# Car insurance companies in Pakistan compared

URL: https://which.pk/money/guides/car-insurance-companies-pakistan/
Author: Ahtisham Imtiaz
Updated: 8 Oct 2026

## Summary

We compare 11 car insurers and takaful operators in Pakistan without ranking them. As of October 2026, PACRA rates Adamjee, EFU General and Jubilee General AA++ (ifs), the highest among them; Salaam Takaful is A++ and Pak-Qatar General Takaful A+. Rates shown on PakWheels on 8 Oct 2026 ran from 1.3% to 2% of the car's value, with tracker fees of Rs 7,000 to Rs 16,500 where shown. All eleven offer takaful, either as a dedicated operator or through a takaful window.

## Key facts

- Highest PACRA rating: AA++ (ifs)
- Rates quoted: 1.3%–2% of value
- Tracker fee: Rs 7,000–16,500
- Takaful available: All 11

We don't pick a "best" car insurer, because we have no independent data on how each company handles claims. The one independent yardstick is the **insurer financial strength (IFS) rating**, which measures how able an insurer is to pay claims. As of October 2026, credit rating agency PACRA rates **Adamjee, EFU General and Jubilee General AA++ (ifs)**, the highest among the eleven motor insurers below. Quoted rates run from **1.3% to 2%** of the car's value.

**Comprehensive cover on a Rs 40 lakh car:** Rs 52,000 to Rs 80,000 a year (At 1.3% to 2% of value, before tracker fee (rates shown on PakWheels, 8 Oct 2026))

## What are the top car insurance companies in Pakistan?

These eleven general insurers and takaful operators all write motor business, carry a current PACRA or VIS rating and quote car rates on PakWheels. They are listed by rating, then alphabetically. This is not a ranking.

| Insurer | Type | PACRA IFS rating (date) | Rate shown | Tracker fee shown | Buy online on own site |
|---|---|---|---|---|---|
| Adamjee Insurance | Conventional + takaful window | AA++, Stable (27 Feb 2026) | from 1.6% | not shown | Yes, policy by email |
| EFU General | Conventional + takaful window | AA++, Stable (9 May 2026) | 2.0% | Rs 15,000 | Yes, online form |
| Jubilee General | Conventional + takaful window | AA++, Stable (23 Oct 2025) | 1.75% | Rs 11,000 | Yes |
| Alfalah Insurance | Conventional + takaful | AA+, Stable (19 May 2026) | 1.5% | Rs 15,000 | Online quote and portal |
| Askari General | Conventional + takaful window | AA+, Stable (4 Feb 2026) | 1.5% | Rs 7,000 | Not checked |
| IGI General | Conventional + takaful window | AA+, Stable (21 Feb 2026) | from 1.4% | Rs 16,500 | Site blocked our check |
| United Insurance (UIC) | Conventional + takaful window | AA+, Stable (17 Apr 2026) | from 1.5% | Rs 15,000 | Site blocked our check |
| TPL Insurance | Conventional + takaful window | AA, Stable, **Rating Watch** (2 May 2026) | 1.8% | Rs 12,500 | Yes, website and app |
| Salaam Takaful | Takaful only | A++, Stable (30 Jan 2026) | from 1.3% | Rs 12,500 | Not checked |
| Pak-Qatar General Takaful | Takaful only | A+, **Positive** (6 Feb 2026) | 1.4% | Rs 10,500 | Not checked |
| UBL Insurers | Conventional + takaful window | Not rated by PACRA. VIS: AA+, Stable (30 Mar 2026) | 1.65% | Rs 12,000 | Not checked |

Rates and tracker fees are what PakWheels' comparison page showed on 8 Oct 2026. "From" rates vary by make and model. PakWheels says it may take a commission from insurers, so ask each insurer for its own quote before you pay.

All eleven appear in the Federal Insurance Ombudsman's complaint form, so you can take a dispute with any of them there. We couldn't open SECP's (Securities and Exchange Commission of Pakistan) list of registered insurers on 8 Oct 2026 to tick that box separately.

**TPL Insurance is on Rating Watch:** PACRA has kept TPL Insurance on Rating Watch since at least November 2025. A watch means a rating change is possible after a specific event, not that one is certain. PACRA's May 2026 press release discusses a pending sale of TPL Corp's 53.81% stake to Jazz International Holdings.

