Top 5 Best Car Insurances in India 2018- 19

In India, it is compulsory to have an accident coverage. Car insurance for the most part covers assurance against any burglary, fire or any natural calamity. Getting car insurance can be dubious, with a few organizations offering focused rates and befuddling offers. Many individuals tragically pick up the least expensive insurance just to understand the mix-up when they get in to unexpected circumstances. Ascertaining insurance premiums too is dubious. There's a considerable measure that goes into figuring premiums. More often than not, the premium sum is settled on the premise of Insured Declared Value of the vehicle. In the event that you increment the IDV the premium ascents and on the off chance that you diminish the IDV the premium decreases. So by contrasting the different insurance alternatives you can choose the best insurance arrangement that works for you. Here are best car insurance organizations in India today.

Profits of having Car Insurance:

• It gives coverage for the misfortune or harm of your vehicle. 
• It gives coverage against harm caused by robbery, fire, blast, mobs, strike, and regular disasters 
• It gives coverage against damage or demise of an outsider. 
• Individual Accident Cover.

Types of Car Insurance 

Third Party Insurance: Under this policy, if damage is done by you to another person or car then coverage will be provided by the company. It is also mandatory under Motor Vehicle Act.

Collision Coverage: It covers the collision damage done to your car in an accident. Under this policy car theft and vandalism are not covered. 

Comprehensive Cover: It covers all kind of theft, accident and third party legal liability. This policy has add on benefits like accessories cover, zero depression, engine protector and medical expenses etc.

Best Car Insurance Companies

1. Reliance Car Insurance

Reliance car insurance benefits

• Cashless benefits at over 2100 network service stations.
• Avail reimbursement of up to 1500 for towing charges.
• Get your policy issued instantly online.
• Customer service 24×7.
• A TAT of 24 hours for survey of your vehicle.
• Many attractive discounts and offers.
• Avail extra insurance covers.
• Get car insurance on and off the road with Reliance Car Insurance.

Add on Benefits

• Personal Accident Cover in case of death or disablement irrespective of whoever is driving.
• NCB retention: This is available for cars above 2 years old. This allows retainers to avail no claim bonus percentage even after a claim has been made.
• Motor Secure Plus Cover: This includes Nil Depreciation Cover, Consumables Cover and Engine Cover.
• Engine Cover: Here all expenses included are fixing damage done to your car engine, differential parts and gear box parts by water, leakage of lubricating oil.

Exclusions

• Depreciation or the normal wear and tear of the vehicle.
• Mechanical or electrical damage in your car.
• Vehicle used outside the geographical area.
• Damages which are caused by civic disturbances or war.
• Damage caused by the influence of alcohol or drugs.

2. ICICI Lombard Car Insurance

Features

• Cashless repair across wide network of garages.
• Free pick up, wash benefit at selected garages.
• You can issue policy online immediately.
• Trauma/Towing services available through 24×7 call center.
• Cashless claim settlement at network dealers.

Add on Covers available

• Zero depreciation: This cover saves you from the deductions on account of wear and tear due to ageing of the vehicle.
• Roadside assistance: In case of a breakdown or accident you can get roadside assistance with a maximum of 4 times in a policy year.
• Consumables: The consumables include nuts, bolts, grease, lubricants, brake fluid etc. In case of an accident you get coverage for this.
• Engine Protect Plus: This will cover expenses like repair of the engine, gearbox or differential parts like the leakage of lubricating oils, water ingression etc
• Loss of personal belongings: For this you will need to produce an FIR stating the details of theft or loss and there will be a deduction of Rs 500 too.

Exceptions

• Normal wear and tear due to aging of vehicle.
• Mechanical or electrical breakdown
• Loss/ damage due to war, mutiny or nuclear risk
• Depreciation or any consequential loss

3. Bharti Axa Car Insurance

Bharti Axa Car insurance has two covers which include:

Basic Cover: This includes damages caused by theft, damage by fire, accident, earthquake, flood etc. as specified in the contract.

• Third party liability
• Personal accident: Rs.2 lakhs in case of death/total permanent dismemberment.
• Basic + Roadside Assistance
• On road repairs (breakdowns)
• Towing services
• Change of tyre
• Lost key/lockout
• Emergency fuel

Add on covers

• Depreciation: Depreciation coverage up to 5 years
• Invoice price: Here it is calculated as Compensation = Insured Value + registration + road tax + insurance.
• Medical Expenses: Up to Rs.10, 000 for treatment of injuries (driver + passengers).
• Personal Accident: Claim up to Rs 1 lakh in case of total permanent dismemberment or death.
• Hospital Cash: Daily limit up to Rs.10, 000 subject to a maximum of 30 days of hospitalization.

Exceptions

• General wear and tear.
• Breakdowns like Electrical/Mechanical
• Events occurring outside specified areas.
• Driving under intoxication
• Using the vehicle beyond the authorized limits.

4. HDFC Ergo Car Insurance

Features

• You get access to 3400+ authorized list of garages across India for cash less claim.
• Purchase the insurance online without much of a difficulty.
• A customer support team to help you out at any time.
• Numerous discounts based on membership to an association or profession or age.
• Damages caused due to theft, fire, explosion, lightning, terrorism, earth quake and many more.
• The policy also covers injury or damage that maybe caused to a third party.

Add on Benefits

Return to Invoice: In case of a total loss then the insurance company pays the difference between the Insured’s Declared Value (IDV) and the actual purchase value (as listed on the invoice) of the vehicle.

Emergency Assistance Add On: 

• On-Site Minor Repairs of the Insured Vehicle
• Getting a set of duplicate keys delivered to the insured’s address.
• Tyre change or battery jump start of your vehicle
• Fuel delivery in case your vehicle runs out of it.
• You can get your vehicle towed to the nearest tow point.

Exceptions

• Mechanical or electrical breakdown.
• Depreciation due to wear and tear
• Damage to vehicle by war, mutiny or nuclear attacks.
• Loss of vehicle or damage occurred when you are outside India.
• Loss occurred when the driver was under the influence of alcohol or any other mind stimulating drug.

5. All India Insurance Car Insurance

Features

• Burglary or theft.
• Fire, explosion or self-ignition.
• The plan also protects form malicious events.
• Rights and strikes are also covered.
• Fire and earthquake is also covered in this policy.
• It also protects form natural calamities like hail, storm, flood hurricane etc.
• Landslides are also covered under this plan.

Add on benefits

• Personal Accident Cover
• Paid driver under the plan
• Passenger under the plan
• Loss of damage of accessories under the plan.
• Legal non fare paying passengers under the plan.

Exclusions

• Depreciation due to wear and tear.
• Driving with invalid driving license or consumption of alcohol.
• Loss due to civil war.
• Usage beyond specified borders.
• Tyres damaged.