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ICICI Lombard Car Insurance
ICICI Lombard car insurance policy provides legal and financial coverage to the insured car if it meets with an unforeseen incident on the road. Losses arising from third-party liabilities, theft, fire, natural or manmade calamities, etc., are covered under this car policy by ICICI Lombard General Insurance Company.
About ICICI Lombard General Insurance Company
ICICI Lombard General Insurance Company is a joint venture between ICICI Bank and Fairfax Financial Holdings Limited, a Toronto-based financial services company. This insurance provider operates in various sectors, offering general insurance, reinsurance, and claims management services. Motor insurance is one of the critical areas in which they specialise.
Recognised for its customer-centric approach and innovative insurance solutions, ICICI Lombard also places significant emphasis on the welfare of communities. This insurance company is also actively involved in health, road safety, disaster support initiatives, and other areas.
Key Features of ICICI Lombard Car Insurance
| Features | Coverage and Benefits |
| Third-Party Coverage | Yes |
| Claim Settlement Ratio | 96.75% |
| Personal Accident Insurance | Up to Rs. 15 Lakh |
| Network Garages | 5900+ |
| No Claim Bonus | Yes |
| No. of Zero Dep Claims | 2 |
| No. of Non-ZD Claims | Unlimited |
Benefits of ICICI Lombard Car Insurance
By purchasing ICICI vehicle insurance, a policyholder can avail of the following benefits:
- Policyholders can avail of cashless repairs in 5900+ network garages in India.
- The insurance company offers a quick, easy and hassle-free purchase process.
- The claim process for car policy is also easy and fast as it can be done via the website, app and call centre.
Types of ICICI Lombard Car Insurance Policy
The insurance company offers three types of car insurance policies to car owners. These include:
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ICICI Lombard Third-Party Insurance
Under the third-party car insurance, coverage is offered against accidental third-party liabilities arising from the insured vehicle. This policy covers death, injury or property damage of the third person.
The compensation offered in case of death or disability is unlimited (as decided by the Motor Claims Tribunal), while for property damages, it's limited to Rs. 7.5 Lakh.
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ICICI Lombard Standalone Own Damage Insurance
An ICICI own damage car insurance compensates a policyholder if their car sustains damages or losses due to an unanticipated emergency. These include damages from fire, theft, natural calamities, road accidents or manmade acts.
A SOAD car insurance can be purchased by policyholders who already have an existing third-party plan and want to cover their car from own damages as well.
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ICICI Lombard Comprehensive Insurance
ICICI Lombard comprehensive car insurance covers third-party damages and own damages sustained by the insured car. Damages caused by road accidents, theft, fire, strikes, riots, earthquakes, etc., along with third-party damages, are covered under this car policy.
Furthermore, an ICICI comprehensive car insurance policy can also be enhanced by purchasing add-ons at an extra premium.
ICICI Lombard Car Insurance Premium Calculator
An ICICI Lombard car insurance premium calculator can be used to get an estimated premium of car insurance before purchasing a policy.
Coverage Under ICICI Lombard Car Insurance
- Third-Party Damages: Liabilities arising from third-party death, disability or property damages.
- Fire: Losses sustained by the insured four-wheeler due to fire, self-ignition or explosion
- Theft: Total or partial loss of the insured car due to theft, burglary or housebreaking is covered under the ICICI vehicle insurance policy
- Natural Disasters: Damages sustained by the insured car due to cyclones, earthquakes, hurricanes or any other natural calamity
- External Means: Accidental damages caused due to collision or road accidents
- Man made Disasters: Damages sustained by the insured four-wheeler due to strikes, riots or terrorist activities
- In-Transit Damages: Damage to the insured car while in transit via rail, water, air, or road is also covered.
- Breakdown: Mechanical or electrical breakdown sustained by the insured car
- Wear and Tear: General wear, tear and depreciation borne by the insured vehicle are excluded from car policy coverage
- Drunk Driving: Accidental damages arising as a result of drunk driving or driving under the influence of drugs
- Invalid Driving License: Accidental damages to the insured vehicle when the driver was not carrying a valid driving licence are not covered under the policy
- Geographical Location: Damages sustained by the insured car outside the geographical location as mentioned in the car policy wording.
ICICI Lombard Car Insurance: Add-Ons
Engine Protect
An Engine Protect cover compensates for repairing or replacing a car’s damaged engine.
If your vehicle’s engine or its parts, such as the gearbox, crankshaft, etc., are damaged due to water logging, this add-on can come in handy.
Zero Depreciation Cover
A zero dep or nil depreciation cover allows the policyholder to get compensated even for the depreciation sustained by the insured car. This depreciation is not usually covered in a standard policy.
However, by buying a zero dep cover, you can cover this depreciation as well.
Loss of Personal Belongings
This car insurance add-on compensates for the loss of personal belongings that were
present in the car at the time of the accident or theft.
