Here Are Top two General Insurance Companies and the Plans offered by them

Here Are Top two General Insurance Companies and the Plans offered by them

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It is only humane to care for all of your possessions, not only because you like something, but have also invested in them. Thus, it makes sense to buy a backup plan for all such possessions, for the usual “if something goes wrong” scenario. Whether it is your swanky new Sedan, that lovely and posh 3 BHK apartment or even jewelry, you can buy an insurance policy for it.

A general insurance company provides all of the above insurances and many more. One of the prime reasons for buying an insurance policy for the things you love is the potential financial impact it might have. For instance, if a car meets with an accident, the costs of repair or replacing parts can take a toll on you. If you have an insurance, the repair related expenses and several other expenses are well taken care of. Having an insurance also buys you immunity against both man made as well as natural calamities.

List of top two general insurance companies

There are several parameters you can base your assessment on while zeroing down on the top general insurance companies in the country. Parameters such as product or service innovation, claims settlement ratio, smoother experience, good customer support etc. are the bare minimum. The two general insurance companies which score highly on these parameters are Bajaj Allianz general insurance and Bharti AXA general insurance.

Bajaj Allianz General Insurance

Bajaj Allianz is a joint venture between Allianz SE, one of the leading insurance firms in the world and Bajaj Finserv. While Allianz holds 26% of the shares, Bajaj Finserv holds the remaining 74%. The firm aims to be the first choice of customers when it comes to general insurance. To help them achieve that goal, the firm has set up some strong core values and does a regular check on all of them.

The ability to incorporate customer feedback into the products and services lets them take large strides. Bajaj Allianz has a plethora of general insurance products that you can choose from to meet your needs.

Bharti AXA General Insurance

This joint venture between Bharti Enterprises and the AXA Group was formed back in 2008. Bharti Enterprises holds about 51% of the shares while AXA group is the owner of the remaining 49% of the shares. Though it might seem only as a decade but smart decisions and innovative products ensure that they have a good market coverage.

Bharti AXA facilitates strong online and offline sales via its website and has 87 branches across the country. Of the several accolades that the brand has earned over the years, a double ISO certification of ISO 9001:2008 and ISO 27001:2005 stands out. It simply shows their determination to provide the best services as far as general insurance is concerned.

Their General Insurance Offerings vs that of others

Both the general insurance companies have a lot of products on offer. We will take a closer look at a couple of them and see how things pan out.

  • Critical Illness Insurance

Both the insurers have their own products for critical illness. While Bajaj Allianz provides the higher sum assured at a maximum of Rs.50 lakhs, Bharti AXA provides a slightly longer list of covered critical illnesses. When you look at the competition, a lot of them fall behind these two insurers. Some in terms of sum insured, while others when it comes to coverage of critical illness.

  • Home Insurance

It is almost a no brainer to opt for an insurance for your house. A house is one of the larger investments you will make through a lifetime. And it is prone to a lot of risks and damages. Bajaj Allianz lets you buy a Home insurance policy for a longer period of time or multiple numbers of years together. Bharti AXA on the other hand, provides all the standard home insurance features such as cover against theft, natural calamities etc. On top of that, the policy also provides cover for transit of goods within the country and you can claim any damages to the items in transit. You can also opt for add-ons that provide you with cover against terrorism.

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