Complete List of All Car Insurance Companies in India
Check the complete list of car insurance companies registered with the Insurance Regulatory and Development Authority of India (IRDAI).
Car insurance is a type of motor insurance that safeguards you at the time of financial or legal need. In India, several non-health insurance companies offer motor insurance. When considering car insurance, it is important to compare all companies and select the one that best suits your needs. These companies are regulated by the Insurance Regulatory Development Authority of India (IRDAI).
Types of Car Insurance Policies in India
Car insurance comes in three types i.e. third-party liability, own damage or SAOD and comprehensive car insurance. All these three car insurance offers a safety net of a different kind. For your ease of understanding here is InsuranceDekho’s recommendation on the type of car insurance to take based on your vehicle's age:
|
Vehicle Age |
Plan Type |
Recommended Add-ons |
|
0 Years (New Vehicle) |
1-year Standalone Own Damage (SAOD) + 3 Years Third-party Damage |
RTI + Zero Depreciation, Consumables Protection, Roadside Assistance, Engine Protect, Key Protection |
|
1-3 Years |
Standalone Own Damage (SAOD) |
Zero Depreciation, Consumable Protection, Roadside Assistance, Engine Protect, Key Protection |
|
4-5 Years |
Comprehensive Plan |
Zero Depreciation, Consumable Protection, Roadside Assistance, Engine Protect |
|
6-7 Years |
Comprehensive Plan |
Zero Depreciation, Consumable Protection, Roadside Assistance |
|
8-10 Years |
Comprehensive Plan |
Basic Plan |
|
More than 10 Years |
Third-Party Plan |
No add-ons |
List of Companies Offering Car Insurance in India 2024
|
Car Insurance Company |
Network Garages |
Claim Settlement Ratio |
Founding Year |
|
HDFC ERGO Car Insurance |
6,800 |
100% |
2002 |
|
ICICI Lombard Car Insurance |
5,600 |
93.4% |
2001 |
|
United India Car Insurance |
3,100 |
95.00% |
1938 |
|
New India Car Insurance |
3,000 |
92.23% |
1919 |
|
Royal Sundaram Car Insurance |
3,300 |
98.33% |
2001 |
|
Reliance Car Insurance |
8,200 |
98.00% |
2000 |
|
SBI Car Insurance |
16,000 |
98.00% |
2009 |
|
Future Generali Car Insurance |
3,500 |
96.30% |
2007 |
|
Liberty Car Insurance |
4,500 |
94.00% |
2013 |
|
IFFCO Tokio Car Insurance |
4,300 |
95.82% |
2000 |
|
Bajaj Allianz Car Insurance |
4,000 |
98.00% |
2001 |
|
Kotak Mahindra Car Insurance |
2,327 |
90.00% |
2015 |
|
Zuno Car Insurance |
1,500 |
98.00% |
2016 |
|
Bharti AXA Car Insurance |
5,200 |
88.49% |
2008 |
|
Cholamandalam MS Car Insurance |
4,636 |
96.00% |
2001 |
|
Oriental Car Insurance |
3,100 |
95.49% |
1947 |
|
Universal Sompo Car Insurance |
3,500 |
96.00% |
2007 |
|
Magma HDI Car Insurance |
4,000 |
94.10% |
2009 |
|
Raheja QBE Car Insurance |
1,000 |
96.00% |
2007 |
|
Tata AIG Car Insurance |
7,500 |
91.80% |
2001 |
|
National Car Insurance |
3,100 |
93.00% |
1906 |
|
Shriram Car Insurance |
2,000 |
96.00% |
2006 |
|
Acko Car Insurance |
2,000 |
72.68% |
2016 |
|
Navi Car Insurance |
900 |
53.10% |
2016 |
Note: The above data on claim settlement was last updated on July 4th, 2024
Factors To Keep In Mind While Choosing The Best Car Insurance Company In India
There are innumerable factors that everyone should consider while purchasing car insurance. These factors may vary as per the unique requirements of an individual. For example- a person who travels frequently would look for a wide network of cashless garages whereas an individual who is not familiar with the digital world would look for the best customer service to help themselves. Below mentioned are some of the factors that you should consider while choosing a car insurance policy.
- Network Of Cashless Garages:
A car insurance company may collaborate with a number of garages to facilitate cashless insurance claims. When selecting a car insurance provider, one must consider the network of cashless garages of the insurance company. Moreover, you should also check to discover whether there are any cashless garages nearby.
- Claim Settlement Ratio:
The Claim Settlement Ratio shows the number of claims settled by a car insurance company as a percentage of all claims received within a fiscal year. It is always preferable to deal with an insurance provider that has a high claim settlement ratio.
- Add-ons Available:
In order to increase the coverage of a normal car insurance policy, additional coverages are provided, generally referred to as add-ons. Own-damage and comprehensive car insurance both offer add-ons that can be selected at the time of policy purchase or renewal.
- Customer Support Service:
The accessibility and efficiency of an insurance company's customer support service must also be verified. While some insurance firms provide customer care around the clock, others only provide it five days a week. Therefore, you must go through the existing customer reviews of the company and buy from the best company according to your preference.
Conclusion
With a rise in the ratio of accidents, it has become enormous to have a valid car insurance policy from the top insurance provider. You can check your options from the above-given list by comparing the claim settlement ratios of the companies.
Also Read:
Easy Steps For Renewing Expired Car Insurance Policy | Detailed Guide On How To Claim A Car Insurance Online
