Insurance Prices For Best Cars Under 20 Lakhs In India 2024

Updated On: 2023-08-21

Author : Team Policybachat

Are you ready to drive home your dream car under 20 lakhs? Exciting as it may be, there's one crucial aspect you shouldn't overlook – insurance. Before you hit the road in that shiny new vehicle, understanding the world of insurance prices is necessary. This article is your ultimate guide to finding the perfect insurance match for the best cars in India under 20 lakhs. We're here to ensure your car-buying journey is not only thrilling but also financially secure. So, fasten your seatbelt as we navigate through the world of insurance costs and empower you to make an informed decision.

Car Insurance Prices

Find the Best Insurance Prices for Car under 20 Lakhs

In a bustling country like India, where cars have become more than just a means of transport, navigating the car market can feel like an exhilarating journey. From sleek hatchbacks to powerful SUVs, the options are diverse and exciting. But as you embark on the quest to find the perfect car under 20 lakhs, there's a vital checkpoint that should never be missed – insurance costs.

Imagine this: you're about to take the wheel of your dream car, the wind in your hair, the open road stretching ahead. Now, picture the peace of mind that comes with knowing your prized possession is safeguarded by the right insurance. This article isn't just about figures and premiums; it's about securing your adventures and ensuring your financial safety net. So, as we delve into the realm of insurance prices for the finest cars under 20 lakhs, you're not just reading words – you're unlocking a world of informed decisions and worry-free drives.

Cars Make & Model Insurance Prices
Mahindra Thar Rs. 4328*
Kia Seltos Rs. 5273*
Hyundai Creta Rs. 4832*
Toyota Innova Crysta Rs. 6263*
Mahindra XUV700 Rs. 4239*
Hyundai Verna Rs. 6282*
TATA Harrier Rs. 3162*
Mahindra Scorpio N Rs. 6532*
Maruti Jimny Rs. 3412*
Toyota urban Cruiser Hyruder Rs. 4264*
MG Hector Rs. 5279*
Honda City Rs. 6128*
TATA Safari Rs. 4323*
Volkswagen Virtus Rs. 4726*
Skoda Kushaq Rs. 5421*
Volkswagen Taigun Rs. 6216*
Mahindra Scorpio Classic Rs. 7262*
Force Gurkha Rs. 8326*
Tata Nexon EV Prime Rs. 4217*
Isuzu Hi-Lander Rs. 5328*

*All the above mentioned values are for user reference purposes for exact values compare car insurance quotes.*

Factors Influencing Insurance Prices for Best Cars Under 20 Lakhs:

  • Car's Make and Model: The specific make and model of your car play a significant role in determining insurance costs. High-end or luxury vehicles generally have higher repair and replacement costs, leading to elevated premiums. On the other hand, affordable and commonly-owned models might have more reasonable insurance rates.
  • Engine Capacity and Performance: The engine capacity and performance of your car directly impact insurance prices. Cars with more powerful engines tend to have higher speeds and greater accident risks, potentially resulting in increased insurance premiums.
  • Safety Features and Ratings: The safety features equipped in your car can affect insurance costs. Vehicles with advanced safety technologies like anti-lock brakes, airbags, collision avoidance systems, and high safety ratings might lead to lower insurance rates due to reduced risk of accidents and injuries.
  • Age of the Car: The age of your car also influences insurance prices. Newer cars might have higher premiums due to their higher replacement costs, while older cars could have lower premiums but might lack certain safety features that newer models offer.
  • Location and Usage: Where you live and how you use your car play a crucial role. Urban areas or regions with higher rates of accidents and theft might result in higher insurance premiums. Similarly, if you use your car for daily commuting or long distances, it could impact your insurance costs.

Understanding how these factors interplay can empower you to make informed decisions when selecting insurance coverage for your car under 20 lakhs.

Cars Models Third Party Car Insurance Comprehensive Car Insurance
Hyundai Creta Rs.8,000* Rs.15,000*
Kia Seltos Rs.9,500* Rs.16,500*
Maruti Suzuki Vitara Brezza Rs.7,000* Rs.12,800*

*All the above mentioned values are for user reference purposes for exact values compare car insurance quotes.*

Top 5 Cars Under 20 Lakhs in India

Consequently, numerous automobile manufacturers have crafted models uniquely tailored to suit the Indian market, seamlessly integrating affordability, practicality, and aesthetics. The persistent desire for budget-friendly cars priced below 20 lakhs in India is poised to retain its robustness, underscoring its significance within the nation's automotive sector. While the optimal choices for the finest sub-20 lakh cars in India might differ based on personal inclinations and requirements, they generally encompass these key elements:

  • Pricing
  • Features
  • Performance
  • Fuel efficiency
  • Dependability
  • Brand standing.

List of Popular Cars under 20 lakhs with their Pricing, Features, and Specifications:-

Cars Price Specifications
Hyundai Creta Rs. 10.87 Lakh - Rs. 19.20 Lakh
  • Compact SUV known for its stylish design and advanced features.
  • Multiple engine options and spacious interiors.
  • Impressive safety features including airbags and stability control.
Kia Seltos Rs. 10.90 Lakh - Rs. 20 Lakh
  • A versatile SUV with modern aesthetics and cutting-edge technology.
  • Turbocharged engines for a dynamic driving experience.
  • Well-equipped with infotainment and connectivity options.
Maruti Suzuki Vitara Brezza Rs. 8.29 Lakh - Rs. 14.14 Lakh
  • India's best-selling compact SUV with a reliable performance.
  • Fuel-efficient engine with a spacious cabin.
  • Known for its affordable maintenance costs.
TATA Nexon Rs. 7.99 Lakh – Rs. 14.60 Lakh
  • Stylish subcompact SUV offering a combination of safety and features.
  • Available in both petrol and diesel variants.
  • 5-star Global NCAP safety rating for top-tier protection.
Honda City Rs. 11.57 Lakh - Rs. 16.05 Lakh
  • Iconic sedan with a blend of elegance and performance.
  • Efficient engines with a comfortable and feature-rich interior.
  • Known for its smooth ride and refined driving experience.

