When it comes to buying car insurance, there are so many insurers out there that it might get intimidating for a lot of us to pick the right insurer that suits our needs the best. Hence, in this article, we talk about the different car insurance companies out there and how you can pick the right insurer for you.
Here is a list of all the IRDAI-approved car insurance companies in India:
Car Insurance Company Name |
Number of Network Garages |
Claim Settlement Ratio |
ACKO General Insurance Ltd. |
3500+ |
96.27% |
Bajaj Allianz General Insurance Co. Ltd. |
4000 |
98.5% |
Cholamandalam MS General Insurance Co. Ltd. |
4636 |
96% |
Future Generali India Insurance Co. Ltd. |
3500 |
96.3% |
Go Digit General Insurance Ltd. |
3036 |
96% |
HDFC ERGO General Insurance Co. Ltd. |
8200 |
99% |
ICICI LOMBARD General Insurance Co. Ltd. |
5600 |
93.4% |
IFFCO TOKIO General Insurance Co. Ltd. |
4300 |
95.8% |
Kotak Mahindra General Insurance Co. Ltd. |
2327 |
98% |
Liberty General Insurance Ltd. |
4500 |
98% |
Magma HDI General Insurance Co. Ltd. |
4000 |
97.1% |
National Insurance Co. Ltd. |
3100 |
93% |
Navi General Insurance Ltd. |
1100 |
76% |
Raheja QBE General Insurance Co. Ltd. |
1000 |
92% |
Reliance General Insurance Co. Ltd. |
8200 |
98% |
Royal Sundaram General Insurance Co. Ltd. |
3300 |
98.6% |
SBI General Insurance Co. Ltd. |
16000 |
100% |
Shriram General Insurance Co. Ltd. |
2000 |
96% |
Tata AIG General Insurance Co. Ltd. |
7500 |
99% |
The New India Assurance Co. Ltd. |
3000 |
90% |
The Oriental Insurance Co. Ltd. |
3100 |
94% |
United India Insurance Co. Ltd. |
3100 |
95% |
Universal Sompo General Insurance Co. Ltd. |
3500 |
96% |
Zuno General Insurance Limited (Formerly Edelweiss General Insurance Co. Ltd.) |
1500 |
98% |
In the list, we have also mentioned their claim settlement ratio and the number of network garages they have, as these can be important criteria to keep in mind while choosing an insurer for yourself.
Choosing a car insurance company and the correct policy for your car can be difficult. Therefore, it is important to keep the following points in mind to choose the best car insurance company for yourself:
In India, three types of car insurance are available. Let us briefly discuss each one of them:
Wrapping Up!
To wrap it up, it is important to understand all three types of coverage provided and consider the pros and cons of each insurer to decide which one is best for you and meets your needs. Take sufficient time to go through different terminologies online and compare different options. Never hesitate in this decision and ensure you understand and have gone through the policy wordings thoroughly. You can easily buy insurance online or go to a broker who might recommend different insurance options.