Best Car Insurance Policy in India

Just like life insurance, it is important to get motor insurance for any vehicle owner in India. Among all the motor insurance, car insurance can be regarded as one of the important ones. Driving a car of your own in India is a luxury in itself, however, it also comes with tons of risk factors, and one of them is damage to your car. Now just think about all the hard work you have put in to get a brand new car, working late at the office, pulling double shifts to make some extra money, just to see it all go into a vein because you did get your car insured. It is disturbing and scary, isn’t it? Instead of worrying, you need the best car insurance policy in India. It eliminates risks and puts your mind at ease. If you are still not convinced why you should get your car insured then we have a few more reasons that will change your mind.

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Why Get Your Car Insured?

  • Payment for damages

    If you own a car, then you most certainly know these automobiles aren’t coming cheap. Along with the car, their repair and spare parts come expensive too. But, if you have car insurance, you won’t have the burden of cost and repair charges on your shoulders.

  • Hospital Bills

    Not everyone is lucky enough to walk away with a few scratches and bruises in a car accident. The majority of car accidents result in broken bones and serious injuries. Other than the car being crashed, hospitalization is another expensive affair that can empty your bank account with all the medical tests, medicines, hospital charges, etc. But if you have car insurance, you don’t have to worry even for a second because it will cover all the charges.

  • Protection from liability

    Getting the best car insurance policy in India will not only protect you but also others. If you have been in a car accident injuring another driver or pedestrian or other property, the right car insurance will protect you from paying others bills. The car insurance will take care of others property damage, reducing your liability.

  • Pay Less Premium For Online Car Insurance

    Buying car insurance online can be fruitful, as you may get a cheaper policy with a lower premium rate. You can also save a lot of time in renewing the policy which is usually wasted in travelling to the offices. It also saves you tons of paperwork and eliminates the broker who acts as an intermediator.

  • Compensation After Demise

    The death of a person is a loss that can not be covered by anything in the world. But a demise in a car accident not only brings a lot of pain but other troubles as well. No amount can compensate for the death, but a car insurance policy can help pay for expenses after an uncertain event.

Types of Best Car Insurances Policy In India

In India, there are usually three types of car insurance policies available and Hellopolicy is here to tell you all about them. And these insurance policies mostly cover everything.

Best car insurance policy in India
  1. Comprehensive Car Insurance

    Comprehensive car insurance is the best car insurance policy in India. It is a bundle of coverages and compensations as it not only covers the liability to the third party that you are legally bound to pay, but it also covers own-damages incurred in an uncertain event. Among all the three types of insurance, it will provide you with the maximum coverage against any unforeseen event such as fire, accidents, collision, theft, vandalism, natural disaster or any man-made disasters.

    A comprehensive car insurance policy can be further extended with add-ons such as engine protector, accessories cover, medical bills, zero depreciation cover, etc. This is the most popular insurance policy amongst car owners, as it covers almost everything from end-to-end.

  2. Third-Party Car Insurance

    According to Indian Motor Tariff, one who owns the car must have third-party car insurance. This is because this insurance policy provides coverage for all the legal liabilities that occurred to a third-party due to the involvement of your car in an accident. This policy will compensate for the death, bodily injury, disability or any property damage to the third-party due to the uncertainty. This way, you will not have any legal financial liability against the third-party.

    However, this insurance policy does not provide compensation for the damages that occurred to the insured car or its owner/driver. Under the Motor Vehicle Act, 1988, all the third-party car insurance prices are mandated.

  3. Standalone Own-Damage Car Insurance

    As the name suggests, standalone own-damage car insurance provides protection and compensation for the damages sustained by the insured car only. It covers uncontrollable damages incurred during an unfortunate event such as theft, crash, fire, natural calamities, man made disasters, etc. There is no provision for third-party damage.

    However, you can buy this insurance policy if only you already have a third-party car insurance policy for legal requirements. This policy also allows you to buy third-party car insurance from one company and standalone own-damage car insurance from another company.

Companies That Provide The Best Car Insurance Policy In India

Bajaj Allianz Car Insurance

Bajaj Allianz is one of the top general insurance companies in India and it was also awarded by Money Today as the Best Motor Insurance, 2020. It provides the best car insurance policy in India and offers plans that are affordable and flexible which are customizable as per the choice of the customer. Along with the insurance policy, it offers personal accident cover for ?15 lakh for the owner/driver of the car. Further, you can choose to cover accessories, CNG kit, NCB discount, and you can also opt for personal accident cover for co-passenger and paid driver.

