HDFC ERGO Car Insurance

HDFC ERGO General Insurance Company Limited is an alliance between HDFC Ltd. and ERGO International AG. ERGO is a part of Munich Re Group, a Germany based company with 49% holdings in the partnership and HDFC (The Housing Development Finance Corporation) on the other hand enjoys a majority of 51% of the holdings. The joint venture was formed in the year 2002. The firm is often reckoned as a public company. However, it is categorized as an Indian Non-Government company.

HDFC ERGO offers a wide range of products in the market. Retail products like car insurance, bike insurance, health insurance, travel insurance, personal accident and home insurance are provided. The list does not end here. From rural products like crop insurance and Gramin Suraksha Bima to commercial products like liability insurance, engineering insurance, and property insurance, HDFC ERGO introduces a varied range of products.

The company certainly ranks as one of the big names in the country’s private sector of general insurers. HDFC ERGO envisions to be one of the finest and most valued insurers in the business. Prompt response to customer needs is one of the key features of the company’s services. The firm is headquartered in Mumbai with its presence in 106+ Indian cities. HDFC ERGO General Insurance Company Limited operates in 120+ branches.

HDFC ERGO Car Insurance

HDFC Ergo is a well-known name in the insurance industry which is known for offering car insurance at an affordable price to the masses. A car insurance policy is a safety net that offers protection to the car owner from any kind of damages incurred due to theft, fire, accident or any third party liabilities that may happen in the event of a mishap. At the time of buying an insurance plan for your car, you must be aware of the 3 types of bike insurance plans commonly available in India. The three main types of car insurance plans offered by HDFC Ergo are namely Comprehensive, Standalone Own Damage and Third Party Car Insurance Plan.

HDFC Ergo Comprehensive car insurance plan offers holistic coverage to the policyholder as this insurance plan offers protection against both own damage expenses as well as third party liabilities. This is not a mandatory insurance plan, however, the most recommended one.

HDFC Ergo standalone own damage car insurance plan provides compensation towards repair cost incurred due to losses or damages sustained by own vehicle due to any accident or mishap such as man made calamities, fire, explosion, etc. This policy does not offer coverage against any third party liabilities.

HDFC Ergo third party car insurance plan offers coverage and compensation towards any third party liabilities be it both third party person or third party property that can arise because of a mishap. It is a compulsory insurance plan for every car owner according to the Indian Motor Tariff Act.

HDFC Ergo also offers several types of add-on covers that can be bought alongside comprehensive car insurance plans and standalone own damage plans to enhance the plan coverage. To include add-on covers to your plan is optional and gives you the freedom to choose one based solely on your needs.

Significant Points of HDFC ERGO Car Insurance