Although there are hundreds of companies in the market that provides insurance for your vehicle it is very time-consuming for you to choose which among them is best for you, that is why we have shout listed,
The Top 5 Trusted vehicle Insurance Companies in India 2021 for you:
1. Tata AIG General Insurance Company Limited:
Tata AIG General Insurance Company Limited is an Indian general insurance company
It is a joint venture between the Tata Group and American International Group.
Tata Group holds a 74% stake in the insurance venture with AIG holding the balance of 26%.
| Founded | 2001 |
| CEO | Neelesh Garg |
| Headquarters | Mumbai |
| Parent companies | Tata Sons (74%), American International Group (26%) |
| Personal accident coverage | up to 15 lakh rupees |
| Incurred claim ratio | up to 70% |
| Joint Venture | Tata Group and American International Group |
2. HDFC ERGO General Insurance Company:
HDFC ERGO is a collaboration between two companies HDFC and ERGO Internation where Hdfc holds 51 % and Ergo International holds 49% of the companies together Ergo of Munich Re a Germany-based insurance operating company.
| Founded | 2002 |
| CEO | Ritesh Kumar |
| HQ | Mumbai |
| Parent companies | Housing Development Finance Corporation, Ergo Group. |
| Personal accident coverage | up to 15 lakh rupees |
| Incurred claim ratio | up to 82% |
| Joint Venture | Hdfc holds 51 % and Ergo International holds 49% |
3. New India Assurance:
The New India Assurance Co. Ltd. is a public sector general insurance company of India. “It is the largest general insurance company of India based on gross premium collection inclusive of foreign operations”
| Founded | 23 July 1919, Mumbai |
| CEO | Atul Sahai |
| Founder | Dorabji Tata |
| HQ | Mumbai, Maharashtra |
| Subsidiaries | Prestige Assurance |
| Personal accident coverage | up to 15 lakh rupees |
| Incurred claim ratio | up to 103.19 |
4. The Oriental Insurance Company:
The Oriental Insurance Company Ltd. is a public sector general insurance company of the Government of India. It has 31 regional offices and more than 1800 active branches across the country. The company also has branches in Nepal, Kuwait, and Dubai.
Total assets: 11,581.63 crores
| Founded | 12 September 1947 |
| Owner | Government of India |
| HQ | New Delhi |
| CEO | Girija Kumar |
| Subsidiary | The Oriental Insurance Company Limited |
| Personal accident coverage | up to 15 lakh rupees |
| Incurred claim ratio | up to 112.60% |
5. Bharti Axa General Insurance:
It is a joint venture between Axa and Bharti business Group that operates in India.
Bharti shares 51% Axa Group shares 49%.
| Founded | 2008 |
| CEO | Sanjeev Srinivasan |
| HQ | Mumbai |
| Parent companies | Bharti Enterprises (51%), Axa (49%) |
| Personal accident coverage | up to 15 lakh rupees |
| Incurred claim ratio | up to 75%. |
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