It can be hard to find the perfect car insurance company, but by doing some research you'll have a much better chance of finding a safe and reliable one. To help our customers make the best decision, we've collected the data from several providers to compile our list of the top car insurance companies.
If you're looking for alternative options to SBI Insurance, be sure to check out our list. The best car insurance company's overall rating is based on a number of different factors, but the price and customer service quality can really make or break things.
To find the best car insurance for you, figure out your budget, how much, and what kind of coverage you need. Then get quotes from top insurers and smaller regional companies for the same level of coverage. Consider each insurer's price, customer service ratings, and coverage options. Make sure you understand what's included with each policy, including perks and discounts.
To find the right SBI car insurance plan, you need to look at all your options. To compare providers for your area, choose from the links below:-
- Royal Sundaram Car Insurance
- Universal Sompo Car Insurance
- Edelweiss Car Insurance
- IFFCO TOKIO Car Insurance
- Navi Car Insurance
- Raheja QBE Car Insurance
- Oriental Car Insurance
- National Car Insurance
- Shriram Car Insurance
- Magma HDI Car Insurance.
SBI Car Insurance
What is it?
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. |
Advantages:-
- Easy and hassle-free purchase process
- 24x7 claim assistance
- Provides cover for CNG LPG Bio Fuel Kit.
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Disadvantages:-
- Loss or damage caused while driving under the influence of alcohol or any other intoxicating substance
- Loss or damage due to depreciation of the car's value
- Loss or damage due to war or nuclear risks.
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Key Features:-
- Claim Settlement Ratio: 86.01%
- Cashless Garages: 5000+
- Solvency ratio: 2.00
- Branches: 137+
- Claims Settled: 6.23 Lakhs.
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Get a Quote |
How do you get the Best Car Insurance Rates?
- Firstly, it’s important to work out exactly what you want from your car insurance by deciding on the level of cover.
- Shop around and compare your options from the insurers willing to cover you and your car.
- Price will likely be a big factor for you but it shouldn’t be the only detail you look at.
- Check out the policy benefits as well as the price. Keep in mind that the cheapest policies don’t always work out to be best when something goes wrong.
- Continue to build your no claims bonus to keep your premium low.
- You may also want to consider multi-car insurance if you own more than one car, which could see a discount added to your premium.
Top 10 Alternatives & Competitors of SBI Car Insurance:
If you are considering SBI, you may also want to investigate similar alternatives or competitors to find the best solution. Other important factors to consider when researching alternatives to SBI include customer service and emails.
1. Royal Sundaram Car Insurance
What is it?
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. |
Advantages:-
- Good and hassle-free pre-sales and post-sales services
- Towing facility – spot repair services
- On-time Services
- 24x7 claim assistance.
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Disadvantages:-
- Any wear-and-tear of the car due to aging
- Any mechanical and electrical breakdown
- Private cars used for remuneration purpose is not covered
- Driving without a valid driving license.
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Key Features:-
- Claim Settlement Ratio: 87.89%
- Cashless Garages: 4600+
- Solvency ratio: 1.87
- Branches: 158+
- Claims Settled: 15 Lakhs.
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Get a Quote |
2. Universal Sompo Car Insurance
What is it?
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. |
Advantages:-
- Quick claim settlement
- Instantaneous purchase
- Wide range of add-ons
- 24x7 claim assistance
- Robust customer support system.
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Disadvantages:-
- Normal Wear and tear and general ageing of the vehicle.
- Depreciation or any consequential loss.
- Mechanical/ Electrical breakdown.
- Vehicle being used otherwise then in accordance with limitations of use.
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Key Features:-
- Claim Settlement Ratio: 87.96%
- Cashless Garages: 3500+
- Solvency ratio: 1.90
- Branches: 86+
- Claims Settled: 1.11 Lakhs.
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Get a Quote |
3. Edelweiss Car Insurance
What is it?
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. |
Advantages:-
- Good customer support
- Priority services at preferred workshops
- Quick claim settlement.
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Disadvantages:-
- Any damage to your car in case of an accident
- Any injury to passenger travelling in your car if you haven't taken the 'Personal Accident Cover
- Depreciation or the drop in value, of your car and its parts due to age and wear and tear.
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Key Features:-
- Claim Settlement Ratio: 93.38%
- Cashless Garages: 2000+
- Solvency ratio: 2.09
- Branches: 100+
- Claims Settled: 20 Lakhs.
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Get a Quote |
4. IFFCO TOKIO Car Insurance
What is it?
The company has many optional offerings that can give you better insurance protection, making it a good choice to look at when comparison shopping. |
Advantages:-
- Instant digital copy of the policy
- Quick and hassle-free claim settlement
- On-road protector coverage
- Surveyors for immediate claim initiation.
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Disadvantages:-
- Planned damage liability, breach of policy will lapse the policy
- A normal course of mechanical and electrical breakdown, wear & tear, flat tires.
- A driving vehicle without a valid driving license
- Damage of tires without any accidental damage will claim you 50% of the damage cost.
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Key Features:-
- Claim Settlement Ratio: 84.04%
- Cashless Garages: 4300+
- Solvency ratio: 1.73
- Branches: 200+
- Claims Settled: 8.61 Lakhs.