*Note that the abovementioned prices are ex-showroom and may vary depending on the location and dealer.*

Case Study: Toyota Corolla - Safety in Every Journey

Let's delve into the case of the Toyota Corolla, a widely acclaimed sedan known for its reliability and safety features.

  • Comprehensive Insurance Premium: Rs.11,000* per annum
  • Coverage: Protection against accidents, theft, damage, and third-party liability.
  • Additional Coverage: Zero Depreciation Add-On for enhanced coverage on parts replacement.
  • Third-Party Insurance Premium: Rs. 9,500* per annum
  • Coverage: Liability coverage for third-party injuries, damages, and legal obligations.

Testimonial 1: "As a proud owner of a Toyota Corolla, I was pleasantly surprised by the reasonable insurance premium quotes I received. The comprehensive coverage not only assures me of financial security in case of an accident but also the peace of mind that my investment is safeguarded. The inclusion of zero depreciation add-on further convinced me that my insurance provider values my car's longevity."

Testimonial 2: "The Toyota Corolla has been my family's choice for years, and its reputation for safety was a significant factor. When I compared insurance quotes for my Corolla, I found that its advanced safety features led to a reduced premium. It's a reassuring feeling to know that our car is equipped with the latest technology, and that's reflected in our insurance savings."

These testimonials highlight how the Toyota Corolla's safety features translate into practical benefits beyond the road. The combination of a reasonable premium, comprehensive coverage, and appreciable add-ons solidify the Corolla's reputation as a reliable and secure choice in the Indian car market. Through this case study, we can witness how specific car models like the Toyota Corolla can leverage safety features to offer not only peace of mind but also financial advantages through tailored insurance options.

Tips to Lower Insurance Premiums for Cars under 20 lakhs:

  • Optimal Coverage Selection: Evaluate your insurance needs carefully and choose coverage that aligns with your requirements. If your car is relatively older, opting for comprehensive coverage might not be necessary, leading to reduced premiums.
  • Defensive Driving Courses: Enrolling in a certified defensive driving course showcases your commitment to safe driving. Many insurance companies offer discounts to drivers who have completed such courses, as they are considered less risky on the road.
  • Installation of Anti-Theft Devices: Equipping your car with anti-theft devices like alarms, immobilizers, and GPS trackers can deter theft and reduce the risk of loss. Many insurers offer discounts for vehicles with enhanced security measures.
  • Maintaining a Good Driving Record: A clean driving history with no accidents or traffic violations is a strong indicator of responsible driving. Insurance companies often reward such behavior with lower premiums.
  • Bundle Insurance Policies: Consider consolidating your insurance policies, such as car and home insurance, with the same provider. Bundling policies can lead to significant discounts on both premiums, saving you money in the long run.

By implementing these practical strategies, you not only ensure that you're paying a reasonable premium for your car under 20 lakhs but also showcase a commitment to safety and responsible driving, which can translate into long-term savings.

Impact of Safety Features on Premiums for Cars Under 20 lakhs:

Safety features aren't just protective measures; they can also lead to lower insurance costs. Cars equipped with advanced safety technologies significantly reduce the risk of accidents and severe injuries. Insurance companies recognize this reduced risk, often offering discounts or lower premiums for vehicles with comprehensive safety features. By investing in safety, you're not only safeguarding lives but also unlocking potential savings on your insurance bills.

  • Anti-lock Braking System (ABS): Prevents wheels from locking during hard braking, enhancing control and minimizing collisions.
  • Electronic Stability Control (ESC): Helps maintain stability during challenging driving situations, reducing the chances of skidding or loss of control.
  • Airbags: Instantly deployable cushions that minimize passenger injuries during impacts.
  • Collision Avoidance Systems: Utilizes sensors to detect potential collisions and autonomously applies brakes, reducing accidents.
  • Lane Departure Warning (LDW): Alerts drivers if they drift out of their lane, minimizing the risk of side collisions.
  • Adaptive Cruise Control (ACC): Maintains a safe following distance by adjusting speed, enhancing safety on highways.

Real-life Examples of Reduced Premiums Due to Safety Features:

  • Example 1: Meet Maya, who chose a car with comprehensive safety features. Her insurance premium was significantly reduced due to the vehicle's advanced technology. In comparison to a similar car without these features, Maya enjoyed savings of 20% on her annual premium. Maya's investment in safety paid off not only on the road but also in her wallet.
  • Example 2: John, a responsible driver, decided to equip his car with anti-theft devices and collision avoidance systems. Thanks to these safety enhancements, his insurance company offered him a 15% reduction in premiums. John's commitment to safety not only protected his car but also led to considerable savings.


In the realm of purchasing cars under 20 lakhs, the landscape of insurance prices proves to be a crucial aspect that goes beyond mere financial calculations. As we've explored the interplay of factors influencing insurance costs, from safety features to driving history, it's clear that this decision holds the power to safeguard not only your investment but also your well-being. By opting for vehicles equipped with advanced safety technologies, individuals can not only elevate their protection on the road but also potentially enjoy reduced insurance premiums. In a world where safety and financial prudence intersect, making informed choices about insurance coverage isn't just a requisite—it's the road to a secure and confident driving experience.

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