To help customers make the right decision, we've scoured the data to put together our list of the best car insurance providers as an alternative to National Insurance. The best overall car insurance company are based on their affordable rates and top-notch customer service.
National Car Insurance Alternatives in India are available for people who are looking for a car insurance policy with Good coverage and the Best Price. It is a good idea to compare different insurance companies to see which one offers the best deal. Some of these alternatives also offer discounts on the premiums if you have a good driving record.
In India, it is mandatory to have car insurance. In this article, we will discuss the top 10 national car insurance alternatives and competitors in India:-
- 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
- Shriram Car Insurance.
National Car Insurance:
National Insurance Company Limited (NIC) is one of the oldest and most preferred general insurance firms in the country. However, there are other options and competitors to the National Car Insurance that you should know about.
In addition to National, you may also want to research similar companies to find the best solution. Meanwhile, here are some other important factors you should consider when researching alternative companies regarding customer service, and email response times.
- National Insurance is the First Company to introduce the “Office on Wheels in India”.
- National Insurance Provides 24x7 Live Chat Support.
- Discounts are also offered for vehicles that have anti-theft or other security devices installed.
| Key Points |
National Car Insurance |
| Claim Settlement Ratio |
78.55% |
| Cashless Garages |
3100+ |
| Solvency Ratio |
0.62 |
| Branches |
373+ |
| Claims Settled |
2.3 lakhs |
| Why Renew? |
- Cost Effective
- Security
- Zero Paperwork
- Easy & Convenient.
|
Get a Quote
Top 10 Alternatives & Competitors of National Insurance:
Many companies offer car insurance plans. Though the basics remain the same, each company tries to innovate its plans to attract customers. But what you need from your plan may be different from what someone else wants.
So, as per your requirements, you would have to decide which plans suit you best. You can select the right plan based on the following criteria:
- Coverage being offered
- Availability of add-ons
- Availability of discounts
- The network of cashless garages
- Premium amount.
We have compiled a list of solutions that reviewers voted as the best overall alternatives and competitors to National Insurance, including Acko, Oriental, IFFCO TOKIO, etc. The below Car Insurance Companies are listed based on the High Claim Settlement ratio because the higher the ratio, the more reliable the insurer is.
What are the Top 10 National Car Insurance Alternatives in India?
National Insurance is not the only option for Car Insurance Policy. Explore other competing options and alternatives. Other important factors to consider when researching alternatives to National include price and services they provide. We have compiled a list of solutions that reviewers voted as the best overall alternatives and competitors to National Car Insurance.
1. Oriental Car Insurance
“Best Rates Overall”
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.
Likewise to its various other plans, ensures all the range of misfortune events are well covered under its Car Insurance Plan.
- Claim Settlement Ratio: 81.83%
- Cashless Garages: 2000+
- Solvency ratio: 1.40
- Branches: 1800+
- Claims Settled: 18 Lakhs.
Plans:-
- Private Car Insurance Plan
- Commercial Car Insurance Plan
- Liability Only Plan.
Benefits:
- Premium Discounts
- Cashless repair facility
- Excellent customer service.
Coverages:
- Third party Liability: Up to 7.5 lakhs
- Personal Accident Cover: Up to 15 Lakhs
- No Claim Bonus: 50%
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2. Acko Car Insurance
“Reliable Claim Assistance”
Acko General Insurance understands that car insurance is a simple and effective way to protect your car from unforeseen risks. Acko Car insurance saves costs, complies with the law, and stays hassle-free with ACKO’s online car insurance policy. Having good car insurance is a necessity to protect you from financial losses that come along with road accidents.
- Claim Settlement Ratio: 82.35%
- Cashless Garages: 1300+
- Solvency ratio: 1.91
- Branches: 200+
- Claims Settled: 10 Lakhs.
Plans:-
- Third party plan
- Comprehensive car insurance plan
- Own damage plan
- Zero depreciation cover.
