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General Insurance

For all the uncertainties we face on a daily basis, insurance seems to be a practical solution. An insurance policy gives you the assurance that even if things go out of hand, you will have financial back-up to cover the losses. We can divide insurance into two broad categories: life insurance and general insurance. While life insurance covers the life of a person, general insurance is for non-life assets. If you wish to know more about general insurance and how it can help protect your savings, read on.

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Understanding General Insurance in India

From your home to your car, from your workplace to your precious artwork, general insurance allows you the power to safeguard your tangible assets. Unlike a life insurance policy, which offers long-term coverage, general insurance policies are typically renewed on an annual basis. Given below are some of the common categories that are offered under general insurance in India:
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A health insurance plan is an insurance coverage that covers the expenses you may have to bear in case of hospitalisation. It is an affordable way to prevent digging into your hard-earned savings in case of a medical emergency. Today, when healthcare expenses are at an all-time high, having health insurance for yourself and your family is nothing less than a basic necessity.

With Jio Insurance Broking, buying health insurance is super easy! You just need to fill in your details, and in a few moments, you will get premium quotes from top insurers.

List of General Insurance Companies in India

Listed below are the general insurance companies in India. We have further divided them into public, private sector and standalone health insurance companies:

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List of companies, These are:

  1. Tata-AIG General Insurance Company Limited
  2. Liberty General Insurance Company Limited
  3. Navi General Insurance Limited
  4. Raheja QBE General Insurance Company Limited
  5. Future Generali India Insurance Company Limited
  6. Cholamandalam MS General Insurance Company Limited
  7. Reliance General Insurance Company Limited
  8. ECGC Company Limited
  9. Universal Sompo General Insurance Company Limited
  10. Acko General Insurance Limited
  11. United India Insurance Company Limited
  12. Magma HDI General Insurance Company Limited
  13. HDFC ERGO General Insurance Company Limited
  14. Bajaj Allianz General Insurance Company Limited
  15. ICICI Lombard General Insurance Company Limited
  16. Royal Sundaram General Insurance Company Limited
  17. SBI General Insurance Company Limited
  18. Edelweiss General Insurance Company Limited
  19. Shriram General Insurance Company Limited
  20. Go Digit General Insurance Limited
  21. IFFCO-TOKIO General Insurance Company Limited
  22. Kotak Mahindra General Insurance Company Limited

Choosing the Right General Insurance Company

The above-mentioned list of general insurance companies in India is a clear reflection of the wide range of options you have when it comes to buying general insurance. But at the same time, this choice can leave you a little confused. Of course, you want to pick the best general insurance company in India, but the criteria of the best company can vary from person to person. However, to help you through, we have listed a few factors that you can consider when you are shortlisting. A careful analysis of the companies can help you in making a well-informed decision.

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Check the company claim ratio

A company’s claim settlement ratio and its claim turnaround time are significant factors. A high claim settlement ratio (above 90%) shows better chances of claims being settled. Also, keep an eye on the incurred claim ratio, which should be 70% to 90%.

Compare the quotes being offered

Comparing different companies and the premiums they are charging is another important that you need to consider. While all companies offer a long list of benefits, it is recommended that you carefully analyse the coverage and then pick a policy.

Pro Tip: Do not be too tempted to choose the cheapest policy available. Rather, look for one that offers wider coverage and fits your budget.

Jio Insurance Broking makes it very easy for you to shortlist the policies you are looking for. Fill in the required details and instantly get quotes from the top insurance companies.

The company’s network

If you are planning to buy health insurance or motor insurance, it is suggested that you also check the insurer’s network of hospitals and garages, respectively. A wider network allows you the freedom to enjoy cashless claims at network hospitals/ garages, where your insurer will clear the bill directly.

Know the company’s reputation

Choosing a reputed insurance company is important. You can go through the online reviews and ratings to get a fair idea of the company’s reputation. A background check of the company’s financial history can give you an idea of how the company’s capability to pay claims easily.

Let’s Wrap It Up

General insurance can be a useful investment. Protecting your health and your tangible assets through the right insurance policy can come to your rescue in case of an unplanned and unfortunate event. 

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Jio Insurance Broking Ltd

Jio Insurance Broking Limited
IRDAI License No: 347,
Direct Broker (Life & General),
Valid upto: 11/03/2028
(Renewable)

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Email Id
customer.care@jioinsure.in
CIN

U67200MH2006PLC165651

Registered office address

1st Floor, Building - 4NA, Maker Maxity, Bandra Kurla Complex, Bandra East, Mumbai, Maharashtra - 400051

Discount is offered by the insurance company as approved by IRDAI for the product under file & use guidelines.

Insurance is a subject matter of the solicitation. For more details on policy terms, conditions, exclusions, limitations, please refer/read policy brochure carefully before concluding sale.

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