Home

>

Best Car Insurance Companies

>

Table of contents

Top 10 Car Insurance Companies in India

Getting car insurance if you are a car owner is mandated by law in India. But which is the best motor insurance in India? We will look at the top 10 car insurance companies in India. 

We will compare them based on the amount their premium starts from, the claim settlement ratio, features, benefits, add-on covers, etc. 

Best Car Insurance Companies in India

Here are some of the best car insurance companies in India, based on factors like coverage, customer service, claim settlement ratio, and overall reputation:

1. TATA AIG Car Insurance

TATA AIG car insurance boasts a 98% claim settlement ratio as of FY 2020-21. Here is what makes it one of the best car insurance companies -

Premiums Starting from

Rs.2,094 per year

Network Garages

Over 7,500

Personal Accident Cover

Up to Rs.15 Lakh

Features & Benefits

  • Affordable premiums

  • Easy and fast claims

  • Up to 50% no-claim bonus

  • Up to 13 customizable add-ons

  • 24X7 customer assistance

Add-on Covers

  • Zero depreciation cover

  • No claim bonus

  • 24X7 roadside assistance

  • Engine protect cover

  • Tyre protection cover

  • Daily allowance cover

  • Consumables cover, etc.

Customer Care

1800 266 7780 | customersupport@tataaig.com 

2. ICICI Lombard Car Insurance

ICICI Lombard Car Insurance’s claim settlement ratio is 93.4%, according to Insurance Dekho. Here are some reasons for considering this insurance for your car -

Premiums Starting from

Rs.2,094 per year

Network Garages

Over 6,100

Personal Accident Cover

Up to Rs.15 Lakh

Features & Benefits

  • Instant claim settlement via InstaSpect

  • Up to 50% no-claim bonus

  • Insurance for electric vehicles

  • Up to 9 add-on covers

  • Doorstep cashless repairs

  • Covers accidents, natural calamities, theft, fire, etc.

Add-on Covers

  • Roadside assistance

  • Engine protection

  • Consumables cover

  • Zero depreciation cover

  • Garage cash cover

  • Loss of personal belongings cover

Customer Care

1800 2666 | customersupport@icicilombard.com 

3. HDFC Ergo Car Insurance

HDFC Ergo Car Insurance is trusted by over 1.6 Crore customers. You can get in touch with them even over WhatsApp for any queries. Let’s look at some other highlights of this insurance -

Premiums Starting from

Rs.2,551 per year

Network Garages

Over 8,700

Personal Accident Cover

Up to Rs.15 Lakh

Features & Benefits

  • Overnight vehicle repairs

  • Doorstep windshield repairs

  • IDV up to Rs.1 Lakh

  • New add-ons for EV owners

  • Covers physical injury, death, and damage to property

  • 8+ add-on covers

Add-on Covers

  • Zero depreciation cover

  • Return to invoice

  • No claim bonus 

  • Engine and gear-box protection

  • Emergency assistance cover

  • Downtime protection

  • Cost of consumables

  • Loss of personal belongings

  • Tyre protection

  • EMI protector and EMI protector plus

Customer Care

8169500500 (WhatsApp) | 022 6234 6234 | care@hdfcergo.com 

4. Bajaj Allianz Car Insurance

Bajaj Allianz Car Insurance is one of the best motor insurance companies and has a 98% claim settlement ratio. Some more highlights of this insurance company are listed below -

Premiums Starting from

Rs.2,094 per year

Network Garages

Over 7,200

Personal Accident Cover

Up to Rs.15 Lakh

Add-on Covers

  • Zero depreciation cover

  • 24X7 spot assistance

  • Engine protection

  • Key and lock replacement

  • Consumables cover

  • Personal baggage cover

  • Conveyance benefits, etc.

Customer Care

1800 209 5858 | bagichelp@bajajallianz.co.in 

5. Royal Sundaram Car Insurance

With 98.33% of claims settled, Royal Sundaram Car Insurance is one of the top 10 car insurance companies in India. Here are some more details about them -

Premiums Starting from

Rs.2,094 per year

Network Garages

Over 7,600

Personal Accident Cover

Up to Rs.15 Lakh

Trusted by

2 Crore+ customers

Features & Benefits

  • 11,800+ network hospitals

  • Covers accidents, fire, theft, natural disasters, etc.

  • Covers third-party losses & personal accidents

  • Hassle-free claim process

Add-on Covers

  • Zero depreciation cover

  • Aggravation cover

  • Key replacement cover

  • Windshield glass cover

  • Loss of personal baggage cover

  • Vehicle replacement cover

  • Roadside assistance

  • Spare car cover

  • Hybrid electric car cover, etc.

