The best car insurance companies understand your needs and provide affordable coverage so you can feel confident on the road. For example, if you're thinking about switching car insurance providers for the first time in a while or if you are buying car insurance for the very first time, there are many aspects to take into consideration.
PolicyBachat analyzed all these factors and ranked some of the best car insurance companies in India as a suitable alternative for Magma HDI Insurance. The best car insurance policy may depend on where you live and what you value, too.
Our top 10 picks for Best Car Insurance Alternatives for Magma HDI are:-
- Shriram Car Insurance
- Oriental Car Insurance
- Acko Car Insurance
- Edelweiss Car Insurance
- IFFCO TOKIO Car Insurance
- Navi Car Insurance
- Raheja QBE Car Insurance
- Royal Sundaram Car Insurance
- SBI Car Insurance
- Universal Sompo Car Insurance.
So you want to make a smart decision when picking the perfect car insurance policy? It's a good idea to consider things such as coverage price, discounts, customer satisfaction/reviews and filing policies. Use our ranking of insurance providers as your go-to guide for the best car insurance solutions!
Our rankings also include the best car insurance companies based on your priorities. If you care more about customer service than price, you'll find our list of as good options for you. And if problems with the law have affected your rates in the past, we can help to find a company who's willing to work with you under your unique circumstances.
Get your free quote on car insurance with PolicyBachat to find out how much you can save.
Check Premiums
Alternative Ways to Save Money on Your Next Car Insurance Policy:
The average annual cost of owning a car is Rs.2500 to Rs. 5000. This can be expensive, especially if you’re not making a lot of money. Fortunately, there are ways to save money on your next car insurance policy. Here are some tips:
- Shop around for the best rate and coverage
- Consider getting an older car with lower insurance rates
- Consider paying for your repairs
- Consider dropping collision and comprehensive coverage.
In conclusion, there are a lot of ways to save money on your next car insurance policy. You can use the tips and tricks above to find a plan that best suits your needs.
Magma HDI Car Insurance:
Magma HDI is worth considering as your top choice. The company offers reputable service, a wide selection of coverage and cheap car insurance rates, according to our rate estimates.
Key Features:-
- Claim Settlement Ratio: 82.35%
- Cashless Garages: 1300+
- Solvency ratio: 1.79
- Branches: 200+
- Claims Settled: 10 Lakhs.
|
Benefits:-
- Save time
- Get better price
- Easy and convenient process
- Trained professionals at your service.
|
Know More |
Best Car Insurance Alternatives to Magma HDI Car Insurance:
| |
Companies |
Discounts |
| “Economical and convenient services” |
Shriram Car Insurance |
- Save up to 50%
- Third party covers up to 7.5 lakhs.
|
| “Best for customizable premiums” |
Oriental Car Insurance |
- Save up to 75%
- Personal accident cover up to 15 lakhs.
|
| “Reliable Claim Assistance” |
Acko Car Insurance |
- Save 93% of up to Rs. 1200 on Car Insurance
- Premium starts at Rs. 2094
|
| “Low Premiums” |
Edelweiss Car Insurance |
- EMI Protector
- 50% discount on own damage premium.
|
| “Advanced Options” |
IFFCO TOKIO Car Insurance |
- Save up to 70% on premium
- Personal Accident cover is up to Rs. 15 lakhs
|
| “Best discounts for Advanced Purchase” |
Navi Car Insurance |
- Premium starts at Rs. 2072
- Third party liability is up to Rs. 7.5 lakhs.
|
| “Good Claim Settlement Ratio” |
Raheja QBE Car Insurance |
- Save upto 75% on Premium
- Customer oriented approach
|
| “Best services” |
Royal Sundaram Car Insurance |
- 100% invoice insurance price
- Personal Accident Cover is up to Rs. 2 Lakhs.
|
| “Best for Budgeting” |
SBI Car Insurance |
- Save up to 85% on premium
- Third party price for less than 1000 cc cars is Rs. 1500.
|
| “Affordable Premiums” |
Universal Sompo Car Insurance |
- Personal Accident cover is up to Rs. 15 lakh for Owner-driver.
- Third Party up to Rs. 7.5 lakh.
|
Top 10 Alternatives & Competitors of Magma HDI Car Insurance:
If you are considering Magma HDI, you may also want to investigate similar alternatives or competitors to find the best solution. Other important factors to consider when researching alternatives to Magma HDI include customer service and emails.
There are many other companies that offer similar services as Magma does but they might not be as well-known or established so here are 10 alternatives to Magma:
1) Shriram Car Insurance
Shriram as the best car insurance for customizable premiums because of its Name Your Price tool, which allows drivers to shop for coverage according to their budget.
