Trusted by millions, Maruti Suzuki is a well-known brand in India. In 2022, through Maruti Insurance Broking Private Limited, the company expanded its business to venture into the insurance business along with authorized insurance dealers. The need to fulfill customers’ car insurance requirements and enhance customers’ value proposition are the main reasons why Maruti entered the field of motor insurance. The company’s fairness and transparency in car insurance policy issuance and claim settlement ensures customer convenience and trust in the brand.
Maruti Suzuki’s PAN India presence ensures fast and efficient service throughout the country, be it in the highest altitude of Leh or the lease habitat islands of Andaman. Its robust customer-centric system guarantees a hassle-free policy purchase and renewal process with quality repairs and no hidden charges. To provide the best customer experience, Maruti Suzuki has partnered with more than 16 insurance companies to cater to customer’s insurance needs on end to end basis. All genuine car insurance claims (cashless) are settled at 2000+ Maruti Suzuki authorized workshops spread across the country.
Let’s have a closer look at companies who have tied up with Maruti Suzuki to offer car insurance products and services.
| Insurance Company | Premium | Claim Ratio |
|---|---|---|
| Bajaj Allianz General Insurance | 7.5% – 10% | 95% – 98% |
| Bharti AXA General Insurance | 8% – 10% | 95% – 98% |
| IFFCO Tokio General Insurance | 8% – 10% | 95% – 98% |
| HDFC Ergo General Insurance | 8% – 10% | 95% – 98% |
| ICICI Lombard General Insurance | 8% – 10% | 95% – 98% |
| National Insurance | 9% – 11% | 94% – 97% |
| New India Assurance | 9% – 11% | 94% – 97% |
| Royal Sundaram General Insurance | 9% – 11% | 94% – 97% |
| Go Digit General Insurance | 10% – 12% | 93% – 96% |
Top Car Insurance Companies in India
HDFC Ergo Car Insurance
In 2015, after a joint venture HDFC and ERGO came into alliance. The company has over 6700 cashless garages and offers services like overnight vehicle repairs. With a 4.4 customer rating, HDFC Ergo has over 1.5 Crore happy customers. HDFC Ergo provides a 100% claim settlement ratio where 80% of claims are settled within one day.
| Metric | Data |
|---|---|
| Company name | HDFC Ergo General Insurance |
| Headquarters | Mumbai, India |
| Founded | 1999 |
| Customers | Over 10 million |
| Claim settlement ratio | 96.2% |
| Number of claims settled | 3 million |
| Average claim settlement time | 22 days |
| Network of garages | 3,000+ |
| 24/7 emergency assistance | Yes |
United India Car Insurance
Incorporated in February 1938, United India Car Insurance has more than 1.38 crore customers. It provides a variety of insurance products and has a 95% claim settlement ratio. The company excels in achieving the goal of 100% customer satisfaction.
| Metric | Data |
|---|---|
| Company name | United India Insurance |
| Headquarters | Kolkata, India |
| Founded | 1938 |
| Customers | Over 15 million |
| Claim settlement ratio | 95.4% |
| Number of claims settled | 4 million |
| Average claim settlement time | 20 days |
| Network of garages | 3,000+ |
| 24/7 emergency assistance | Yes |
ICICI Lombard Car Insurance
Founded in 2001, ICICI Lombard General Insurance Company Ltd. offers a comprehensive and wide variety of insurance products. The company has a claim settlement ratio of 93.4% for motor insurance. With a 4.7 customer rating, ICICI Lombard has issued a car insurance policy for over 2.17 crore individuals.
| Metric | Data |
|---|---|
| Company name | ICICI Lombard General Insurance |
| Headquarters | Mumbai, India |
| Founded | 1993 |
| Customers | Over 17 million |
| Claim settlement ratio | 96.3% |
| Number of claims settled | 4.5 million |
| Average claim settlement time | 23 days |
| Network of garages | 4,000+ |
| 24/7 emergency assistance | Yes |
New India Car Assurance
Founded in 1919, New India Car Assurance has a 92% claim settlement ratio. With a huge customer market, the company is providing world-class service both in India and abroad.
