Many people may not know that ICICI Lombard car insurance is one of the most expensive in India. There are many alternatives to ICICI Lombard car insurance that you can choose from. We have listed the top 10 ICICI Lombard Car Insurance alternatives below.
The best car insurance alternatives for ICICI Lombard car insurance is based on the wide range of features, including third party liability and comprehensive coverage. The best car insurance alternatives for ICICI Lombard car insurance because it offers a complete range of features and benefits as well as 24-hour helpline service, which will help you in case of any emergency.
A lot of people are fed up with the high cost of car insurance. Some people are even switching to car insurance alternatives. If you're looking for an affordable and reliable way to protect your vehicle. Top 10 ICICI Lombard Car Insurance alternatives are:-
- Future Generali Car Insurance
- Bajaj Allianz Car Insurance
- HDFC ERGO Car Insurance
- Cholamandalam MS Car Insurance
- Digit Car Insurance
- Kotak Mahindra Car Insurance
- Reliance Car Insurance
- TATA AIG Car Insurance
- New India Assurance Car Insurance
- National Car Insurance
The Indian insurance sector is growing at a very fast pace. It is one of the fastest-growing sectors in India. The growth in the automotive sector has led to an increase in the demand for car insurance. ICICI Lombard, has been providing car insurance services for a long time now.
However, with the increasing demand and competition in this industry, it is important to explore alternative options and provide customers with more choices. This article discusses how ICICI Lombard can provide its customers with more choices by exploring alternate options that are available in this industry.
Best Car Insurance alternatives for ICICI Lombard:
| Company |
Own Damage Covers |
Average Premium |
| Future Generali |
- Damage caused by Natural disasters or severe weather
- Fire
- Theft
- Vandalism
- Damage to the third party
- Damage to your vehicle caused by falling objects such as trees
- Damage or destruction of your vehicle caused by an act of civil disturbance such as riots.
|
2374 |
| Bajaj Allianz |
- Fire, explosion, self-ignition or lightning
- Burglary or theft
- Riot & strike
- Natural calamities like flood, hurricane, storm, earthquake, etc.
- Terrorist activity.
|
2848 |
| HDFC ERGO |
Losses or damages covered due to
- Accidents
- Burglary
- Theft
- Explosion
- Fire
- Lightning
- terrorist acts
- riots
- Earthquake
- Flood
- Third-party liabilities.
|
3544 |
| Cholamandalam MS |
- Lightning, fire, explosion, or self-ignition
- Theft of the insured vehicle
- Strikes
- Earthquakes
- Tempest, flood, hurricane, cyclone, etc.
- External accidents
- Terrorist acts
- Malicious activity
- In-transit damages
- Rockslides and landslides.
|
2349 |
| Digit |
- Damage due to Fire, Explosion, Self-Ignition or Lightning.
- Burglary or Housebreaking or Theft.
- Damage due to Riot and Strike.
- Malicious damage
- Earthquake including Fire & Shock
- Damage due to Natural peril of Act of God such as Flood, Storm, Hurricane etc.
- Damage due to accidental external means
- Damage due to Terrorist activity.
- Damage caused to the car while in Transit by Rail, Road, and Inland waterway, Lift, Elevator or Air.
- Damage due to Landslide / Rockslide.
|
3477 |
| Kotak |
- Earthquakes, floods, storms, cyclones, lightning, hurricane, landslides, etc.
- Fire, riots, malicious acts strikes, etc.
- Transported through air, road or water
- Theft of the car.
|
2208 |
| Reliance |
- Accident Fire
- Lightening
- Self-Ignition
- Explosion
- Theft, Riots & Strikes and/or Malicious Acts and Terrorism
- Earthquake, Flood Cyclone
- Inundation Transit by Rail, Road, Air & Elevator
|
2072 |
| TATA AIG |
- Protection from third-party liability
- Compliance with the law
- Cover against theft
- Cover against natural calamities
- Personal accident cover
- Protection against financial losses.
|
2094 |
| New India Assurance |
- Fire, Explosion, Self-ignition, Flood, Inundation,
- Typhoon, Tempest, Hurricane, Storm, Cyclone, Hailstorm, Frost
- Lightning, Earthquake, Landslide, Rockslide
- Burglary, Housebreaking, theft, riot, malicious act or terrorist activities, accidental damages by external means, damages in transit by road, rail, inland waterway, lift, elevator or air.
