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A motor insurance company is an IRDAI-registered business that provides financial protection for vehicles like cars, bikes and commercial vehicles. It offers coverage against accidents, theft, natural disasters and third party liabilities. In this blog post, we shall discuss the top 10 motor insurance companies in India.
Below, we have provided you with the list of top 10 motor insurance companies in India 2025. All of them are registered with the Insurance Regulatory and Development Authority of India.:
Founded in: 2009
SBI General Insurance is one of the top 10 motor insurance companies in India. It was founded in 2009 and is currently headquartered in Mumbai, Maharashtra. It is one of the fastest growing pvt general insurance firms and is backed by State Bank of India. The company upholds a legacy of trust and security. It is one of the most trusted motor insurers in India.
Its motor insurance products include Comprehensive Motor Insurance, Standalone Own Damage Cover and Third Party Motor Insurance. It also offers Add on Covers Under Vehicle Insurance such as zero depreciation cover, engine protection cover and roadside assistance. At present, the Managing Director and CEO of SBI General Insurance is Naveen Chandra Jha.
Since SBI GI isn’t just a motor insurance company but a full-fledged gen insurance company, it also offers gen insurance products like insurance for travel, energy, marine, property and casualty as well as specialized financial lines. It has received many accolades for its excellence across various domains.
Some of them are winner in the Large General Insurance category at the Mint BFSI Summit & Awards, the 3rd InsureNext Awards 2024 for Best Claims Settlement and India’s Best General Insurer of the Year at the 7th Insurance Conclave Awards. In addition to these awards, the company secured titles for General Insurance Company of the Year and Leading Implementer of Analytics Technology in Insurance at the India Insurance Summit & Awards 2024.
Founded in: 2001
Bajaj Allianz General Insurance Company is one of the best general insurance companies in India. The company is a joint venture between Allianz SE - the world’s leading insurer and Bajaj Finserv Ltd. Bajaj Allianz has offices in over 1100 towns and cities. Its headquarters are in Pune, Maharashtra.
The insurance company received certificate of registration from Insurance Regulatory and Development Authority of India (IRDAI) on 2 May 2001 to conduct gen insurance business in the country. The Managing Director and CEO of Bajaj Allianz is Tapan Singhel since April 2012.
Bajaj Allianz is one of the largest general insurers in India. It offers two wheeler insurance as well as four wheeler insurance. The company has 8000+ network hospitals, 6,500+ network garages, 98% claim settlement ratio and 24x7 claim assistance.
Founded in: 2016
Acko Insurance is a leading insurance company in India. It was founded in November 2016. In September 2017, the company received an insurance license from the Insurance Regulatory and Development Authority of India.
At present, Acko CEO and Managing Director is Animesh Kumar Das. Its non-executive director is Varun Dua - the Founder of Acko. The company follows an online led model and the operations for the company are offered through the Acko digital platform.
The retail products offered by the company include motor insurance, in trip domestic insurance and mobile insurance. The company is the protection destination for over 200 million tech savvy families across the country, protecting their money, assets and family.
Founded in: 2002
HDFC Ergo GI was incorporated in 2002 as a joint venture between HDFC Ltd and ERGO International AG - the primary entity of Munich Re Group. The company offers a wide range of insurance products for its retail as well as corporate clients.
It offers motor, health, travel, home and personal accident insurance. It also provides liability, property and marine insurance. The company is headquartered in Mumbai, Maharashtra. The vision of the company is to be the most admired insurance company and focus on customer well-being and service.
HDFC Ergo has a network of branches spread across a wide distribution network. It has a 24x7 support team to offer smooth customer service and innovative solutions to the customers.
Founded in: 2000
IFFCO Tokio is a popular general insurance company. It is one of the top 10 car insurance companies in India. The company was formed in 2000 as a joint venture between the Indian Farmers Fertiliser Co-operative Limited (IFFCO) - the world's largest fertilizer manufacturer and Tokio Marine Group - one of Japan's largest insurance groups.
IFFCO holds a 51% stake in the company while Tokio Marine Group holds the remaining 49%. The company provides a broad range of insurance products including Car Insurance and Two-Wheeler Insurance. It also provides Health Insurance, Travel Insurance and Home Insurance as well as corporate policies like property and liability insurance.
This company was the first company in India to underwrite large-scale policies. Their detailed policy is based on international rates, which helps optimize premium expenditures for clients while offering an all risk cover in a single solution. In addition to conventional products, IFFCO Tokio offers specialized products such as Cyber Insurance, Credit Insurance, Fine Arts Insurance, P&I Insurance and Errors & Omissions Insurance for the IT sector.
Founded in: 2015
Zurich Kotak General Insurance Company (India) Limited is a joint venture between Zurich Insurance Group and Kotak Mahindra Bank, with Zurich holding a 70% stake and Kotak owning 30%. It is one of the best motor insurance companies in India.
The company adopted its new name in August 2024 after Zurich Insurance Group’s acquisition of 70% of Kotak Mahindra GI Company Limited. It has quickly established itself as one of the youngest and fastest-growing non-life insurance franchises in India.
Founded in 2015, Kotak General Insurance was created to address the growing demand for non-life insurance in India. The company aims to serve a wide range of customer segments and geographic areas by offering a variety of non life insurance products, including motor, health, and home insurance.
