The thermal performance of transparently insulated integrated-collector-storage solar water heaters is investigated theoretically as well as experimentally for a comparative study of cover systems having transparent insulation materials devices placed between the top glazing and the absorber. The data on solar transmittance, heat loss reduction characteristics and solar collector-storage efficiencies of various configurations is generated for the system performance comparisons. These hot water systems exhibit average (diurnal basis) solar collection and storage efficiencies in the range of 20-40% at a collection temperature of 40-50 degrees C. The performance of water heaters with cover system having absorber-perpendicular configuration of TIM excel over absorber-parallel TIM covers. The effect of variation in the temperature of heat collected and cost of cover systems on the performance comparisons is also discussed.