Wednesday, 22 November 2017

Which Is The Best Car Insurance Company In India?

Purchasing a car is still a big deal in India. Let alone the time and effort a common man invests in buying the best suitable four-wheeler for his family; a first-time buy is always overwhelming.

Car insurance is a non-optional and tends to be a legal compulsion. But which car insurance do you opt for- third party car insurance or the one that an auto-maker offers?

Why Third Party Car Insurance?

Most of the leading car manufacturers offer an in-house deal for car insurance. But an option is always preferred. Therefore, dealers and auto-makers offer a third party car insurance for the buyers. Having the convenience of choosing insurance gives the customer an upper hand. They can compare the various policies on offer by various banks and finance firms, thereby making an informed decision.

What Is A Third Party Insurance Plan?

A third party car insurance ensures that the best interests of your vehicle are protected at all times. Be it an accidental damage, loss of your vehicle due to natural or man-made causes et al., third party car insurance makes the insurance company liable to recover and pay for the causes. Choosing a proper package that offers the best deals for your vehicle is essential. A third party car insurance ensures that the premium you pay for the plan is within your budget without costing you a leg and an arm.

What Is Not Covered?

However, a third party car insurance company is not liable to pay the insurance holder any damage claims in case of accidents caused due to drivers’ carelessness or theft. Third party car insurance can be purchased online and can be ported to other insurance offering firms as well. A simple call to the insurer can initiate the settlement process. Proceed to the nearest office with the documents and other proofs to incur that final settlement.

Which Is Best Plan?

The internet is flooded with a plethora of options which claim to be the best third-party car insurance firm. But which one do you choose? Which one is the best? Let’s find out.

1)    ICICI Lombard Motor Insurance

Ranked the best by customers all across the country, ICICI Lombard Motor Insurance takes the cake. With a comprehensive and detailed policy curated by the top-notch insurer, it boats of settling close to 72 billion INR in claims alone in the past few years. The plan offers the following features and benefits:

·         Zero depreciation cover.
·         No claim bonus as a part of third party car insurance.
·         Garage cash cover daily allowance for each day the car stays in the garage be it for service or repair
·         Round the clock roadside assistance
·         Cashless services across more than 3500+ network garages.
·         Additional 2.5% discount on cars protected by the Automobile Research Association of India for anti-theft protection.
·         Online purchase and renewal benefits for customers all over the country.

2)    TATA AIG Car Insurance

TATA has been a pioneer in the car industry. It didn’t come as a surprise when they ventured into the insurance business with AIG for insurances as well. With multiple key benefits and features, it is one of the most chosen plans by major premium customers.
·         Protects your vehicle across the country irrespective of plan purchase location.
·         Add-on cover facility to provide extra protection to the vehicle.
·         All wear and tear damages claimed can be availed for three years from the date of insurance purchase.
·         A fixed sum is paid to the customer for hired cars when the vehicle insured has been stolen or is under repair in any of the service stations. Repair time of up to 3 days attracts policy coverage.
·         Emergency coverage in case the vehicle becomes immobile due to unforeseen circumstances. The third party car insurance bears the cost of overnight stay, taxi fares of up to 25000 INR.

3)    Bajaj Allianz Car Insurance

Bajaj Allianz Car Insurance has a liability only motor insurance which is extended to commercial vehicles such as trucks, passenger vehicles (both public and private), and other special vehicles. With the generic features of a third party car insurance plan, customers can pay an additional premium to obtain the below benefits:

·         An extension with respect to the geographical coverage
·         Personal accidental coverage for the drivers and conductors of the operating vehicles.
·         CNG/LPG vehicles can also be covered under a liability only plan.
·         Liabilities cover for legal matters for those who undertake the maintenance and operational activities of the insured vehicle.


A car or a commercial vehicle can be for your private use or even a source of your livelihood. Therefore, it is essential that customers choose a auto insurance plan which offers the best benefits. Third party car insurance can only protect you against optional liabilities. However, a complete packaged offer with the additional features of a third party car 
insurance can set your vehicle up for a long time.

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