{"buttonLabel":"Get a Quote","productCollection":"car_insurance_companies","productId":"14","productLink":"https:\/\/www.edelweissinsurance.com\/car","productName":"Edelweiss Car Insurance"}
{"buttonLabel":"Get a Quote","productCollection":"car_insurance_companies","productId":"14","productImage":"referral_logos\/in\/insurance\/edelweiss-1","productLink":"https:\/\/www.edelweissinsurance.com\/car","productName":"Edelweiss Car Insurance"}

Edelweiss Car Insurance Review: A Risky Choice

Edelweiss General Insurance offers four different levels of car insurance, and their policies are best suited for used car drivers. They have a fast and convenient online purchasing process, but a poor claim settlement rate and a weak incurred claims ratio make them one of the riskier car insurers in India.

Edelweiss Car Insurance Review: A Risky Choice

Edelweiss General Insurance offers four different levels of car insurance, and their policies are best suited for used car drivers. They have a fast and convenient online purchasing process, but a poor claim settlement rate and a weak incurred claims ratio make them one of the riskier car insurers in India.

Editor's Rating

3.0/5.0

Good for

  • Consumers seeking a car insurance plan online
  • Used car drivers

Bad for

  • Consumers looking for an abundance of discounts
  • Drivers needing a variety of unique add-on coverages

Edelweiss General Insurance offers two different comprehensive car insurance policy options: Cruise Mode and Max Mode. Cruise Mode is their standard plan with base comprehensive coverage, and Max Mode is their enhanced coverage plan. Both cover damages to the insured vehicle from natural and man-made calamities, third party damages and injuries, and both include personal accident coverage for the owner or driver, but Max Mode comes with additional layers of coverage. For consumers in need of less coverage, Edelweiss also offers a standalone own damage policy and a third party liability policy.

Their cheapest plans are for used cars, with annual premiums up to 28% below the national average. Edelweiss provides up to 13 add-on options to expand the score on your coverage, and four discounts to better fit a new policy into your budget. The company's online purchasing process is smooth and modern, but consumers are unable to purchase a policy for a new car on their website.

If you're seeking an online policy for your new car, these are some alternatives to consider:

