But the biggest problem is that most online information related to the best car insurance in India is sponsored. So as the car owner, you keep searching for really useful information, keeping aside the product promotions!
So through this article, our attempt is to provide you with all real information so that you make a better decision for your best car insurance policy.
Popular car insurance providers in India
In India, there are well over 20 companies that offer distinctive and highly relevant insurance coverage for your vehicle. According to experts most popular companies are
HDFC ERGO General Insurance Company Limited
Bharti AXA General Insurance Company Limited
Bajaj Allianz General Insurance Company Limited
ICICI Lombard General Insurance Company Limited
Tata AIG General Insurance Company Limited
Reliance General Insurance Company Limited
New India Assurance Company Limited
Oriental Insurance Company Limited
Types of Car Insurances in India
All these companies provide mainly two types of insurance:
It is compulsory in India
It covers any damage or loss caused by you to a third-party person or vehicle
It also protects you from legal consequences in the event of an accident.
It is called 'third-party' cover primarily because the beneficiary is someone other than the two parties involved in the insurance contract.
It covers third-party liability as well as damage to the insured person or vehicle in the event of an accident.
This type of insurance typically covers damage from vandalism, fire, or falling objects.
Standalone Own-Damage Car Insurance is a bundled policy that covers both third-party liabilities and own damages incurred by your vehicle in the event of an accident.
To sum up
Just like your car preference and needs are customized considering your own needs, it's the same for the car insurance policy as well. You consider your needs, budgets, and coverage requirements when choosing the car insurance policy. Besides that, you need to consider your geographical area, the accident rates, etc.
It is advised that you conduct research and compare policies and quotes from various insurers before selecting the one that best suits your needs.
Check the claim settlement ratio, premiums, and policy coverage. Picking the best car insurance in India takes a good amount of time as well as research.
Otherwise, you can save time and energy by opting for neutral parties like Park+ without spending anything!
Park+ provides hard-core facts and information related to car insurance policies, other car-related topics, RTOs, etc. In fact, for their user base, they provide expert advice without any commission.
To avail of the facility you need to download the Park+ app. They have several other car-related services that you can try as well.