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Get a Quote |
5. Navi Car Insurance
What is it?
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. |
Advantages:-
- Insurance coverage
- Legal liability
- Financial security
- Affordable premiums.
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Disadvantages:-
- Accidental damages while driving under the influence of alcohol or intoxicating drugs.
- Accidental damages during war or similar conditions
- Any claims against an incident when your insurance policy was not active.
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Key Features:-
- Claim Settlement Ratio: 82.91%
- Cashless Garages: 1100+
- Solvency ratio: 2.12
- Branches: 120+
- Claims Settled: 12 Lakhs.
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Get a Quote |
6. Raheja QBE Car Insurance
What is it?
Raheja QBE Insurance shines with its optional coverage options, its claims process and low level of complaints, which helps it overcome only average rates. |
Advantages:-
- Quick claim settlement process
- Readily available customer support
- Instant policy issuance and faster process.
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Disadvantages:-
- A claim arising out of the contractual liability is not covered
- Damage caused by nuclear weapons material is not covered
- A claim arising out of contractual liability.
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Key Features:-
- Claim Settlement Ratio: 100.51%
- Cashless Garages: 1300+
- Solvency ratio: 3.66
- Branches: 100+
- Claims Settled: 16 Lakhs.
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Get a Quote |
7. Oriental Car Insurance
What is it?
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. |
Advantages:-
- Premium Discounts
- Cashless repair facility
- Excellent customer service.
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Disadvantages:-
- Mechanical or electrical breakdown, depreciation, wear and tear.
- In the event of any loss or damage or liability which has happened beyond the geographic area as defined in the plan
- For any loss or damage in case the vehicle is being driven by any third person other than a Driver as stated in the Driver’s clause.
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Key Features:-
- Claim Settlement Ratio: 81.83%
- Cashless Garages: 2000+
- Solvency ratio: 1.40
- Branches: 1800+
- Claims Settled: 18 Lakhs.
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Get a Quote |
8. National Car Insurance
What is it?
The company is one of the oldest insurance players offering multiple insurance policies to fulfill the different needs of the customers. |
Advantages:-
- 24x7 emergency assistance
- Quick & Hassle-free Claim Assistance
- Easy to make a claim
- Excellent customer support.
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Disadvantages:-
- Any mechanical and electrical breakdown
- Private cars used for remuneration purpose is not covered
- Any wear-and-tear of the car due to aging
- Driving without a valid driving license.
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Key Features:-
- Claim Settlement Ratio: 78.55%
- Cashless Garages: 3100+
- Solvency ratio: 0.62
- Branches: 373+
- Claims Settled: 2.3 Lakhs.
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Get a Quote |
9. Shriram Car Insurance
What is it?
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. |
Advantages:-
- 24x7 Hassle-free claim process
- Survey and assistance within a day
- Simple claim procedure
- Updated claim status.
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Disadvantages:-
- Accidental loss or damage caused due to willful Negligence is not covered.
- Damage due to nuclear or radioactivity or nuclear weapons, war, and related activities.
- Consequential loss, depreciation, wears & tears mechanical and electrical breakdown/failure, or breakages are not covered.
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Key Features:-
- Claim Settlement Ratio: 79.43%
- Cashless Garages: 2000+
- Solvency ratio: 3.63
- Branches: 3850+
- Claims Settled: 2.08 Lakhs.
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Get a Quote |
10. Magma HDI Car Insurance.
What is it?
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. |
Advantages:-
- Save time
- Get better price
- Easy and convenient process
- Trained professionals at your service.
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Disadvantages:-
- Mechanical or Electrical breakdown and failure
- Damage to tyres/tubes of the Car, unless damage to the vehicle in the accident with liability
- Damage by a person driving under the influence of Liquor/Alcohol/Drugs.
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Key Features:-
- Claim Settlement Ratio: 82.35%
- Cashless Garages: 1300+
- Solvency ratio: 1.79
- Branches: 200+
- Claims Settled: 10 Lakhs.
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Get a Quote |
What are the Steps to find the Best Car Insurance Company?
Finding the best car insurance for you will depend on your priorities. If you want to save money, you might opt for the insurer that gives you the cheapest quote. If you want the security of knowing your insurer will pay your claims timely and efficiently, you might choose the company with the best customer service reputation in your region.
An affordable company with a strong service experience and the coverages you need. You can find the top company for you by taking a few key steps:-
- Research customer service reputations
- Compare real quotes from insurers
- Make sure the company has the coverages you want
- Double check financial stability ratings.
Conclusion:
There are a number of insurance companies that offer many of the same types of coverage. However, there are some distinct differences among them so it's important to think about which company you believe would provide the best customer service for your needs. We evaluated large car insurance companies based on your needs for average rates, coverages, features available, levels of services, and claim assistance.
If you’re looking to buy car insurance, it’s important to compare features and prices with a range of different providers. Different cost options will vary depending on your budget and the level of protection you need, so it can be worthwhile to spend some time researching the right level of cover beforehand.
We recommend you to go through all the providers based on their affordability, strong financial standing, and positive customer service ratings. It’s always good to compare insurers. Get free car insurance quotes when you shop to find the best coverage and price for your insurance needs.