ICICI Lombard Vs Universal Sompo Car Insurance Comparison 2024

Updated On: 2023-04-19

Author : Team Policybachat

For those looking for insurance, it's important to compare ICICI Lombard vs Universal Sompo 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.

That's why you need ICICI Lombard Car Insurance so you have guaranteed assistance at any time. Insurance is an important condition that nobody should be without, which is why Universal Sompo Car Insurance can cover you.

ICICI Lombard and Universal Sompo 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.

Highlights ICICI Lombard Car Insurance:
  • Instant claim settlement via InstaSpect
  • No claim bonus up to 50%
  • Quick policy purchase online
  • 24x7 claim assistance
  • Cashless claim settlement at network garages
  • This plan is highly customizable as there are varieties of add-ons available.
  • This plan can be chosen for various periods.
Universal Sompo Car Insurance:
  • No Claim Bonus
  • Anti-theft device installation discount
  • Voluntary excess discount
  • Specially designed/modified vehicle discount
  • The policy offered by this brand covers its own damage as well as third-party under the same plan.
  • If the customer wants higher voluntary access there is also a provision for a discount in that.

ICICI Lombard Car Insurance:

ICICI Lombard car insurance company is one of the leading general insurance companies in India. ICICI Lombard car insurance is the top 1 private sector general insurance company in India with a market share of almost 8% in the year 2021. The cost of ICICI Lombard car insurance varies depending on the type of policy that you choose to buy.

At ICICI Lombard 24*7 agents are dedicated to providing quality customer care service to the customers. ICICI Lombard Car Insurance is a private car insurance company in India. It is one of the leading insurance companies with a market share of over 30%. ICICI Lombard Car Insurance offers comprehensive car insurance, roadside assistance, and travel accident cover.

ICICI Lombard Car Insurance is an Indian car insurance company. They offer a wide range of car insurance plans to cater to every need. They have been in the market for over 50 years and have served more than 10 million customers. They offer a range of policies from basic to comprehensive and also provide discounts for all kinds of users.

Why Buy ICICI Lombard Car Insurance?

Key Features Benefits
Premium Starts at Rs. 2072
Policy Issuance Instant e-policy without paperwork
Policies Issued 9.8 million
No claim Bonus Covers up to 50%
Branches 273
Claims Settled 1.3 million
Claim Process Instant Motor Claims through IL Take care app

Universal Sompo Car Insurance:

Universal Sompo is the first public-private General Insurance Corporation. The cost of Universal Sompo car insurance varies depending on the type of policy that you choose to buy. A car insurance policy offers aid to the car owner if he/she meets with an accident that causes damage to the car. Universal Sompo car insurance plans not only cover damages but also have a compulsory personal accident cover.

Universal Sompo Car Insurance is a comprehensive car insurance package offered by Universal Sompo General Insurance Company Limited. The insurer offers private as well as commercial insurance under its four-wheeler banner. The private car package covers loss arising out of manmade and natural calamities, legal liability to third party personal injury and property damage, and compulsory Personal Accident cover for owner drivers. You can also avail of a discount for opting for higher voluntary excess.

Why Buy Universal Sompo Car Insurance?

Key Features Benefits
Premium For 1000 cc Starts at Rs. 2055
Policy Issuance Quick & hassle-free
Policies Issued 6 million
No claim Bonus Covers up to 50%
Claims Settled 1,11,787 lakhs
Claim Process Instant Motor Claims through IL Take care app
Zero Depreciation Cover Get up to 7 years of zero depreciation add-on cover without any gap on several claims.

Comparison of ICICI Lombard Car Insurance vs Universal Sompo Car Insurance:

With the help of a comparison site, like PolicyBachat.com, you can effortlessly compare quotes from many different companies. In addition to saving you time, this can also lead to better prices since our low operating costs mean we don't charge commissions.

PolicyBachat helps you understand the big picture of different insurance policies and find out what's best for you. We'll help you figure out the key differences in carriers, claims settlement ratios, and network garages to make sure your policy is what you need.

Parameters ICICI Lombard Car Insurance Universal Sompo Car Insurance
Claim Settlement Ratio 65.77% 87.96%
Cashless Network Garages 9700+ 4600+
Third party Cover Covered up to Rs. 7.5 lakhs Covered up to Rs. 7.5 lakhs
Personal Accident Cover Covers up to Rs. 15 lakhs Covers up to Rs. 15 lakhs
  • Roadside assistance cover
  • Zero depreciation cover
  • Engine protect cover
  • Garage cash cover
  • Consumables protect cover
  • Loss of personal belongings cover.
  • Depreciation waiver
  • Return to invoice
  • Loss of personal belongings
  • Engine protector
  • Roadside assistance cover
  • Hospital daily cash
  • Cost of consumables
  • NCB Protector
  • Tyre and Rim secure
  • Loss of Driving license
  • Accidental hospitalization
  • Daily Cash allowance
  • Secure Towing
  • Key Replacement clause.
  • Instant quote with no paperwork
  • Touchless policy issuance
  • Transparent process
  • Fast & convenient
  • No break-in coverage.
Affordable premiums
A strong network of garages
24x7 assistance
Types of Policies
  • Third-party car insurance
  • Private car package policy
  • Stand-alone own damage car insurance.
  • Motor private car insurance policy
  • Comprehensive car insurance
  • Third party car insurance.
  • Coverage for natural disasters like earthquakes, floods, fires, and storms
  • Coverage for theft, accidents, and terrorist activities
  • Third-party legal liabilities cover.
The motor private car insurance policy covers:-
  • Fire
  • Explosion
  • Natural disasters
  • Self-ignition
  • Theft
  • Personal accident
  • Theft
  • Road, rail, inland waterway.

What is covered in ICICI Lombard and Universal Sompo Comprehensive Car Insurance?

Premium Features ICICI Lombard Car Insurance Universal Sompo Car Insurance
Loss or damage to own car due to an accident
Loss or damage to own car in case of fire
Loss or damage to own car in case of natural calamity
Theft of your car
Personal accident cover
Third party vehicle and property damage


Comparison of ICICI Lombard Car Insurance and Universal Sompo Car Insurance online leads to cost efficiency due to low operating costs to maintain online.  PolicyBachat helps to calculate the pros and cons of the policy and buy the desired policy. PolicyBachat gives you the distinction between the carrier backgrounds, claim settlement ratio, product portfolio, pricing, best coverages, suitability, and network garages to configure the right insurance policy.

Get the top carrier quotes to distinguish the best insurance plan in terms of premium, coverage, and holding experience in the insurance sector. At PolicyBachat, a user can buy/renew a car insurance policy in simple easy steps instantly.

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. When you buy insurance for your car, you would want to get insurance that is high on benefits and low on costs.

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