## Do PACRA and VIS agree on these insurers?

VIS Credit Rating Company also rates insurers. Where VIS and PACRA both rate an insurer in our table, the grade is the same as of 8 Oct 2026. Only the outlook differs for Pak-Qatar General Takaful: Positive at PACRA, Stable at VIS.

| Insurer | VIS IFS rating | VIS date |
|---|---|---|
| Jubilee General | AA++, Stable | 24 Mar 2026 |
| Askari General | AA+, Stable | 7 Oct 2026 |
| IGI General | AA+, Stable | 30 Dec 2025 |
| United Insurance (UIC) | AA+, Stable | 21 Sep 2026 |
| UBL Insurers | AA+, Stable | 30 Mar 2026 |
| Pak-Qatar General Takaful | A+, Stable | 31 Aug 2026 |

VIS says UBL Insurers' AA+ means a "very strong capacity to meet policy holders and contract obligations". Its March 2026 release also notes pressure on underwriting from higher claims, with motor and health a growing share of the business.

## What does an insurer financial strength rating tell me?

An IFS rating is PACRA's opinion of an insurer's ability to meet its obligations to policyholders. In PACRA's words, the risk it covers is "the risk of claims not being met". It looks at the whole company, not your particular policy.

| PACRA IFS grade | What PACRA says it means |
|---|---|
| AAA | Exceptionally strong capacity to meet policyholder obligations |
| AA++, AA+, AA | Very strong |
| A++, A+, A | Strong |
| BBB++, BBB+, BBB | Good |
| Below BBB | Modest, weak, very weak or distressed |

Two limits are worth knowing. The rating does not measure how willing managers are to pay, and it is not about any single policy or claim. And PACRA rates takaful operators on the same scale as conventional insurers, without judging how well they follow Shariah: that is for each operator's Shariah advisers.

PACRA says it reviews each rating at least every six months. Check the date anyway: an insurer's own website can lag. Jubilee General's "Get Insurance" page still says "AA +", while PACRA has rated it AA++ since March 2022.

## How much of each insurer's business is motor?

This tells you how central car cover is to each company. Shares are of gross premium written, from PACRA's latest press releases:

| Insurer | Motor share of premium | Period |
|---|---|---|
| TPL Insurance | about 70% | 2025 |
| Adamjee Insurance | 54% | first 9 months of 2025 |
| Askari General | about 22% | latest PACRA review (Feb 2026) |
| IGI General | about 19% | latest PACRA review (Feb 2026) |
| Jubilee General | about 13% | latest PACRA review (Oct 2025) |
| EFU General | about 9% | 2025 |

Adamjee's figure includes its UAE business, where motor dominates. PACRA's releases for Alfalah, United, Salaam and Pak-Qatar give no motor share.

## What is the best Islamic car insurance in Pakistan?

Two companies in the table are dedicated takaful operators: **Salaam Takaful** (A++, incorporated 2006) and **Pak-Qatar General Takaful** (A+ with a Positive outlook since February 2026, operating since 2007). The other nine run takaful windows alongside conventional business.

The products are close to conventional cover. Pak-Qatar's motor takaful covers theft, accident damage, fire, natural disasters and third-party liability. Jubilee General Takaful's "3T" plan covers theft, total loss and third party for cars 7 years and older worth under Rs 10 lakh, from 1.5% of the car's value.

## Which insurer suits whom?

Each line below follows from a fact in the tables, not from our opinion:

- **If financial strength matters most:** Adamjee, EFU General and Jubilee General hold PACRA's highest grade among these eleven, AA++.
- **If you want to buy without visiting a branch:** Adamjee, EFU General, Jubilee General and TPL sell motor cover online on their own sites.
- **If you want Shariah-based cover only:** Salaam Takaful and Pak-Qatar General Takaful do no conventional business.
- **If the tracker fee bothers you:** Askari General showed the lowest fee of those listing one (Rs 7,000), and TPL sells policies without a TPL-installed tracker.

For how rates, deductibles, claims and the Ombudsman work, read [how car insurance works in Pakistan](/money/guides/car-insurance-pakistan/).

More guides: [Cards & Insurance](/money/cards-insurance/) · [How car insurance works](/money/guides/car-insurance-pakistan/) · [Credit cards compared](/money/guides/credit-cards-pakistan-compared/) · [Money](/money/).

## Questions people ask

### Which is the best car insurance company in Pakistan?

We don't rank insurers. The one independent yardstick is the insurer financial strength rating: as of October 2026, PACRA rates Adamjee, EFU General and Jubilee General AA++ (ifs), the highest among the motor insurers we checked.

### Which is the best Islamic car insurance in Pakistan?

Salaam Takaful (A++) and Pak-Qatar General Takaful (A+, Positive outlook) are dedicated takaful operators. The other nine insurers in our table also run takaful windows.

