Buying the best car insurance policy can be a daunting task especially when there are too many options. Below are the parameters that we considered in selecting the best car insurance policies in India.

Type of Policy Coverage (30% of the score): It is very important to understand which type of plan to buy as each plan comes with its own coverage and benefits. Comprehensive plan gives you enhanced coverage along with damages and third-party coverage. It is highly recommended when you drive your car on a regular basis. However, third-party plans only cover your damages arising out of third-party liabilities and thus giving basic protection. We have already mentioned that a third party plan is mandatory for every car owner in India.

Add-ons Benefits (20% of the score): We have carefully observed the number of add-on benefits tagged along with the basic plan. One needs to be practical enough before choosing the add-on covers. Covers such as zero depreciation, no claim bonus benefits, consumables cover and others can drastically reduce your car repair expenses. It is to be noted that one cannot buy any add-on features along with the third party plan.

Cashless Network Garages (20% of the score): We have listed the number of tie-ups these car insurance companies have with garages for cashless car repairment expenses. Some companies including HDFC Ergo and TATA AIG have as many as 8,000 network garages .

Customization of IDV (20% of the score): IDV refers to the Insured Dealer Value of your car which is close to the current market value of the car. The insurance company allows you to select or customize the car’s IDV from a selected range. And, if one chooses a lower IDV, then they will have to pay a comparatively lower premium to insure the car and vice versa. This simply means more the value of the car, higher the premium payable to insure it. Although, it is highly recommended to select a high IDV for maximum coverage.

Online Insurance (10% of the score): With the advent of online and digital technology, buying an insurance policy is just a matter of a few minutes. We have listed those policies which can be easily purchased online with zero paperwork. Certain companies are also offering discounts on premium, if the policy is purchased online.