Kotak General Insurance focuses on providing a differentiated value proposition by offering customized products and services, making use of state-of-the-art technology and digital infrastructure.
Founded in: 2001
Another company in our list of top motor insurance companies in India is Tata AIG. The company commenced operations on 22 January 2001. Tata AIG General Insurance is a joint venture between Tata Group and American International Group. The insurer has experienced significant growth and become one of the most preferred private general insurances providers in India.
It is driven by a mission to create better tomorrows for customers through trustworthy and innovative risk solutions. Tata AIG offers a broad portfolio of protection coverage. This portfolio is backed by years of professional expertise, exceptional service capabilities and a smooth claim management process.
The company provides a wide range of products for both businesses and individuals incl. Liability, Marine Cargo, Personal Accident, Travel, Rural Agriculture Insurance and Extended Warranty among others.
It has more than 240 offices across the country. It has established a robust multi channel distribution network that consists of over 102,142 licensed agents, more than 685 licensed brokers and various bancassurance partners.
Founded in: 2000
Royal Sundaram General Insurance (formerly known as Royal Sundaram Alliance Insurance Company) is a leading pvt sector general insurer. The company is one of the top 10 car insurance companies and also provides other gen insurance products. The company received its IRDAI license in October 2000.
The company was initially promoted as a joint venture by Sundaram Finance - a highly respected NBFC in India, along with other Indian shareholders. In February 2019, Ageas Insurance International N.V. acquired a 40% equity stake in Royal Sundaram from existing Indian shareholders after obtaining the necessary regulatory approvals.
Following this divestment, Sundaram Finance retains a 50% stake in Royal Sundaram GI company, Ageas Insurance holds 40%, and the remaining 10% is held by other Indian shareholders. The company is committed to innovation and has been providing comprehensive gen insurance solutions to individuals, families and businesses.
Royal Sundaram offers a wide range of insurance products, including Motor, Health, Personal Accident, Home and Travel Insurance for individual customers. For commercial clients, it provides specialized insurance solutions that cover fire, marine, engineering, liability and business interruption risks. The company’s products are distributed through various channels, including agents, distribution partners, affinity partners, brokers and online platforms.
Founded in: 2001
Chola MS General Insurance Limited was founded in 2001. It is one of the most popular GI companies in India. It is headquartered in Chennai, Tamil Nadu. Chola MS General Insurance CEO and Managing Director is V. Suryanarayanan.
Chola MS GI is a joint venture between the Murugappa Group and Japan’s Mitsui Sumitomo Insurance. The company provides a wide portfolio of insurance solutions incl. motor, health, property, accident, liability, marine, travel, crop and engineering coverage for both individuals and businesses. In FY 2024-25, it reported a Gross Written Premium of Rs. 83,277 million.
With 189 branches and a network of over 35,000 intermediaries nationwide, Chola MS follows its core philosophy of T3 i.e., Trust, Transparency and Technology. Its commitment to service and innovation has earned it multiple recognitions time to time from the Government of India and global institutions.
Founded in: 2016
Go Digit offers a wide range of insurance products like Motor Insurance (for cars, two-wheelers and commercial vehicles), Health Insurance, Travel Insurance, Property Insurance (home insurance), Mobile Insurance, Liability Insurance and other niche products like bicycle insurance.
The company was founded in 2016 by Kamlesh Goyal. It is a Bengaluru based digital-first insurer backed by Fairfax Group along with inventors like A91 Partners and Faering Capital. Known for its transparent and customizable policies, Go Digit emphasizes on customer centricity by offering features like paperless processes and smartphone enabled self inspections for claims.
At present, the CEO of Go Digit is Jasleen Kohli. By making use of digital platforms and automation, the company delivers a smooth experience for customers and also drives innovation in the Indian insurance sector.
In this blog post, we provided you with the list of top 10 motor insurance companies in India. They are: (i) SBI General Insurance, (ii) Bajaj Allianz GI, (iii) Acko, (iv) HDFC Ergo, (v) IFFCO Tokio, (vi) Zurich Kotak, (vii) Tata AIG, (viii) Royal Sundaram, (ix) Chola MS and (x) Go Digit. They are registered with the Insurance Regulatory and Development Authority of India and possess IRDAI licenses. If you want to start your own insurance company, you must secure an IRDAI license. Without this license, you cannot provide insurance products and services in India. For assistance in obtaining this license, you can connect with our experts at Registrationwala.
Disclaimer: The rankings in this article are based on the author’s personal opinion and may or may not represent the views of the general public/institutions/organizations. We do not guarantee the completeness, reliability or 100% accuracy of the content. Readers must do their own research and verify facts independently.
Q1. When was Zurich Kotak established?
A. It was established in the year 2015.
Q2. Who is the Founder of Go Digit?
A. Go Digit Founder is Mr. Kamlesh Goyal. He is also the Chairman of the company.
Q3. Who is the CEO of MS Chola?
A. MS Chola CEO is Mr. V. Suryanarayanan. He is also the Managing Director of the company.
Q4. Which authority issues insurance licenses to insurance companies and agents in India?
A. The Insurance Regulatory and Development Authority of India, abbreviated as IRDAI or IRDA, is responsible for issuing insurance licenses to companies and agents in India.
Q5. What is Bajaj Allianz General Insurance Company?
A. It is an Indian General Insurance company, and is a joint venture between Allianz SE and Bajaj Finserv Ltd.
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