HDFC ERGO Car Insurance is a car insurance company that has been in the market for over two decades now. It has a strong presence in the Indian market and is one of the most trusted brands in the industry.
On the other hand, New India Assurance is a relatively new player in this field but it has been able to establish its position as one of the leading car insurance companies in India. The comparison between these two companies will help you decide which company to go with. They have a significant customer base that provides service & convenience for potential clients.
You've decided to buy car insurance thinking about what type of car insurance you need and now, the question is how can you find a policy that's right for you? Car insurance is essential nowadays.
The financial implications of this decision are long-lasting and can sometimes be irreversible. To make a good decision on car insurance, you should know what is available to you and which one will best benefit your specific needs.
| Key Points |
HDFC ERGO Car Insurance |
New India Assurance Car Insurance |
| Claim Settlement Ratio |
70.02% |
85.35% |
| Cashless Garages |
6800+ |
3000+ |
| Solvency Ratio |
1.90 |
2.13 |
| Branches |
200+ |
2214 |
| Claims Settled |
1 crore |
3.73 lakhs |
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 services for customers.
- Roadside assistance is also covered in this plan.
What is Covered?
- Death or bodily injury to a third party person.
- Damage to third party property.
- Covers loss or damage to the insured vehicle and its accessories due to:
- Accidents
- Natural/Man-made calamities
- Fire and Explosion
- In-transit damage
- Theft
- Personal Accident Cover.
What is Not Covered?
- General Ageing, wear and tear
- Damage by a person driving without a valid driving license
- Mechanical or Electrical breakdown, failure
- Damage by a person driving under the influence of Liquor/Alcohol/Drugs
- Depreciation, any consequential loss
- Loss /Damage attributable to War /Mutiny /Nuclear risks
- Damage to tyres and tubes unless the vehicle is damaged at the same time in which case the liability of the company shall be limited to 50% of the cost of replacement
- Loss /Damage, outside India.
*Know about HDFC ERGO Car Insurance benefits and coverages in this Article*
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New India Assurance Car Insurance:
New India Assurance Car Insurance is a leading provider of car insurance in India. New India Assurance Car Insurance is a company that offers car insurance for both new and used cars. New India Assurance Car Insurance is a company that offers car insurance for both new and used cars. It's one of the leading providers in the country with over 24,000 employees, 1.3 million customers, and an annual turnover of Rs. 600 crores.
New India Assurance Car Insurance provides cover against theft, fire, accidental damage to your vehicle, loss or damage to your vehicle while traveling abroad and accidents caused by third-party negligence among other things. Their policies are designed to suit your needs and budget.
What is Covered?
- Death or bodily injury to a third party person.
- Damage to third party property.
- Covers loss or damage to the insured vehicle and its accessories due to:
- Fire, explosion, self-ignition, or lightning.
- Burglary, housebreaking, or theft.
- Riot and Strike.
- Malicious Act.
- Terrorist Act.
- Earthquake (Fire and Shock) Damage.
- Flood, Typhoon, Hurricane, Storm, Tempest, Inundation, Cyclone, and Hailstorm.
- Accidental external means.
- Whilst in transit by road, inland waterway, lift, elevator or air.
- By landslide/Rockslide.
What is Not Covered?
- Wear and tear, breakdowns
- Consequential loss
- Lose when driving with an invalid driving license or under the influence of alcohol.
- Loss due to war, civil war, etc.
- Claims arising out of contractual liability.
*Know about New India Assurance Car Insurance benefits and coverages in this Article*
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Comparison of HDFC ERGO Car Insurance Vs New India Assurance:
However, this decision has become much easier with the help of PolicyBachat. Looking for HDFC ERGO vs New India Assurance Car Insurance Comparison, Key Benefits, and Features to buy the best car insurance, PolicyBachat is helping you find the best one.