Consumables Protect
A Consumables Protect add-on provides coverage for the repair or replacement of consumables of the insured car that got damaged due to an accident.
Consumables include nuts and bolts, screws, washers, grease, oil filter, etc.
NCB Protect
The No Claim Bonus received under a motor insurance policy gets nullified if a policyholder makes a claim during the policy tenure.
Thus, to protect your NCB from becoming zero, an NCB Protect add-on can be purchased at an additional cost.
Return to Invoice
By purchasing a Return to invoice add-on, a policyholder can receive the car's invoice value at the time of total loss or theft.
Moreover, the insurer compensates the insurer for the road tax and registration charges during the settlement of the car insurance claim.
Key Protect
A Key Protect add-on offers you compensation for the repair or replacement of car keys
and locks at the time of theft/burglary/loss or damage to the keys of the insured vehicle.
Roadside Assistance Add-on
A roadside assistance cover helps policyholders repair their car in case it breaks down on the road.
The insurer offers services like towing of cars, supply of fuel, arrangement of keys, and battery jumpstart.
Tyre Protect
Damages to a car’s tyres are usually not covered in a standard car insurance policy.
By opting for the Tyre Protect add-on, you can get compensated for the repair or replacement of your car’s tyres damaged due to an unprecedented accident.
How to Renew ICICI Lombard Car Insurance?
Follow these steps for ICICI Lombard car insurance renewal from Policybazaar.com:
- Visit Policybazaar.com and choose "Car Insurance" from the homepage.
- For insurance renewal, Enter your car number in the provided form.
- Provide the details of your car, including RTO, make, model, variant, and registration year, on the subsequent pages.
- Select the ICICI Lombard car insurance from the mentioned list of plans
- Choose any desired add-ons to include in your plan
- Once you have decided on the plan and add-on selections, proceed with the premium payment
- Use the online payment mode to pay the premium amount securely.
- After completing the premium payment, your ICICI Lombard policy renewal will be complete. You will receive your car policy papers in your email ID.
How to File a Claim Under ICICI Lombard Car Insurance?
Follow these steps to file an ICICI car insurance claim:
1
Inform the Insurer:
Firstly, inform the insurance company about the damages sustained by the insured car within the next 48 hours.
2
Damage Assessment:
A surveyor will be sent to assess the damage sustained by the insured vehicle
3
Submit Documents:
Submit the required documents to the surveyor for claim verification.
4
Claim Settlement:
The insured car will now be sent to the ICICI-authorised network garage for repairs. Once the vehicle has been repaired, the insurer will directly settle the claim with the garage. In reimbursement claims, the claim amount will be reimbursed to you once the repairs are complete.
Documents Required to Raise a Claim Under ICICI Lombard Car Insurance
Following are the documents needed to raise an ICICI Lombard car insurance claim:
- Duly filled and signed claim form
- KYC documents
- Copy of motor insurance policy
- Copy of vehicle RC
- Bills of repair
- Estimates of repair
- Copy of Police FIR
- Licence copy of the driver driving the vehicle during the accident
FAQs
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Q1. What documents are required to buy ICICI Lombard car insurance?
Ans: You will not need documents to purchase an ICICI Lombard car insurance policy online. All you need is your car number, make model, RTO, car registration year, and other details. -
Q2. Can I enhance the coverage of my ICICI Lombard car insurance policy?
Ans: Yes, you can enhance the coverage of your ICICI Lombard four-wheeler insurance by purchasing add-ons along with your car policy. -
Q3. Can I transfer my existing No Claim Bonus (NCB) to ICICI Lombard car insurance?
Ans: Yes. You can easily transfer your NCB received from your previous insurer to ICICI Lombard car insurance. For this, you will need to present an NCB certificate, which you can get from your old insurer.
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Q4. Are there any discounts offered on the ICICI Lombard car insurance policy?
Ans: A policyholder can avail of the following discounts on the purchase of ICICI Lombard car insurance:- Discount on installing ARAI-approved anti-theft devices
- Discount for becoming a member of the Automobile Association of India
- NCB discount
- Discount on opting for voluntary deductibles
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Q5. How to check ICICI car insurance policy status online?
Ans: You can check the status of your ICICI four-wheeler insurance policy online from the insurer's website or Policybazaar.com. Simply log in to your account and know the status of your policy from the dashboard if you have purchased a policy from us. You can also get an ICICI Lombard car insurance policy download from here only. -
Q6. How can I calculate my car insurance renewal price?
Ans: To calculate the ICICI Lombard policy renewal premium, you can use a Car Insurance Premium Calculator available on Policybazaar.com. This calculator lets you calculate the estimated insurance renewal by taking into account your car’s make, model, variant, etc.
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##Claim Assurance Program: Pick-up and drop facility available in 1400+ select network garages. On-ground workshop team available in select workshops. Repair warranty on parts at the sole discretion of insurance companies. Dedicated Claims Manager. 24x7 Claim Assistance.