What is Car Insurance?
Car insurance or four wheeler insurance is an agreement between a car owner and a car insurance provider that provides protection for four wheelers in case of financial loss caused due to unforeseen events like accidents and natural calamities.
Car insurance covers damages to your vehicle and provides financial protection if you are liable for someone else’s injury or damage. Auto insurance can also cover medical bills if you or your passengers are injured in an accident or you are struck by an uninsured or underinsured driver. Your policy protects you to a certain extent agreed by you and your insurer.
Once you buy car insurance online, you can choose between a third party car insurance or a comprehensive car insurance or even a stand-alone damage policy as per your requirements.
Why Car Insurance is must in India?
Driving in India is a luxury that thousands of people enjoy every day. Buying a car in the country has become quite easy now, and with more disposable income, most families are able to buy more than one car. Having a car enhances one’s mobility and eliminates dependence on public transport. However, driving in India has its risks as well. Cases of road accidents and breaking of rules keep coming to the fore in the newspapers every day.
Why do you need car insurance?
Car insurance or four wheeler policy is essential to protect your car and you from various situations and scenarios that cause financial loss.
It pays for damages :- Cars are not only expensive, it is also expensive to pay for their repairs. Sometimes someone else’s carelessness can cause your car to break down. However, if you have car insurance, you are not required to pay for these repairs yourself.
It reduces your liability:- Car insurance coverage is compulsory in India. TPL policy covers you against the legal effects of any accident caused by you.
It compensates your family after your demise:- The most unfortunate result of a road accident is the death of the car owner. Once the bread earner policy holder passes away, it may become difficult for his family to carry on their daily life. However, a car insurance policy can help pay for the family’s expenses after an unfortunate event.
When you purchase a car, you should look for a reliable car insurance policy for the same. Not only because it’s a legal mandate in India, but also because it helps you stay stress-free, lowers your liabilities, and can even pay for your hospitalization. But while choosing the right car insurance policy for your car, there must be a dilemma which one to choose. To clear this confusion, we have listed the top car insurance companies in India in 2022 on the basis of claim settlement ratio.
Top 5 Car Insurance Companies in India 2022
1.Bajaj Allianz Car Insurance
- Online Policy Issuance & Renewal
- zero depreciation
- 24X7 spot assistance available
- voluntary discount
- Engine protector
- Personal baggage
- Self-vehicle survey and instant claim settlement with motor-on-the-spot
- Anti-theft device installation discount
- Key & lock replacement
- Conveyance benefit
2. Bharti AXA Car Insurance
- Instant Policy Online Purchase
- 24X7 Claim Support
- cover for co-passenger
- Cashless Claim Settlement at Network Garage
- Roadside assistance
- Key replacement cover
- Engine & gearbox cover
- Personal accident
- Ambulance charges
- Medical expenses
3. Chola MS Car Insurance
- No Claim Bonus
- 24×7 Support
- online policy renewal
- Anti-theft device installation discount
- Vintage Car Discounts
- Recognized Automobile Association Membership Waiver
- Exclusively Designed / Modified Vehicle Exemptions
- On-Site Minor Repair
- voluntary deductible discount
- Repair in the preferred workshop discount
4. Digit Car Insurance
- Easy online policy issuance
- 24×7 support
- No claim bonus
- Cashless repairs
- Doorstep pickup and repairs
- Smartphones-enabled self-inspection
- Super-fast claims
- Breakdown assistance
- Zero depreciation cover
- Passenger cover
- Consumable cover
- Return to invoice cover
- Type protect cover
- Engine and gear-box protection cover
5. Edelweiss Car Insurance
- No Claim Bonuses (NCB)
- Priority Service on Cashless Garage
- protection of depreciation
- faster claim settlement
- roadside assistance
- engine protect
- Invoice Value Protect
- Consumable Expenses Defense
- Avoidance of compulsory deduction
- NCB Protect
- personal belongings