Both companies offer insurance plans for your car for all your needs. However, there are some key differences between them. You should know about these beforehand so you can make the most informed choice for yourself before buying a car insurance policy.
| Distinguish |
HDFC ERGO Car Insurance |
New India Assurance Car Insurance |
| Types of Policies |
- Comprehensive Car Insurance
- Third Party Car Insurance
- Standalone Own Damage Cover
- Private Car Bundle Policy.
|
- Standalone OD (Own Damage)for Private Car
- Private Car
- Standalone CPA (Compulsory Personal Accident) Cover.
|
| Add-ons/ Riders |
- Zero Depreciation cover
- No Claim Bonus Protection
- Emergency Assistance Cover
- Downtime protection
- Engine and gearbox protection
- Return to Invoice.
|
- Zero Depreciation Cover
- Road tax cover
- No Claim Bonus
- Engine Protect Cover
- Towing Charges
- Co-passenger Cover
- Hydrostatic lock.
|
| Extra Coverages |
- 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.
|
- Loss or damage to accessories fitted in the vehicle such as stereos, fans, air-conditioners, etc.
- Personal accident cover under private car policies for:
- Legal liability to employees.
- Legal liability to non-fare paying passengers in commercial vehicles.
|
What are the Benefits and Features of HDFC ERGO Car Insurance vs New India Assurance Car Insurance?
Car insurance is a vital part of the commute for most people. It protects them from financial loss if their vehicle is stolen or damaged. It offers protection from financial loss in the event of an accident, and it covers damages to a vehicle as well.
Car insurance is also important for those who have serious medical conditions that could put them at risk if they get behind the wheel without coverage.
| HDFC ERGO Car Insurance |
New India Assurance Car Insurance |
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.
|
Features:-
- Quick claim settlement
- Instantaneous Purchase
- Wide range of Add-ons
- Claims are settled within 3 days of the application
- The complaint is resolved within 15 days of acknowledgment
- Claim payment is made within 3 days of discharge voucher receipt.
|
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.
|
Benefits:-
- Third party liability covers up to 7.5 lakhs
- The policy also pays for towing charges from the place of the accident to the workshop up to a maximum limit of Rs.300/- for Scooters/Motorcycles and Rs.1500/- for cars and commercial vehicles.
- A restricted cover is also available covering the risk of Fire and/or Theft only, in addition to the compulsory cover granted under the "Liability Only Policy".
|
Highlights:
- Quick policy purchase online
- 24x7 claim assistance
- Cashless claim settlement at network garages
- Touchless policy issuance
- No break in coverage.
|
Highlights:
- New India Assurance is the first non-life insurance company to get an 18,000 Cr premium.
- Been a market leader for four 4 decades.
- New India Assurance is the only Global Insurance company with a presence in over 28 states.
- New India Assurance has a total Assets of 61,720 Cr. and a total Net worth of 28,895 Cr.
- New India Assurance Add-on covers
- Get the New India Assurance add-on covers for extended benefits in case of any mishap.
|
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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How to Buy Best Car Insurance Policy?
Compare car insurance policy rates online in India with PolicyBachat and select the one that meets most of your financial expectations. You can easily get multiple car insurance quotes online from the best car insurance companies in India.
- Fill required details at the top of this page, and select your car model, RTO Location, registration date, and email address.
- Click on the START SAVING MONEY
- Premiums with different insurance companies are displayed with low premiums
- Select required add-ons/riders and discounts, or
- Even you can edit policy details
- After that fill in the vehicle owner details and owner details
- Purchase the best car insurance policy using online payment
- If any queries are raised call: 1800-123-4003.
Conclusion:
To get protection from unfortunate damages which make an adverse impact financially, it is better to be insured. Check all the features and benefits of HDFC ERGO vs New India Assurance car insurance before concluding the right insurance policy. Configure the premium with the benefits availed on HDFC ERGO vs New India Assurance, and compare top car insurance company quotes from top insurers online on PolicyBachat.
Select the car insurance company which has all the features and benefits that you are looking for. To make a better decision, you should make sure to know all the required information above and go for the one which gives the best coverages at good prices.