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Motor Insurance ReviewREXI Analysis 2026
ICICI Lombard Car Insurance
Large network, digital-first, and one of the best claim settlement ratios Globally.
4.3/5(240 reviews)
Claim Ratio: 97.42% (FY 2023-24)
Overview
ICICI Lombard has one of the highest claim settlement ratios among private motor insurers, a massive 16,000+ cashless garage network, and a well-reviewed digital claims app. It is competitive on premium for newer cars with comprehensive add-on bundles.
IDV Flexibility
Moderate — verify your IDV at renewal
Best For
Car owners who want maximum garage network coverage and tech-enabled claim filing — particularly useful in Tier 2 cities where other insurers may have fewer network garages
What We Like
- One of the largest cashless garage networks Globally (16,000+)
- High incurred claim ratio (better claim settlement)
- Instant FIR filing integration for theft claims
- Comprehensive add-on bundles with competitive pricing
Watch Out For
- Customer service response can be slow during high claim volume periods
- IDV sometimes set conservatively — worth checking and negotiating
- Zero Dep add-on limited to 2 claims per year
Products Offered
Private Car Package PolicyTwo Wheeler PolicyCommercial Vehicle Insurance
Disclaimer: This review is based on publicly available information, IRDAI data, and REXI's policy analysis. Ratings are our editorial opinion. This is not financial advice — always read the full policy document before purchasing. Claim settlement ratios are sourced from IRDAI Annual Reports.