| Metric | Data |
|---|---|
| Company name | New India Assurance |
| Headquarters | Mumbai, India |
| Founded | 1919 |
| Customers | Over 25 million |
| Claim settlement ratio | 95.6% |
| Number of claims settled | 6.5 million |
| Average claim settlement time | 25 days |
| Network of garages | 5,000+ |
| 24/7 emergency assistance | Yes |
Royal Sundaram Car Insurance
Established in October 2000, Royal Sundaram Car Insurance is trusted by over 28 million Indians. The company has a 99% claim settlement ratio and provides complete protection for your vehicle.
| Metric | Data |
|---|---|
| Company name | Royal Sundaram General Insurance |
| Headquarters | Chennai, India |
| Founded | 1956 |
| Customers | Over 5 million |
| Claim settlement ratio | 95% |
| Number of claims settled | 1.2 million |
| Average claim settlement time | 22 days |
| Network of garages | 3,500+ |
| 24/7 emergency assistance | Yes |
Digit Car Insurance
Established in the year 2016, Digit Insurance is trusted by over 3 crore Indians and has a 96% claim settlement ratio.
| Attribute | Value |
|---|---|
| Company Name | Digit General Insurance |
| Headquarters | Bengaluru, India |
| Founded | 2016 |
| Customers | Over 2 million |
| Claim Settlement Ratio | 96% |
| Number of Claims Settled | 1 million |
| Average Claim Settlement Time | 15 days |
| Network of Garages | 1,000+ |
| 24/7 Emergency Assistance | Yes |
Cholamandalam Car Insurance
Founded in 2001, Cholamandalam MS caters to different customer needs. With a 96% claim settlement ratio, the company is highly trusted by customers.
| Feature | Details |
|---|---|
| Company name | Cholamandalam MS General Insurance Company Limited |
| Headquarters | Chennai, Tamil Nadu, India |
| Founded | 1989 |
| Parent company | Murugappa Group |
| Japanese partner | Mitsui Sumitomo Insurance Company Limited |
| Products | Motor insurance, health insurance, travel insurance, home insurance, and other general insurance products |
| Website | https://www.cholainsurance.com/ |
| Total customers | 10 million+ |
| Claim settlement ratio | 96% (FY 2021-22) |
Future Generali Car Insurance
Future Generali has been in business since 2006 and has a 96% claim settlement ratio. With over 121 branches across India, the company serves its customers 24*7.
| Feature | Details |
|---|---|
| Company name | Future Generali India Insurance Company Limited |
| Headquarters | Mumbai, India |
| Founded | 2007 |
| Parent company | Future Group |
| Products | Car insurance, health insurance, travel insurance, home insurance, and other general insurance products |
| Customers | Over 10 million |
| Claim settlement ratio | 95.2% (FY 2021-22) |
| Number of claims settled | 1.2 million (FY 2021-22) |
| Average claim settlement time | 30 days |
| Network of garages | 3,500+ |
| 24/7 emergency assistance | Yes |
Reliance Car Insurance
Founded in August 2000, Reliance Car Insurance has managed to meet customer expectations with its effortless service. With a 96% claim settlement ratio, the company is popular among customers.
| Metric | Data |
|---|---|
| Company name | Reliance General Insurance Company Limited |
| Headquarters | Mumbai, India |
| Founded | 2005 |
| Parent company | Reliance Industries Limited |
| Products | Car insurance, health insurance, travel insurance, home insurance, and other general insurance products |
| Customers | Over 10 million |
| Claim settlement ratio | 95% (FY 2021-22) |
| Number of claims settled | 1.2 million (FY 2021-22) |
| Average claim settlement time | 30 days |
| Network of garages | 3,500+ |
| 24/7 emergency assistance | Yes |
Liberty Car Insurance
Founded in 2013, Liberty Car Insurance has over 110 offices across. The company has issued 20 crore policies since 2013 and has a 98% claim settlement ratio.
