The best car insurance companies provide great coverage, affordable payments & have a simple claims process. They also offer easy-to-use technology and excellent customer service. Choosing the best car insurance provider for you can be intimidating. That’s why we at PolicyBachat have done the process for you, scaling down the top 10 car insurance companies in the industry. In this article, we’ll review each company’s reputation, availability, coverage options, discounts, and customer experience.
The Indian car insurance industry is one of the most competitive in the world. There are many players and it’s difficult to choose which one would be best for you. We’ll help by comparing some of them with each other so that you can make an informed decision. In this article, we will help you to make the right decision by providing you with a list of 10 Liberty Car Insurance alternatives and competitors.
- ICICI Lombard Car Insurance
- Future Generali Car Insurance
- Bajaj Allianz Car Insurance
- Cholamandalam MS Car Insurance
- Digit Car Insurance
- Kotak Mahindra Car Insurance
- TATA AIG Car Insurance
- Reliance Car Insurance
- HDFC ERGO Car Insurance
- United India Car Insurance.
Getting a free quote from PolicyBachat will allow you to see how much you can save on your car insurance policy.
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The Best Car Insurance Alternatives in the Market for Liberty:
The insurance industry is constantly changing and evolving with new technologies and innovations. In the past, insurance companies have been able to offer competitive rates because they didn’t have to worry about competition. However, with the introduction of new technology, there are now new players in the market that can provide more competitive rates for their customers.
| Car Insurance Companies |
Add-ons/Riders |
| ICICI Lombard |
- Zero depreciation
- Engine protect plus
- Consumable cover
- Roadside assistance
- Key protect
- Tyre protect
- Return to invoice
- Loss of Personal Belongings.
|
| Future Generali |
- Personal accident cover
- Car damage
- Depreciation cover
- Accidental legal liabilities
- Towing assistance.
|
| Bajaj Allianz |
- Depreciation Shield
- Engine Protector
- Consumable cover
- 24x7 spot assistance
- Keys and lock replacement
- Conveyance benefit.
|
| Cholamandalam MS |
- Hydro static
- NCB Protection
- Return to invoice value
- Personal belongings
- Depreciation protection.
|
| Digit |
- Engine & gear box protect
- Breakdown assistance
- Keys & locks protect
- Personal baggage
- Conveyance benefit
|
| Kotak Mahindra |
- Consumables cover
- Zero depreciation cover
- Co-passenger cover
- Roadside assistance
- Medical expenses
- Hydrostatic lock.
|
| TATA AIG |
- No claim Bonus protection
- Roadside assistance
- Repair of glass fiber and plastic parts
- Daily allowance
- Emergency transport and hotel expenses
- Key replacement
- Engine secure.
|
| Reliance |
- NCB Retention cover
- Return to invoice
- Engine protection
- Key and lock protection
- Consumable protection
- Daily allowance.
|
| HDFC ERGO |
- Zero depreciation cover
- Engine and gearbox
- Roadside assistance
- Key and lock replacement
- NCB Protect.
|
| United India |
- Personal accident covers
- CNG/LPG bi-fuel cover
- Electrical/electronic fittings
- Fiberglass fuel tanks.
|
Liberty Car Insurance:
Liberty Company Limited is one of the oldest general insurance companies in India. It is one of the best providers in terms of customer satisfaction and value. The company is well known for its high customer ratings and affordable coverage options, including accident forgiveness.
However, it has strict eligibility requirements and not everyone qualifies for coverage. The company has come out with multiple plans at reasonable prices to cater to the different needs of customers.
Key Features:-
- Claim Settlement Ratio: 59.91%
- Cashless Garages: 4300+
- Solvency ratio: 2.92
- Branches: 110+
- Claims Settled: 1.3 Lakhs.
|
Benefits:-
- Hassle-free Claims
- Seamless claim assistance at any time
- Easy policy renewal
- Additional protection availability
- Efficient telephonic services.
|
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Tips for Choosing the Lowest-Priced Car Insurance Company:
The best way to find the lowest priced car insurance company is to compare rates and services. Many factors go into how much you'll pay for car insurance, so it's important to know what you're looking for before you start shopping. Some factors include the
- Type of car you have,
- Your driving record, and
- Where you live.
The more comprehensive coverage you purchase, the higher your rate will be. If your vehicle is a collector's item or sports a high-end sound system, then it might be worth paying more for coverage to avoid paying out-of-pocket if something happens.
Top 10 Alternatives & Competitors of Liberty Car Insurance:
If you are considering Liberty, you may also want to investigate similar alternatives or competitors to find the best solution. Other important factors to consider when researching alternatives to Liberty include reliability and ease of use. We have compiled a list of solutions that reviewers voted as the best overall alternatives and competitors to Liberty, including Reliance, HDFC ERGO, and United India.
1. ICICI Lombard Car Insurance
ICICI Lombard Insurance shines with its optional coverage options, its claims process, and low level of complaints, which helps it overcome only average rates.
Key Features:-
- Claim Settlement Ratio: 76.53%
- Cashless Garages: 9700+
- Solvency ratio: 2.90
- Branches: 165+
- Claims Settled: 2.01 Lakhs
|
Benefits:-
- Quick policy purchase
- 24x7 claim assistance
- Cashless claim settlement at network garages
- Reduce out-of-pocket expenditure in case of stolen/damaged vehicle
- Get immediate assistance from the insurer’s helpline.
|
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2. Future Generali Car Insurance
Future Generali Insurance Company is one of the leading general insurance providers in India. The company is one of the oldest and one of the most reliable insurance companies which understands the need for car insurance and thus offers insurance products that are designed to cater to the different sections of society.
