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List of 20 largest auto insurance companies in India

Vijay was thrilled when he bought his first car. He took his wife and kids on long drives every weekend, and they even drove down to his parent’s place 160 kilometres from where they lived.

A lot of paperwork came with the car, but Vijay stuffed all the documents in the glove compartment. Then, when stopped by the police, he thrust the whole bunch into the policeman’s hands, who pursued them and sent him on his way.

A little over a year later, Vijay was again stopped for routine checking. Again, he handed over the same documents, but this time, the cop handed back the documents along with a challan for ₹1,000. Vijay was dismayed.

Why did this happen? The reason is simple – Vijay’s auto insurance had expired. You need to renew your car insurance every year, which he failed to do in time, so he was fined.

Choosing a Suitable Insurance Provider

When you buy a new car, it comes along with insurance that is valid for a year, which is added to the cost of the vehicle. But a year later, your car insurance will be due for renewal. Here is a list of the largest auto insurance companies in India:

  1. Bajaj Allianz Car Insurance

Bajaj Allianz Car Insurance was established in 2001. You get instant policy renewal, premium-paying flexibility, and quick, cashless claims through auto digital insurance methods.

Add-ons include accidental death, disability, and critical illness benefit riders, which you can avail of by paying a nominal extra amount.

  1. ICICI Lombard General Insurance

Established in 2005, ICICI Lombard General Insurance is an unlisted private insurance company. You can opt for Comprehensive Car Insurance, No Claim Bonus in Car Insurance, and Bumper to Bumper Car Insurance.

  1. Chola MS Car Insurance

Founded in 2001, Chola MS General Insurance company offers own-damage car insurance, third-party car insurance, personal injury insurance, and comprehensive insurance.

Chola MS car insurance features are speedy turnaround on claims, 24/7 assistance, and premiums at competitive rates.

  1. Digit Car Insurance

Digit Car Insurance Company was founded in 2016, and it is based out of Bangalore. The original name of the company was “Oden,” which means “at the top” or “ahead” in German. This auto insurance company has over 1,000 garages with 24/7 emergency assistance provided.

  1. Edelweiss Car Insurance

The Edelweiss Group (officially known as Edelweiss Financial Services Limited) was founded in 1995 in Mumbai. The company is known for timely settlement of claims and compensation to its customers for damages and loss.

You can get your car repaired in its network of over 1,000 garages, and you will be eligible for compensation in case of theft.

  1. Future Generali Car Insurance

This is a private general insurance company that was founded in the year 2000. Future Generali is a collaboration between the Assicurazioni Generali and the Future Group.

A policy with Future Generali provides instant online policy insurance with a fast claim settlement process and over 2,500 workshops.

There is no loss of no-claim bonus if you transfer in from another insurance policy.

  1. IFFCO-Tokio Car Insurance

IFFCO- Tokio insurance company was founded in the year 2000. It is a joint venture between the Tokio Marine Group of Japan and IFFCO, the Indian Farmers Fertilizer Co-operative. The claim-settlement ratio is 98.35%, and you get your own damage plus third-party cover.

The eight add-ons available include zero-depreciation, no-claim protection (no-claim bonus is guaranteed), vehicle replacement, and roadside assistance.

  1. Kotak Mahindra Car Insurance

Incorporated in 2014, this auto insurance company offers an array of car insurance benefits. Customers appreciate the cashless service and optional add-ons by the company.

Optional add-on benefits include depreciation cover, engine protection, daily car allowance, tire protection, key replacement, consumables, invoice return, personal belongings loss, and roadside assistance.

  1. Liberty Car Insurance

Liberty Car Insurance was founded in 2013 in Mumbai. You get basic protection against damages to your car and third-party liability as well. Liberty Car Insurance offers hassle-free and timely claims with a variety of add-ons and easy renewals.

  1. National Car Insurance

This company was incorporated in Kolkata in 1906. National Car insurance gives an option of either an annual liability-only policy or a three-year liability package on cars purchased on or after 1st September 2018.

Exclusions include wear and tear, loss/damage incurred under the influence of alcohol, claims from contractual liability, or using a private car for commercial use.

  1. New India Assurance

Sir Dorab Tata founded the New India Assurance in 1919 in Mumbai. The company was nationalized in 1973.

The company offers both own damage and third-party insurance coverage. You can also get additional benefits by paying a little extra.  

  1. Oriental Car Insurance

Oriental Car Insurance was founded in Bombay in 1947.  It is one of India’s largest auto insurance companies. Benefits include accidental loss or damage to the vehicle.  You also get third-party liability.

Personal liability coverage is provided to the driver or owner of the vehicle and damage through self-ignition or natural calamity or an explosion, terrorism, riots, or strikes.

  1. Raheja QBE Car Insurance

Raheja QBE is a collaboration between QBE Insurance, Australia’s second-largest insurer, and Rajan Raheja Group. This auto insurance company offers liability-only car insurance for private car owners and third-party liability and personal accident insurance.

  1. Reliance Car Insurance

Reliance Car Insurance was incorporated in 2000. Discounts of up to 70% are available. In addition, personal accident cover up to ₹ Ten lakhs is provided. You can do all your transactions on an auto digital insurance basis, and over 5,000 network garages are available.

  1. Royal Sundaram Car Insurance

This company was founded in 2001. The benefits include valet care, 24/7 emergency, digital car inspection, simplified claims, and transferable no-claims bonus. The premiums are also protected from inflation. All settlements are completed within ten days.

  1. SBI Car Insurance

Founded in 2009, SBI Car Insurance provides coverage against accidental damage, third-party liability, personal accident coverage to owner or driver, no-claim bonus, and Return to Invoice. Add-ons include depreciation on reimbursement, roadside assistance, and cost of consumables.

  1. Shriram Car Insurance

The Shriram Group was founded in 1974. The company offers several benefits like coverage for loss or damage to a vehicle due to natural or manmade calamities, third-party liability, and death benefits.

Add-ons include zero-depreciation cover, invoice return, coverage for personal belongings loss, emergency transport and hotel expenses, key replacement, and multicar rebate.

  1. Tata AIG Car Insurance

Tata AIG Car Insurance was established in 2001. The key benefits of this company include affordable premiums with attractive discounts, claim assistance, cashless repairs in over 7,500 garages, third-party cover, and own damage cover.

The company also offers 13 customizable add-ons. You also get a no-claim bonus of up to 50% discount on completing five years without making a claim.

  1. United India Car Insurance

This company was founded in 1938. The benefits include own and third-party liability due to damage from manmade or natural calamities.

There are two packages, Package Policy – Section I that has to do with liabilities arising from the owner, and Package Policy – Section II that concerns itself with third-party liabilities.

  1. Universal Sompo Car Insurance

Founded in 2007, Universal Sompo Car Insurance will cover your car for damage due to fire, explosion, theft, malicious acts, terrorism, accidents, or landslides.

Add-ons include loss of accessories, zero-depreciation cover, roadside assistance, cost of consumables, no-claim bonus protection, key replacement, and so on.


Car insurance is mandatory in India. As Vijay found out to his dismay, you can be prosecuted if you fail to produce valid insurance documents when stopped by the police. So ensure that your car is covered by any of these 20 largest auto insurance companies in India today for trouble-free driving for you and your family.

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