More than anything else, you require securing car insurance to save yourself legally to drive.
On the other hand, it is also obligatory by law to have a valid insurance policy for your vehicle. Another significant thing is that it covers against monetary obligation caused by damage to your wheels due to an accident or any natural calamity. Thus, selecting the appropriate insurance policy can be a bit complex, exceptionally if someone is not apt at going through the ‘fine reprint’.
Insurance companies in India offer plenty of car insurance policies that provide the particular requirements of the customers, but picking the right plan can be challenging. In India, insurance companies give various plans with numerous features, and they come at multiple price points. Therefore, it is essential that you do your homework well before choosing the best and the most affordable one to suit your needs.
Before you begin searching for the best and the cheapest car insurance company, evaluate your wants and know the kind of policy you need. In India, there are two kinds of car insurance plans– Comprehensive and third-party insurance.
Third-party insurance is an obligatory essential by law and covers only losses to the third party. You do not get coverage for the losses to your car under third party insurance. While a comprehensive insurance plan covers both accidents to your car and third party liability.
Moreover, below, you will get more information about finding the best and the cheapest deal on your auto insurance in India for 2021. In addition, to make your work a little bit peaceful, the best insurers are being updated on this top ten list of cheapest car insurers in ascending order.
- HDFC Ergo Insurance Company (Starting from- Rs. 1972)
A general insurance firm that celebrates a joint venture within HDFC Ltd and Ergo International AG. The firm grants a wide range of insurance like motor insurance, home insurance, travel insurance, etc. That includes both business and personal insurance needs. They have an expanding chain of networks with 108 branches situated over 91 cities in India, along with an employee base of around 2000 who help us with the best insurance offers and plans. Besides this, they have driven a mobile app that assists in active communication, making it comfortable for people to reach them.
Some of the key features by HDFC Ergo are listed below-
- Continuous support to their customers every day of the week, even when not needed!
- They offer paperless or simply be called the zero documentation proceed when purchasing car insurance
- Equips cashless claim service at above 4,800 approved garages
- United India Insurance Company (Starting from- Rs. 1972)
Being one of the leading general insurance companies, they have begun their operations in February 1938. The firm has over 1300 offices across India while contributing quality insurance services. Ever since their start, they have also won numerous awards including Skoch Award for ICT-related modification for M-Power.
Hence, they are one of the esteemed insurance firms with a client base of over one Crore policyholders. In addition, their car insurance plan has some of the below-listed key features:
- They offer two kinds of Car insurance plan including package and liability plan
- The simple and hassle-free documentation process
- Plenty of discounts along with No-Claim Bonus are offered
- Bharti AXA General Insurance – (Starting from- Rs. 2072)
It has a broad customer base with 79 offices settled across India and has issued near to 9.8 million policies. This firm is in a partnership with AXA and Bharti Enterprises and provides innovative insurance solutions with 24X7 claims support to their buyers. It operates 51 percent of the shares in the insurance firm and is an extremely prosperous insurance one.
Therefore, here we have some of the Benefits of shopping from Bharti AXA-
- Lately, they launched the long-term two-wheeler plan, where you can get it for two or more years rather than just once.
- You can get an add-on also for little extra cash such as No-Claim Bonus Protector, Depreciation cover, etc.
- Comprehensive cashless garage convenience with over 2,500 registered garages.
- Quick and Hassle-free settlements.
- Future Generali India Insurance (Starting from- Rs. 2072)
A private insurer, Future Generali was founded in 2007 celebrating a joint venture within Assicurazioni General and Future Group. The insurer listed having more than 12 lakh consumers in 2017 and since their conception have achieved over 1.80 lakh claims. Being in over 125 places across the country, they have over 6,000 insurance done and more than 2,000 business buyers that they service actively. In addition, Future Generali India Insurance extends a surplus of insurance products including one of the affordable and budget free car insurance.
Some of the key advantages of availing of auto insurance from Future Generali India Insurance are listed below:
- Prompt claim settlements as you can instantly buy your insurance online.
- Consistent insurance plan renewal reminders and round-the-clock client support
- You can easily claim your finalizations within just 7 days.
- Additional premium benefits you in enjoying impressive features.
- 24/7 assistance following a natural disaster or accident.
- National Insurance Company (Starting from- Rs. 2072)
A state-owned insurance company, National Insurance Company was founded in 1906, and headquartered in the city of Kolkata. Car owners in the country can pick to get a third-party liability insurance policy or a full car insurance policy from this state-owned insurance company.