Best four wheeler insurance policy in India
  • Features
    • It offers Zero depreciation cover
    • Online policy insurance and its renewal is available
    • Availability of spot assistance at all time
    • It offers instant claim settlement and self-vehicle survey
    • It provides you with a voluntary excess discount
    • It will also offer you an anti-theft device installation discount
    • And last but not the least, a discount for approved automobile association membership
  • Add-Ons Cover
    • It offers Zero depreciation cover
    • Online policy insurance and its renewal is available
    • Availability of spot assistance at all time
    • It offers instant claim settlement and self-vehicle survey
    • It provides you with a voluntary excess discount
    • It will also offer you an anti-theft device installation discount
    • And last but not the least, a discount for approved automobile association membership

Bharti AXA Car Insurance

Bharti AXA General Insurance Co. Ltd. is another top company that provides the best car insurance policy in India. It offers all three types of car insurance, i.e. Comprehensive car insurance, third-party car insurance, and standalone own-damage car insurance. Along with cover charges for unpredictable events, it also offers personal accident cover for ?15 lakh to the owner/driver of the car.

This company is India’s one of the biggest cashless garage networks. Its flexibility allows you to select the coverage for legal liabilities to be paid to the driver and the damaged accessories.

Features

  • Online policy insurance and its renewal is available
  • Claim assistance is available at all time
  • Cashless claim settlement is available at network garages

Add-Ons Cover

  • Depreciation cover available
  • Consumable expense available
  • Roadside assistance
  • Locks and keys replacement
  • Engine protector and gearbox cover
  • Ambulance charges
  • Hospital bills
  • Medical bills
  • Personal accident cover for co-passenger is available
  • Cover for the invoice price

Cholamandalam Car Insurance

Cholamandalam General Insurance Co. Ltd. is one of the well-known insurance providing companies that specialize in car insurance. It provides three types of insurance policies against unpredictable events. It also provides ?15 lakh personal accident cover to the owner/driver of the car. Along with that it also allows you to opt for ?2 lakh personal accident cover for the passengers and also reimburses towing charges up to ?3000.

Cholamandalam provides the best car insurance policy in India because it comes with tons of features and add-ons cover.

Features

  • The name is digital so no doubt for online easy online insurance purchase
  • Customer support available 24x7
  • Provides doorstep pickup and repair facilities
  • No claim bonuses
  • Cashless repairs
  • Self-inspection with smartphones is available
  • Process for claims is super fast

Add-Ons Cover

  • Zero Depreciation cover
  • Assistance for breakdown
  • Cover for passengers
  • Consumable expense
  • Cover for return to invoice
  • Cover for tyre protection
  • Engine protector and gearbox cover

Kotak Mahindra Car Insurance

Amongst the most popular car insurance companies in India is Kotak Mahindra general insurance Co. Ltd. It provides your car with all-round protection. Along with legal liabilities, it also offers coverage for bi-fuel systems and electrical and non-electrical accessories. It provides 2 types of car insurances, Third-party car insurance and comprehensive car insurance.

Features

  • No claim bonuses
  • Provides discount for recognised automobile association membership
  • Provides cashless services at network garages
  • Available voluntary deduction discount

Add-Ons Cover

  • Provides roadside assistance
  • Consumable cover
  • Depreciation cover
  • Return to invoice
  • Engine protection cover
  • Tyre protection cover
  • Cover for loss of personal belongings
  • Daily car allowance
  • NCB protection
  • Keys and lock replacements

National Car Insurance

National Car Insurance is another leading insurance company that specialises in car insurance policies. It also holds the title of the most claim settlement ratio in car insurance making it the best car insurance policy in India. Due to any uncertain events such as natural calamity, man made disasters, death, etc due to the involvement of your car, it provides third-party protection. Apart from that it also covers charges for towing up to ?1500. With the best possible insurance policies, it allows the customer to choose from its two best plans:

  1. Annual liability-only policy plan
  2. Annual package policy plan

Features

  • Zero claim discounts
  • Provides towing assistance
  • Easy renewal policy

Add-Ons Cover

  • Nil depreciation
  • Invoice protection cover
  • Engine protection cover

New India Assurance Car Insurance

New India Assurance Car Insurance is one of the best in business, inclusive of foreign operations. It is a renowned insurance provider in the country which not only provides legal liabilities cover policy, but also provides package policy. Similar to other insurance companies, it also provides coverage for theft, accidents, natural disaster, man made disaster, cover for third-party damage, accident of owner/driver of the car, etc, and provides cover charge up to ?1500.

Features

  • Cashless claim at approved network garages
  • Towing assistance is available
  • No claim discounts

Add-Ons Cover

  • Cover for loss of accessories
  • Offers legal liabilities cover for employees
  • Personal accident cover for paid driver and co-passengers is available

Why Choose Hellopolicy?

We at Hellopolicy provide you with a complete juxtaposition of multiple car insurance policies. We not only tell you the type of insurance the company provides, but we also help you in understanding which is the best car insurance policy in India for you. We also help you out with what type of features the company has and what type of add-ons cover they provide. Apart from all the benefits, the biggest and the main question is the coverage against damage. We, at Hellopolicy, will provide you with thorough knowledge and satisfactory information about all sorts of insurance policies including the coverage, claim and renewal policy. Get your car insured and do something today that your future self will thank you for.