How do you choose the best car insurance?
How do you get the cheapest car insurance policy for your car? Where do you get all the rates of car insurance policy? These are some of the common questions that goes through all our minds at some point in time while buying a car insurance. We bring you the list of the cheapest insurance policy rates available in the market.
Firstly, there are no cheap car insurance policy
It all depends on the type of car you have, the condition of your car and the Insured Declared Value (IDV) of the car. Based on these factors, the car insurance premium is fixed by the company.
The list of cheapest car insurance policies
However, on an average you can compare the car insurance rates and find out the cheapest car insurance rates among them. Here are some of the cheapest car insurance rates.
The following rates are based on an entry level high end car. We went for the entry level cars to know the starting prices for the car insurance. These rates for an individual owner car and not for commercial cars.
Reliance General Insurance for Private Owned Cars
For a petrol car worth 4.3 lacs with manual transmission, the Reliance Car Insurance rates and conditions are as follows:
• Insurance Premium – 8,946 rupees
• Coverage – You get Enhanced Roadside Assistance , Legal Liability , Covers Own Damage ,
Personal Accident , Third Party Liability and Towing facility as well
• Reputation – The Company has a good track record of 82 % of claims settled in 30 Days with just 11 Complaints per 100000 Claims. They have eighth rank in the car insurance market share
Bharti AXA General Insurance
• Insurance Premium – 10,163 rupees
• Coverage – You get Legal Liability , Covers for Own Damage , Personal Accident , Third
Party Liability
• Reputation – The Company has a track record of 57 % of claims settled in 30 Days with just
85 Complaints per 100000 Claims. They have ninth rank in the car insurance market share National Insurance for Private Car
• Insurance Premium – 10,289 rupees
• Coverage – You get Cover for Own Damage , Personal Accident , Third Party Liability
• Reputation – The Company has a track record of 39 % of claims settled in 30 Days with just
31 Complaints per 100000 Claims. They have second rank in the car insurance market share HDFC ERGO General Insurance for Private Car- Silver
• Insurance Premium – 10,504 rupees
• Coverage – You get Age discount, Legal Liability, Occupation discount, Covers for Own Damage , Personal Accident , Third Party Liability
• Reputation – The Company has a track record of 59 % of claims settled in 30 Days with just
16 Complaints per 100000 Claims. They have twelfth rank in the car insurance market share
L&T General Insurance my: Asset for Private Cars
• Insurance Premium – 11,139 rupees
• Coverage – You get cover for Loss of Use/Cash, NCB Protection, Return to Invoice, Legal
Liability, Covers for Own Damage , Personal Accident , Third Party Liability and Zero
Depreciation
• Reputation – The Company has a track record of 0 % of claims settled in 30 Days with just 14 complaints per 100000 claims. They have nineteenth rank in the car insurance market share
These rates should give you a fair idea on the top five cheapest car insurance companies, however the rates may vary based upon your requirements.
