The best car insurance companies in 2022 will be those that can offer the best services, have the lowest rates, and have the most customer-friendly policies. A car is a big purchase and should be protected with the right insurance coverage. But with so many options out there, you may not know which company to go with. That's why we've compiled this list of India's top 10 car insurance companies for you to compare.
In 2022, the best car insurance companies will be those that can provide their customers with the best customer service. They will also be able to offer competitive rates. The best car insurance companies in 2022 will have a good understanding of their customer’s needs and make sure that they meet them. They should also offer a variety of services such as roadside assistance and mobile apps for a smoother experience.
The ranking of the top 10 car insurance companies in India was determined based on various parameters, including coverage, benefits, pricing, customer service, claim settlement ratio, and overall reputation. The information was gathered from various sources, including official websites of the insurance companies, customer reviews, and third-party ratings and rankings. The final ranking is based on a comprehensive evaluation of all these factors.
Best car insurance companies can be found in this article itself by comparing different insurance companies and selecting the one that fulfills your requirement.
- ICICI Lombard Car Insurance
- Bajaj Allianz Car Insurance
- HDFC ERGO Car Insurance
- Future Generali Car Insurance
- IFFCO TOKIO Car Insurance
- Royal Sundaram Car Insurance
- Raheja QBE Car Insurance
- Edelweiss Car Insurance
- SBI Car Insurance
- Acko Car Insurance.
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.
List of Top 10 Best Car Insurance Companies in India (According to High Settlement Ratio):
One of the best ways to save on your car insurance bill is to switch providers just be sure to keep in mind your minimum coverage requirements. And while inexpensive car insurance policies exist, it's important to balance cost savings with adequate coverage. If you get into a car accident, for example, you could end up paying more in damages than you might have with better, more expensive coverage. If you're looking to lower your car insurance costs, here are our picks for the best cheap car insurance providers.
If you want to make sure you have the best car insurance coverage and rates possible, here are our recommendations for the best car insurance companies. Finding the right fit for car insurance is tough. Here are our top 10 picks of car insurance companies in India right now.
Overview: Raheja QBE car insurance offers comprehensive coverage and a range of add-on benefits to protect your vehicle and financial liabilities.
Coverage: Raheja QBE car insurance coverage includes protection against damage or loss of your vehicle, third-party liability, and personal accident cover.
Benefits:
- 24/7 roadside assistance for emergency services like towing, fuel delivery, and battery jump-start
- No-claim bonus discounts for every claim-free policy year
- Hassle-free claim settlement process with a dedicated claims team for quick resolution
- Cashless claim settlement at over 3,000 network garages across India.
Overview: Edelweiss (Zuno) Car Insurance is a comprehensive car insurance policy that offers a range of benefits and covers various risks associated with owning a car.
Coverage: Edelweiss Car Insurance coverage includes protection against damage or loss of the insured vehicle, third-party liability, personal accident cover, and optional add-ons for enhanced coverage.
Benefits:
- Cashless claim settlement at a network of authorized garages across India
- 24x7 customer support and assistance
- No-claim bonus for claim-free policy years
- Easy online policy renewal and purchase process.
Overview: Universal Sompo Car Insurance offers comprehensive coverage for your vehicle against damages, theft, and third-party liabilities, with additional benefits like roadside assistance and cashless claims.
Coverage: Universal Sompo Car Insurance covers loss or damage to your vehicle due to accidents, theft, natural disasters, and offers third-party liability coverage.
Benefits:
- Optional add-ons for enhanced coverage, such as zero depreciation cover and engine protection cover.
- 24x7 roadside assistance for emergency services like towing, battery jumpstart, fuel delivery, and more.
- Cashless claim settlement at network garages, with minimal paperwork and hassle-free process.
- Quick and easy online purchase and renewal of policies, with instant policy issuance and renewal.
Overview: Royal Sundaram Car Insurance is a comprehensive insurance policy that offers extensive coverage for cars and other vehicles, along with a range of additional benefits and features.
Coverage: Royal Sundaram Car Insurance provides coverage for accidental damage, theft, third-party liability, personal accident, and a range of other risks associated with owning and driving a car.
Benefits:
- Online purchase and renewal allows for easy purchase and renewal of policies online, with minimal paperwork.
- Add-on covers Offer a range of add-on covers such as zero depreciation, engine protection, and return to invoice, among others.
- Roadside assistance provides round-the-clock assistance for emergencies such as breakdowns, flat tires, and accidents.
- No-claim bonus offers discounts on premium for every claim-free year.
Overview: SBI Car Insurance offers comprehensive coverage for your car against damages, theft, and third-party liability.
Coverage: SBI Car Insurance provides coverage for loss or damage to the insured vehicle due to accidents, theft, natural calamities, and third-party liabilities.
