Top 10 Best Auto Insurance Companies in India 2024

If you’re searching for the best Indian vehicle insurance companies in 2024, here are the top 10 best Auto insurance companies in India.

Auto insurance in India is a crucial financial safeguard for vehicle owners against unforeseen risks and damages. Mandated by law, every vehicle owner is required to have at least a basic third-party liability insurance policy. This coverage protects the insured against legal liabilities arising from injury or property damage to a third party in the event of an accident.

So, after purchasing a vehicle such as a car, bike, truck & bus, everyone looks for a good Auto insurance company for safety purposes. Auto insurance is needed and lawfully important for every vehicle owner. Nowadays you will find several top Indian car insurance companies and Indian bike insurance companies, so people mostly get confused about which one to choose.

Therefore, in this article, we will explore the top 10 best Auto insurance companies in India based on their reliability, benefits, and popularity. These vehicle insurance companies provide more trustworthy safety and insurance coverage for your vehicle. Let’s run down the list and tell us your recommended best Auto insurance companies in India.

Top 10 Best Auto Insurance Companies in India 2024

10. Universal Sompo General Insurance Company Limited

Universal Sompo General Insurance Company Limited is another reliable Auto insurance company. It was founded in 2007. The headquarters of this insurance company is in Mumbai. This insurance company is a joint venture of two reputed nationalized banks Indian Overseas Bank and Allahabad Bank. You will get 24×7 hours of policy assistance from the support team. Besides that, a quick and hassle-free claim settlement service is available from this company.

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9. Reliance General Insurance Company

If you are looking for a hassle-free and quick insurance policy for your vehicle then just go with Reliance General Insurance Company. You can get several affordable insurance policies for your vehicle from this company. It offers free roadside assistance coverage for your vehicle worth up to 500 rupees.

This insurance company was founded on 17^th August 2000. It has a cent percentage incurred claims ratio almost in every financial year. This is a private insurance company that offers policies for your vehicle as an insurance plan, own damage policy, third-party liability insurance plan, and long-term insurance plan.

8. United India Insurance Company

United India Insurance Company is another reputed government-undertaking insurance company in India that offers the best Auto insurance policies. This company was founded on 18^th February 1938. Currently, it has almost 1300 offices all over India. This insurance company has a strong customer base and it offers quality insurance facilities, especially for car & bike owners. Moreover, it has more than 1 crore policyholders and the claim ratio of this company is quite good.

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7. Bharati AXA General Insurance Company Ltd.

Bharati AXA General Insurance Company Ltd. is another great choice if you are looking for reliable Auto insurance. This is a joint venture between Bharati Enterprises and the Axa business group. This insurance company was founded in 2008. Currently, you will find 104 branches of it all over India. This is a private vehicle insurance company that offers a third-party liability-only policy and comprehensive policy. The claim ratio of this company is almost 98.50% and it offers 24×7 hours assistance for your vehicle insurance and quick claim settlement.

6. The Oriental Insurance Company

The Oriental Insurance Company was established in September 1947. Its operation begins in Mumbai and now you will find several branches all over India. This insurance company has a vast customer base and it offers several goods and Auto insurance policies for people.

Oriental Insurance Company Limited is a public sector company run by the central government of India. The headquarters of this insurance company is in Delhi and it offers insurance policies for both commercial and private vehicles. You will always get unique benefits and amazing features from its policies. So, no doubt, this is one of the best Indian Auto insurance companies.

5. The New India Assurance Co.Ltd.

If you are looking for a government-based Indian vehicle insurance company then The New India Assurance Co. Ltd is the best one for you. You can say this is one of the largest general insurance companies that offers attractive Auto insurance policies to people. This insurance company was founded on 23^rd July 1919 and offers a cent percent claims ratio with fast processing. Besides that, this insurance company has the best and strongest financial stability in India. The total net worth of this company is more than 37,500 crores.

4. HDFC ERGO General Insurance Company Limited

HDFC ERGO General Insurance Company Limited is another top name among India’s best Auto insurance companies. This privately owned insurance company offers single-year comprehensive vehicle insurance, standalone own damage cover, long-term comprehensive vehicle insurance, and third-party liability vehicle insurance. It has almost 6800 plus garages across India and the incurred claim ratio or ICR of this company is around 52.58%. You can insure your new or old vehicle under this company and get several benefits. This company also offers a hassle-free and fast claim settlement facility.

3. Tata AIG General Insurance Company Limited

Tata AIG General Insurance Company Limited is another one of the best Indian Auto insurance companies. It offers a wide range of add-ons to its vehicle insurance policies. It provides a good scope of coverage and you will get a quick and hassle-free claim settlement process. This is a private company that offers auto security, 3 years of auto security, and 3 years of standalone third-party long-term auto security for a private vehicle policy. Besides that, you can also go for its bundle auto secure policy which offers other facilities. Currently, the incurred claim ratio of this company is around 60.68. If you are looking for a good Auto insurance policy then definitely Tata AIG general insurance company is a good choice for you.

2. Bajaj Allianz General Insurance Company Limited

Bajaj Allianz General Insurance Company Limited is another top choice for you if you need a reliable insurance package for your vehicle. This company is a joint venture of Allianz SE and Bajaj Finserv Limited. Baja Allianz started its operation in 2001 and currently has a branch in 200 towns and cities in India. This brand always takes care of the client and understands the real needs of people for insurance policies. Besides that, it has several amazing Auto insurance policies such as roadside assistance facilities, a 50% no-claim bonus from Moto insures, zero depreciation cover, and much more.

1. ICCI Lombard General Insurance Company Limited

ICCI Lombard General Insurance Company comes at the top among all the other best Indian Auto insurance companies. This is a private insurance company that has several amazing insurance policies that successfully meet all the needs of the people. This insurance company was founded in 2001 and the headquarters of this company is in Mumbai. The company operates in various segments of insurance, offering a wide range of products and services to meet the diverse needs of its customers. Some of the key insurance products provided by ICICI Lombard include motor insurance, health insurance, travel insurance, home insurance, and business insurance. Least documentation, easy insurance claim settlement, and accident cover benefits make it the first choice for vehicle owners.