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Wednesday, 3 July 2019

Car Insurance Companies : top ten Car Insurance Companies

Top 10 Car Insurance Companies in India in 2019




In a country like India where diversity always takes the lead, how can there be no variety in terms of choosing the top best car insurance companies? 


There is a plethora of motor insurance companies in India. Here, I’ll assist you with the top 10 car insurance companies in 2019 on the basis of a number of factors like claim settlement ratio, coverage, cashless garage network, benefits etc and much more.

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1. ICICI Lombard General Insurance Company Limited

ICICI Lombard General Insurance Company is undoubtedly one of the top private general insurance firms in India. 

It’s a pet project of ICICI Bank. ICICI Lombard General Insurance has a stronghold in the insurance marketplace, particularly for car insurance. 

These are the reasons why ICICI Lombard is in the top 10 car insurance companies in India in 2019. 
ICICI Lombard General Insurance Company Limited is one of the leading private sector general insurance companies in India. 

It is engaged in general insurance, reinsurance, insurance claims management and investment management.

The company has a Gross Written Premium (GWP) of Rs 147.89 billion (FY 2019). 

The firm offers policy insurance and renewal through its intermediaries and website. It markets assurance products including Car Insurance, Health Insurance, International Travel Insurance, Overseas Student Travel Insurance, Two Wheeler Insurance, Home Insurance and Weather insurance.

ICICI Lombard has 265 branches and 910 virtual offices spread across the nation.

​2. Bajaj Allianz General Insurance Company Limited

Bajaj Allianz General Insurance is a private general insurance company in India.

The company is a joint venture between Bajaj Finserv Limited (formerly part of Bajaj Auto Limited) owned by the Bajaj Group of India and Allianz SE, a German financial services company.

Bajaj Allianz General Insurance Company is among the top 10 best car insurance companies in India. Bajaj Allianz is basically a joint business enterprise between Bajaj Finserv Limited and Allianz SE. Bajaj Allianz began its operations in the year 2001. The company has its offices located in more than 200 towns and cities all over India.

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3. Tata AIG General Insurance Company Limited

Tata AIG General Insurance Company Limited is basically a joint business enterprise between the Tata Group and American International Group (AIG). Tata AIG commenced its operations in the year 2001. The firm provides a broad range of general insurance products for business and personal requirements all over India.

Tata AIG General Insurance Company Limited is an Indian general insurance company and a joint venture between the Tata Group and American International Group (AIG). Tata Group holds a 51 percent stake in the insurance venture with AIG holding the balance of 49 percent.

4. HDFC ERGO General Insurance Company Limited

HDFC ERGO General Insurance Company is a general insurance firm based in India. 

It’s basically a joint business enterprise between HDFC Ltd and ERGO International AG. The company provides you with a wide range of insurance products like travel insurance, motor insurance, home insurance, etc. that offers coverage for both business and personal insurance needs.

HDFC Life (HDFC Life Insurance Company Ltd.)[1] is a long-term life insurance provider with its headquarters in Mumbai, offering individual and group insurance.

It is a joint venture between Housing Development Finance Corporation Ltd (HDFC), one of India's leading housing finance institution and Standard Life Aberdeen PLC, leading well known provider of financial savings & investments services in the United Kingdom. On 14 August 2015 HDFC Ltd. entered into a share sale agreement with Standard Life to sell a 9.00% stake in HDFC Life to the latter.

5. The New India Assurance Co. Ltd.

The New India Assurance Co. Ltd is basically a multinational general insurance company. It operated in 28 countries worldwide. New India Assurance has its head office in Mumbai, India. New India Assurance is one of the oldest general insurance companies in India that is owned and operated by the government of India.

The New India Assurance Co. Ltd., based in Mumbai, Maharashtra is a public sector general insurance company of India.

It is the "largest general insurance company of India on the basis of gross premium collection inclusive of foreign operations".

It was founded by Sir Dorabji Tata in 1919, and was nationalised in 1973.

6. The Oriental Insurance Co. Ltd.

The Oriental Insurance Company Limited began its operations in Mumbai, India in September 1947. 

Since OICL is one of the pioneers in the insurance sector, the company has firm has a great customer base. Oriental Insurance Company Limited is public sector farm that is owned and operated by the Central Government of India.

7. Bharti AXA General Insurance Company Ltd.

With 79 offices operating all over India, Bharti AXA General Insurance has a huge customer base. Bharti AXA has issued near to 9.8 million insurance policies. The company has also settled around 1.3 million claims in total, as of October 2017.

AXA is a French multinational insurance firm headquartered in the 8th arrondissement of Paris that engages in global insurance, investment management, and other financial services.

8. United India Insurance Co. Ltd.

United India Insurance Company Limited began its operations in India in February 1938. With over 1300 offices, the company has a strong base in India in terms of providing quality insurance solutions.

United India Insurance Company is an Indian general insurance company,fully owned by Government of India and is headquartered in Chennai, India.

It was incorporated on 18 February 1938, and was nationalised in 1972.

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9. Reliance General Insurance Company

Reliance General Insurance Company is India the very first insurer to receive the ISO 9001:2000 certificate for providing end-to-end services of various general insurance products offered all over India. There are a number of special features of benefits that are offered with Reliance General Car insurance plans.

Reliance Insurance Company, now officially known as Reliance Insurance Company [in Liquidation], was founded in Philadelphia in 1817 and has undergone numerous corporate makeovers in the intervening years. As of October 3, 2001, the company has been in liquidation.

10. Universal Sompo General Insurance Company Limited

Universal Sompo General Insurance Company is basically a product of a joint business enterprise between the Indian banks viz. 

Karnataka Banka, Allahabad Bank and Indian Overseas Bank, Dabur Investments which is an investment company and the Sompo Japan Insurance Company, a Japanese insurance company. 



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