- Motor Insurance is often viewed as some sort of protection. But it has other benefits like no claim bonus and depreciation allowance.
So, which one should you opt for? Discover the top 5 motor insurances in India in this comprehensive blog, so that you can compare & choose wisely.
Quick Summary
Acko: Quick claim settlement
Bajaj Alliance: Cashless claim settlement
SBI: Customisable policy
Tata AIG: Zero depreciation
Digit: High claim settlement ratio
Top 5 Motor Insurances in India
Acko
Key Benefit: Quick claim settlement
Overview: With a 2-hour process, Acko’s motor insurance offers a quick claim settlement process.
Pros
No paperwork
24/7 roadside assistance.
Cons
Delays in customer service.
2. Bajaj Alliance
Key Benefit: Cashless claim settlement.
Overview: Bajaj Alliance’s motor insurance is extremely convenient due to its cashless claim settlement.
Pros
Extensive coverage
No claim bonus
Cons
High premiums
3. SBI
Key Benefit: Customisable policy
Overview: If you want a policy that allows multiple add-ons, SBI’s motor insurance is perfect for you.
Pros
Hassle-free claim settlement process.
Cashless repairs.
Cons
Poor online process
4. Tata AIG
Key Benefit: Zero depreciation
Overview: Tata AIG’s motor insurance is extremely reliable due to its zero depreciation policy.
Pros
Wide network of garages.
Affordable premiums
Cons
Mixed customer reviews.
5. Digit
Key Benefit: High claim settlement ratio
Overview: Digit’s motor insurance offers a high claim settlement ratio, which is extremely important for any insurance user.
Pros
Comprehensive coverage that includes coverage for your own vehicle's damages as well as third-party liabilities (death, disability, and property damage).
No paperwork required.
Cons
Limited physical presence.