Fill the Below Form ⬇️
Buying car insurance is mandatory by law in India, but choosing the right insurer can save you money, ensure hassle-free claims, and provide better coverage. With so many options available, selecting the best car insurance company can be confusing.
This guide compares the top car insurance providers in India (2024) based on claim settlement ratio, customer service, add-on benefits, and affordability.
Top 5 Best Car Insurance Companies in India
1. ICICI Lombard
- Claim Settlement Ratio (CSR): 89.50% (2023)
- Network Garages: 6,500+ cashless garages
- Key Features:
- Quick online claims
- Zero depreciation cover
- Engine protection add-on
- 24/7 roadside assistance
- Best For: High claim settlement & digital convenience
2. HDFC ERGO
- Claim Settlement Ratio (CSR): 90.20%
- Network Garages: 10,000+ cashless garages
- Key Features:
- Instant policy issuance
- Invoice protection cover
- Personal belongings cover
- No-claim bonus protection
- Best For: Comprehensive coverage & fast claims
3. Bajaj Allianz
- Claim Settlement Ratio (CSR): 94.50%
- Network Garages: 4,000+ cashless garages
- Key Features:
- 1-hour claim settlement promise
- Key replacement cover
- Consumables cover
- Free medical assistance
- Best For: Quick claim settlement & add-ons
4. Tata AIG
- Claim Settlement Ratio (CSR): 88.30%
- Network Garages: 5,000+ cashless garages
- Key Features:
- Zero depreciation & return to invoice
- Emergency hotel expenses
- Roadside assistance
- NCB up to 50%
- Best For: Affordable premiums & good customer service
5. New India Assurance
- Claim Settlement Ratio (CSR): 92.50%
- Network Garages: 3,000+ cashless garages
- Key Features:
- Government-backed insurer
- Reliable claim process
- Personal accident cover
- Third-party liability coverage
- Best For: Trusted public sector insurer
How to Choose the Best Car Insurance?
1. Check Claim Settlement Ratio (CSR)
- A higher CSR (above 85%) means the company settles most claims without disputes.
2. Compare Premiums & Discounts
- Look for No-Claim Bonus (NCB), voluntary deductible discounts, and anti-theft device benefits.
3. Evaluate Add-On Covers
- Essential add-ons:
- Zero Depreciation (Full claim without depreciation deduction)
- Engine Protection (Covers hydrostatic lock damage)
- Roadside Assistance (24/7 help for breakdowns)
4. Check Cashless Garage Network
- More network garages = easier cashless repairs.
5. Read Customer Reviews
- Check Google, Trustpilot, and social media for genuine feedback.