Alternatives We Recommend

{"items":["\u003Cstrong\u003EBest All-Around\u003C\/strong\u003E\n\u003Cdiv class=\"AffiliateBannerMobile--root\"\u003E\n \u003Cdiv class=\"AffiliateBanner--root \"\u003E\n \u003Cdiv class=\"AffiliateBanner--image\"\u003E\n \u003Cdiv class=\"ShortcodeImage--root \"\u003E\n \u003Cdiv class=\"ShortcodeImage--image-container\"\u003E\n \u003Ca class=\"js-event-click\" data-eventcategory=\"Affiliate car_insurance_companies: Reliance General Insurance - Image\" data-eventlabel=\"Reliance General Insurance\" rel=\"nofollow noopener\" target=\"_blank\" title=\"Reliance General Insurance\" href=\"\/redirect\/car_insurance_companies\/11?link=https%3A%2F%2Faffiliate.valuechampion.in%2Fredirect%3Flink%3Dhttps%253A%252F%252Fwww.reliancegeneral.co.in%252FInsurance%252FMotor-Insurance%252FCar-Insurance.aspx\"\u003E\u003Cimg alt=\"Reliance General Insurance\" class=\"ShortcodeImage--image lazyload\" style=\"width: 200px;\" data-src=\"https:\/\/res.cloudinary.com\/valuechampion\/image\/upload\/c_fit,dpr_1.0,f_auto,h_1600,q_auto,w_200\/v1\/referral_logos\/in\/insurance\/reliance-1\" src=\"\/\/res.cloudinary.com\/valuechampion\/image\/upload\/e_blur:1000,q_1,f_auto\/referral_logos\/in\/insurance\/reliance-1\" data-srcset=\"https:\/\/res.cloudinary.com\/valuechampion\/image\/upload\/c_fit,dpr_1.0,f_auto,h_1600,q_auto,w_200\/v1\/referral_logos\/in\/insurance\/reliance-1 1x, https:\/\/res.cloudinary.com\/valuechampion\/image\/upload\/c_fit,dpr_2.0,f_auto,h_1600,q_auto,w_200\/v1\/referral_logos\/in\/insurance\/reliance-1 2x\"\u003E\u003C\/a\u003E\n \n \u003C\/div\u003E\n\u003C\/div\u003E\n \u003C\/div\u003E\n \u003Cdiv class=\"AffiliateBanner--link\"\u003E\n \u003Cdiv class=\"AffiliateButton--root \"\u003E\n \u003Ca data-eventcategory=\"Affiliate car_insurance_companies: Reliance General Insurance - Button\" data-eventlabel=\"Reliance General Insurance\" class=\"ShortcodeLink--root AffiliateButton--button js-event-click\" rel=\"nofollow noopener\" target=\"_blank\" title=\"Reliance General Insurance\" href=\"\/redirect\/car_insurance_companies\/11?link=https%3A%2F%2Faffiliate.valuechampion.in%2Fredirect%3Flink%3Dhttps%253A%252F%252Fwww.reliancegeneral.co.in%252FInsurance%252FMotor-Insurance%252FCar-Insurance.aspx\"\u003EGet a Quote \u003C\/a\u003E\n\u003C\/div\u003E\n \u003C\/div\u003E\n \u003C\/div\u003E\n\u003C\/div\u003E\n\u003Cdiv class=\"AffiliateBannerDesktop--root\"\u003E\n \u003Cdiv class=\"AffiliateBanner--root \"\u003E\n \u003Cdiv class=\"AffiliateBanner--image\"\u003E\n \u003Cdiv class=\"ShortcodeImage--root \"\u003E\n \u003Cdiv class=\"ShortcodeImage--image-container\"\u003E\n \u003Ca class=\"js-event-click\" data-eventcategory=\"Affiliate car_insurance_companies: Reliance General Insurance - Image\" data-eventlabel=\"Reliance General Insurance\" rel=\"nofollow noopener\" target=\"_blank\" title=\"Reliance General Insurance\" href=\"\/redirect\/car_insurance_companies\/11?link=https%3A%2F%2Faffiliate.valuechampion.in%2Fredirect%3Flink%3Dhttps%253A%252F%252Fwww.reliancegeneral.co.in%252FInsurance%252FMotor-Insurance%252FCar-Insurance.aspx\"\u003E\u003Cimg alt=\"Reliance General Insurance\" class=\"ShortcodeImage--image lazyload\" style=\"width: 