One of the most important decisions you will ever make is to choose the right insurance plan for your car. While HDFC ERGO and Bajaj Allianz Car Insurance are the two leading insurance companies in India. They have almost similar products, but their pricing and coverage are different.
HDFC ERGO is a premium-based plan that offers a wide range of features to its customers. Bajaj Allianz Car Insurance is a cost-effective plan that offers basic coverage with no frills. The question then becomes - which one should you choose? In this article HDFC ERGO vs Bajaj Allianz Car Insurance comparison, we will help you to make an informed decision.
HDFC ERGO vs Bajaj Allianz car insurance: HDFC ERGO has been around for a long time and is considered one of the best car insurance companies in the country. On the other hand, Bajaj Allianz is an insurance company that works with multiple brands. They are considered one of the most reliable insurers in the country. Whether it is HDFC ERGO or Bajaj Allianz car insurance the best car insurance company always provides:-
- Better price
- Good coverage offered
- Customization of add-ons
- Best customer services
- Claim settlement ratio
- No. of cashless garages
- Analyzing car insurance needs
- Financial ability of the company
- Third party liability coverage
- Personal accident cover.
For some individuals, a car insurance company that has the highest claim settlement ratio is the best, while for others the insurance company which has a wide network of cashless garages is the best. Thus, there are several parameters that make an insurance company the best for an individual. One should consider the following factors while choosing a car insurance company.
|
Key Points |
HDFC ERGO Car Insurance |
Bajaj Allianz Car Insurance |
| Claim Settlement Ratio |
70.02% |
68.06% |
| Cashless Garages |
6800+ |
6000+ |
| Solvency Ratio |
1.90 |
3.45 |
| Branches |
200+ |
1100+ |
| Claims Settled |
1 Crore |
1.92 lakh |
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HDFC ERGO Car Insurance:
One of the top-notch car insurance companies operating successfully in the Indian insurance market is HDFC Ergo, which proudly boasts of having one of the highest claim settlement ratios. It is a preferred brand throughout the country for car insurance because of its focus on customer satisfaction. In 2013, the company was recognized as the best general insurance company in India.
HDFC ERGO is a joint venture of HDFC Limited and ERGO International AG. HDFC ERGO Car Insurance Company is one of the top 5 car insurance companies in India which offers Car insurance solutions to customers.
HDFC ERGO is founded in 2002. The company is rated by ICRA Limited rated this insurance provider as ‘iAAA’ and the establishment also boasts ISO certification for offering flawless claim service to policyholders. Let’s go through the unique features of the HDFC ERGO motor insurance policy.
- This plan offers doorstep repair service for customers.
- Roadside assistance is also covered in this plan.
Why choose HDFC Ergo Car Insurance?
- Certain age groups and professionals can avail of a host of discounts on their car insurance.
- Members of the Automobile Association are also provided with certain discounts.
- Paperless process - No documentation.
- Simple insurance purchase procedures.
- Can purchase a policy online instantly.
- Spontaneous claim settlement.
- Trust ensured - Dedicated customer support team.
- Insured Declared Value.
Bajaj Allianz Car Insurance:
A motor insurance policy is mandatory to secure your car from any mishaps, a sudden accident might cause you a huge financial loss Bajaj Allianz's car insurance policy will compensate your financial loss by paying damage expenses on your behalf. Trust is the important factor that gets positive whooping customer recommendations. Bajaj Allianz's motor insurance policy will protect against physical damage, accidental injury, death, co-passenger injury, death, and property loss of the third party.
Bajaj car insurance policy helps you to avail hassle-free claim settlement. Bajaj Allianz makes trust in its customers for the past 16 years by providing the highest claim settlement. Like house your vehicle is also the most important procession, utmost security with extensive add-ons will protect your car from a mishap. Know the right insurance premium online.
Bajaj Allianz obtained a registration certificate from IRDA in the May of 2001 to carry out insurance business in India. The Company won the ‘Insurer Claims Team of the year’ by Claims Awards Asia 2014. ABP News BFSI awards 2015 also honored Bajaj Allianz as the ‘Best Insurance Company of the Year’. You can select from three different car plans.
- The company is known for settling its claim in a record time.
- There are numerous policies offered by this company for every consumer.
Why choose Bajaj Allianz Car Insurance?