### Which car insurance company has the lowest rate in Pakistan?

Among the eleven in our table, Salaam Takaful showed the lowest starting rate on PakWheels on 8 Oct 2026, from 1.3% of the car's value, and EFU General the highest at 2%. Your quote depends on make, model and year.

### What does an IFS rating of AA++ mean?

PACRA's scale runs from AAA to D. AA++, AA+ and AA all mean a 'very strong' capacity to meet policyholder obligations; A++, A+ and A mean 'strong'.

### Do I need a tracker for car insurance in Pakistan?

Many insurers charge a tracker fee with comprehensive cover: Rs 7,000 to Rs 16,500 among the insurers in our table, as shown on PakWheels on 8 Oct 2026. TPL also sells policies without a TPL-installed tracker.

## Sources

- [Ratings (all), insurer financial strength](https://www.pacra.com/rating_resources_new), PACRA (accessed 8 Oct 2026)
- [General Insurance & Takaful Operator IFS Rating Assessment Framework (Mar 2026)](https://pacra.com/view/storage/app/storage/methodologies/03-24-2026-03-51-40pm_doc_file.pdf), PACRA (accessed 8 Oct 2026)
- [PACRA Maintains IFS Rating of TPL Insurance Limited (2 May 2026)](https://www.pacra.com/finalPr/MTU3ODg=), PACRA (accessed 8 Oct 2026)
- [Rating press release, Adamjee Insurance (27 Feb 2026)](https://www.pacra.com/finalPr/MTU0NjI=), PACRA (accessed 8 Oct 2026)
- [Rating press release, EFU General Insurance (9 May 2026)](https://www.pacra.com/finalPr/MTU4MTA=), PACRA (accessed 8 Oct 2026)
- [Rating press release, Jubilee General Insurance (23 Oct 2025)](https://www.pacra.com/finalPr/MTUwMTg=), PACRA (accessed 8 Oct 2026)
- [Rating press release, IGI General Insurance (21 Feb 2026)](https://www.pacra.com/finalPr/MTU0NDg=), PACRA (accessed 8 Oct 2026)
- [Rating press release, United Insurance (17 Apr 2026)](https://www.pacra.com/finalPr/MTU3ODA=), PACRA (accessed 8 Oct 2026)
- [Rating press release, Askari General Insurance (4 Feb 2026)](https://www.pacra.com/finalPr/MTU0MDY=), PACRA (accessed 8 Oct 2026)
- [Rating press release, Alfalah Insurance (19 May 2026)](https://www.pacra.com/finalPr/MTU4NzU=), PACRA (accessed 8 Oct 2026)
- [PACRA Maintains IFS Rating of Salaam Takaful (30 Jan 2026)](https://www.pacra.com/finalPr/MTUzOTg=), PACRA (accessed 8 Oct 2026)
- [PACRA Assigns Positive Outlook to Pak Qatar General Takaful (6 Feb 2026)](https://www.pacra.com/finalPr/MTU0MDU=), PACRA (accessed 8 Oct 2026)
- [Ratings (insurer financial strength)](https://vis.com.pk/Home/Rating), VIS Credit Rating Company (accessed 8 Oct 2026)
- [VIS Reaffirms IFS Rating of UBL Insurers Limited (30 Mar 2026)](https://vis.com.pk/Home/PressRelease?mRatingId=00572001023), VIS Credit Rating Company (accessed 8 Oct 2026)
- [Submit Complaint](https://fio.gov.pk/submit-ticket.html), Federal Insurance Ombudsman (accessed 8 Oct 2026)
- [Car Insurance comparison page](https://www.pakwheels.com/car-insurance), PakWheels (accessed 8 Oct 2026)
- [Car Insurance](https://www.adamjeeinsurance.com/car-insurance), Adamjee Insurance (accessed 8 Oct 2026)
- [Motor Insurance](https://efuinsurance.com/conventional/products-services/motor-insurance.php), EFU General Insurance (accessed 8 Oct 2026)
- [Car Insurance in Pakistan](https://tplinsurance.com/products/car-insurance), TPL Insurance (accessed 8 Oct 2026)
- [Get Insurance](https://jubileegeneral.com.pk/getinsurance/), Jubilee General Insurance (accessed 8 Oct 2026)
- [3T-Old Car Takaful](https://jubileegeneral.com.pk/takaful/3t-old-car), Jubilee General Takaful (accessed 8 Oct 2026)
- [Motor Takaful](https://pqgtl.com.pk/individual-takaful/motor-takaful/), Pak-Qatar General Takaful (accessed 8 Oct 2026)
- [Alfalah Insurance home page](https://alfalahinsurance.com), Alfalah Insurance (accessed 8 Oct 2026)