We are at the dawn of a New Year. This is the time to renew your resolutions and also your insurance policies. While you are quarantined at home, looking at lucrative policies, we have brought you the list of Top 5 Car Insurance companies in India. This is the time when you have to be up to date with the market trends to look out for the best car insurance companies in India in 2020. So whether you are planning to buy a new car or you are just looking to renew your old policy, this blog will come in handy! Having a legitimate motor insurance is essential for all the car/vehicle owners and drivers in India. It is mandatory to have third party car insurance in India under the Motor Vehicle Act, 1988. We recommend you get the most comprehensive insurance for your automobile. A compendious car insurance plan not only covers a vehicle from any loss/ damage caused by you to a third party (driver/ vehicle/ property) but also protects the insured from any loss /damage caused by natural/ man-made disasters. Moreover, every insurance company offers a bunch of valuable add-ons on your basic plan to make the coverage even more effective. TATA AIG General Insurance Co. Ltd.Founded in 2001, TATA AIG General Insurance Co. Ltd is a joint venture by two market giants, the American International Group, and the TATA Group. This amalgamation has turned out to be great for the Indian market as millions of people already have the policy and the family is growing bigger by the day. This joint venture has managed to take on the motor insurance market soon after they formed the company. At this point, this insurance policy is said to be best policy in the financial market. It is said to have the strongest agent and customer service network. The benefits of getting yourself a TATA AIG  car insurance is as follows:Benefits :Comprehensive motor coverComprehensive personal coverComprehensive third-party coverCashless settlements at networked garagesReimbursement claim settlement within one weekClaim free policy periods accumulate no claims benefitCover for on-road emergenciesVehicle repair cover due to an accident has six months validityPersonal coverDriver and pinion coverVehicle coverNo pickup charges for personal/commercial carSalvage value is not deducted while calculating premiums for cover valueRepair claim for glass/fiber/plastic/rubber parts does not reduce any claim benefitsICICI Lombard General Insurance Co. LtdICICI Lombard General Insurance Co. Ltd is known as the largest general insurance company in India in the private sector. According to a few general surveys, this company has the most competitive car insurance in India in terms of Customer satisfaction. This company has also been awarded for customer and brand loyalty. The benefits of getting this insurance are as follows : The Insurance can easily be purchased online, and you can also divide it into EMIsThe insurance offers the highest claim settlement ratioThe policy holders can avail the cashless facilities in 3300+ network workshops across IndiaThey issue e-insurance policy almost immediately after you make the final purchaseSimple ProcedureWide range of add-on coversHighly Valued and appreciated customer supportWide variety of add-on featuresThe New India Assurance Co. LtdThe New India Assurance Co. Ltd is an entity wholly owned by the Government of India and is based out of Mumbai. This insurance company has been making a lot of news recently and has established a strong presence in the International market since its inception. The entity has a strong network and capital, human resource, and robust infrastructure. The company proudly holds the title of being called a pioneer in introducing a lot of innovative insurance products. Some benefits of this insurance are as follows: The decision on the claims are given within 72 hours of the application Acknowledgement of grievance within 72 hours Any Complaint will be resolved within 15 days of its acknowledgement The claim payment is made within three days of discharge voucher receipt HDFC ERGO General Insurance Co. LtdHDFC ERGO  General Insurance Co. Ltd is an ISO 9001:2008 certified insurance company which has its own robust channel of distribution and a dedicated customer support. This insurance company claims to provide the highest claim settlement ratio. HDFC ERGO is also one of the best motor car insurance providers in India. The company has been rated highly by the ICRA and have also won the award for being the best general insurance company in India by IAIR in 2013. Some benefits of acquiring this insurance are: Enjoy cashless claim service at over 3400+ authorized network garages.Network of authorized garages located across India.Enjoy No Claim Bonus.Special discounts for members of the Automobile Association.You (as the owner/driver of the vehicle) are entitled to mandatory Personal Accident Cover (owner/driver of the vehicle) for up to Rs 2 lakhs against Permanent total Disability & Accidental Death.Cover also extends to the named or unnamed passengers of the vehicle up to the vehicle’s seating capacity and a driver.The dedicated customer care team ensures round-the-clock support for all your queriesThird Party Damage Up to 7.5 LakhsThe Oriental Car Insurance Co. LtdThe Oriental Insurance Co. Ltd.is another company which is owned by the government of India. This insurance company is well known for its goodwill in the market as trustworthy. Apart from a stack of awards they have received, the most recent is the ‘best public general insurance award’ and also the ‘best bank and financial institution’. It has a strong financial network across India, some of the benefits of owning this insurance are as follows: Attractive add-on covers1800+ active branches in IndiaGovernment entityStrong agent network and customer supportOffers customized plans as per your requirementsOffers coverage for a year, but also offers coverage for shorter durationOffers online facilities to buy and renew the car insurance products at your convenienceOffers alternative car benefit allowance in case of emergencies like theft, accident, damage. This allowance is Rs.400 or Rs.650/-Offers excellent add-ons at a very affordable rateOffers emergency services through TVS absolutely freeOffers higher and best coverage at an affordable premium rateProvides complete peace of mind through stress-free ridesOffers speedy and hassle-free claim settlement processHas effective risk management systemConclusion A compendious car insurance policy covers for all third-party liabilities, medical expenses, and property damages. Since it is compulsory for you to own an insurance policy for your vehicle, we suggest you go for the best ones in India. The insurance market is rising slowly after the pandemic and this is the best time to cash in on the opportunity.