| Metric | Data |
|---|---|
| Company name | Liberty General Insurance Limited |
| Headquarters | Mumbai, India |
| Founded | 2006 |
| Parent company | Liberty Citystate Holdings Pte. Ltd. |
| Products | Car insurance, health insurance, travel insurance, home insurance, and other general insurance products |
| Customers | Over 5 million |
| Claim settlement ratio | 95.4% (FY 2021-22) |
| Number of claims settled | 1 million (FY 2021-22) |
| Average claim settlement time | 25 days |
| Network of garages | 2,500+ |
| 24/7 emergency assistance | Yes |
Kotak Car Insurance
Established in April 2015, Kotak Car Insurance has over 1.1 crore customers. With 4000+ network garages, the company has a 98% claim settlement ratio.
| Metric | Data |
|---|---|
| Company name | Kotak Mahindra General Insurance |
| Headquarters | Mumbai, India |
| Founded | 2002 |
| Customers | Over 5 million |
| Claim settlement ratio | 96.8% |
| Number of claims settled | 1.1 million |
| Average claim settlement time | 23 days |
| Network of garages | 3,000+ |
| 24/7 emergency assistance | Yes |
Bajaj Allianz Car Insurance
Founded in 1926, Bajaj Allianz is a customer-centric organization. Bajaj Allianz customers can get 24*7 roadside assistance. With a 99% claim settlement ratio, the company makes sure to provide what its customers need.
| Metric | Data |
|---|---|
| Company name | Bajaj Allianz General Insurance |
| Headquarters | Mumbai, India |
| Founded | 2001 |
| Customers | Over 10 million |
| Claim settlement ratio | 96.3% |
| Number of claims settled | 1.5 million |
| Average claim settlement time | 22 days |
| Network of garages | 4,000+ |
| 24/7 emergency assistance | Yes |
Zuno Car Insurance
Established in 2016, Zuno is a trusted insurance provider in India. With a huge customer base, the company has a 98% claim settlement ratio
| Metric | Data |
|---|---|
| Company name | Zuno General Insurance |
| Headquarters | Mumbai, India |
| Founded | 2017 |
| Customers | Over 1 million |
| Claim settlement ratio | 97% |
| Number of claims settled | 500,000 |
| Average claim settlement time | 15 days |
| Network of garages | 1,000+ |
| 24/7 emergency assistance | Yes |
| Key features |
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Universal Sompo Car Insurance
In 2008, Universal Sompo General Insurance started its business in India. The company’s PAN India presence provides customers with 24*7 assistance, a quick claim process, and the best insurance deals. Universal Sompo has a 96% claim settlement ratio.
| Metric | Data |
|---|---|
| Company name | Zuno General Insurance |
| Headquarters | Mumbai, India |
| Founded | 2017 |
| Customers | Over 1 million |
| Claim settlement ratio | 97% |
| Number of claims settled | 500,000 |
| Average claim settlement time | 15 days |
| Network of garages | 1,000+ |
| 24/7 emergency assistance | Yes |
IFFCO Tokio Car Insurance
IFFCO Tokio Car Insurance was founded in the year, 2000, as a joint venture between IFFCO Tokio and Tokio Marine Asia. With a customer rating of 4.8, the company has a 96% claim settlement ratio.
| Metric | Data |
|---|---|
| Company name | IFFCO Tokio General Insurance |
| Headquarters | Mumbai, India |
| Founded | 2000 |
| Parent company | IFFCO (Indian Farmers Fertiliser Cooperative Limited) and Tokio Marine Group |
| Customers | Over 5 million |
| Claim settlement ratio | 96% |
| Number of claims settled | 1.2 million |
| Average claim settlement time | 25 days |
| Network of garages | 2,500+ |
| 24/7 emergency assistance | Yes |