With Bajaj Allianz car insurance, you get the following benefits:
- Simple procedure for buying or renewing your car insurance.
- Almost 50%No Claim Bonuses from your previous insurer can be transferred.
- Our customer support team is available 24x7, 365 days a year for claims support and other assistance.
- During the incidence of car breakdown or accident, where the vehicle cannot be shifted, Towing Facility is provided by the company.
- Instant Claims Assistance and SMS updates on the status of your car insurance
- Get your policy online in simple easy ways without any documentation process.
- 4000+ network garages for cashless claim settlement in pan-India.
- Simple steps to transfer your No Claim Bonus for a claim-free year.
- Personal accident covers total disability or death.
- Get 24/7 assistance from the Bajaj Allianz team to assist customer queries round the clock.
Comparison of HDFC ERGO Car Insurance vs Bajaj Allianz Car Insurance:
Given that there exist several different car insurance plans available in the market today, it is important to compare the varied car insurance plans you come across. These comparisons are best made online as more information is accessible on the internet and it is often easier to draw comparisons across several different categories. Consider the following key factors associated with these comparisons.
|
Parameters |
HDFC ERGO Car Insurance |
Bajaj Allianz Car Insurance |
| Types of Policies |
- Comprehensive Car Insurance
- Third Party Car Insurance
- Standalone Own Damage Cover
- Private Car Bundle Policy.
|
- Third Party Car Insurance
- Comprehensive Car Insurance
- Standalone Own Damage Car Insurance
|
| Add-ons/Riders |
- Zero Depreciation cover
- No Claim Bonus Protection
- Emergency Assistance Cover
- Downtime protection
- Engine and gearbox protection
- Return to Invoice.
|
- Zero Depreciation
- Engine Protector
- Consumable expenses
- 24x7 Spot Assistance
- Key and Lock Replacement
- Personal Baggage
- Conveyance Benefit.
|
| Benefits |
- Third Party Damages: It covers personal accidents, third party injuries, and property damages
- Own Damage Covers: It Covers accidents, fire & explosion, theft, and calamities
- No Claim Bonus: The No Claim Bonus (NCB) covers up to 50%.
- Personal Accident Cover: It covers you up to Rs. 15 lakhs.
- Comprehensive Car Insurance: It covers you against accidents, natural/manmade disasters, In-transit damages, fire and explosion, theft, and personal accidents cover.
|
- Zero depreciation cover available
- Get your car insurance within 3 minutes
- Cashless claim facility
- Claim process done within 20 minutes
- Policyholders are eligible for 75% on account payment in case the cashless facility is unavailable.
- Dedicated telephonic service is available 24×7 on holidays as well to provide support during claims settlement and for any other issues
- In case a car gets damaged due to an accident, the towing facility is available
- Policyholders can avail themselves of high standard service and get their cars inspected at selected workshops.
|
| Features |
- Quick policy purchase online
- 24x7 claim assistance
- Cashless claim settlement at network garages
- Touchless policy issuance
- No break-in coverage
- Get Instant Quotes
- Payment reminders
- Instant Coverage
- Quick issuance with minimal paperwork
- Seamlessness and transparency
- Prompt customer service
- Control over coverage.
|
- Voluntary excess discount
- Anti-theft device installation discount
- Online policy buying/Renewal, voluntary Excess discount
- 24x7 Assistance
- Policyholders are entitled to shift as much as 50% of their existing No Claim Bonus from their previous car insurance providers
- The company is known for settling its claim in a record time.
- There are numerous policies offered by this company for every consumer.
|
PolicyBachat insurance market is huge and offers a wide range of car insurance plans at economical rates. At present, several insurance companies provide reliable car insurance plans. The insurers offer unique features and personalized facilities to cater to different sorts of customer needs.
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Conclusion:
You need to choose an adequate and appropriate insurance plan with care. It is prudent to go through all terms and conditions written on the information brochure of car policies beforehand. Before going for the best car insurance company consider the factors like value for money, coverage options, better services, and convenience guaranteed. Comparisons allow you to accurately determine the best car insurance plan available that provides several benefits for a low price.
Consider all the benefits, coverages, and discounts. Choose a car insurance policy according to your vehicle requirement. Now that you already know the difference between these two companies; start comparing the car insurance policies premiums of HDFC ERGO and Bajaj Allianz car insurance above to select the best insurance company for your car.