200px;\" data-src=\"https:\/\/res.cloudinary.com\/valuechampion\/image\/upload\/c_fit,dpr_1.0,f_auto,h_1600,q_auto,w_200\/v1\/referral_logos\/in\/insurance\/reliance-1\" src=\"\/\/res.cloudinary.com\/valuechampion\/image\/upload\/e_blur:1000,q_1,f_auto\/referral_logos\/in\/insurance\/reliance-1\" data-srcset=\"https:\/\/res.cloudinary.com\/valuechampion\/image\/upload\/c_fit,dpr_1.0,f_auto,h_1600,q_auto,w_200\/v1\/referral_logos\/in\/insurance\/reliance-1 1x, https:\/\/res.cloudinary.com\/valuechampion\/image\/upload\/c_fit,dpr_2.0,f_auto,h_1600,q_auto,w_200\/v1\/referral_logos\/in\/insurance\/reliance-1 2x\"\u003E\u003C\/a\u003E\n \n \u003C\/div\u003E\n\u003C\/div\u003E\n \u003C\/div\u003E\n \u003Cdiv class=\"AffiliateBanner--link\"\u003E\n \u003Cdiv class=\"AffiliateButton--root \"\u003E\n \u003Ca data-eventcategory=\"Affiliate car_insurance_companies: Reliance General Insurance - Button\" data-eventlabel=\"Reliance General Insurance\" class=\"ShortcodeLink--root AffiliateButton--button js-event-click\" rel=\"nofollow noopener\" target=\"_blank\" title=\"Reliance General Insurance\" href=\"\/redirect\/car_insurance_companies\/11?link=https%3A%2F%2Faffiliate.valuechampion.in%2Fredirect%3Flink%3Dhttps%253A%252F%252Fwww.reliancegeneral.co.in%252FInsurance%252FMotor-Insurance%252FCar-Insurance.aspx\"\u003EGet a Quote \u003C\/a\u003E\n\u003C\/div\u003E\n \u003C\/div\u003E\n \u003C\/div\u003E\n\u003C\/div\u003E\n\u003Ca class=\"ShortcodeLink--root\" title=\"Reliance Car Insurance Review\" href=\"https:\/\/www.valuechampion.in\/car-insurance\/reliance-car-insurance-review\"\u003ERead More\u003C\/a\u003E","\n\u003Cstrong\u003EBest New\u003C\/strong\u003E\n\u003Cdiv class=\"AffiliateBannerMobile--root\"\u003E\n \u003Cdiv class=\"AffiliateBanner--root \"\u003E\n \u003Cdiv class=\"AffiliateBanner--image\"\u003E\n \u003Cdiv class=\"ShortcodeImage--root \"\u003E\n \u003Cdiv class=\"ShortcodeImage--image-container\"\u003E\n \u003Ca class=\"js-event-click\" data-eventcategory=\"Affiliate car_insurance_companies: GoDigit - 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Image\" data-eventlabel=\"Cholamandalam MS\" rel=\"nofollow noopener\" target=\"_blank\" title=\"Cholamandalam MS\" href=\"\/redirect\/car_insurance_companies\/12?link=https%3A%2F%2Faffiliate.valuechampion.in%2Fredirect%3Flink%3Dhttps%253A%252F%252Fwww.cholainsurance.com%252Fcar-insurance\"\u003E\u003Cimg alt=\"Cholamandalam MS\" class=\"ShortcodeImage--image lazyload\" style=\"width: 200px;\" data-src=\"https:\/\/res.cloudinary.com\/valuechampion\/image\/upload\/c_fit,dpr_1.0,f_auto,h_1600,q_auto,w_200\/v1\/referral_logos\/in\/insurance\/CholaMS-3\" src=\"\/\/res.cloudinary.com\/valuechampion\/image\/upload\/e_blur:1000,q_1,f_auto\/referral_logos\/in\/insurance\/CholaMS-3\" data-srcset=\"https:\/\/res.cloudinary.com\/valuechampion\/image\/upload\/c_fit,dpr_1.0,f_auto,h_1600,q_auto,w_200\/v1\/referral_logos\/in\/insurance\/CholaMS-3 1x, https:\/\/res.cloudinary.com\/valuechampion\/image\/upload\/c_fit,dpr_2.0,f_auto,h_1600,q_auto,w_200\/v1\/referral_logos\/in\/insurance\/CholaMS-3 2x\"\u003E\u003C\/a\u003E\n \n \u003C\/div\u003E\n\u003C\/div\u003E\n \u003C\/div\u003E\n \u003Cdiv class=\"AffiliateBanner--link\"\u003E\n \u003Cdiv class=\"AffiliateButton--root \"\u003E\n \u003Ca data-eventcategory=\"Affiliate car_insurance_companies: Cholamandalam MS - 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Summary of Edelweiss Car Insurance
Edelweiss offers two different levels of comprehensive car insurance
Apply any of 5 discounts and 13 add-ons to a new comprehensive policy
Annual policies for used cars are up to 28% cheaper than market average


