It is equally important to know about the insurance company and insurance plan before getting it insured. As much as it is necessary to inquire about its model before buying a car! Now you can get information about any insurance plans sitting at home, you can get insurance for any insurance company by visiting the websites of those companies.
But, the question arises that which companies’ websites should be visited and seen? So we have tried to find the solution of your problem in this article. Here we will know about those general insurance companies which are giving Top Performer in the field of Car Insurance for the last few years.
- 1 The New India Assurance Co. Ltd.
- 2 Benefits of New India Assurance Car Insurance
- 3 United India Insurance Company Ltd.
- 4 Benefits of United India Insurance Company
- 5 National Insurance Company
- 6 Benefits of National Insurance Company
- 7 Oriental Insurance Company Limited
- 8 Benefits of Oriental Insurance Company
- 9 ICICI Lombard General Insurance Ltd.
- 10 Benefits of ICICI Lombard Car Insurance
The New India Assurance Co. Ltd.
The New India Assurance Co. Ltd. was established in 1919, this insurance company is the oldest general insurance company in India. At present, it is also considered as the largest company in India in the field of General Insurance. The New India Assurance Co. Ltd. is headquartered in Mumbai, from where its business operates in 28 countries around the world.
It has more than 2400 offices in India, and 1,339 Micro Offices. By March 2017, the annual turnover of the company had crossed Rs 19 thousand crores. It has been getting AAA rating continuously for the last several years from the rating company CRISIL. This rating is proof that the company adheres to the best standards in protecting the interests of its customers.
It provides more than 230 insurance products according to the needs of different categories of customers. The company’s specialty is its straight-forward insurance products, which include all the necessary features related to motor insurance.
Benefits of New India Assurance Car Insurance
- Special vehicle insurance schemes like ‘Rasta Objection Kavach’ and ‘Suhana Safar’
- Claim settlement and paperless renewal without any hassle
- Repair without prepayment in cashless garage network across the country
- Facility of Zero Depreciation, No Claim Bonus Protection etc.
- For more information about New India Insurance Company and its Insurance Products visit: www.newindia.co.in
United India Insurance Company Ltd.
United India Insurance Company Ltd. was established on 18 February 1938. This is also a public sector general insurance company. When the general insurance business was nationalized in 1972, United India Insurance Company Limited was formed by merging the general insurance business of 12 Indian insurance companies, 4 co-operative insurance companies, 5 foreign insurance companies and Life Insurance Corporation of India (LIC).
This company has more than 1340 offices across the country. Through which it has sold more than 1 crore policies. With the help of its Micro Offices, the company has also penetrated into more than 200 Tier II and Tier III cities and towns across the country.
In the case of claim payment, the credit of the company is considered very good. Its solvency margin ratio is also much better. For this reason, it has also got the best rating from ICRA. These features make it special in the field of insurance protection-
Benefits of United India Insurance Company
- Waiver of premium for use of vehicle at insured premises or locations
- No claim bonus facility from 20% to 50%
- Repairing without prepayment in Cashless Garages across the country
- Facility of Online Complaint, Payment Status, Claim etc.
- To know about United India Insurance Company and its insurance products, visit the company’s website
National Insurance Company
National Insurance Company (NIC) is the oldest and state-owned general insurance company in India. Inspired by the Swaraj movement, it was established on 05 December 1906 in Calcutta. In 1972, when the insurance companies were nationalized, the National Insurance Company was formed by merging with 21 foreign and 11 domestic companies.
It was the first Indian company to make its insurance products suited for both corporate and rural areas. It is also the first insurance company that has entered into a strategic alliance with the country’s largest motor car maker Maruti and the largest two wheeler manufacturer Hero Moto Corp and many others. National Insurance Company started Bank Assurance in India and formed alliances with many big banks of the country to provide insurance services.
Benefits of National Insurance Company
- National Insurance Company is ranked best in many research related to auto insurance regarding customer satisfaction.
- Facility to insure all types of vehicles (for domestic, commercial or social purposes) under a private car insurance policy
- Special discount on insurance of vehicles specially designed for blind, disabled or mentally ill people.
- To know in detail about National Insurance Company and its products, visit the company’s website: nationalinsuranceindia.nic.co.in
Oriental Insurance Company Limited
This company, started in the country’s independence year (12 September 1947), is a very reputed name in the field of general insurance. It has its headquarters in Delhi. From 1956 to 1973 (until the general insurance business was nationalized in the country), the company was a subsidiary of the Life Insurance Corporation of India.
It conducts its business through 31 regional offices and more than 1800 micro offices located across the country. The company also has offices in Nepal, Kuwait and Dubai. The company has developed various types of insurance products to meet the needs of both rural and urban population of India.
Being owned by the Government of India, its credibility is also very good. It has also got the credit of iAAA score from ICRA for providing quality and robust financial services. It has also received several major awards such as the best bank and financial institution award and the best public general insurance award.
Benefits of Oriental Insurance Company
- Fast and easy handling of policy processes through best management system and information technology infrastructure
- 5000 to 10,000 indemnity (with additional premium) on loss of personal belongings (excluding money, credit cards and laptops, mobiles)
- If the vehicle is not used after accident/theft, payment of alternate vehicle fare at the rate of 400 to 650 per day. 5 to 15 days.
- For more information about Oriental Insurance Company and its insurance products, visit the company’s website: https://orientalinsurance.org.in/
ICICI Lombard General Insurance Ltd.
ICICI Lombard GIC Ltd is a part of the country’s largest private bank ICICI Bank. It has become India’s top general insurance company in the private sector as of today. Being associated with the country’s largest bank group, it also has very good credit and customer reach. This is the most preferred company especially in the field of car insurance.
The company had sold 1.7 crore policies till March 2018. In them too, more than 20 lakh insurance claims were settled by the company. The company prepares and sells insurance policies according to the needs of people in both urban and rural areas.
During the financial year 2017-18, 90.8% of motor insurance claims (including those with own damage policies) were settled by the company, that too within a maximum period of 30 days. It has been given AAA rating by rating agency ICRA due to its excellent claim settlement facilities.
Benefits of ICICI Lombard Car Insurance
- Simple and quick disposal of cases through the company’s website
- Rebate in premium for becoming a member of automobile associations and installing anti-theft devices
- Cashless repair facility across a network of 2700 garages across the country
- Facility to pay home investigation and towing charges
- For more information about ICICI Lombard Company and its insurance products, visit the company’s website: www.icicilombard.com