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Top 10 Motor Insurance Companies 2018

Motor insurance policy is a legal obligation. While its only mandatory to have a third party insurance cover for your vehicle, its strongly recommended to opt for a comprehensive insurance policy . Top-10 motor insurance companies that are bound to be an influential presence, and richly deserving of your attention.

There are three types of Motor Insurance –

  • Private Car Insurance
  • Two Wheeler Insurance
  • Commercial Vehicle Insurance

The public sector insurers have always enjoyed the customer’s preference over private sector insurers. Though, the pattern is bending in favour of private insurers since the last few years.

Bajaj Allianz General Insurance Co. Ltd.


Among the private insurance players in Indian insurance domain, Bajaj Allianz is one of the largest general insurance companies in the country.

A large number of industry experts reveal that Bajaj Allianz Auto Insurance leads all the auto insurance players in terms of customer satisfaction, cashless claim settlement and features rich policies. The brand is also widely recognized as one of the most customer friendly insurance companies in India.

Why it rocks?

  • Doorstep surveyor facility
  • 24X7 Towing assistance
  • Online purchase on EMIs
  • Instant SMS Updates on Claims
  • Cashless settlement at 1500+ network garages

Tata AIG General Insurance Co. Ltd.Tata-AIG

Tata AIG General Insurance was incepted in 2011. Even being a comparatively younger company, TATA AIG managed to win over a major fraction of motor insurance market owing to its robust channels of distribution and hassle-free claims.

Last year, the brand bagged reputed awards for being the best employer and deployment of mobile application in insurance.

Why it rocks?

  • Free car pick up
  • Warranty on repairs
  • Cashless settlement at network garages
  • Claim settlement in 7 days
  • Unique add-ons

The Oriental Insurance Co. Ltd.Oriental-Insurance

Owned by the Central Government, Oriental Insurance Company is one of the best companies to get a motor insurance. The brand boasts of winning the most reputed awards in the industry. The latest ones worth mentioning here are – ‘best public general insurance award’ and ‘best bank and financial institution award’. Oriental is one of the few insurance companies in India to get the iAAA rating by ICRA, indicating its strong financial framework.

Why it rocks?

  • One of the most reliable names in motor insurance
  • High claim settlement ratio
  • Fast claim settlement
  • Valuable add-ons

The New India Assurance Co. Ltd.New-India-Assurance-Co-Ltd

New India is wholly owned by the government of India. Backed up by a strong capital, infrastructure and human resource, auto insurance company in India. The brand has embarked an international presence and is well known for being a pioneer in introducing innovative insurance products.

It has been rated A- (Excellent) by A.M.Best Co., becoming the only Indian insurance company to be rated by an international rating agency.

Why it rocks?

  • Claim decision taken within 3 days of application
  • Surveyor appointed within 48 hours of claim intimation
  • Claim payment made within 3 days of discharge voucher receipt
  • Grievance acknowledged within 3 days of receipt
  • Grievance resolved within 15 days of receipt

HDFC ERGO General Insurance Co. LtdHDFC-Ergo

Bolstered by a robust channel of distribution and customer oriented approach, HDFC is the top notch brand for getting a motor insurance. HDFC boasts of having one of the highest claim settlement ratios among private motor insurers. HDFC ERGO is ISO 9001:2008 certified for its operations and claim processes and has been rated iAAA by ICRA. It was recognized as the best general insurance company in India by IAIR in 2013.

Why it rocks?

  • Age and profession discount
  • Zero documentation
  • Fast claim settlement
  • Cashless settlement at 1600+ network garages

Dedicated customer support team.

National Insurance Company Ltd. (NIC)

This state owned general insurance company is a pioneer of car insurance in India. Amongst the various motor insurance companies of India, National Insurance Company enjoys a wide reaching appeal and an enviable track record in terms of products offered and customer support rendered. The company boasts of over 1000 offices and 16,000+ employees and agents across India and Nepal. In 2013-14, National car Insurance was ranked second amongst the various motor insurance companies in India, with the overall organization’s gross premium count exceeding 10,000 crore.

ICICI Lombard Motor Insurance

With the tag of being one of India’s largest private sector general insurance company, ICICI Lombard GIC Ltd is known for its tech savvy approach, robust customer support and quick turnarounds on the immensely customer centric application procedures. When considering car insurance in 2015, keep in mind ICICI’s track record- 11.22 million policies issued, 6.44 million claims settled and

Rs.71.34 billion in Gross Written Premium (GWP) through the fiscal year 2013-14.

United India Car Insurance

Another heavyweight state owned general insurance company, United India Insurance Company Ltd. commands over seven decades of experience in non-life insurance business with a dominant stake in the sphere of motor insurance in India. As of the financial year 2013-14, United India was valued at a net worth of Rs.5407 crores with gross premium collections hitting Rs.9709 crores, marking the company as one of the leading general insurers in the Asian continent.

Bharti AXA General Insurance Co. Ltd.

Key benefits of Bharti AXA‘s vehicle insurance policy includes various value added services like roadside assistance even for changing flat tyre, onroad repair for minor breakdowns, lock out or lost key assistance and emergency fuel assistance. These benefits make it a sweet deal.

Royal Sundaram General Insurance

The name Sundaram has a long standing association with the Indian automotive industry across manufacturing, service and financial domains, making it one of the natural choices for auto insurance. The firm offers quick settlement in 2 working days and has cashless repair options through a wide network of workshops.