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Car Insurance 580 views April 5, 2021
Car Insurance offers financial protection against damages caused to your car, damages to property caused by your car, loss of life of the driver or third-party by your insured car, etc. The best part is that car insurance comes in different types fulfilling the different insurance needs of the customers. So, if you want car insurance to deal with the said eventualities, read this post where we will discuss its various types. This way, you could choose the right car insurance for yourself. So, let’s read about them without any further delay.
Table of Contents
Detailed Information About Types of Car Insurance Coverage
Car insurance in India comes in the following five variants –
Comprehensive Coverage
A car insurance policy with comprehensive coverage will provide you end-to-end protection against – risk factors related to your car, first-party cover, co-passenger cover, and third party cover. Also, you will get coverage for theft, natural and man-made calamities.
Uninsured Motorist Protection
This is a type of car insurance where you get your vehicle repaired or receive medical benefits if it is hit by another vehicle and the responsible driver doesn’t have insurance to cover your repair damages. An uninsured motorist protection policy covers your expenses against such damages.
Personal Injury Coverage
With this car insurance rider policy, you can enhance your car insurance plan and get coverage for all the injuries caused to the driver and the co-passengers during an accident. In this type of car insurance, your medical bills will be paid by the insurer no matter who is responsible for the car accident.
Collision Coverage
It covers the car repair cost to the insured person in case of damage to the car during the policy year. The coverage amount will depend on the age and current market value of your car. However, the compensation amount won’t exceed the current market value of the car.
Note – The collision cover is the lowest for old vehicles.
Third-Party Liability Coverage
This type of car insurance provides coverage in case your insured vehicle is responsible for an accident. Because using the Third-Party Liability, you don’t have to pay for the loss or damage caused by your car to the third-party as the same will be covered by the insurance company.
List of Top Car Insurance Companies in India
The following is the list of top car insurance companies in India that can provide you a great insurance deal.
| Company | Benefits | Network Garages for Cashless Claims |
|---|---|---|
| HDFC ERGO General Insurance | 70% off on premium payment Overnight car repair service for your damaged car Claim approval within 24 hours Same-day settlement | 7,100+ |
| Tata AIG General Insurance | 13 additional coverages Financial safeguard against loss, theft and damage to your car | 5,900+ |
| ICICI Lombard General Insurance | Personal accident coverage Cashless garages for repairs Coverage for theft | As specified by the insurer |
| Bharti AXA General Insurance | Cover for accidents, theft/burglary, natural and man-made disaster | 5,200+ |
| Reliance General Insurance | Personal accident cover 7 additional cover options Renewal facility for both expired and existing policies | 5,000+ |
| Bajaj Allianz General Insurance | Cashless hospitalization Cashless car repair No claim transfer bonus up to 50% | 4,500+ Network Garages 6,500+ Network Hospitals |
| IFFCO Tokio General Insurance | Zero depreciation cover Coverage for both man-made and natural disaster 24X7 on road coverage | 4,300+ |
| New India Assurance | Two coverage options - Third-Party Liability and Comprehensive cover 4 add-on covers | 1184+ |
| United India Insurance | Discount on vintage cars No claim bonus of 20-50% available after each claim-free year 5% discount on your own damage premium if you install an anti-theft device to your insured car | 634+ |
| Reliance General Insurance | Financial protection against loss or damages related to your car. Coverage against - Riot Strike Earthquake Malicious activity Terrorist activity Landslide Rockslide Accident (caused by external means) Burglary, housebreaking, theft Inundation cyclone Hailstorm Frost Fire Explosion Self-ignition Lightning Flood Typhoon Hurricane Storm Tempest caused to your vehicle and third-party Cover for your driver against losses such as bodily injury, death to a third party or any damage to the property | 5,000+ |
| SBI General Insurance | Compulsory personal accident and Third-Party Liability cover Coverage for loss or damage to your car due to: Fire, Self-ignition, Accidental damage, Explosion | - |