In the recent years, the insurance sector has drastically grown and has achieved its own numbers and has made their presence amid the other competitors. And in the near future, the sector is intended to grow well with a huge market economy in the domain because of the increasing number of customers. With the insurance booming around, many of the new ventures are taking grounds in establishing themselves with key policies that are focused on the demands of the people. It is quite obvious to know which company is good? what kind of policy is best to be adopted? how the policy works? and more. Trying to know about the list of car insurance companies is a very good trait of a person who wishes to gain a financial advantage in the long term for the vehicular damage. If something happens to the vehicle such as accidents, thefts, damages and more will be fulfilled by the insurance company on the occurrence of the incident.

Top Five - List Of Car Insurance Companies

Collaboration Of The Indian Companies With The Offshore Ones

When you go for hunting the right insurance provider, then you will find a slew of car insurance companies that are competitive enough to take on the best car insurance companies. Here, in the next few lines you will come across some of the top car insurance companies, which provide insurance to the users rightly within the enclosed policy. The insurance industry is expected to grow to a higher scale in the forthcoming days. In India, there were only two insurance companies quite some time back, and they are General Insurance Corporation of India (GIC) and Life Insurance Corporation of India (LIC). Cutting across the different needs of the people, there are 24 General Insurance and 24 Life Insurance companies with the enthralling products and services that help the people. With the widening opera of the sector, most of the companies have collaborated with many of the international companies in the insurance sector.

Summary Of The Ratings, Economical Strength, And More

All these companies have come up with their own policies that carry certain pros and cons. In this sector, every player does have their risk appetite, needs, budget and future goals. As the fact of the matter, a plan that is useless to one can be a boon to another person. In the below section, you will be finding a huge scale of policy products provided by these insurance companies wherein you could know the expert ratings, credit ratings, financial strength and more other factors. You can learn more about these policies and the products by going through the articles, product details, reviews and more.

Insurance of the motors is not an option but a legal compulsion. Under the Indian Motor Act, it is mandatory to have the third party insurance for your vehicle. Even the experts do recommend for the comprehensive plan to be covered for your prized possession. The plan covers not only the loss/damage caused to the third party (vehicle/driver/property) but also the smash up caused by the natural calamities such as an earthquake, floods and more. To make the coverage more effective, the insurer concatenates the add-ons to the basic plan. There are three types of Motor Insurance available – Private Car Insurance, Two Wheeler Insurance and Commercial Vehicle Insurance. The public sector insurers have gained utmost importance by the customers due to their strategic approach towards the customers through right policies. From last few days, the pattern is bending in favor of the private insurers.

Top Car Insurance Companies

1. ICICI Lombard General Insurance Co. Ltd.

In India, the ICICI bank is one of the largest insurance companies among the private players. The insurance holders of the ICICI Company do have a highest satisfaction level. It has also been recognized as the top customer responsive companies among the players within the market. Moreover, it boasts the customers through awards and then build-up a brand loyalty.

2. The Oriental Insurance Co. Ltd.

It is owned and directed by the Central Government and is one of the top brands in the motor insurance sector. The brand has won some of the reputed awards in the insurance industry. To mention some, we have ‘Best Bank And Financial Institution Award’ and ‘Best Public General Insurance Award’. The company has good iAAA ratings received from the ICRA, and that indicates a strong financial network.

3. The New India Assurance Co. Ltd.

The owner of this company is the Government Of India. Supported by a strong infrastructure, human resource, and capital, the New India is one of the leading insurance companies in India. With the innovative products on the line, the company has marked its niche across the globe with its magnificent services attached to the products. A. M. Best Co., an international agency of rating has given a top rating of A (Excellent) to the company.

4. HDFC ERGO General Insurance Co. Ltd

With the huge recognition in the insurance domain, the HDFC has channeled several insurance policies, and that has taken the customers to an unexplored path. In the motor insurance category, it is one of the top brands. It has gained the highest number of the claim settlement ratios among the private players in the sector. Nonetheless, the HDFC ERGO is ISO 9001:2008 certified for providing operations as well as claim processes, and it has received the ratings of iAAA given by ICRA. In 2013, the company was rated as one of the best insurance companies in India by IAIR.

5. Tata AIG General Insurance Co. Ltd.

With the inception of the company in the year 2011, The TATA AIG has managed to win over the major fraction in the sector through its robust channels as well as hassle free claim settlements. In the past year, the company had received a reputed award for being one of the best employers and in the recent past the company has deployed a mobile application as well. Not only TATA but also the other players too, provide a similar or near to a parallel kind of policies to the customers that include warranty services, cashless settlement, free of cost pick up, resolution within seven days, specific and unique add-ons and more.