Edelweiss Comprehensive Car Insurance Plan Reviews

Edelweiss's standard comprehensive car insurance policy is called Cruise Mode. It comes standard with third party coverage, own damage coverage, and personal accident coverage for the owner or driver of the insured car. Cruise Mode policies are most affordable for used cars, with annual premiums starting at Rs. 9,467, 28% cheaper than the market average for a used Honda Amaze.

Bar graph showing premium prices for a used Honda Amaze
Bar graph showing premium prices for a used Honda Amaze

The company's other comprehensive offering is called Max Mode, which includes everything Cruise Mode does, along with three enhanced coverages: roadside assistance, depreciation protection, and mandatory deduction protection, which compensates you for the cost incurred from paying the compulsory deductible amount.

Edelweiss offers up to 13 add-ons for either of their comprehensive plans, which is just below the average number of options among Indian car insurers in our study. Their most unique is the agreed value clause, which is a partial discount as well. By adding the agreed value clause option to your policy - available for vintage cars only - Edelweiss and the policyholder will determine the value of the insured vintage car, instead of using a standard value. In exchange, the policyholder will unlock a vintage car discount.

Add-On CoverageCruise ModeMax Mode
Depreciation CoverageOptionalIncluded
Roadside AssistanceOptionalIncluded
Mandatory Deduction ProtectOptionalIncluded
Engine & Gear Box ProtectionOptionalOptional
Consumable Expense CoverageOptionalOptional
Conveyance BenefitOptionalOptional
Key & Lock ReplacementOptionalOptional
Invoice Price CoverageOptionalOptional
Personal Accident Coverage (Passenger)OptionalOptional
Legal Liability For Paid Driver/WorkerOptionalOptional
No Claims Bonus ProtectionOptionalOptional
Agreed Value ClauseOptionalOptional
Personal Baggage CoverageOptionalOptional
CNG Kit CoverageUnavailableUnavailable
Electrical Accessories CoverageUnavailableUnavailable
Non-Electrical Accessories CoverageUnavailableUnavailable
Small Repair ClaimsUnavailableUnavailable
Daily Cash AllowanceUnavailableUnavailable
EMI ProtectionUnavailableUnavailable
Ambulance Expense CoverageUnavailableUnavailable
Hospital Cash AllowanceUnavailableUnavailable
Medical Expense CoverageUnavailableUnavailable
Personal Belongings CoverageUnavailableUnavailable
Loss of License/Registration ReplacementUnavailableUnavailable

To lower annual premiums even further, Edelweiss offers its policyholders a standard set of five discount options, including the vintage car discount that pairs with the agreed value clause add-on.

DiscountAvailable
No Claims BonusYes
Auto Association MembershipYes
Anti-Theft DeviceYes
Vintage CarYes
Vehicle Modified for HandicappedYes
Voluntarily Increased DeductibleNo
Multi-VehicleNo
Personal InformationNo
Specific LocationNo
Credit ScoreNo

Both of Edelweiss's comprehensive plans come with the same set of exclusions, which are also standard among the 16 car insurance companies in our study:

  • Accidents that occur outside India
  • Driving without a valid license
  • Driving under the influence of drugs or alcohol
  • Staged accidents
  • Consequential losses or damages
  • Speeding, racing, motor trade, using the vehicle for commercial purposes


Edelweiss Third Party and Standalone Plan Review

Edelweiss offers two alternatives to their comprehensive plans - a third party liability only policy and a standalone own damage policy - if you're seeking a cheaper policy, or only need a small scope of coverage.

Their third party policy includes coverage for damages to third party vehicles or properties and for injury or death of a third party due to an accident, but does not provide coverage for any damage to your car or yourself as the owner or driver. You are also unable to include any add-ons or apply any discounts to this plan.

The Indian government regulates third party coverage pricing and terms, including the policy offered by Edelweiss, so all third party premiums from all insurers will cost the same annually.

