply
Bajaj Allianz General Insurance Co. Ltd.	98.50%	A variety of products with a strong online presence	Click to Apply
Cholamandalam MS General Insurance Co. Ltd.	96%	Partnership with Mitsui Sumitomo	Click to Apply
Bharti AXA General Insurance Co. Ltd.	97%	Insurance solutions made simple	Click to Apply
HDFC ERGO General Insurance Co. Ltd.	99%	Elevated claim settlement ratio with a wide network	Click to Apply
Future Generali India Insurance Co. Ltd.	96.30%	Partnership with the Generali Group	Click to Apply
The New India Assurance Co. Ltd.	95%	One of the oldest insurers, government-owned	Click to Apply
Iffco Tokio General Insurance Co. Ltd.	95.80%	Joint venture with Tokio Marine	Click to Apply
Reliance General Insurance Co. Ltd.	98%	Wide range of insurance products	Click to Apply
Royal Sundaram General Insurance Co. Ltd.	98.60%	First private sector insurer licensed in India	Click to Apply
The Oriental Insurance Co. Ltd.	94%	Government-owned, diverse product offerings	Click to Apply
Tata AIG General Insurance Co. Ltd.	N/A	Joint venture with American International Group	Click to Apply
SBI General Insurance Co. Ltd.	100%	High claim settlement ratio, extensive network	Click to Apply
Acko General Insurance Ltd.	97.20%	Digital-first approach, low premium products	Click to Apply
Navi General Insurance Ltd.	N/A	Wholly owned subsidiary of Navi Technologies	Click to Apply
Zuno General Insurance Ltd. (formerly Edelweiss)	98%	Focus on customer-centric products	Click to Apply
ICICI Lombard General Insurance Co. Ltd.	96.75%	Comprehensive coverage options	Click to Apply
Kotak Mahindra General Insurance Co. Ltd.	98%	Diverse insurance products, strong customer service	Click to Apply
Liberty General Insurance Ltd.	97.30%	Quick claim settlements, focus on customer service	Click to Apply
Magma HDI General Insurance Co. Ltd.	92.34%	Transparent operations, various product offerings	Click to Apply
Raheja QBE General Insurance Co. Ltd.	92%	Focus on corporate and retail insurance	Click to Apply
Shriram General Insurance Co. Ltd.	96%	Strong presence in rural insurance	Click to Apply
United India Insurance Co. Ltd.	95%	Government-owned, extensive product range	Click to Apply
Universal Sompo General Insurance Co. Ltd.	96%	Joint venture with multiple partners	Click to Apply

For car insurance renewal and other insurance, InvestKraft can provide you with the best options.

Benefits of Car Insurance from InvestKraft

When you buy your car insurance, you get many benefits, like:

Maximum Coverage: Get financial protection against theft, accidents, fire, floods, and even third-party liabilities.
Personal Accident Cover: Coverage for both the owner and the driver in case of accidental injuries or death.
Lowest Premiums: Compare top insurers and choose the best plan at the most affordable rate.
Instant Policy Done: No long waits. Get your policy in minutes with a 100% digital, zero paperwork process.
Cashless Repairs at 5000+ Garages: Nationwide network to get your car back on the road, without paying upfront.
Easy Renewals with Reminders: We will send you a reminder to renew your car insurance, so you do not have to worry.
Zero Hidden Charges: We have completely transparent pricing, so no surprises later.
Customised Add-Ons: From engine protection, zero depreciation cover to recharge as per kilometres, you can get your own customised policy.

What are the Types of Car Insurance in India?

Now, let us see the types of car insurance available in India:

Third-Party Liability Only Cover

This is the bare minimum you need by law (as per the Motor Vehicles Act, 1988) and is a cheap car insurance.
Covers damages caused to another person’s vehicle, property, or physical injury.
Doesn’t cover damage to your car or physical injury to you.
Good for those who want to stay legal without spending much.

Own Damage (OD) Cover

Covers damage to your car due to accidents, fire, theft, and more
Premium depends on your car’s age and market value (also known as Insured Declared Value or IDV).
Good for those who want basic protection for their vehicle.

Personal Accident Cover

Covers medical expenses if you or your passengers are injured in an accident.
In case of permanent disability or death, compensation is given to the nominee.
We recommend this one as your life matters more than your car.

Comprehensive Car Insurance

Covers both third-party and own damage.
Also protects against theft, fire, and natural disasters.
More expensive, but worth it.
Great for those who have recently purchased a new car and want peace of mind.

