Best Car Insurance Companies

Car insurance helps you mitigate financial obligations that may arise due to an unfortunate event involving your car such as a road accident, fire, theft, natural calamities, etc. As per the Indian Motor Tariff, every car/vehicle owner is legally required to have at least a third party car insurance cover for being able to drive their car legally on Indian roads. 

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Required? If you have a car loan or lease, your lender or leasing agent will likely require that you have these. Otherwise collision and comprehensive are optional. 

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Car liability insurance. This pays for injuries and property damage you cause to others. A good rule of thumb is to buy enough car liability insurance to cover what can be taken from you in a lawsuit.

Required? Yes, in most states. 

Third Party Car Insurance

According to Indian Motor Tariff, every car owner in the country is mandated to have at least a third-party car insurance policy. This plan provides you coverage for all third party liabilities such as third party bodily injuries, disability, death as well as property damage which may occur due to any unfortunate event involving your car. The third party property damage is limited to Rs. 7.5 lakh under this plan.

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One must also check the availability and quality of the customer support service offered by an insurance company. While some insurance companies offers 24*7 customer support, some offer 5-day customer assistance services. 

Known for the great no-claim bonuses that are passed on to the policyholder for every zero-claim year, Bharti Axa car insurance company is a great option, especially after taking into account the network of 5000+ cashless garages all over the country that make car repairs hassle free. 

Since car insurance policies are mandatory, almost all general insurance companies offer car insurance plans. Both third party and comprehensive policies are offered by general insurance companies. There are 33 general insurance companies in India and 31 of them offer car insurance policies. Among so many insurers, how can you choose the best company? 

Moreover, both third party and comprehensive coverage plans cover personal accident too. If you suffer from accidental death or disablement, you would get coverage of INR 15 lakhs.

Thus, with comprehensive policy car insurance, you get insurance coverage for not just the damage to the third party but also for the costs involved in repairing your own damages. You can read more about comprehensive policy car insurance here.