A comprehensive Motor Insurance policy for your car that keeps it secure against damage caused by natural and man-made calamities, including acts of terrorism. Avail of Own Damage, Personal Accident cover for owner-driver and Third Party Legal Liability cover all in one policy.
- A digitally signed policy is issued immediately through our online facility.
- Access to over 2700+ network garages for cashless claims servicing across India.
- Doorstep surveyor facility to cover your car with break-in insurance.
- Optional Personal Accident covers for co-passengers.
- Avail NCB on renewals if no claim is made during the previous policy period.
- Towing charges up to 1,500 in case of accidental damage (as per the policy
terms and conditions).
- Transfer all No Claim Bonus (NCB) benefits when shifting your motor insurance policy to ICICI Lombard.
- 5% discount for recognized Automobile Associations Members.
- 2.5% discount for ARAI approved anti theft device in your vehicle.
- Avail add-on covers for items such as fog lights, music system and seat covers.
- Buy Online and pay in installments without any extra charges.
What is covered?
Loss or Damage to your vehicle against Natural Calamities
Fire, explosion, self-ignition or lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide, rockslide.
Loss or Damage to your vehicle against Man-made Calamities
Burglary, theft, riot, strike, malicious act, accident by external means, terrorist activity, any damage in transit by road, rail, inland waterway, lift, elevator or air.
Personal Accident Cover
Coverage of 2 Lakhs for the individual owner-driver of the vehicle while travelling, mounting or dismounting from the car. Optional personal accident covers for co-passengers available.
Third Party Legal Liability
Protection against legal liability due to accidental damages resulting in the permanent injury or death of a person, and damage caused to the surrounding property.
What is not covered?
- Normal wear and tear and general ageing of the vehicle.
- Depreciation or any consequential loss.
- Mechanical/ electrical breakdown.
- Wear and tear of consumables like tyres and tubes unless the vehicle is damaged at the same time, in which case the liability of the company shall be limited to 50% of the cost of replacement.
- Vehicles including cars being used otherwise than in accordance with limitations as to use.
- Damage to/ by a person driving any vehicles or cars without a valid license.
- Damage to/ by a person driving the vehicle under the influence of drugs or liquor.
- Loss/ damage due to war, mutiny or nuclear risk.
- All vehicles are insured at a fixed value called the Insured’s Declared Value (IDV).
- IDV is calculated on the basis of the manufacturer’s listed selling price of the vehicle (plus the listed price of any accessories) after deducting the depreciation for every year as per the schedule provided by the Indian Motor Tariff.
- If the price of any electrical and / or electronic item installed in the vehicle is not included in the manufacturer’s listed selling price, then the actual value (after depreciation) of this item can be added to the sum insured over and above the IDV.
- In case of vehicles fitted with bi-fuel system such as Petrol/ Diesel and CNG/ LPG, permitted by the concerned RTO, the CNG/LPG kit fitted to the vehicle is to be insured separately at an additional premium of 4% on the value of such kit. You need to specifically declare this in the proposal form.
Choosing the right Car Insurance
When it comes to choosing insurance for your health, travel, student, home, etc. you have many options to compare between the various policies available in the market. As each company offers innovative covers, it becomes easier for you to make a decision based on the coverage as well as the premium offered. However, this does not hold true when buying Car Insurance.
Car Insurance in India is governed by the All India Motor Tariff, so the coverage for your vehicle would be the same no matter which company you would buy it from. Moreover, car insurance is mandatory and needs to be renewed every year.
Here are a few pointers to help you to make a more informed decision on car insurance
Car Insurance gives you financial protection when your car is damaged due to an unforeseen event. A few things that you should keep in mind when buying Car Insurance, are:
Reliable service - When looking for a car insurance look for an established company with an extensive garage network. Discuss with friends, ask colleagues, talk to people… this will be enough to get you started on the right track. Use the opinions you collect to further your research over the internet. Visit prominent garages in your area and check which insurance company they are associated with. This will make sure that you get the best service along with easy settlement of your claim.
Financial stability - The insurance business is all about settling claims in the face of unforeseen events. So check the insurance company’s claim ratio. Use websites like IRDA (Insurance Regulatory and Development Authority) to verify the company’s legitimacy. Also, check the company’s credit rating for more info.
Type of coverage - Car Insurance is a combination of Own Damage and Third Party Liability coverage. In simple terms, Own Damage part of the insurance covers any damage/theft (total or partial) of the car, whereas Third Party Liability covers any damage/ injury caused to a person/ property by the insured car. So make sure you opt for comprehensive coverage to protect yourself and your car from any unforeseen events.
Top Reasons to Choose ICICI Lombard
ICICI Lombard offers a comprehensive Car Insurance package for a reasonable price. Within just two minutes, you would know how much you could save on your Car Insurance premium, because that is how fast it is to calculate a real-time quote.
Instant Policy, No Paperwork: ICICI Lombard offers instant Car Insurance policy online without any paperwork. Since the policy is issued online instantly, there is no waiting period or lengthy paperwork involved. You do not have to worry about the safekeeping of the original policy, since a digitally signed and valid legal copy would always be accessible to you anywhere and anytime in your online account.
Nationwide Network: ICICI Lombard Car Insurance policyholders can avail cashless servicing of their cars in any of the 2,700+ network of garages present nationwide. In case of unforeseen event, the company directly settles the expenses with the garage. Therefore, you do not have to pay anything from your own pocket.
Comprehensive Coverage: ICICI Lombard Car Insurance coverage ensures that in the event of an unforeseen event the damages caused to your vehicle and any bodily injury caused to self and surrounding property as a result of the incident are also taken care of. If there is a liability claim from the injured party, your car insurance shall also provide you with the financial support to deal with it. What you get is an all-in-one policy covering Car + Personal Accident + Third Party Legal Liability. Moreover, you are well covered from theft, so even if your car is stolen, you do not need to dip into your savings to recover the loss.
Reputed Name: ICICI Lombard is the largest private sector general insurance company in India with a Gross Written Premium (GWP) of 36,948 million (as of March 31, 2010). The company issued over 44 Lakh policies and settled over 62 Lakh claims, with a claim disposal ratio of 96% (percentage of claims settled against claims reported, as on March 31, 2010). The company has been assigned a domestic rating of ‘iAAA’ by ICRA (an associate of Moody’s Investors Service) for highest claim paying ability and a fundamentally strong position, for the fourth consecutive year. ICICI Lombard Auto Insurance has been rated as having the highest customer satisfaction among car owners in a survey conducted by J.D. Power Asia Pacific in India out of 11 other auto insurance providers.
With so many advantages and the ability to utilize them from the comfort of your home, makes buying car insurance online, not only the right choice, but also the most obvious one. So the next time you buy a new car, or have to renew your existing motor insurance, do it online … the investment of a few minutes of your time online will ensure safe driving for many years to come, and could result in savings too.
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