An iconic metropolitan city, Chennai has been one of the major industrial, educational, cultural and commercial hubs of India. The city is often also referred to as the ‘Detroit of India’ for it serves as a base for about 30% of the nation’s automobile industry and approximately 40% of the automotive components industry. Automotive giants BMW, Diamler AG, Royal Enfield, Mitsubishi, Hyundai, Robert Bosch, Ford and many others have set up manufacturing units in Chennai.
As one of the rapidly growing cities, Chennai has a teeming population, majority of which relies on personal vehicles for conveyance. However, with the rising number of vehicles, traffic congestion and instances of motor accidents are also on an upswing. Owing to such conditions, car insurance has become more of a necessity than a choice for vehicle owners. In the unfortunate event of an accident, car insurance will prove to be of great help by covering the cost of damages.
Many car insurance companies in Chennai provide customers with one-of-a-kind insurance solutions to fit their specific needs. With branch offices located at multiple places across the city and fully functional websites, applying for insurance has become easier than ever. Customers can not only apply for online car insurance policies but also go in for car insurance renewals in Chennai, right from the comfort of their home.
Here Is A List Of Some Of The Leading Car insurance Companies In ChennaiICICI Lombard General Insurance
ICICI Lombard General Insurance is a joint venture between ICICI Bank Limited and Fairfax Financial Holdings Limited, a Canada based financial services company. India’s second largest bank, ICICI Lombard has two branches in Chennai.Bharti AXA General Insurance
A joint initiative between Bharti Enterprises and AXA, a world leader in financial services, Bharti AXA General Insurance have one branch in Chennai.TATA AIG General Insurance
TATA AIG General Insurance is an Indian general insurance company which is also a joint venture between the TATA group and American International Group (AIG) and currently has 4 offices in Chennai.Royal Sundaram General Insurance
Royal Sundaram General Insurance is a joint initiative between Sundaram Finance and Royal & Sun Alliance Insurance, UK. They are India’s first private sector general insurance company and have four branches in Chennai.United India Insurance
United India Insurance Company is a public sector general insurance company (wholly owned by government of India). It is also one of the top general insurance companies in Asia with 2 offices in Chennai.Cholamandalam MS General Insurance
Cholamandalam MS General Insurance, an Indian assurance company, is a joint venture between the Murugappa Group and the Mitsui Sumitomo Insurance Group, a Japanese assurance company. They have 7 branches located in Chennai.HDFC ERGO General Insurance
HDFC ERGO General Insurance is a joint venture between HDFC Ltd. and ERGO International AG, a primary insurance organization that is part of the Munich Re Group. They have 2 offices operating in Chennai.
GST Update: GST of 18% is applicable on car insurance effective from the 1st of July, 2017