Looking for Kotak Mahindra vs ICICI Lombard Car Insurance Comparison, Key Benefits, and Features to buy the best car insurance? PolicyBachat is helping you find the best policy that fits your financial situation. Comparison of car insurance online leads to cost efficiency due to low operating costs to maintain online. We give you the distinction between the carrier backgrounds, incurred claim ratio, and network garages to configure the right insurance policy.
For those looking for insurance, it's important to compare Kotak Mahindra and ICICI Lombard Car Insurance companies to find the one that will work best for you. With all of the car insurance providers to choose from, some stand out more and have a better reputation.
Kotak Mahindra and ICICI Lombard have different policies and offer a variety of discounts that slightly change, making them both competitive car insurance companies. Decide which side you want to go with before you buy a car insurance policy. This article will help you understand the different factors that can affect your decision on which company to choose for your car insurance needs.
Kotak Mahindra Car Insurance:
With a kotak Car insurance policy, you can protect yourself and your car from any financial loss and damage. A comprehensive car insurance policy will cover all the damages caused to you, your vehicle, and the third party damages caused by the accident. Buying a Kotak car insurance policy ensures your all-around safety every time you hit the road.
Kotak Mahindra General Insurance Company is a subsidiary of Kotak Mahindra Bank Ltd started its operations in 2003. Kotak Mahindra general insurance company incepted in 2015, during the year Kotak Mahindra received 6 lakhs premium and incurred a claim amount of 26 Lakhs. Kotak Mahindra General Insurance has resolved the claim within 6 months. Kotak Mahindra insurance company commitment to providing insurance claims proves the reliability of the company.
Why should you buy Kotak Mahindra Car Insurance Policy?
You and Kotak Car Secure have the mutual goal of keeping your car safe and sound. Under any unforeseen circumstances, Kotak provides all-around protection.
- Enjoy enhanced protection with Kotak Car Secure to compensate for both first-party and third-party damage
- You can rely on our around-the-clock assistance for any minor or major situation
- Get the benefit of a maximum of 50% No Bonus Claim
- Complete protection due to natural calamities like fire, explosion, lightning, earthquake, flood, etc., or damages caused due to man-made calamities like burglary, theft, riot, strike, malicious act, accident, etc.
- Comprehensive cover provides protection against damages related to all electrical and non-electrical accessories as well as the bi-fuel system of the vehicle.
| Types of Policies |
- Private car insurance policy
- Third party car insurance
- Comprehensive car insurance
- Personal accident cover.
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Add-on/Riders |
- Depreciation cover
- Consumables cover
- Return to invoice
- Tyre protection cover
- Daily car allowance
- Loss of personal belongings
- Roadside assistance.
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ICICI Lombard Car Insurance:
A comprehensive car insurance policy, also known as motor package insurance, saves you money when your car is damaged in an accident or natural calamity. It also covers your vehicle against theft and burglary. At times, you may end up hurting others or damaging property in an accident. A car insurance policy covers such third party liabilities as well.
If you own a car in India, having third party insurance is a must for you. That’s why it’s crucial to buy and renew your policy on time to stay on the right side of the law and be covered against car damages.
At an affordable premium, a reliable ICICI Lombard car insurance policy protects you against all these risks so that you can drive worry-free. Apart from comprehensive car insurance, third-party only and own-damage only car insurance policies are also available. You can choose the policy type as per your needs.
Why should you buy ICICI Lombard Car Insurance Policy?
You're with ICICI Lombard Car Insurance because you and they share one goal: keeping your car protected. This means they can help with anything from catering to recovering damages from a claim.
- Protect you against Third party liability coverage
- Covers damages to the car due to accidents or natural calamities.
- Saves you from traffic fines and penalties if you buy the comprehensive car insurance policy
- Provides personal accident coverage for owner-driver
- Covers your car against theft.
| Types of Policies |
- Private car package policy
- Stand-alone own damage car insurance
- Third party car insurance.
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Add-on/Riders |
- Roadside assistance cover
- Zero depreciation cover
- Engine protect cover
- Garage cash cover
- Consumables protect cover
- Loss of personal belongings cover.
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Comparison of Kotak Mahindra Car Insurance vs ICICI Lombard Car Insurance:
When you buy insurance for your car, you would want to get insurance that is high on benefits and low on costs. The comparison of Kotak Mahindra and ICICI Lombard Car Insurance depends on the factors such as Customer Service, Product Portfolio, Pricing, Best Coverage, suitability, and Claim Settlement Ratio.
PolicyBachat caters you to the best car insurance companies in India for hassle-free claim settlement, easy comparisons, and a lot more. Compare Kotak Mahindra Car Insurance and ICICI Lombard Car Insurance Company which has a reliable claim settlement ratio in less period.
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Differences |
Kotak Car Insurance |
ICICI Lombard Car Insurance |
| Cashless Network Garages |
3000+ |
9700+ |
| Claim Settlement Ratio |
74.64% |
65.77% |
| Solvency Ratio |
1.95 |
2.90 |
| Claims settled |
2.3 lakhs |
2.01 lakhs |
| Branches |
100+ |
165+ |
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Key Features, Benefits, and Highlights Comparison:
| Distinguish |
Kotak Mahindra Car Insurance |
ICICI Lombard Car Insurance |
| Benefits & Features |
- Customized products and services
- High claim ratio settlement
- Digital infrastructure
- Efficient processing of claim settlement
- Customer-centric ratio
- Extensive range of add-ons to choose
- The easy and fast documentation process
- Reliable and efficient service
- To secure from unexpected financial loss and mishap
- Own damage partial or total loss
- Covers you from natural calamities, and man-made calamities
- Personal accident cover
- Third-party legal liability
- Accessories cover.
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- This plan is highly customizable as there are varieties of add-ons available.
- This plan can be chosen for various periods.
- Third party car insurance is mandatory
- Saves you from traffic fines by providing third party car insurance
- Covers from damages to your car
- Provides personal accident coverage for Owner-driver
- Covers your car against theft.
- Instant quote, and transparent process
- No paperwork & touchless policy issuance
- Quick & hassle-free policy
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| Highlights |
- No claim bonus discount up to 50%
- Opt for voluntary deductible
- Membership of AAI
- Quick and hassle-free claim assistance
- Reliable customer support
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- The claims are settled within the shortest possible time. The Claim Settlement Ratio in the financial year 2020 – 2021 was 97.9%
- The company has won the ‘Claim Leader – General Insurance’ Award given by Indian Insurance Award
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Conclusion:
We explained in detail the difference between kotak Mahindra Car Insurance and ICICI Lombard Car Insurance. The comparison will be done based on various factors such as claims, customer service, policy cost, and more.
In the end, both companies offer great customer service, competitive rates, and affordable premiums. Compare car insurance quotes and choose the best car insurance company to secure you from any mishap/theft, losses or damages, natural disasters, manmade calamities, and personal accident cover. Get your car insurance policy online for easy claim settlement and policy renewal.
However, some key differences make them stand out from each other. The difference between the two companies is their pricing structure. PolicyBachat help you choose the best car insurance policy by comparing online. You must know what your budget and requirements are, to decide on the right one for your needs. Choose the best car insurance company that provides good coverage at the best price.