Key Features:-
- Claim Settlement Ratio: 66.13%
- Cashless Garages: 4000+
- Solvency ratio: 1.61
- Branches: 121+
- Claims Settled: 2.06 Lakhs.
|
Benefits:-
- Fast & hassle-free claim settlement process
- Instant policy issuance
- Accidental towing facility within the city limits
- Personalized services claim facility
- Future Xpress and Xpress+ are available. Get immediate assistance from the insurer’s helpline.
|
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3. Bajaj Allianz Car Insurance
If you've determined Bajaj Allianz is the best option for you and they're available in your state, check out several other insurance companies to compare prices and conditions. To get the best deal, consider buying from a reputable Bajaj Allianz Company with a proven track record.
Key Features:-
- Claim Settlement Ratio: 68.06%
- Cashless Garages: 6000+
- Solvency ratio: 3.45
- Branches: 1100+
- Claims Settled: 1.92 Lakhs.
|
Benefits:-
- Wellness benefit
- Hassle-free claim settlement
- Long-term policy
- Portability benefit.
|
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4. Cholamandalam MS Car Insurance
The company is well known for its high customer ratings and affordable coverage options, including accident forgiveness. However, it has strict eligibility requirements and not everyone qualifies for coverage.
Key Features:-
- Claim Settlement Ratio: 74.3%
- Cashless Garages: 8500+
- Solvency ratio: 2.08
- Branches: 157+
- Claims Settled: 85.67%.
|
Benefits:-
- Decision on claims approval within 7 working days.
- Guaranteed 24*7 customer support.
- Avail wide network of cashless garages service.
- No Claim Bonus is up to 50% discount.
|
Know More |
5. Digit Car Insurance
Digit offers a superior selection of coverage options, from accident forgiveness to disappearing deductibles. It also has a track record for low car insurance complaints, which helps offset rates that are usually higher than its top competitors.
Key Features:-
- Claim Settlement Ratio: 74.91%
- Cashless Garages: 5800+
- Solvency ratio: 2.01
- Branches: 100+
- Claims Settled: 90.4%.
|
Benefits:-
- Cheaper premiums
- Faster claim settlement
- Top-rated company
- Efficient customer support.
|
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6. Kotak Mahindra Car Insurance
The company has many optional offerings that can give you better insurance protection, making it a good choice to look at when comparison shopping.
Key Features:-
- Claim Settlement Ratio: 74.64%
- Cashless Garages: 1300+
- Solvency ratio: 1.95
- Branches: 100+
- Claims Settled: 2.35 Lakhs.
|
Benefits:-
- Customized products and services
- High claim ratio settlement
- Digital framework
- Customer-centric ratio
- Extensive range of add-ons to choose
- Long term coverage.
|
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7. TATA AIG Car Insurance
TATA AIG Insurance shines with its optional coverage options, its claims process, and low level of complaints, which helps it overcome only average rates.
Key Features:-
- Claim Settlement Ratio: 75.41%
- Cashless Garages: 5400+
- Solvency ratio: 2.22
- Branches: 200+
- Claims Settled: 2.74 Lakhs.
|
Benefits:-
- Instant Quote
- Easy Comparison
- Paperless and Quick Policy Issuance
- Save Money, and customizable
- Safe and secure process.
|
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8. Reliance Car Insurance
Reliance has pretty affordable rates for motorists with many types of needs, making it a good company for various driver profiles. The company gives its policyholders a sense of empowerment with financial independence through an extensive range of affordable products and a seamless customer experience.
Key Features:-
- Claim Settlement Ratio: 76.89%
- Cashless Garages: 6200+
- Solvency ratio: 1.65
- Branches: 139+
- Claims Settled: 98%
|
Benefits:-
- Safeguard a policyholder’s interests at all cost
- Introduce affordable insurance options accessible to all
- Bringing best and innovative insurance products to the market
- Ensure seamless operation with maximum priority given to a customer.
|
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9.HDFC ERGO Car Insurance
HDFC ERGO has good coverage offerings and a top score for its collision repair claims processes. These advantages offset HDFC ERGO car insurance rates, which are a mixed bag depending on your driving record.
Key Features:-
- Claim Settlement Ratio: 70.02%
- Cashless Garages: 6800+
- Solvency ratio: 1.90
- Branches: 200+
- Claims Settled: 1 crore.
|
Benefits:-
- Get Instant Quotes
- Payment Reminders
- Instant Coverage
- Quick Issuance
- Zero paperwork
- Convenience.
|
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10. United India Car Insurance
The company is one of the oldest and one of the most reliable insurance companies which understands the need for car insurance and thus offers insurance products which are designed to cater to the different section of the society.
Key Features:-
- Claim Settlement Ratio: 77.12%
- Cashless Garages: 2000+
- Solvency ratio: 1.41
- Branches: 1900+
- Claims Settled: 1.45 Lakhs.
|
Benefits:-
- Quick and Easy approval of Claims Settlement
- Easy renewal options
- Multiple discounts
- Convenient paperless procedure.
|
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Conclusion:
We researched the market and 10 good providers stood out from the lot. When ranking these companies, we took into account factors like state coverage, breadth/depth of coverage, pricing as well as customer reviews.
The first step is to understand your needs. What kind of content are you looking for? What budget are you working with? We help you develop a plan based on your needs and budgets. If you're short on time, resources and location, your options may be limited. As such, take these limits into account when conducting research into which companies are right for you.
The best car insurance companies is an individual choice and could vary based on your needs and budget. We recommend the providers in alternative to Liberty based on affordability, good financial standing, positive customer ratings, and mainly high coverage levels. It’s always good to compare insurers. Get free car insurance quotes when you shop to find the best coverage and price for your car insurance.