Cars are symbols of independence, freedom, and affordability. Owning your car is one of the most awaited experiences in life, especially if you're planning to travel around a long distance like a vacation or simply moving to a new city. Or you are living in the city of Mumbai which has several vehicles is high which leads to frequent traffic congestions in the city and the time taken to travel from one place to another increase during seasons.
Mumbai is the most car-congested city in India. Considering all these, regardless of its cost or brand, what's important is you feel safe and confident while driving your car alone is having the best car insurance in Mumbai. This is why having a well-thought and well-researched car insurance policy, preferably from the best car insurance companies, is essential.
It’s important to choose the right car insurance in Mumbai for you and that means looking beyond the headline quoted price to find out whether the cover being offered is suitable for you. In other words, the best car insurance provider for you may not be the cheapest on the market. This article will help you to find the best car insurance company in Mumbai. It will help you to evaluate the premium, charges, coverage, and more. When shopping for the best car insurance company in Mumbai, two of the most important factors to consider are price and customer service.
- Universal Sompo Car Insurance
- Edelweiss Car Insurance
- Raheja QBE Car Insurance
- SBI Car Insurance
- Royal Sundaram Car Insurance
- Shriram Car Insurance
- Acko Car Insurance
- Navi Car Insurance
- Oriental Car Insurance
- IFFCO TOKIO Car Insurance.
Best Car Insurance Companies in Mumbai, Maharashtra:
The best Car insurance company in Mumbai helps you mitigate financial obligations that may arise due to an unfortunate event involving your car such as a road accident, fire, theft, natural calamities, etc. As per the Indian Motor Tariff, every car/vehicle owner is legally required to have at least a third party car insurance cover for being able to drive their car legally on Indian roads.
The definition of the best car insurance company in Mumbai is subjective as it varies from individual to individual depending on their requirements. For some individuals, a car insurance company that has the highest claim settlement ratio is the best, while for others an insurance company that has a wide network of cashless garages is the best. Thus, several parameters make an insurance company the best for an individual. One should consider the following factors while choosing a car insurance company.
- Network of Cashless Garages: There are several garages with which a car insurance company partners for the facilitation of cashless insurance claims. While choosing a car insurance company, one must check the strength of the network of cashless garages of the insurance company. One must also see if there are enough cashless garages in the vicinity of his/her locality.
- Claim Settlement Ratio: Claim Settlement Ratio tells the number of claims settled by a car insurance company out of all the claims received by it during a financial year. It is always good to go with an insurance company with a high claim settlement ratio.
- Availability of Add-ons: Add-ons refer to extra coverages that can be opted for with a standard car insurance policy to extend the coverage. Add-ons are available with own damage and comprehensive car insurance and can be opted for at the time of policy purchase as well as renewal.
- Customer Support Service: One must also check the availability and quality of the customer support service offered by an insurance company. While some insurance companies offer 24*7 customer support, some offer 5-day customer assistance services.
| Car Insurance Companies in Mumbai |
Network Garages |
Claim Settlement ratio |
Customer Support Service |
| Universal Sompo Car Insurance |
3500+ |
87.96% |
Robust customer support system |
| Edelweiss Car Insurance |
2000+ |
93.38% |
Good Customer Support |
| Raheja QBE Car Insurance |
1300+ |
100.51% |
Readily available customer support |
| SBI Car Insurance |
5000+ |
86.01% |
Easy and hassle-free customer service process |
| Royal Sundaram Car Insurance |
4600+ |
87.89% |
Good and hassle-free pre-sales and post-sales services |
| Shriram Car Insurance |
2000+ |
79.43% |
Survey and Assistance within a day |
| Acko Car Insurance |
1300+ |
82.35% |
Reliable customer service for claims and policy issuance |
| Navi Car Insurance |
1100+ |
82.91% |
Excellent customer service |
| Oriental Car Insurance |
2000+ |
81.83% |
24x7 customer support |
| IFFCO TOKIO Car Insurance |
4300+ |
84.04% |
Instant problem solving by customer support |
There is a wide range of companies offering car insurance, so finding a provider you can trust is also important. Ultimately, insurance is just a promise to pay out when something goes wrong. So you want to make sure you pick a firm that has a good track record of doing the right thing for their customers.
Choose the Best Car Insurance Companies in Mumbai, Maharashtra:
The best car insurance company in Mumbai for your situation will depend on your location. A great way to save money on car insurance is to compare quotes from multiple insurance companies in your area. We ranked the top insurance companies based on our proprietary rating, which measures both cost and customer service.