Hence, listed below are the key points and gains of car insurance policies proposed by the Company:
- Policyholders can purchase or renovate their third-party liability car insurance policy online hassle-free.
- The claim settlement process is really peaceful and hassle-free.
- 24 hours of seven-customer care service is available.
- They provide a choice between a comprehensive car insurance policy and a third-party insurance policy.
- Commission for the third party up to Rs.7.5 lakh according to the Insurance Regulatory and Development Authority of India.
- Kotak Mahindra Car Insurance (Starting from- Rs. 2072)
Incorporated in December 2014, Kotak Mahindra is a successful general insurance company and did you know that the Insurance provided is a 100 percent subsidiary? Well, the bank is a part of the Kotak Mahindra Group, and currently, there are a total of 232 offices. The company claim that if you insure your car with a Kotak car insurance policy, you are shielded from all ends in case if you hit the highways.
Following are some of the benefits of Kotak Car Insurance offered-
- A comprehensive network of around more than 1,300 garages
- 24×7 emergency aid is provided
- Digitally equipped insurance resolutions offered
- Enables policyholders to obtain extensive claims
- Hassle-free and swift claim settlement are warranted.
- Tata AIG Car Insurance (Starting from- Rs. 2898)
It is a leading general insurance firm, which is a joint venture between the American International Group (AIG) and Tata Group of companies. Being established in 2000, it grants a variety of general insurance services, along with both commercial general insurance and retail plans. Whether it is motor, fire, or health insurance, etc. The firm has all the resolutions.
Let’s understand the different benefits and features of Tata AIG’s car insurance plans –
- As they offer varied car insurance plans, thus you can opt for one year or even long-term coverage accordingly
- Both liability, as well as comprehensive coverage, is granted by the company
- A variety of add-ons are provided with car insurance plans in order to customize your coverage
- The company also check for the round-the-clock claim aid service
- National Insurance Company (Starting from- Rs. 3144)
It is a well-known state-owned general insurance company, established in 1906. Headquartered in Kolkata, they deal with motor insurance, personal insurance, health insurance, etc. Vehicle owners can blindly try to shop for a comprehensive car insurance policy or a third-party liability insurance policy.
Let’s discuss some of the listed benefits and key features of car insurance policies being offered-
- Policyholders can purchase or renew their third-party liability car insurance policy on the website of the insurer online very promptly.
- The trouble-free claim settlement process is provided.
- Perpetual customer care service.
- You can choose between a comprehensive car insurance policy and the third-party insurance policy.
- Reimbursement for the third party up to Rs.7.5 lakh is provided.
- Bajaj Allianz Company (Starting from- Rs. 3326)
Bajaj Allianz Company started its operations in 2001 in over 200 cities across India. The firm feeds to the individual insurance requirements of customers. They have also developed technologically exceptional platforms such as digital and mobile applications to interest the public. They take exceptional pride in producing high benefits and utility to their consumers. They have also developed technologically exceptional platforms such as digital and mobile applications to interest the public. They take exceptional pride in producing high benefits and utility to their consumers.
They offer a number of advantages apart from the basic car insurance plans like:
- 24×7 Assistance facility
- 50 percent of No Claim Bonus (NCB) is transferred from any other auto insurer
- Comprehensive cashless garage network chain
- The choice of availing monitoring plans through their distinctive drivesmart Telematics Service
- As one of the rider options, they also offer zero depreciation cover as well
- Oriental Insurance Company (Starting from- Rs. 3412)
The Oriental Insurance Company began its services in September 1947 at Bombay and is governed by the Central Government of India. Being one of the miners in the insurance sector, they have a great amount of consumer base. The insurance services granted are catering to the essentials of both the urban and rural populations.
Adding to it, you might be aware that they even propose insurance for private cars singly. Along with it, the private car package also extends the motor insurance interests with four unique passenger options.
Why to choose them?
As we all know, how much a third party car insurance is necessary as per the Indian Motor Vehicles Act for all cars. However, it just gives third-party liability refuge and does not cover any coverage for the vehicle’s private damage. While, with a general policy, you only stay shielded financially with your own car’s damage.
Therefore, shopping for the best and the cheapest car insurance policy is not as troublesome as it may look. Following the mentioned top ten list above can tremendously help you pick an accurate plan.
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