Best Car Insurance Company in India? What the Data Says
Every general insurer compared on claims paid, Ombudsman complaints about its motor and other non-health policies, and solvency. Official data, no sales pitch.
On 2024-25 data, New India Assurance, Bajaj Allianz General and Reliance General clear all three tests: they paid claims at least as often as the industry (88.7%), drew fewer Ombudsman complaints about their motor and other non-health policies for their size, and hold IRDAI's required solvency. Oriental Insurance, National Insurance and United India Insurance were below IRDAI's minimum solvency of 1.50.
The words on this page, explained simply
New to this? Here is what each term means, in plain English.
- Claim settlement ratio
- The share of claims an insurer pays out of all the claims it had to decide in a year. Check it by number and by amount: an insurer can pay most small claims and dispute the big ones.
- Insurance Ombudsman
- A free, official forum for insurance complaints. If your insurer rejects your complaint or does not answer within a month, you can go to the Ombudsman, who can order the insurer to pay.
- Solvency ratio
- How much money an insurer holds compared with the minimum IRDAI requires, so it can still pay claims in a bad year. IRDAI requires at least 1.50; below that, the regulator steps in.
- IDV (insured declared value)
- The most a motor policy pays in a year if the vehicle is stolen or damaged beyond repair: today's ex-showroom price less 5% to 50% for the vehicle's age. It is not the resale price.
- Zero depreciation
- A motor add-on that pays the full cost of replaced parts. Without it, the insurer deducts a share for wear, such as 50% on plastic and rubber parts.
Car insurance premiums look alike. What differs is what happens at a claim. This page compares every general insurer on official data. Motor is the largest part of their non-health business, so the complaint figures here are mostly about motor policies, with fire, home and other policies mixed in.
The three things we check
Does it pay claims? The share of claims the insurer paid in the year, from IRDAI's statistics. IRDAI publishes this for all of an insurer's claims together, not for health or motor alone.
Do its customers end up at the Ombudsman? When an insurer turns down a claim or ignores a complaint, a customer can go to the Insurance Ombudsman for free. We count the complaints each insurer drew in the year, per ₹1,000 crore of premium, so big and small insurers can be compared. We also show how often the Ombudsman sided with the customer in the cases it decided.
Can it pay? The solvency ratio: the money an insurer holds against what IRDAI requires it to hold. IRDAI requires at least 1.50.
An insurer passes a test when it is at least as good as the industry figure for the same year. Insurers with under ₹500 crore of premium or 500 claims are listed but not tested: a handful of cases swings their figures.
What this cannot tell you
These are insurer-level figures for one year. They say nothing about a particular policy's terms, its price, or the hospitals or garages in its network. Two policies from the same insurer can differ a lot, so read the policy wording before you buy. Next year's figures can be different.
Sources
Claims: IRDAI Handbook on Indian Insurance Statistics 2024-25. Complaints: Council for Insurance Ombudsmen Annual Report 2024-25 (Statements L3, G3 and H3). Premium and solvency: IRDAI Annual Report 2024-25. All for 1 April 2024 to 31 March 2025; solvency at 31 March 2025. The Ombudsman's report is a scanned document: Strota typed in its tables and checked every row and column against the printed totals.
Key takeaways
- Clear all three tests in 2024-25: New India Assurance, Bajaj Allianz General and Reliance General.
- Claims paid covers all an insurer's business; IRDAI does not publish motor-only figures by insurer.
- Check the garage network and the add-ons, like zero depreciation, as well as the insurer.
Frequently asked questions
Which is the best car insurance company in India?
On 2024-25 official data, New India Assurance, Bajaj Allianz General and Reliance General paid claims at least as often as the industry, drew fewer Ombudsman complaints for their size about non-health policies (mostly motor) and hold IRDAI's required solvency.
Does the claim settlement ratio apply to car insurance?
IRDAI publishes general insurers' claim settlement for all their claims together, not for motor alone. So use it alongside the Ombudsman complaint figures, which this page splits out for non-health policies.
Which car insurance add-ons are worth it?
Zero depreciation, for a car up to about five years old: without it you pay part of every repair bill yourself. The IDV calculator shows how much.