Key Features:-
- Claim Settlement Ratio: 79.43%
- Cashless Garages: 2000+
- Solvency ratio: 3.63
- Branches: 3850+
- Claims Settled: 2.08 Lakhs.
|
Benefits:-
- 24x7 Hassle-free claim process
- Survey and assistance within a day
- Simple claim procedure
- Updated claim status.
|
Know More |
2) Oriental Car Insurance
The company provides great and innovative products for its customers. Oriental Car Insurance Plans have been deliberated to gratify the need for protection cover for our cherished vehicle.
Key Features:-
- Claim Settlement Ratio: 81.83%
- Cashless Garages: 2000+
- Solvency ratio: 140
- Branches: 1800+
- Claims Settled: 18 Lakhs.
|
Benefits:-
- Premium Discounts
- Cashless repair facility
- Excellent customer service.
|
Know More |
3) Acko Car Insurance
Acko has very competitive car insurance rates for many types of car owners, which makes it worth a look if you want cheap car insurance. It has low level of car insurance complaints are another reason to consider Acko Car Insurance.
Key Features:-
- Claim Settlement Ratio: 82.35%
- Cashless Garages: 1300+
- Solvency ratio: 1.91
- Branches: 200+
- Claims Settled: 10 Lakhs.
|
Benefits:-
- 24x7 emergency assistance
- A dedicated claims team
- Claim approval within 7 days
- 1 day pick up for repairs
- 3 step door delivery at no cost.
|
Know More |
4) Edelweiss Car Insurance
Edelweiss offers decent car insurance rates for all car owners and many helpful add-on coverages. The level of complaints against it for car insurance is very low, making it a company to check out if you’re shopping for car insurance.
Key Features:-
- Claim Settlement Ratio: 93.38%
- Cashless Garages: 2000+
- Solvency ratio: 2.09
- Branches: 100+
- Claims Settled: 20 Lakhs
|
Benefits:-
- Good customer support
- Priority services at preferred workshops
- Quick claim settlement.
|
Know More |
5) IFFCO TOKIO 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: 84.04%
- Cashless Garages: 4300+
- Solvency ratio: 1.73
- Branches: 200+
- Claims Settled: 8.61 Lakhs.
|
Benefits:-
- Instant digital copy of the policy
- Quick and hassle-free claim settlement
- On-road protector coverage
- Surveyors for immediate claim initiation.
|
Know More |
6) Navi Car Insurance
Navi 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: 82.91%
- Cashless Garages: 1100+
- Solvency ratio: 2.12
- Branches: 120+
- Claims Settled: 12 Lakhs.
|
Benefits:-
- Insurance coverage
- Legal liability
- Financial security
- Affordable premiums.
|
Know More |
7) Raheja QBE Car Insurance
Raheja QBE 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: 100.51%
- Cashless Garages: 1300+
- Solvency ratio: 3.66
- Branches: 100+
- Claims Settled: 16 Lakhs.
|
Benefits:-
- Quick claim settlement process
- Readily available customer support
- Instant policy issuance and faster process.
|
Know More |
8) Royal Sundaram Car Insurance
Royal Sundaram 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: : 87.89%
- Cashless Garages: 4600+
- Solvency ratio: 1.87
- Branches: 158+
- Claims Settled: 15 Lakhs.
|
Benefits:-
- Good and hassle-free pre-sales and post-sales services
- Towing facility – spot repair services
- On-time Services
- 24x7 claim assistance.
|
Know More |
9) SBI Car Insurance
SBI has good coverage offerings and a top score for its collision repair claims processes. These advantages offset SBI’s car insurance rates, which are a mixed bag depending on your driving record.
Key Features:-
- Claim Settlement Ratio: : 86.01%
- Cashless Garages: 5000+
- Solvency ratio: 2.00
- Branches: 137+
- Claims Settled: 6.23 Lakhs.
|
Benefits:-
- Easy and hassle-free purchase process
- 24x7 claim assistance.
|
Know More |
10) Universal Sompo 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: : 87.96%
- Cashless Garages: 3500+
- Solvency ratio: 1.90
- Branches: 86+
- Claims Settled: 1.11 Lakhs.
|
Benefits:-
- Quick claim settlement
- Instantaneous purchase
- Wide range of add-ons
- 24x7 claim assistance
- Robust customer support system.
|
Know More |
Conclusion:
Picking the right car insurance plan for you may be difficult. You should carefully consider your specific needs and evaluate several insurers based on their financial strength, discounts, and technology.
In this article, you will know everything about Magma HDI car insurance and the alternatives for it. Additionally, you'll learn about the types of coverage most providers offer and how your monthly premium can be raised or lowered. There's also a step-by-step instruction on how to buy your own car insurance policy with ease.
If you're looking for a low monthly premium and additional coverage, consider one of the following three companies. Each plan has different features & benefits that may be more suited to your budgets and needs. Before selecting a company, check the features/benefits of each offer.