|
4029 |
| National |
- Accident Fire
- Lightening
- Self-Ignition
- Explosion
- Theft, Riots & Strikes and/or Malicious Acts and Terrorism
- Earthquake, Flood Cyclone
- Inundation Transit by Rail, Road, Air & Elevator.
|
2689 |
*The above mentioned values are for knowing the purpose, if want correct readings to compare quotes top of the page.*
ICICI Lombard Car Insurance
Key Features:-
- Claim Settlement Ratio: 76.53%
- Cashless Garages: 9700+
- Solvency ratio: 2.90
- Branches: 165+
- Claims Settled: 2.01 Lakhs
|
Why Choose ICICI Lombard Car Insurance?
- Quick policy purchase
- 24x7 claim assistance
- Cashless claim settlement at network garages
- Reduce out-of-pocket expenditure in case of stolen/damaged vehicle
- Get immediate assistance from the insurer’s helpline.
|
|
ICICI Lombard Insurance shines with its optional coverage options, its claims process, and low level of complaints, which helps it overcome only average rates. |
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How to Save Money on Next Car Insurance Policy?
The average annual cost of owning a car is Rs.2500 to Rs. 5000. This can be expensive, especially if you’re not making a lot of money. Fortunately, there are ways to save money on your next car insurance policy. Here are some tips:
- Shop around for the best rate and coverage
- Consider getting an older car with lower insurance rates
- Consider paying for your repairs
- Consider dropping collision and comprehensive coverage.
In conclusion, there are a lot of ways to save money on your next car insurance policy. You can use the tips and tricks above to find a plan that best suits your needs.
Top 10 Alternatives & Competitors of ICICI Lombard Insurance:
If you're considering ICICI Lombard, you may also want to look into comparable products or brands that are comparable. When researching these alternatives, other factors to think about include customer service and email complaints.
1. Future Generali Car Insurance
Key Features:-
- Claim Settlement Ratio: 66.13%
- Cashless Garages: 4000+
- Solvency ratio: 1.61
- Branches: 121+
- Claims Settled: 2.06 Lakhs.
|
Why Choose Future Generali?
- Fast & hassle-free claim settlement process
- Instant policy issuance
- Accidental towing facility within the city limits
- Personalized services claim facility
- Future Xpress and Xpress+ available.
|
|
Future Generali Insurance Company is one of the leading general insurance providers in India. The company is one of the oldest and one of the most reliable insurance companies which understands the need for car insurance and thus offers insurance products that are designed to cater to the different sections of society. |
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2. Bajaj Allianz Car Insurance
Key Features:-
- Claim Settlement Ratio: 68.06%
- Cashless Garages: 6000+
- Solvency ratio: 3.45
- Branches: 1100+
- Claims Settled: 1.92 Lakhs.
|
Why Choose Bajaj Allianz?
- Wellness benefit
- Hassle-free claim settlement
- Long-term policy
- Portability benefit.
|
|
If you've determined Bajaj Allianz is the best option for you and they're available in your state, check out several other insurance companies to compare prices and conditions. To get the best deal, consider buying from a reputable Bajaj Allianz Company with a proven track record. |
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3. HDFC ERGO Car Insurance
Key Features:-
- Claim Settlement Ratio: 70.02%
- Cashless Garages: 6800+
- Solvency ratio: 1.90
- Branches: 200+
- Claims Settled: 1 crore.
|
Why Choose HDFC ERGO?
- Get Instant Quotes
- Payment Reminders
- Instant Coverage
- Quick Issuance
- Zero paperwork
- Convenience.
|
|
HDFC ERGO has good coverage offerings and a top score for its collision repair claims processes. These advantages offset HDFC ERGO car insurance rates, which are a mixed bag depending on your driving record. |
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4. Cholamandalam MS Car Insurance
Key Features:-
- Claim Settlement Ratio: 74.3%
- Cashless Garages: 8500+
- Solvency ratio: 2.08
- Branches: 157+
- Claims Settled: 85.67%.
|
Why Choose Cholamandalam?
- Decision on claims approval within 7 working days.
- Guaranteed 24*7 customer support.
- Avail wide network of cashless garages service.
