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Best Car Insurance Companies in India 2021 (IRDAI Approved)

In 21st Century India, owning a car has moved beyond being a status symbol to an everyday necessity. Being owner of a car proves your financial independence, puts you in a refined league of your peers and wins you some much-needed brownie points with the family. But the joys of owning a car or any vehicle could be short-lived if say, your vehicle meets with an unfortunate and untimely accident, is stolen, is lost in a raging flood, or worse – if it turns up to be the cause of an accident that costs the life or property of a complete stranger.

Car Insurance Companies Car insurance is the best way of protecting yourself and your car. If you are a car owner, you must look for a comprehensive car insurance plan from the best car insurance company in India to avail maximum financial protection. Be it fire, theft, man-made/natural calamities, road accidents and more, a comprehensive car cover plan will protect you from third-party liability as well. In addition, it is mandatory under the Indian Motor Vehicles Act, 1988, to have a third party liability car insurance for every vehicle owner.

1. New India Car Insurance

New India Insurance Co. Ltd. was incorporated on 23rd July 1919; established by the House of Tata founder member, Sir Dorab Tata. New India Assurance is offering a wide range of effective and helpful motor insurance products that will cover all of your basic needs. It includes all those features that a Motor insurance plan should have. Under this plan, you will get two types of coverage, Liability and package coverage. Both will assist you in their ways.

Liability only policy. This covers third-party liability for bodily injury liability and/or death and property damage. Personal Accident cover for Owner-driver is also included. Package only policy. This cover loss or damage to the vehicle insured in addition to liability coverage.

Features and Benefits

Customer support team

Well, one of the best features of National Insurance is a well-trained customer service team which will always be there to clear all doubts and queries. It will also help the policyholder to make claims, apply for a policy or renew the same.

Discounts

Those people who are embers of the Automobile Association of India will be eligible for special discounts. Apart from this, policyholders can also take advantage of no claim bonus discount. Those who have anti-theft devices will also be eligible for an additional discount.

Hassle-Free Claim Settlement

Claims will be settled in a speedy manner without any hassles. The process of initiating a claim during an emergency situation is also very convenient.

2. TATA AIG Car Insurance

Tata Aig General Insurance Company Limited (Tata Aig General) is a joint venture between Tata Group and American International Group, Inc. (AIG). Tata AIG Motor Insurance plan takes into consideration the conventional risks as well as non-conventional risks associated with automobiles. It ensures that the policyholders are able to put their minds at rest and in case of emergencies get immediate assistance.

Features and Benefits

Comprehensive motor cover Comprehensive personal cover Comprehensive third-party cover Flexibility to choose from 12 additional risk covers Flexibility to choose from 12 additional risk covers Cashless settlements at networked garages Reimbursement claim settlement within one week Claim free policy periods accumulate no claims benefit Cover for on-road emergencies Vehicle repair cover due to an accident has six months validity The third party cover up to ₹7.5 lakhs Personal cover Driver and pinion cover Vehicle cover No pickup charges for personal/commercial car Salvage value is not deducted while calculating premiums for cover value Repair claim for glass/fiber/plastic/rubber parts does not reduce any claim benefits

Inclusion

The company provides vehicle cover for the following risks: Damage due to catching fire Damage due to an explosion Damage due to ignition Damage due to struck by lightning Theft of vehicle Damage due to riots/strikes Damage due to natural calamities like earthquake, floods, cyclone Damage due to accident from external causes Damage due to terrorist and other malicious acts Damage during transporting vehicle in another vehicle (waterways, roadways, airways, lifts). Damage due to landslide/road slide

3. Bajaj Allianz Car Insurance

When it comes to something as crucial as car insurance and car insurance renewal policy, Bajaj Allianz Car Insurance is trusted by millions. The company enables its policyholders to renew their car insurance quickly and conveniently.

Features and Benefits

Instant policy – Hassle-free instant paperless renewal 24/7 – claim assistance Drive Smart services – Mobile app to assist 24/7 Roadside Assistance Cashless claims at over 1500 preferred garages/workshops Towing facility is provided in case of an accident or a breakdown Get instant assistance on your claims and updates about your claim status through SMS alerts Enjoy hassle-free vehicle inspection in the 1500 preferred workshops Covers loss or damage caused by natural calamities – fire, explosion, earthquake, storm, etc. Covers loss or damage caused due to man-made reasons – theft, riot, burglary, damage in transit, etc. Accident Coverage for the individual owner/driver of the vehicle Protection from legal liability in case of death or property damage of a third-party. To make things easier, you can subscribe to the renewal reminder feature on Bajaj Allianz website. Enter your name, contact details and renewal date. A reminder will be sent to renew your car insurance policy. You cannot enjoy the benefits of having an insured car after your car insurance term expires. Hence, renewing your car insurance (once the initial term expires) is very important.

Inclusion

Bajaj Allianz car Insurance offers the below coverage:

1.Own Damage

This policy covers any damage or loss the owner’s car undergoes due to any of the following things: Fire, explosion, self-ignition or lightning Burglary or Theft Riot & Strike Natural calamities like flood, hurricane, storm, cyclone, earthquake, etc Terrorist activity While in transit by road, rail, lift, elevator or air Landslide or rock-side

2. Third Party or Liability

Bajaj Allianz Private Car Insurance Policy covers any injury or property damages incurred to the third-party due to the insured car

3. Personal Accident Cover

Bajaj Allianz will pay a sum Insured of ₹2 lakhs to the owner-driver of the insured vehicle in case of permanent total disability or to the beneficiary in case of accidental death.

Optional Covers:

Passenger Personal Accident Cover: A Sum Insured of ₹2,00,000 for each of the occupants can be bought under passenger personal accident cover Legal Liability for Paid driver: Liability cover for paid driver with a premium of 50 ₹/annually can be bought.