Benefits:
- SBI Car Insurance offers cashless claims facility at over 3,000 network garages across India. This means that if your car is damaged in an accident, you can get it repaired without having to pay cash upfront.
- SBI Car Insurance offers a no-claim bonus for policyholders who do not make any claims during the policy term. This bonus can help reduce the cost of your premium during renewal.
- The policy provides personal accident cover for the owner-driver of the vehicle up to a certain limit.
- SBI Car Insurance provides 24/7 customer support through their toll-free number and email.
Overview: IFFCO TOKIO Car Insurance is a comprehensive policy that provides protection to your vehicle against various damages, accidents, thefts, and third-party liabilities.
Coverage: IFFCO TOKIO Car Insurance covers accidental damages, theft, third-party liabilities, natural calamities, man-made disasters, personal accident cover, and optional add-ons like zero depreciation and roadside assistance.
Benefits:
- Cashless repair services
- Quick claim settlement
- Extensive coverage options.
Overview: Navi car insurance is a digital-first insurance company in India that offers affordable and convenient car insurance policies with a focus on customer experience.
Coverage: Navi car insurance coverage provides protection against damages caused to your car due to accidents, theft, or natural calamities, as well as against third-party liabilities arising out of accidents.
Benefits:
- Navi car insurance offers 24x7 customer support to its customers through multiple channels such as phone, email, and chat.
- Navi car insurance offers a no-claim bonus (NCB) to its customers for every claim-free year. The NCB can be used to avail of discounts on the premium at the time of renewal.
- Navi car insurance offers various add-on covers such as zero depreciation cover, engine protector cover, and roadside assistance cover, etc., that can be purchased along with the basic policy to enhance the coverage.
- Navi car insurance offers an easy online renewal of policies, which can be done in a few simple steps without any paperwork.
Overview: Acko is a digital-first car insurance company in India that offers affordable and hassle-free insurance policies with instant claims settlement.
Coverage: Acko car insurance provides coverage against damage, theft, and third-party liabilities, along with add-ons like zero depreciation and roadside assistance.
Benefits:
- Affordable premiums.
- Instant policy purchase and renewal online.
- Quick and hassle-free claim settlement.
- 24x7-customer support.
- Cashless claim facility at network garages.
Overview: Oriental Car Insurance is a type of insurance policy that provides coverage for damages and losses incurred by the insured's car due to accidents, theft, natural calamities, and third-party liabilities in India.
Coverage: Oriental Car Insurance offers comprehensive coverage for accidental damage, theft, and third-party liabilities.
Benefits:
- The company has a wide network of garages where you can get cashless repairs for your vehicle in case of damage.
- You can get a discount on your premium at the time of renewal if you haven't made any claims in the previous policy term.
- Oriental Car Insurance has a dedicated customer support team to assist you with any queries or issues related to your policy.
Overview: Shriram Car Insurance offers comprehensive coverage and a range of benefits to car owners at an affordable price.
Coverage: Shriram Car Insurance provides coverage for damages to the insured car, third-party liabilities, personal accident cover for the driver and passengers, and optional add-ons for additional protection.
Benefits:
- The policy offers NCB for every claim-free year, which can reduce the premium amount at the time of policy renewal.
- Shriram Car Insurance has tie-ups with a wide network of garages and service centers across the country, which allows for cashless claim settlement.
- The policy offers various add-on covers, such as zero depreciation, engine protection, key replacement, and roadside assistance, which can be customized as per the customer's requirements.
- Shriram Car Insurance has a dedicated customer service team and claims settlement department that ensures quick and hassle-free claim settlement.
Finding the best car insurance company, policy and price hinge on a variety of factors and the vehicle you drive and the state you live in also play a role in how much you'll pay for car insurance coverage. The average annual premium for full coverage is Rs. 2000 to Rs.5000, according to PolicyBachat, but most of our top car insurance picks have average premiums that are vary in coverages.
Conclusion:
Our top car insurance picks for everyone needs are discussed above. Top 10 companies stood out among the competition as the best car insurance providers. High customer satisfaction scores and competitive rates are among the reasons we picked these carriers, but they aren't the only good options out there. While these carriers beat out other picks, depending on where you live and the type of coverage you're interested in, they may be good options.
When ranking these insurers, our team considered state availability, breadth of coverage, Pricing, and customer satisfaction. The first step in the process is to determine your needs. Next, consider your budget. How much are you willing to spend on this service? Is your budget constrained by other factors such as time, resources, and location? Finally, research the companies that fit these criteria and decide which one is best for you.
The best car insurance companies can vary based on your needs and budget. We recommend the above providers based on affordability, strong financial standing, positive customer service ratings, and mainly high claim settlement ratio. 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.