Engine Capacity (cc)Annual Premium
< 1,000cc₹2,072
1,000cc - 1,500cc₹3,221
1,500cc+₹7,890

Edelweiss's standalone own damage plan is the opposite of the third party plan: it covers damages to your insured car and injuries to yourself as the owner or driver, but does not provide coverage for damages to any third party property or individuals. Third party insurance is the minimum level of car insurance required by the Indian Government, so you must have an active third party policy to activate a standalone plan.

Consumers may purchase a new third party plan right on Edelweiss's website, but you must work with a dedicated insurance agent to purchase a standalone plan, as Edelweiss will need proof of an active third party policy first.


Comparing Edelweiss Against the Market

Edelweiss's customers have awarded them with 4.5-of-5 stars on PolicyBazaar and 4.9-of-5 stars on InsuranceDekho, thanks to strong coverage - both standard and through add-ons - and responsive customer service agents. However, there are drawbacks with Edelweiss that consumers should be aware of.

The company's 86.9% claim settlement rate is the worst among insurers in our study, so there is an increased risk that your claim will not only take a while to be settled, but may also experience some obstacles throughout the process.

Edelweiss also has a 145% incurred claims ratio (ICR), which sounds like it far exceeds expectations, but actually is the worst of any insurer in our study. An ICR that exceeds the 100% threshold by that much indicates that a bulk of annual premiums are used to cover risk transfer, a red flag for consumers. The healthy and optimal range for a car insurer is 75-90%, which indicates a strong ability to settle claims against annual premium collection.

EdelweissMarket Average
Market Share0.14%3.57%
Incurred Claims Ratio145%90%
Claim Settlement Rate86.9%94.3%
Cashless Garages1,5003,870
PolicyBazaar Star Ratings4.5 (27 reviews)4.2 (22 reviews)
InsuranceDekho Star Ratings4.9 (118 reviews)4.9 (167 reviews)

The company also has a very small network of cashless garages. With 2,000 fewer cashless garages than the market average, there's a chance that there may not be a convenient repair option in your area, in case of an accident.


Online Car Insurance Buying Platform

Edelweiss's step-by-step online buying process is modern, fast, easy-to-use, and is one of the smoothest tools we studied.

There's no status bar to show you how far along you are in the quoting process, and there isn't an option to receive a copy of your quote via email, SMS or WhatsApp, but consumers do have the option to apply discounts online. This is only offered by half of the insurers we analysed, and makes the purchasing process much quicker and avoids having to work with a sales representative.

Edelweiss also does not allow policies for new cars to be purchased online. If your car was manufactured and purchased in the current calendar year, Edelweiss requires you to work with an agent to get a new insurance plan. The most recently-made cars that can buy an online policy are those manufactured in the previous year.

The company's website, like its quoting tool, is also very modern and simple to understand, but there are few useful tools for consumers to take advantage of. You unfortunately cannot retrieve old quotes and there is no office branch locator, so you'll need to get in touch with your agent to find an Edelweiss office in your area. Edelweiss's website does have a garage locator, which will show you all in-network cashless garages in your area.

Edelweiss also does not offer a car insurance calculator for consumers to estimate their annual premium costs, and does not have a live chat option if you need further assistance.


Claims Settlement Process

To submit a claim through Edelweiss, you must do so over the phone or via email. They do not offer the option to submit through an app or on their website. However, they do guarantee quick claim settlements, although they do not provide a suggested timeframe.

Uniquely, Edelweiss does allow their policyholders to bring their damaged car to a network garage before filing a claim if that's the most convenient option.


Mike Wagenman

Mike Wagenman is a Senior Research Analyst at ValueChampion India, specializing in insurance. He holds a Bachelor of Arts degree in Communication and Business from Rider University, and his prior work experience includes data, revenue, and business analysis in the international travel and technology markets. Mike has worked with clients around the world to help identify financial value and find the most optimal way to achieve success.