Finding the right car insurance is important to bring your personal finance under checks and balances as it can significantly reduce the expenses of repairs and damages caused to your car or someone else’s car or property.
As we look forward to 2024, car insurance companies in India are expected to bring wider coverage, instant claims, and many more attractive perks and benefits.
Let’s explore the best car insurance to look forward to in 2024.
HDFC ERGO Comprehensive Car Insurance
With a premium starting at INR 2,551, HDFC ERGO Comprehensive Car Insurance offers more than 6,700 network of cashless garages which will cover expenses incurred when repairing damages caused to your car. The insurance comes with a 24/7 emergency roadside assistance should you require it to repair your car caused by accident, fire, explosion, natural calamities, etc. What’s more, is that it provides legal liability that covers damages to property owned by third-party.
The car insurance comes with a variety of add-ons for insured to select from zero depreciation cover, engine and gearbox protection, no claim bonus, emergency assistance cover, etc. Plus there are benefits including ‘Pay As You Drive’ which offers options to pay the premium based on the actual usage of the car. You can also avail of an additional 5% discount on the renewals in case of claim free years.
Bajaj Allianz Comprehensive Car Insurance
Bajaj Allianz Comprehensive Car Insurance is one of the top car insurance in our list for its feature-rich plans. The policy comes with cover including third-party liability, personal accident cover, and a huge variety of add-on rider options. The car insurance company has a network of more than 4,500 garages across the country that offers all-round protection should your car require it at the time of repairing.
The policy offers a cashless claim facility that doesn’t require the insured to pay for the damages as the company will settle the payment with the network garage. All you need to do is inform the insurance company as soon as you require to repair your car from the nearest network garage. With that being said, there are various add-ons you can choose from engine protector, zero depreciation, key and lock replacement, consumable expenses, to name a few.
Reliance General Comprehensive Car Insurance
It is compulsory in India for every vehicle owner to have a car insurance policy. For this reason, Reliance General Comprehensive Car Insurance has been designed to meet the cover required against your personal car damages as well as third party liabilities. The policy can be bought online by simply submitting relevant documents, and paying the premium—and you’re set to receive coverage required in case of accidental damages, theft-related losses, as well as man-made disasters.
There are also several add-ons should you choose to add an extra layer of coverage including total return to invoice, EMI protection cover, Zero depreciation cover, engine protection cover, NCB retention cover, daily allowance benefit, and tyre protector. On the downside, this insurance doesn’t offer free road-side emergency assistance, and the premium is quite expensive as compared to policies offered by other car insurance companies.
IFFCO Tokio Comprehensive Car Insurance
When selecting the right car insurance, it is important to look for parameters including policy coverage, add-on benefits, network of garages, among others. IFFCO Tokio Comprehensive Car Insurance is one of the top car insurance providers in our list as it meets all parameters we included while selecting the best car insurance to look forward to in 2024.
With a premium starting at INR 2,094 per year, it offers all-round coverage including zero depreciation cover, third-party insurance, personal accident coverage, to name a few. There are several add-ons including NCB protection cover, new vehicle replacement, roadside assistance, engine protection cover should you require for an extra layer of protection.
TATA AIG Comprehensive Car Insurance
TATA AIG Comprehensive Car Insurance offers insured car repair service across 7,500 network garages spread across the country. It offers coverage to both personal car damage and third-party car or property, and includes several add-ons to provide your vehicle with all-round protection. Insured can make full use of a zero depreciation add-on that reimburses the expenses required against depreciation cost of damaged car parts during the first-two claims.
What’s more, is that when you purchase the TATA AIG Comprehensive Car Insurance policy online through their official website, you can save up to 75% on premiums. Also, if you haven’t filed a claim in five consecutive years, you get up to 50% discount on car insurance premiums. Similarly, there are several other add-ons you can avail of such as return of invoice, which covers the cost between the purchase price and the compensation amount in case of car theft or complete damage.
Bottom Line
It is compulsory in India for every vehicle owner to have a car insurance policy, or at least a third-party insurance coverage. However, this shouldn’t become a factor to buy one. When selecting the right car insurance, it is important to look for parameters including policy coverage, add-on benefits, network of garages, return of invoice, and several other benefits. Every car insurance policy may seem similar, but there are a lot of differences in the coverage, premium amount, add-ons, and other features. Remember, to look for the car insurance policy brochure, and do a careful evaluation while selecting the best car insurance policy in 2024.
