Car Insurance 1105 views April 1, 2021

Car Insurance can protect your car and your finances in case of an accident, natural calamities, theft, etc. And there are many car insurance companies in India from which you can get a cover for your four-wheeler. But which is the best car insurance company in India? There may not be a definite answer to it, but you can compare different companies based on certain parameters to find the best one for yourself. Go for a car insurance company having an extensive network of garages where you can get your vehicle repaired for free in case of accidents, third-party liability cover, high claim settlement ratio, etc. Keeping that in mind, we have listed out the best car insurance companies in India. So read about them and see which one suits you the best.

Claim Settlement Ratio and Cashless Garage Network of Best Car Insurance Companies in India

A Claim Settlement Ratio is the first thing that comes to one’s mind when comparing the best car insurance companies in India. This ratio denotes the number of claims settled in a financial year against the total number of claims received in that year. The higher the claim settlement ratio, the higher will be the number of successful claims. So, if you choose a car insurer with a high claim settlement ratio, you have greater chances of getting a successful claim.

Apart from the claim settlement ratio, you should also check the availability of cashless garages tied-up with a particular car insurance company. You can avail of the cashless repair for your car at these network garages.

In the below table, you can check the claim settlement ratio and the number of cashless garages of top car insurance companies in India.

Car Insurance CompaniesClaim Settlement Ratio ( FY 2019-20)Cashless Network Garages
HDFC ERGO91.23%7,700+
Bajaj Allianz98.00%6,000+
Bharti AXA94.06%5,200+
ICICI Lombard87.71%4,300+
IFFCO Tokio92.65%4,300+
Royal Sundaram92.66%4,600+
TATA AIG98.00%7,500+
Future Generali88.69%2,500+
Universal Sompo90.78%3,500+
Edelweiss Car Insurance84.52%1,500+

Overview of Best Car Insurance Companies in India

Now that you have the necessary information about the claim settlement ratio and cashless network garages, you should also know the features and add-on covers provided by the best car insurance companies in India. We are showing the same in the below table. Please check!

Car Insurance CompaniesStriking FeaturesAdd-on Covers
HDFC ERGO

  1. Upto 70% discount on premium and starting from as low as INR 2,072

  2. 24/7 Roadside assistance

  3. Overnight repair service

  4. Instant car insurance in 3 minutes

  5. Multiple plans for different needs ( Single Year Comprehensive, Third Party Cover, Stand Alone Own Damage, Cover for Brand New Cars)

  6. Personal accident cover of INR 15 lakh


  1. Zero Depreciation cover

  2. Return to Invoice

  3. No Claim Bonus protection

  4. Engine and Gear Box protection

  5. Emergency assistance cover

  6. Downtime protection
Bajaj Allianz

  1. Digital claim process within 20 minutes

  2. Online policy issuance and renewal option

  3. Third-party liability

  4. Own Damage expenses

  5. Options to include add-ons

  6. Cover for damages caused by your involvement in an accident

  7. Standalone Car Insurance option

  8. Usage-based Motor Insurance


  1. Zero Depreciation

  2. Engine Protector

  3. 24/7 Spot Assistance

  4. Consumable expenses

  5. Key and Lock Replacement

  6. Personal Baggage
Bharti AXA

  1. Comprehensive coverage

  2. No Claim Bonus

  3. Instant online policy facility

  4. Wide range of add-on covers

  5. 24*7 Claim Assistance

  6. Personal Accident coverage up to INR 15 lakh


  1. Depreciation shield

  2. Consumable expenses

  3. Roadside assistance

  4. No Claim Bonus protection

  5. Ambulance charges

  6. Invoice Cover

  7. Personal Baggage

  8. Medical expenses cover
ICICI Lombard

  1. No claim bonus up to 50%

  2. INR 15 lakh personal accident coverage

  3. Third-party legal liabilities coverage

  4. Instant Claim settlement

  5. Coverage for theft, accidents and terrorist activities

  6. Coverage for natural disasters, floods, fire, etc.

  7. Cashless claim facility

  8. Touchless policy issuance

  9. No paperwork


  1. Roadside assistance cover

  2. Engine protect cover

  3. Consumables protect cover

  4. Zero depreciation cover

  5. Garage cash cover

  6. Loss of personal belongings cover
IFFCO Tokio

  1. App-based claim settlement within 4 hours

  2. Up to 70% premium discount

  3. No Claim bonus up to 50%

  4. Converge for LPG/CNG fuel kit

  5. Coverage against man-made causes like theft, accidental external damage, etc.

  6. Coverage against natural disasters like floods, storms, etc.

  7. Coverage for property damages and injuries caused by your vehicle


  1. Zero Depreciation cover

  2. No Claim Bonus protection

  3. Engine protection

  4. New Vehicle replacement

  5. Roadside assistance
Royal Sundaram

  1. Free roadside assistance

  2. 100% invoice price

  3. Free emergency fuel delivery

  4. Coverage for loss or damage to your car

  5. Coverage for third-party liabilities up to INR 7.5 lakh

  6. Personal accident cover for owner or driver


  1. Depreciation Waiver cover

  2. Voluntary deductible cover

  3. Loss of baggage cover

  4. NCB protector

  5. Tyre cover

  6. Windshield glass cover

  7. Full Invoice Print insurance cover

  8. Key replacement cover

  9. Enhanced Personal Accident cover

  10. Spare Car clause

  11. Aggravation (Damage) Car clause

  12. Vehicle replacement value plus clause

  13. Lifetime road tax clause
TATA AIG

  1. Accidental damage and theft coverage

  2. Anti-theft device installation discount

  3. Modified or specially designed vehicle discount

  4. No Claim Bonus protection

  5. Personal accident cover for owner & driver


  1. Emergency transport and hotel expenses cover

  2. Key replacement cover

  3. Engine secure cover

  4. Consumable expenses cover

  5. Return to invoice cover

  6. Depreciation reimbursement

  7. Daily allowance

  8. Repair of Glass, Fibre, Plastic and Rubber parts

  9. Roadside assistance
Future Generali

  1. Instant online policy issuance

  2. Accidental towing assistance within city limits

  3. No Claim bonus transfer from any insurance company

  4. Fast claim settlement process

  5. 7 working days for claims finalization

  6. Renewal reminder service

  7. Automobile association membership

  8. Voluntary excess discount


  1. Theft or loss of keys

  2. Loss of personal belongings

  3. Tyre damage

  4. NCB protection

  5. Engine protector

  6. Inconvenience allowance

  7. Return to Invoice

  8. Zero depreciation
Universal Sompo

  1. Coverage of loss or damage from fire, explosion, theft, riot, burglary, etc.

  2. Coverage against legal liability up to INR 7.5 lakh

  3. Discount on choosing higher voluntary excess

  4. Discount for approved anti-theft devices installed in the vehicle


  1. Nil depreciation cover

  2. Cost of consumables

  3. NCB protector

  4. Hydrostatic lock cover

  5. Roadside assistance

  6. Accidental hospitalization clause for family

  7. Daily cash allowance

  8. Secure towing cover
Edelweiss Car Insurance

  1. Cashless claims settlement

  2. Personal accident cover for everybody else traveling in your car up to INR 2 lakh

  3. Cover for your legal liability toward your driver


  1. Consumable expense cover

  2. Roadside assistance cover

  3. NCB protection

  4. Key replacement cover

  5. Zero depreciation cover

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