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
Coverages:
- Third party Liability: Up to 7.5 lakhs
- Personal Accident Cover: Up to 15 Lakhs
- No Claim Bonus: 50%
Get a Quote
3. Edelweiss Car Insurance
“Low Premiums”
The Edelweiss Group is one of the largest financial services groups in India. Edelweiss provides a broad range of financial products and services, catering to a substantial and differentiated client base, including corporations, institutions, and individuals. They combined with a relentless focus on systems, processes, and the highest governance standards, enable us to deliver quality services to customers.
- Claim Settlement Ratio: 93.38%
- Cashless Garages: 2000+
- Solvency ratio: 2.09
- Branches: 100+
- Claims Settled: 20 Lakhs.
Plans:-
- Third Party private car liability
- Third party + own damage private car liability.
Benefits:
- Good customer support
- Priority services at preferred workshops
- Quick claim settlement.
Coverages:
- Personal Accident Cover: Rs. 2 Lakhs
- No Claim Bonus: 50%
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4. IFFCO TOKIO Car Insurance
“Advanced Options”
IFFCO Tokio Car Insurance plan is your one stop protection plan for your car. IFFCO Tokio was also the first company in India to offer property and liability insurance. Also, IFFCO Tokio General Insurance was the first to establish Bima Kendra’s across rural India. In the motor division, the insurer provides car, two-wheeler, commercial vehicle, and value auto coverage along with 24x7 on road assistance.
- Claim Settlement Ratio: 84.04%
- Cashless Garages: 4300+
- Solvency ratio: 1.73
- Branches: 200+
- Claims Settled: 8.61 Lakhs.
Plans:-
- Third Party liability
- Comprehensive car insurance
- Own damage cover
- Personal accident cover.
Benefits:
- Instant digital copy of the policy
- Quick and hassle-free claim settlement
- On-road protector coverage
- Surveyors for immediate claim initiation.
Coverages:
- Third Party Liability Cover: up to 7.5 lakhs
- Personal Accident Cover: Rs. 15 Lakhs
- No Claim Bonus: 50%
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5. Navi Car Insurance
“Best discount for Advanced Purchase”
Navi General Insurance is a leading car insurance company in the country. The company gives its policyholders a sense of empowerment with financial independence through an extensive range of affordable products and a seamless customer experience. Navi General Private Car Insurance Policy can be customized as per your requirement to get insurance for your private vehicle.
- Claim Settlement Ratio: 82.91%
- Cashless Garages: 1100+
- Solvency ratio: 2.12
- Branches: 120+
- Claims Settled: 12 Lakhs.
Plans:-
- Third party liability
- Comprehensive car insurance
- Long-term comprehensive
- Liability only private car
- COCO drives a private car package.
Benefits:
- Insurance coverage
- Legal liability
- Financial security
- Affordable premiums
Coverages:
- No Claim Bonus
- Zero protection cover
- Return to invoice
- Engine Protection.
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6. Raheja QBE Car Insurance
“Good Claim Settlement Ratio”
Raheja QBE has very competitive car insurance rates for many types of car insurance customers, which makes it worth a look if you want cheap car insurance. Its low level of car insurance complaints is another reason to consider Raheja QBE.
- Claim Settlement Ratio: 100.51%
- Cashless Garages: 1300+
- Solvency ratio: 3.66
- Branches: 100+
- Claims Settled: 16 Lakhs.
Plans:-
- Private car insurance policy
- Compulsory personal accident to owner-driver.
Benefits:
- Quick claim settlement process
- Readily available customer support
- Instant policy issuance and faster process.
Coverages:
- Third Party Liability Cover: up to 7.5 lakhs
- Personal Accident Cover: Rs. 15 Lakhs
- No Claim Bonus: 50%
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7. Royal Sundaram Car Insurance
“Best Services”
Royal Sundaram offers decent car insurance rates for all customers and many helpful add-on coverages. The level of complaints against it for car insurance is very low. The company also has many optional offerings that can give you better insurance protection, making it a good choice to look at when comparison shopping.
- Claim Settlement Ratio: 87.89%
- Cashless Garages: 4600+
- Solvency ratio: 1.87
- Branches: 158+
- Claims Settled: 15 Lakhs.
Plans:-
- Third Party Car Insurance
- Comprehensive Car Insurance.