- No Claim Bonus is up to 50% discount.
|
|
The company is well known for its high customer ratings and affordable coverage options, including accident forgiveness. However, it has strict eligibility requirements and not everyone qualifies for coverage. |
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5. Digit Car Insurance
Key Features:-
- Claim Settlement Ratio: 74.91%
- Cashless Garages: 5800+
- Solvency ratio: 2.01
- Branches: 100+
- Claims Settled: 90.4%.
|
Why Choose Digit?
- Cheaper premiums
- Faster claim settlement
- Top-rated company
- Efficient customer support.
|
|
Digit offers a superior selection of coverage options, from accident forgiveness to disappearing deductibles. It also has a track record for low car insurance complaints, which helps offset rates that are usually higher than its top competitors. |
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6. Kotak Mahindra Car Insurance
Key Features:-
- Claim Settlement Ratio: 74.64%
- Cashless Garages: 1300+
- Solvency ratio: 1.95
- Branches: 100+
- Claims Settled: 2.35 Lakhs.
|
Why Choose Kotak Mahindra?
- Customized products and services
- High claim ratio settlement
- Digital framework
- Customer-centric ratio
- Extensive range of add-ons to choose
- Long term coverage.
|
|
The company has many optional offerings that can give you better insurance protection, making it a good choice to look at when comparison shopping. |
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7. Reliance Car Insurance
Key Features:-
- Claim Settlement Ratio: 76.89%
- Cashless Garages: 6200+
- Solvency ratio: 1.65
- Branches: 139+
- Claims Settled: 98%
|
Why Choose Reliance?
- Safeguard a policyholder’s interests at all cost
- Introduce affordable insurance options accessible to all
- Bringing best and innovative insurance products to the market
- Ensure seamless operation with maximum priority given to a customer.
|
|
Reliance has pretty affordable rates for motorists with many types of needs, making it a good company for various driver profiles. The company gives its policyholders a sense of empowerment with financial independence through an extensive range of affordable products and a seamless customer experience. |
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8. TATA AIG Car Insurance
Key Features:-
- Claim Settlement Ratio: 75.41%
- Cashless Garages: 5400+
- Solvency ratio: 2.22
- Branches: 200+
- Claims Settled: 2.74 Lakhs.
|
Why Choose TATA AIG?
- Instant Quote
- Easy Comparison
- Paperless and Quick Policy Issuance
- Save Money, and customizable
- Safe and secure process.
|
|
TATA AIG Insurance shines with its optional coverage options, its claims process, and low level of complaints, which helps it overcome only average rates. |
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9. New India Assurance Car Insurance
Key Features:-
- Claim Settlement Ratio: 78.2%
- Cashless Garages: 3000+
- Solvency ratio: 2.13
- Branches: 2214+
- Claims Settled: 3.73 Lakhs.
|
Why Choose New India Assurance?
- 24x7 claim assistance
- The quick and hassle-free claim settlement process
- Digital insurance process for the paperless system.
|
|
New India Assurance General Insurance understands that car insurance is a simple and effective way to protect your car from unforeseen risks. New India Assurance Car insurance saves costs, complies with the law, and stays hassle-free with New India Assurance online car insurance policy. Having good car insurance is a necessity to protect you from financial losses that come along with road accidents. |
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10. National Car Insurance
Key Features:-
- Claim Settlement Ratio: 78.55%
- Cashless Garages: 3100+
- Solvency ratio: 0.62
- Branches: 373+
- Claims Settled: 2.3 Lakhs.
|
Why Choose National?
- 24x7 emergency assistance
- Quick & Hassle-free Claim Assistance
- Easy to make a claim
- Excellent customer support.
|
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The company is one of the oldest insurance players offering multiple insurance policies to fulfill the different needs of the customers. |
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Conclusion:
You can find many alternative car insurance plans for ICICI Lombard if you are looking for a new car insurance solution. They vary in their affordability, coverage and personalization. The best way to find the perfect car insurance alternative for you is to be well informed about what it does and does not offer.
Best car insurance products in India analysis based on customer satisfaction and financial stability. But the best car insurance company for you may depend on your driver profile and where you live. Many insurance companies with strong ratings for claims service and overall customer satisfaction also offer some of the most affordable rates on average.
PolicyBachat is an insurance web aggregator that will see for yourself which car insurer provides the best car insurance policy by comparing quotes online. So, compare car insurance quotes and grab your car insurance policy now.