1) 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.
Benefits & Coverages:-
- Third party liability
- Personal accident cover
- Loss due to man-made calamities
- Loss due to natural calamities
- No claim bonus
- Voluntary deductible
- Anti-theft device
- Quick claim settlement
- Instantaneous purchase
- Wide range of add-ons.
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2) 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.
Benefits & Coverages:-
- Add Optional add-ons covers and customize your policy.
- Guaranteed 24*7 customer support for any queries related to the policy and intimation of claims
- Decision on claims approval within 7 working days.
- Any loss or damage resulting due to an accident or collision with another vehicle, animal, or thing like a building or pillar
- Any loss or damage that has occurred due to bad weather conditions or natural calamities is also covered
- Any loss or damage due to external explosion or fire is also covered.
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3) Raheja QBE Car Insurance
Raheja QBE Insurance shines with its optional coverage options, its claims process, and its low level of complaints, which helps it overcome only average rates.
Benefits & Coverages:-
- Damage due to third party property is covered
- Damage of bodily injury or death of a person is covered
- Additional legal liabilities for employees traveling in the insured vehicle are covered.
- Bi-Fuel kit: Any legal liability arising out of the use of the CNG-LPG bi-fuel kit.
- Passengers can cover up to Rs. 2 lacs.
- Paid driver up to a maximum of Rs. 2 lacs is covered.
- The quick claim settlement process
- Readily available customer support
- Instant policy issuance and faster process.
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4) 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.
Benefits & Coverages:-
- Comes with a compulsory Personal Accidental Plan of ₹2 lakhs for individual owners with a valid driving license. It also covers any of the occupants in the car for ₹2 lakhs per person.
- Provides cover for Third Party Liability (as mandated by the Indian Motor Vehicles Act).
- Covers damages arising out of natural calamities and disasters like floods, storms, burglary, robbery, theft, or any act of terrorism.
- Provides cover against additional legal liabilities to the employed driver and employees driving the vehicle other than the chauffeur.
- Comes with a facility of nil depreciation, where you get the complete claimed amount without any deduction on the depreciation value of the parts of the car.
- Provides cover for CNG LPG Bio Fuel Kit.
- You can avail NCB facility - No Claim Bonus, on payment of an additional premium.
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5) 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.
Benefits & Coverages:-
- Damages sustained by the insured car due to fire, ignition, or explosion
- Accidental damage caused due to external force or act
- Natural calamities like storms, floods, typhoons, etc.
- Burglary, theft, housebreaking, etc.
- Act of Terrorism, and malicious acts.
- Any legal liability arising out of damages caused to third-party property, vehicle or injury, or death claim in case of life
- Personal accident cover
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6) Shriram Car Insurance
Shriram is 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.
Benefits & Coverages:-
- 24x7 Hassle-free claim process
- Survey and assistance within a day
- Simple claim procedure
- Updated claim status
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7) 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. Has low level of car insurance complaints is another reason to consider Acko Car Insurance.
Benefits & Coverages:-
- 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.
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8) 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.
Benefits & Coverages:-
- No claim bonus
- Voluntary deductible
- Anti-theft device
- Insurance coverage
- Third party liability
- Personal accident cover
- Loss due to man-made calamities
- Loss due to natural calamities
- Legal liability
- Financial security
- Affordable premiums.
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9) 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.
Benefits & Coverages:-
- Personal accident cover
- Loss due to man-made calamities
- Third party liability
- Loss due to natural calamities
- Premium Discounts
- Cashless repair facility
- Excellent customer service.
- No claim bonus
- Voluntary deductible
- Anti-theft device
- Quick claim settlement
- Instantaneous purchase.
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10) 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.
Benefits & Coverages:-
- Damage caused due to fire, explosion, and self-ignition.
- Natural calamities like a hurricane, floods, earthquakes, storms, cyclones, etc.
- Loss of procession due to theft, vandalism, burglary, riots, loss in transit by road, inland waterways, external physical damage, and strikes.
- Third party accident, third party property damage (third party damage claim is restricted to 7.5 lacs).
- The insurance coverage covers the damages caused due to collisions and accidents.
- Get a personal accidental claim of 2 lacs including co-passenger cover.
- Quick claim settlement & Instantaneous purchase.
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Steps to Find the Right Car Insurance Companies in Mumbai, Maharashtra:
Finding the best car insurance company in Mumbai 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 several car insurance companies in Mumbai, and Maharashtra that offer 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 by comparing quotes at PolicyBachat. 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 coverage beforehand. We recommend you 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.