Customer Care

1860 258 0000 | 1800 568 9999 | care@royalsundaram.in 

6. Acko Car Insurance

With over 2 Lakh claims settled and a claim settlement ratio of 99.10% for motor own damage in FY 2023-24, Acko is one of the best motor insurance companies in India. Here is some additional information about Acko -

Premiums Starting from

Rs.2,094 per year

Network Garages

Over 2,000

Personal Accident Cover

Up to Rs.15 Lakh

Features & Benefits

  • Paperless procedure

  • Instant claim 

  • 24X7 support all year round

  • Covers accidents, rat bite damages, thefts, calamities, fire, etc.

Add-on Covers

  • 24X7 roadside assistance

  • No-claim bonus

  • Engine protection

  • Personal accident cover for owner/driver and passengers

  • Paid driver protection, etc.

Customer Care

18602662258 | ecare@acko.tech 

7. SBI General Car Insurance

SBI General Car Insurance is one of the top 10 most trusted motor insurance options in India. With a 98% claim settlement ratio FY 2022-23, here is all that you need to know about them -

Premiums Starting from

Rs.2,094 per year

Network Garages

Over 7,159

Personal Accident Cover 

Up to Rs.15 Lakh 

Features & Benefits

  • 16,625+ network hospitals

  • No-claim bonus

  • Up to Rs.2 Lakh accident insurance per passenger

  • Covers CNG/LPG bi-fuel kit

  • Covers loss or damage due to fire, self-ignition, accidental damage, explosion

  • Covers damage caused by natural disasters like lightning, earthquakes, hurricanes, cyclones, landslides, etc.

Customer Care

1800 102 1111 | customer.care@sbigeneral.in 

8. Kotak Mahindra General Car Insurance

Kotak Mahindra General Car Insurance has a claim settlement ratio of 93.56% for the financial year 2023-2024. Here is some more information to help you decide if you should consider them -

Premiums Starting from

Rs.2,094 per year

Network Garages

Over 4,200

Personal Accident Cover

Up to Rs.15 Lakh

Add-on Covers

  • Zero depreciation cover

  • 24X7 roadside assistance cover

  • Engine cover

  • Return to invoice cover

  • Consumables cover

Customer Care

1800 266 4545 | care@kotak.com 

9. Liberty Car Insurance

Liberty Car Insurance is one of the top 10 motor insurance companies in India. Some facts about them -

Premium Starts from

Rs.2,094 per year

Network Garages

Over 4,300

Personal Accident Cover

Up to Rs.15 Lakh

Add-on Covers

  • Depreciation and consumables cover

  • 24X7 roadside assistance cover

  • Passenger assistance cover

  • Key loss cover

  • Engine safe cover

  • Loss of personal belongings

  • Daily allowance

Customer Care

1800 266 5844 | care@libertyinsurance.in 

10. Reliance General Car Insurance

Reliance General Car Insurance is one of the best car insurance companies in India with a 100% claim settlement ratio in FY 2023-24.

Premiums Starting from

Rs.238 per month

Network Garages

Over 10,000

Personal Accident Cover

Up to Rs.15 Lakh

Trusted by

5 Crore+ customers

Features & Benefits

  • Up to 50% no-claim bonus

  • Quick claim survey within 48 hours

  • Up to 90% discount on online insurance prices

  • Own and third-party damage cover

Add-on Covers

  • 24X7 roadside assistance

  • Zero depreciation cover

  • Return to invoice cover

  • Engine protection cover

  • Key and tyre replacement cover 

  • EMI protection cover

  • Daily allowance cover

  • Tyre protection

  • Loss of personal belongings cover

  • Consumables cover

  • Electrical and non-electrical accessories cover

  • Emergency hotel accommodation

  • EV battery, charger, and motor cover 

Customer Care

7400422200​ (WhatsApp) | +91 22 48903009​ (Paid) | rgicl.services@relianceada.com 

Conclusion

With so many car insurance companies in India, it can be hard to decide on the one that suits your needs. Apart from insurance premium prices, seeing which company offers the add-on covers you require is important. Checking the number and location of network garages and hospitals is also beneficial.

The claim settlement ratio is also a good indicator of how good an insurance company is. Consider all factors and choose the best car insurance for your four-wheeled companion.

Moneyview also offers motor insurance for your two and four-wheeler, with premiums starting at just Rs.1.5 per day. Go to the Moneyview website or download the app for more information.

Top 10 Car Insurance Companies in India - Related FAQs

According to the claim settlement ratio, Reliance General Car Insurance, Acko, Royal Sundaram Car Insurance are among the top ones.
When you buy car insurance, you pay a premium against which you get financial protection for damages. Both damages to the vehicle, driver, and passengers are included depending on your insurance.
If the owner of the car is driving it at the time of the accident, they will be covered under the personal accident cover.

Yes, it is mandatory to get car insurance in India.

You can take a third-party or comprehensive insurance, depending on your need.

Was this information useful?