• Richa Shetty

Who has the Cheapest Car Insurance in India?

In a country like India where diversity always takes the lead, how can there be no variety in choosing the best low-cost, affordable insurance for your car? There is an abundance of motor insurance companies in India. Picking the right insurance for your vehicle at the cheapest price is a matter of concern for every car owner in India. People generally look for the cheapest third party insurance provider who can provide them the facilities like Zero depreciation insurance coverage, Instant Claim settlement for minor damage, etc. So many options and so many confusions. Sometimes you tend to buy car insurance from an insurer that confuses you, which in turn, can cause a severe problem. Know more about - Pay As You Drive Insurance

Cheapest Car Insurance provider in India:


1. Tata AIG General Insurance

2. Go Digit General Insurance

3. Bharti AXA Motor Insurance

4. Royal Sundaram General Insurance

5. United India Insurance Co. Ltd


1. Tata AIG General Insurance

Tata AIG General Insurance Company Limited is a joint business enterprise between the Tata Group and American International Group (AIG). Tata AIG commenced its operations in the year 2001. The firm provides a broad range of general insurance, car insurance products for business and personal requirements all over India.

Know more about - Telematics Insurance Solution for reducing premiums


2. Go Digit General Insurance

Go Digit General Insurance Limited is one of the largest general insurance companies that certainly provides unique general insurance solutions online. However, it should be kept in mind that, you can always compare these policies online with other insurers anytime as per your interest. The comparison can help you grab the best insurance plan at a budget within your affordability.


3. Bharti AXA Motor Insurance

Bharti Axa General Insurance Company Ltd is a joint venture between Bharti Enterprises and Axa Business Group. The alliance offers a bunch of insurance products to retail and commercial clients. In the alliance, Bharti Enterprises own 51% of the stakes while AXA enjoys the remaining 49%. The operations of the company commenced in India in August 2008. Know more about how car accidents can be detected using telematics.


4. Royal Sundaram General Insurance

Royal Sundaram General Insurance Co. Limited (formerly known as Royal Sundaram Alliance Insurance Company Limited), is the first private sector general insurance company in India to be licensed in October 2000 by the Insurance Regulatory and Development Authority of India. The company was initially promoted as a joint venture by Sundaram Finance, one of the most respected non-banking financial institutions (NBFCs) in India. Know more about the list of countries contributing to the success of Insurance Telematics.


5. United India Insurance Co. Ltd

United India Insurance Company is a popular face in the car insurance industry of India, incorporated on 18th February 1938 and later nationalized in 1942. It is a public sector company that has been at the forefront of designing and implementing complex policies to a large customer base. The company has a pan India presence and is also known for its pioneering efforts in taking insurance to the rural masses in order to quench their needs. Know more about What is the meaning of Food Truck Insurance and What does it Cover?


Car insurance policy depends on the following factors:


1. Vehicle Model

2. Age of the vehicle

3. Insured Declared Value (IDV) of Car

4. Add-Ons Purchased

5. Geographical location


1. Vehicle Model

Your car’s model and make also decide the premium of the insurance policy.


2. Age of the vehicle

The more the age of the car, the more will be the premium and vice versa.


3. Insured Declared Value (IDV) of Car

Insured Declared Value (IDV) of the car is its manufacturer’s showroom listed price minus the cost of depreciation. IDV also equals to the maximum insured sum.


4. Add-Ons Purchased

The cost of availing add-on covers adds to the premium cost. The more the add-ons purchased, the higher will be the car insurance policy’s premium but the more will be the insurance coverage. Know what 11 Things To Keep In Your Truck or Vehicle Which Will Help You During an Emergency or Break Down


5. Geographical location

The car insurance premium is also affected by the location of the RTO at which the car is registered. Two car insurance policies for the same car and from the same insurer will be different for cars registered in different cities or in different areas of the same city.


Contact our Insurance Telematics Specialist today to know more about how Traxroot's Pay As You Drive (PAYD) can assist your company with Affordable Car Insurance at the cheapest price. We can help you set up a ready to market (PAYD) Insurance programs in India in less than 24 hours.


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