5 Leading Car Insurance Companies in 2021

The new year is the time when people make resolutions and a wishlist to fulfill in next year. So if buying a car is in your wishlist for 2021, then it is essential to know about the trending cars in the market, insurance and the leading insurance providers in India. Buying car insurance is not a choice but a legal obligation with which every Indian car driver or owner should be compliant. Under the Indian Motor Act, it is compulsory for every car owner to have valid third-party car insurance or comprehensive insurance.

While many car insurance providers give basic car insurance plans, it is advisable by mymoneykarma experts to choose insurance that not only covers the damages made to your vehicle or a third-party but also includes the loss or damage caused to your car by natural or human-made calamities. Most of the car insurance plans in the market can be customized to suit the requirements of customers. Choose the add-ons in the insurance cover wisely and make sure that the wheels of your car have the best protection. While you are researching the best cars available in the market, we have listed the top 5 car insurance companies of India in 2018. Following are the most trustworthy car insurance providers:

• ICICI Lombard GIC Ltd:
  ICICI Bank Limited amalgamated with the Fairfax Financial Holdings Limited and launched ICICI Lombard GIC Ltd. With over 3,500 network garages across the country, ICICI car insurance policy covers the damage to the vehicle against the natural disasters, loss or damage to the car with the involvement of humans, personal accident cover, and third-party legal liability. From the emergency battery start service, owing to minor repairs and fixing a flat tire, ICICI Lombard GIC Ltd covers all. The company is also recognized for their simple, hassle-free claim procedure.

• HDFC ERGO General Insurance Company Ltd:
  The joint-venture of HDFC Ltd, India’s one of the leading financial institution and ERGO International AG  constituted HDFC ERGO General Insurance Company Ltd. They offer private car insurance, provides all kind of coverage whether the person is looking for motor insurance, health insurance, travel insurance, two-wheeler insurance, liability-only policy, and commercial vehicles insurance. Being the customer of this company, one can enjoy the cashless claim service at more than 3,400 authorized garages in the country. Some of the advantages of buying car insurance from this company include 24 hours approval time, online purchase option, 24/7 customer service for any queries on motor insurance, and a fair claim settlement process. The motor insurance policy of the company covers own damage to the vehicle through personal accident covers and also the damage caused by external means such as fire, terrorism, natural calamities, human-made calamities, and the third-party legal liability.

• United India Insurance Company Ltd:
  United India Insurance Company Ltd is a public insurance company, owned by the Government of India. It was incorporated in the year 1938. The company offers insurance for personal cars, two-wheelers, and commercial vehicles. Customers have the privilege to customize the plans as per their requirements. The company is renowned for treating its customers well, and their discount policy is the proof. Customers can also claim, 'No Claim Bonus' from 20% to 50% depending on the availability of claim-free years in the policy. The company also provide automobile association membership discount, discount for installation of anti-theft devices, and discount on the use of vehicles within the area covered under the insurance.

• The Oriental Insurance Company Ltd:
  The company was established in the year 1947. The company offers car insurance which covers accidental damages, third-party liabilities and comes with various add-ons. With one-year of the insurance coverage period, the company also gives extra coverages like zero depreciation cover, various car benefits, and perks of free emergency services. One can know more about their car insurance policy by visiting the company's website.  The customers can also buy or renew the car insurance policy online.

• Tata AIG General Insurance Company Limited:
  In 2000, Tata Group and American International Group (AIG) formed a joint-venture as Tata AIG General Insurance Company Limited. The company provides various services such as health insurance, travel insurance, and motor insurance. The car insurance offered by Tata AIG is famous for the enhanced protection, which it provides through the well-designed add-on covers, cashless claims or direct settlement process at garages, no claim bonus, and roadside assistance. The customers can choose from 12 unique add-on covers offered by Tata AIG to personalize their car insurance plan as per their requirements.

Let 2021 be the year when you select the best car insurance for your dream car. Get the comprehensive car insurance plan and stay secure.

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