ICICI lombard travel insurance vs Reliance

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1. When comparing ICICI Lombard and Reliance travel insurance for your trip to Europe, several factors come into play, particularly the claim settlement ratio, coverage options, and customer service.

   1. Claim Settlement Ratio:

   2. It’s crucial to check the latest claim settlement ratios for both ICICI Lombard and Reliance, as these can change. Generally, a higher claim settlement ratio indicates a greater likelihood of successful claims. As of October 2023, ICICI Lombard has a good reputation in this regard, but you should verify the most recent ratios for both insurers.

   3. Coverage Options:

   4. Evaluate the coverage each insurer offers for international travel, including medical expenses, trip cancellations, baggage loss, and emergency evacuations. Ensure that the policies cover activities you might engage in while in Europe (like adventure sports, if applicable).

   5. Customer Service:

   6. Research customer reviews and experiences related to the claim process for both providers. Strong customer support can significantly impact your experience, especially in the event of a claim.

   7. Exclusions and Limitations:

   8. Carefully read the fine print for any exclusions or limitations in coverage. This can make a significant difference in the event you need to file a claim.

   9. Pricing:

   10. Lastly, compare the premium costs against the coverage provided. Sometimes, the cheaper option may not provide adequate coverage, so balance cost with the level of coverage and service.

   If getting a higher claim settlement ratio is your priority, consider reaching out to friends or family for their experiences, checking online forums, and exploring recent ratings for both companies. Additionally, consider comparing their policies directly on their websites or through insurance comparison sites for more detailed insights.

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