General insurance is also known as the non-life insurance. There are so many general insurance companies in India which offers you a variety of general insurance plans at the premium rates. This insurance category is designed to ensure the safety of your valuable assets.
These insurance products offer you safety against your assets. Like if you buy home insurance plan that means you are purchasing safety against unforeseen circumstances that happens in your house like theft, damage by natural calamities and fire.
In this blog we are going to tell you the top general insurance companies in India 2020 and its products and services. So, let’s get started.
List of Best General Insurance Companies in India
There are plenty of general insurance companies in India which offer different types of general insurance policies. So, here we are going into depth of the best general insurance companies in India 2020.
1. The Oriental Insurance
2. National Insurance Company
3. Tata AIG Insurance Company
4. HDFC General Insurance
5. Reliance General Insurance
6. Liberty General Insurance
7. Max Bupa Health Insurance Company
8. Star Health and Allied Insurance
9. Go Digit General Insurance
10. Religare Health Insurance Company
The Oriental Insurance
The Oriental insurance company is inaugurated in the year 1974. It’s headquartered in Delhi. The branch offices of this insurance company are 1800 across the country. This insurance company offers a wide variety of insurance products to cater to the needs of the customers. It has a handsome claim ratio that is 85.66% and the claim settlement ratio is also straightforward. After getting the huge acceptance from the customers they have also expanded their business outside India like Kuwait, Nepal, and Dubai.
National Insurance Company
It is one of the best general insurance companies in India which launched its operation in 1906. Its headquarters in Kolkata and made its name reputed in the market by offering the best insurance solutions at the affordable premiums. The claim ratio of its insurance policies is 114.24%. It has a team of dedicated customers’ professionals who can help their customers to settle the claim as early as possible.
Tata AIG Insurance Company
It is also one of the reputed and renowned insurance companies in India which started its insurance business in the year 2001. The company is a result of collaboration of TATA and AIG. This insurance company general insurance plans are very innovative and come with flexible payment options. The claim ratio of this company is good which is 71.12% respectively. This general insurance company offers you both life and nonlife insurance policies to the customers to cater their needs. If you are worry about the claim settlement procedure let us clear it is very simple and you will get the claim within 30 days.
HDFC General Insurance
This general insurance company is collaboration between HDFC and ERGO. It is one of the most popular and reputed general insurance companies in India. It has 1200 branches across India. The insurance solutions of this company are innovative and quality based and available at an affordable premium. It is also awarded one of the top auto insurance companies in India. The claim ratio of the company is 74.36% and the process to settle the claim is simple and straightforward.
Reliance General Insurance
It is one of the best general insurance companies in India which offers you the high-quality based and innovative general insurance plans at affordable premiums. It has 139 branches across India and more 28,900 intermediaries all over the country. The claim ratio of this company 84.71% respectively and its claim settlement ratio can be resolved within 30 days. All its plans encourage you to live a healthy lifestyle. The sole purpose of this insurance company to offer innovative plans at the nominal premiums.
Liberty General Insurance
This insurance company is a joint venture between Liberty city state with PTE LTD in the year 2013. This insurance company has 60 offices in the 58 cities across India. This company aims to provide the commercial insurance plans to the customers at the nominal and flexible pricing. The personal accident insurance, health insurance, employee compensation insurance, and commercial insurance the best insurance plans. The claim ratio of this company is 69.60% and the time period to settle the claim within 30 days.
Max Bupa Health Insurance Company
This insurance company is joint venture of Max India Limited and the UK healthcare, Bupa. The reason behind the joint venture to offer innovative, and a wide variety of general insurance plans to the customers at the lowest premiums. Its branch offices in over 190 countries and the most reputed insurance office is in India. The claim settlement ratio of this company is 50.19%. This general insurance company is specialized in providing both life and non-life insurance plans.
Star Health and Allied Insurance
When it comes to variety of best health insurance plans that come with the flexible payment methods than you should opt for this general insurance company. Because this company is famous for its excellent insurance products and services. The headquarter of this company is in Delhi and it started its operations in 2006. The claim ratio of this is company is 61.76% and also the procedure to settle the claim is very simple.
Go Digit General Insurance
It is the first digital best general insurance companies in India. To expand its insurance business it ties up with policybazar, paytm, cleartrip and Tansique. It provides a wide range of insurance products and services. If you are looking for an affordable premium general insurance plans and has simple claim settlement procedure then choose this company. The claim ratio of this general insurance company is 93.95% respectively.
Religare Health Insurance Company
It is rewarded with the title of one of the top general insurance companies of India. One of the most popular general plans of this company are personal accident plan, international travel insurance plan, critical illness plan and top-up coverage plan. The claim ratio of this general insurance plan is 51.97% respectively. The claim settlement procedure of this company is easy and can be done within 30 days.
Different Types of General Insurance Company and Policy in India
Most of the general insurance companies offer health insurance policies that cover all the serious medical expenses of the policyholder at an affordable premium. Although every health insurance policy covers different medical expenses, but they mainly covers;
- Accidental coverage.
- Daycare procedures.
- Regular health checkups.
- Annual health checkups.
- Psychiatric support.
A car insured designed by the top general insurance companies in India to offset the loss due to damage. If you handling a car then you should definitely opt for the car insurance from the best general insurance companies in India. The car insurance mainly covers;
- Damage caused in the accident.
- Damage caused by the theft.
- Provides benefits to the survivor in the event of a car accident.
- If you pay high premium then you should get the maintenance coverage.
- Damage caused by the natural calamities.
This plan is designed by the general insurance companies in India to give a support when a person travels. There are many unforeseen circumstances like fight cancellation, medical emergency, luggage theft ruin our vacation. A travel insurance offers you a coverage against all these circumstances and make your travel hassle-free. Types of travel insurance.
- Solo travel insurance plan.
- Family travel insurance plan.
- Senior citizen travel insurance plan.
- Student’s travel insurance plan.
This plan is designed by the general insurance companies in India to compensate if a tragedy like theft occurs in the home. Many times, a small fire damage our house, a robbery falls into trouble, but if you have a home insurance you will get the compensate against it.
- Coverage against theft, natural calamities and fire.
- This plan increases the value of the home.
- Gives a peace of mind to live in house.
A commercial insurance plan is designed by the best general insurance companies in India to offer the coverage against the financial loss happened in the business. If you are running a business then you should definitely opt for the commercial insurance plan from the best general insurance companies in India.
- This insurance protects your premises.
- This insurance also gives coverage against the accident of the commercial vehicle.
- Manage the loss that occurs due to legal issues.
A marine insurance is only provided by the top general insurance companies in India. It gives you a coverage against the damage or loss of ships, terminals, and any point between the transport.
- It covers the damage due to insolvency.
- It covers the loss due to delay.
- It covers the due to bad packaging.
Steps to Buy the Insurance Policy
- The first thing you should ask yourself what type of general insurance plan you need and how much you can afford.
- Once you get the answer than the second thing you should do to review the plans of the top general insurance companies in India.
- After comparing their plans, choose the best insurance company. Contact them via email or phone number.
- Ask them questions regarding the plan you are looking for. Once you get satisfied with the answers, you can fill the form online.
- Get all the necessary documents that are mentioned in the plan eligibility criteria.
- Once everything is done in the right direction, then you can choose the flexible and affordable premiums that suit your budget.
We hope this comprehensive guide on the different types of general insurance policies and companies help you a lot to find the high-quality insurance plan from the list of best general insurance companies in India.