Best Car Insurance Companies In India: Under the Indian Motor Vehicles Act, it is mandatory for a car owner to have a valid car insurance. Driving without a valid car insurance is an offence and can attract severe penalties and can even lead to a suspension of your driving license. There are several reasons why getting a car insurance has been made mandatory in India. Here’s a quick look at some of them.
Importance of car insurance
1. It covers damages to your car
Repairing a damaged car can drain your finances quickly. Whether the damage to your car was a result of your own negligence or due to a third-party, a car insurance can help you pay for the repairs.
2. It covers third-party liabilities
If you get involved in an accident, a car insurance can help you tide over third-party liabilities and other legal ramifications. For instance, if an accident caused by you directly leads to property damage or injury of a third party, a car insurance can compensate for the injuries caused as well as for restoring the property to its erstwhile state.
3. It provides financial compensation to your family in the event of your death
If the car accident that you get into leads to your demise, car insurance can help your beneficiaries financially by providing them with a death benefit. This way, you can ensure that your family leads a comfortable life even when you’re not around.
4. It covers hospitalization expenses in the event of an accident
Not all accidents lead to death. In some accidents, you might escape with minor or non-fatal injuries. In such cases, a car insurance plan can come to your rescue. It can provide cover for all your treatment related expenses, hospitalization expenses, and cost of transportation as well.
Shopping for car insurance can be a confusing affair. But not with Elephant Insurance. Thanks to our wide-range of insurance partners, getting a car insurance plan that’s customized according to your needs is now easier than ever. By purchasing a car insurance through Elephant Insurance, you also get to enjoy an automatic home insurance plan up to Rs. 50 lakhs! That’s not all though. We also offer amazing deals at mouthwatering prices on our car insurance products.
List Of Best Car Insurance Companies In India
• Tata AIG General Insurance Company is one of the best car insurance companies in India.
• HDFC Ergo General Insurance Company is another best car insurance companies in India.
• Acko General Insurance Company is another best car insurance companies in India.
• Reliance General Insurance Company is another best car insurance companies in India.
• ICICI Lombard General Insurance Company is another best car insurance companies in India.
If you want the best car insurance companies in India, you will have to go beyond the brand. It can be best for you only if it suits your needs. Find out the maximum Insured Declared Value (IDV) amount you can claim if your vehicle is lost or stolen.
A few aspects to be considered while buying car insurance policy
High claim settlement ratio:
Insurers that have a record of settling a high percentage of claims during the year are ideal for policyholders. It means they are reliable and that your claim will be settled in a timely manner when needed.
There can be other features you could be looking for. For example, the Roadside Assistance feature is quite useful if you and your car are stranded on a highway. Some other add-ons include zero depreciation cover, NCB protector, tyre replacement, engine protection, etc.
Satisfactory after-sales service
Additionally, should you have any questions regarding your vehicle and the insurance, prompt and supportive customer service is expected. If they provide you with the solutions you need, then this could be another parameter for selection.
It is alright to choose a policy with a higher premium, as long as it meets all your requirements. The benefits that a good insurance plan provides can go a long way in taking care of your car.
A Good Car Insurance Plan
A good car insurance plan is a basic need for you and your vehicle. With the car insurance policy online, you can easily insure your car against the damages which can occur due to accident, theft, fire, natural calamities, etc, within 2 minutes. If you are thinking of buying a car insurance policy online, check out these benefits:
- No More Agents Interference: When you buy a car insurance plan online there will be no agent’s interference. You can easily visit the website and peacefully can choose your car insurance plan online by comparing a variety of car plans.
- Zero Paperwork: One of the best things people like about buying online car insurance is that there is no paperwork required. The online mode allows you to fill up the forms online and it is much hassle-free too. Whatever the documents are required, you just need to upload them online. It is that simple.
- Convenient and Save Time: It is very convenient to buy a car insurance policy online as compared to offline mode. Also, it allows you to save a lot of time. By sitting in your comfort zone, you can book a good car insurance plan.
- Online Premium Payment Facility: Buying a car insurance plan comes with cashless facilities and you can conveniently make the payment of your premium online through online modes like a credit card, debit card, and also internet banking.
- Easy to Compare: It is really easy to compare car insurance plans online. Online aggregators allow you to compare plans with respect to premium and coverage and you can choose your ideal insurance plan.
What is to be covered under the Motor Insurance Plan:
- Riots and Strikes – Curfews.
- Fire and Burglary.
- Flood, Thunderstorm, Cyclone.
What is not covered under the Motor Insurance Plan:
- If the driver is under the influence of drugs and abuse.
- If the vehicle is being used for illegal activities.
- If you are not having a valid driving license.
- Any loss or damage happened outside India.
Let’s Wind Up!
So, to conclude you cannot tell which is the best car insurance companies in india as it depends on different factors mentioned above. You can choose a car insurance plan basis on these factors. For more assistance, you can get in touch with Policybazaar.