Best Car Insurance In India
Insurance is one of the most important document when on roads. Car insurance helps you mitigate alleviate problems that may arise due to an unfortunate event involving your car. It covers incident such as a road accident, fire, theft, natural calamities, etc. In Indian, as per the law, every car/vehicle owner is legally required to have at least a third party car insurance to able to drive their car legally on roads. The selection of the best car insurance will vary person to person. Network of garages, Claim settlement are some major factors considered.
In this blog we will try to list top 5 car insurance company in India. Want to know more about insurance and its types you may also check this link : Car Insurance Everything You Need To Know | Types, Importance, Pros and Cons
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5. Universal Sompo General Insurance
Universal Sompo General Insurance Co. Ltd is a joint venture. Indian Bank, Indian Overseas Bank, Karnataka Bank Ltd, Dabur Investment Corporation and a leading general insurer from Japan, Sompo Japan Insurance Inc. play the key roles. In the Year 2016, they bagged the ‘Best Customer Service Provider of the year’ award. For the Financial year 2020 it recorded 90.78% claim settlement ratio. It has morover 3,500 garages network
4. HDFC ERGO General Insurance
HDFC ERGO is a joint venture between HDFC and ERGO International AG. It is one of the insurance entities of Germany operating in the insurance field under the BFSI sector. The company has its Headquarters in Mumbai, Maharashtra. For the Financial year 2020 it recorded 91.23% claim settlement ratio. It has morover 6,800 garages network
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3. The Oriental Insurance Company
The Oriental Insurance Company Ltd. is an Indian nationalised general insurance company. It got its Headquarters in New Delhi. It has 31 regional offices. With more than 1800 active branches across the country. The company operates under the ownership of Ministry of Finance, Government of India. For the Financial year 2020 it recorded 91.76% claim settlement ratio. It has morover 3,100 garages network
2. Royal Sundaram General Insurance
Royal Sundaram General Insurance Co. Ltd. It is a subsidiary of Sundaram Finance Group. Notably, it is the first private sector general insurance company in India to be licensed by the IRDA. It was licensed in October 2000 by the Insurance Regulatory and Development Authority of India. For the Financial year 2020 it recorded 92.66% claim settlement ratio. It has morover 4,600 garages network
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1. IFFCO Tokio General Insurance
In the list of Top 5, IFFCO-Tokio General Insurance Company Limited has topped the chart. It is a Non-govt company. The insurance company was founded on 08 Sep, 2000. It is one of the most trusted brand in India from last 19 years. For the Financial year 2020 it recorded 95.30% claim settlement ratio. It has morover 4,300 garages network.
In this article we have ranked the companies with respect to claim settlement ratio. It is Consider all the best options before choosing one. Make sure you atleast have a third-party car insurance policy. The final decision lies with you. Wish you happy and safe motoring.
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