According to Indian law, you must have auto insurance. However, you must choose which car insurance is best in India before you can insure your car. Which auto insurance is better in India depends on various parameters from assessing the best car insurance claim settlement ratio, to ensuring excellent customer service and comprehensive coverage.
Top 10 car insurance companies in India prioritize digitalization to ensure hassle-free services. We have put up a list of the top 10 car insurance companies in India that provide the best car insurance claim settlement ratio and included other helpful information to assist you in selecting the best policy so you can make an informed choice.
Top 10 Car Insurance Companies in India
Still unsure about which car insurance is best in India? If so, the following list of 10 non-life insurers that have been approved by the IRDAI and provide the best insurance in India is for you. The list below also provides details on the top 10 car insurance claim settlement ratio.
| Top 10 Car Insurance Companies in India | Top 10 car insurance claim settlement ratio | Network Garages |
| HDFC ERGO Car Insurance | 88.22% | 7700+ |
| Universal Sompo | 90.72% | 3500+ |
| Future Generali | 94.29% | 3500+ |
| Raheja QBE | 92.63% | 1300+ |
| Go Digit | 90.72% | Repair Anywhere |
| IFFCO Tokio | 89.09% | 4300+ |
| Liberty | 90.10% | 4500+ |
| ICICI Lombard | 85.45% | 12000+ |
| SBI | 90.15% | 16000+ |
| Royal Sundaram | 91.56% | 3300+ |
HDFC ERGO Car Insurance
HDFC ERGO Car Insurance is one of the best car insurance companies in India. Every driver’s needs are taken into account when creating their programs with the best car insurance claim settlement ratio. In the event of damage, you can obtain comprehensive coverage for both your own vehicle and other vehicles. Additionally, it provides added features like engine protection, full value coverage without depreciation, etc.
- Founded In: 2002
- Claim Settlement Ratio: 88.22%
- Network Garages: 8200
Types of Settlements for Auto Insurance Claims
There are two methods to resolve a claim on auto insurance:
Cashless Claim
You begin a cashless claim settlement process if you have your vehicle fixed at a garage that has been approved by the insurance. As the name implies, the entire claim procedure under this kind of claim is cashless, meaning that the policyholder does not have to give any cash to the insurer-approved garage to have their vehicle repaired. Depending on the size of the claim, the insurer pays the garage directly. Only the mandatory and optional deductibles, if chosen at the time of insurance purchase, are the policyholder’s responsibility.
To find out which auto insurance is better in India, you need to check if the company provides a cashless claim facility.
Reimbursement Claim
You go through a reimbursement claim settlement process when you get your vehicle fixed at a shop or garage that is not part of the insurer’s approved network. In this procedure, the policyholder pays for the repairs at the garage of his or her choosing and receives reimbursement from the insurer later, contingent on the amount of the claim. After deducting the applicable deductibles, both mandatory and optional (if chosen), the insurer pays the policyholder the full claim amount.
Different types of Covers Available in Car Insurance for Accidents in India
| Type of Car Insurance Cover | Who is Covered | Type of Cover | Compensation Limit |
| Accident Cover | Third-Party | Third-Party Insurance | No Limit |
| Personal Accident Cover | Owner-Driver | Comprehensive Car Insurance and Third Party Insurance | Rs. 7.5 lakh |
| Passenger Accident Cover | Those present in the car at the time of a mishap | Available as an add-on cover | Depends on the policy |
Advantages of Purchasing Auto Insurance from BIR Credit Solutions
The following are some reasons for selecting BIR Credit Solutions as your provider for auto insurance:
- Digital Process: You can conveniently purchase auto insurance coverage from the comfort of your home when you decide to work with BIR Credit Solutions. You can purchase the policy whenever it’s convenient for you, without having to go to the insurer’s office.
- Fast Claim Settlement: BIR Credit Solutions offers the best car insurance claim settlement ratio. Your auto insurance claim will be resolved quickly if you simply notify the insurer of the damage and upload a few supporting papers.
- 24/7 Customer Service: BIR Solutions offers 24/7 customer service. If you have any questions, you can contact BIR’s customer service department at any time.
Final Verdict
When searching for which auto insurance is better in India, keep in mind that the company you choose ranks among the top 10 car insurance claim settlement ratio and best suits your needs and priorities. You will have a positive experience if you do your research, make wise decisions, and communicate with your insurance company. You can safeguard your vehicle and ensure your peace of mind when driving in India by obtaining the appropriate insurance.