Benefits:
- Good and hassle-free pre-sales and post-sales services
- Towing facility – spot repair services
- On-time Services
- 24x7 claim assistance.
Coverages:
- Third Party Liability Cover: up to 7.5 lakhs
- Personal Accident Cover: Rs. 2 Lakhs
- No Claim Bonus: 50%
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8. SBI Car Insurance
“Best for Budgeting”
An SBI car insurance policyholder will not have to worry about paying the garage bill or the hospital bill if he/she meets with an accident. This fully Government owned insurer offers a wide range of effective car insurance products which can help deal with different types of situations on road.
This SBI car insurance protects your finances against any losses incurred when your vehicles meet with accidents or are damaged during natural and man-made calamities.
- Claim Settlement Ratio: 86.01%
- Cashless Garages: 5000+
- Solvency ratio: 2.00
- Branches: 137+
- Claims Settled: 6.23 Lakhs.
Plans:-
- Own damage car insurance
- Third party car insurance
- Personal accident cover.
Benefits:
- Easy and hassle-free purchase process
- 24x7 claim assistance.
Coverages:
- Third Party Liability Cover: up to 7.5 lakhs
- Personal Accident Cover: Rs. 15 Lakhs
- Passenger cover: Rs. 2 lakhs
- No Claim Bonus: 50%
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9. Universal Sompo Car Insurance
“Affordable Premiums”
Universal Sompo Car Insurance shines with its optional coverage options, its claims process, and low level of complaints, which helps it overcome only average rates. Universal Sompo car insurance policy offers aid to the car owner if he/she meets with an accident that causes damage to the car. Universal Sompo car insurance plans not only cover damages but also have a compulsory personal accident cover.
- Claim Settlement Ratio: 87.96%
- Cashless Garages: 3500+
- Solvency ratio: 1.90
- Branches: 86+
- Claims Settled: 1.11 Lakhs.
Plans:-
- Third party car insurance
- Comprehensive cover.
Benefits:
- Quick claim settlement
- Instantaneous purchase
- Wide range of add-ons
- 24x7 claim assistance
- Robust customer support system.
Coverages:
- Third Party Liability Cover
- Personal Accident Cover
- Passenger cover
- No Claim Bonus.
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10. Shriram Car Insurance
“Economical & Convenient Services”
Shriram car insurance has highly competitive car insurance rates and low complaint levels make it worth checking out. The company continues to focus on the needs of customers, grooming talent, and bringing a great platform with the latest technology and ideas so that customers will get the best out of their investment portfolio and has a good claim settlement ratio.
- Claim Settlement Ratio: 79.43%
- Cashless Garages: 2000+
- Solvency ratio: 3.63
- Branches: 3850+
- Claims Settled: 2.08 Lakhs.
Plans:-
- Personal Accident cover
- Third party car insurance
- Comprehensive cover
- Long-term car insurance.
Benefits:
- 24x7 Hassle-free claim process
- Survey and assistance within a day
- Simple claim procedure
- Updated claim status.
Coverages:
- Third Party Liability Cover: Rs. 7.5 lakhs
- Personal Accident Cover: Rs. 15 lakhs.
- No Claim Bonus: up to 50%
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*The above mentioned values of all the providers are for displayed purposes only for exact readings check through the websites of the companies.*
Why Do People Shop for New Car Insurance?
Shopping around for car insurance can result in savings, but many car owners renew their policies each year without checking prices from other insurance companies.
- A bad experience with a car insurance claim
- Looking for a better price
- The current company doesn’t have the coverage types I want
Once you decide how much car insurance you need, it’s time to start shopping for a new insurance policy. Rates often vary widely among companies for the same coverage, so it’s smart to compare car insurance quotes from multiple insurers. It helps you with low prices with the best coverages, additional discounts, and good customer support.
Conclusion:
Whether you’re looking to switch insurers or you’re buying car insurance for the very first time, there are several factors to keep in mind when trying to find the right coverage for your vehicle.
We have given the best car insurance companies by analyzing important factors that will affect your customer experience. We evaluated large car insurance companies based on your needs for average rates, coverages, features available, levels of services, and claim assistance.
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.