Commercial Vehicle Insurance

For vehicles used for business (delivery vans, taxis, and similar vehicles).
Covers both third-party and own damage.
An absolute for business owners and fleets.

Uninsured Motorist Protection

If someone without insurance crashes into you, this cover saves you.
Pays for medical bills and repairs.
This is a smart choice because not everyone follows the rules.

Feature	Comprehensive	Third-Party Only
What it Covers	Your car + third-party	Only third-party
Legal Requirement	Not compulsory	Mandatory
Premium	Higher	Lower
Add-ons	Yes (like Zero Dep Car Insurance and others)	No
Theft/Natural Disaster	Covered	Not covered
Ideal For	New cars, better safety	Old cars, budget buyers

Frequently Asked Questions (FAQs)

A: Car insurance is an important aspect of vehicle ownership, providing financial security in case of accidents. In a country like India, it is mandatory under the Motor Vehicles Act, aiming to ensure that all vehicle owners can cover damages to third parties. This requirement helps promote road safety and holds drivers accountable for their actions on the road.

A: There are three broad types of car insurance policies available in India, which include:

Third-Party Liability Insurance - - This is a type of coverage that is required by the law and specifically protects individuals or entities from damages incurred by third parties.
Comprehensive Insurance -This provides coverage for both third-party liabilities and damages to your own vehicle, offering a high level of protection in various situations. It can be a valuable investment for mental peace on the road as it can help cover repair costs for your vehicle and liabilities towards others in case of an accident.
Own Damage (OD) Cover - This only provides cover for damages to the insured vehicle.

A: In car insurance, third-party coverage only includes protection for damages caused to others, while comprehensive coverage offers a broader scope of protection. Comprehensive insurance not only covers third-party liabilities but also includes damages to the insured vehicle.

A: Car insurance premiums in India are determined by several factors, including the age and model of the vehicle, the Insured Declared Value (IDV) and the driver’s history. Other elements that impact the premium cost are the type of coverage chosen and any add-ons selected. These factors collectively contribute to the overall calculation of car insurance premiums in the country.

A: Yes, it is possible to transfer your car insurance policy when selling your vehicle. In most cases, you can easily update the policy to include the new owner, or you may need to cancel it and acquire a brand-new one.

A: The No Claim Bonus (NCB) is a reward given to policyholders who do not file any claims in a policy term. With each claim-free year, the NCB accumulates and can result in a reduction of premiums by up to 50%. However, if a claim is made, the NCB resets to zero and can affect future premium rates.

A: A comprehensive car insurance policy provides extensive coverage for accidents, thefts, fire and natural disasters. It also includes protection against vandalism and personal accident coverage, offering financial security to the policyholder.

A: You should notify your insurer as soon as possible after an accident to start the process of claiming car insurance. If necessary, file an FIR with the police and gather all the required documents and photos of the accident scene, then submit them to your insurer. This will help ensure a smooth and efficient claim process.

A: The necessary documents for making a car insurance claim in India consist of the insurance policy copy, FIR driver’s license, vehicle Registration Certificate (RC), filled claim form and medical receipts for any injuries sustained. It is important to ensure all required paperwork is complete and accurate to facilitate the claims process.

A: You can easily find out the status of your car insurance claim by reaching out to your insurance provider through their customer service number or website. Additionally, many insurers provide online tracking tools that allow you to enter the claim number and receive instant updates on the progress of your claim.

A: Cashless car insurance eliminates the need for policyholders to make upfront payments for vehicle repairs. Instead, the insurance company directly pays the authorized garage for the repair costs. This simplifies the claims process and relieves policyholders from immediate financial burdens.

A: Policyholders do not have the freedom to select their preferred garage for repairs unless it is an off-network garage. Insurance policies usually mandate repairs to be done at authorized network garages, where the insurer has agreements to streamline cashless claims.

A: Zero depreciation car insurance is a valuable option for newer vehicles. It provides full coverage for replacing damaged parts without considering depreciation. Although it may come with higher premiums, it offers peace of mind and comprehensive protection during repairs.

A: Yes, you have the option to incorporate extras such as roadside assistance or engine protection into your car insurance policy. These additional features bolster your coverage and offer extra advantages, delivering improved protection against unexpected events.

A: Consider increasing your deductible, maintaining a clean driving record, bundling policies and taking advantage of discounts for safe driving or low mileage. It is also beneficial to regularly review and compare insurance quotes to find more competitive rates.