ICICI Lombard Car Insurance

Why ICICI Car Insurance?

Availing a valid Car Insurance policy is mandatory as per The Motor Vehicles Act 1988.  Apart, from this having a car insurance plan ensures the safety of one’s vehicle against damages caused due to accidents, thefts, or any kind of liabilities arising out of damages caused to someone else’s property or to some other person.

ICICI Lombard Car Insurance Plan at a Glance

Key benefits ICICI Lombard Car Insurance as the insured owner:

• The ICICI Lombard General Insurance company offers roadside assistance along with the entire insurance plan that it issues.
• The company specializes in servicing of claims and their settlement in the fastest possible time.
• There is a facility of cashless claim settlement across 3300+ preferred garages across the country.
• The company provides for an immediate copy of the policy issued.
• A daily allowance is provided until the period the buyer’s car is in the garage.
• The company provides zero depreciation cover.
• The buyer also gets accidental coverage amounting up to Rs.2 lakhs for co-passengers, if any.
• The ICICI Lombard General Insurance company also offers a No Claim Bonus (NCB), subject to no claims having been made during the policy period. NCB can be availed of even if the policy being renewed has been taken from other institutions.
• Doorstep inspection facility is also provided in cases of break-in insurance.
• The ICICI Lombard Car insurance plan provides Towing Facility in the event of a breakdown or accident
• The company offers a discount of 5% to the registered members of automobile associations.
• A comprehensive car insurance plan is offered by the company which covers for both third party liability and own damage liability under the same plan.
• These ICICI Lombard Car Insurance plans are issued for a period of one year.

ICICI Lombard Car Insurance Coverage Details

The following contingencies are covered for in the ICICI Lombard car insurance plan:

• Any kind of loss or damage due  to natural calamities which may include fire, self-ignition or lightning, explosion,  earthquake, hurricane, flood, storm, typhoon, tempest, cyclone, inundation, frost, hailstorm, rockslide or landslide
• Man-made causes which may cause damage like theft, burglary, riot, malicious act, terrorist activity, damage while the car is in transit by rail, road, inland waterway, elevator, lift, or air
• A mandatory Personal Accident cover to the driver or owner of the vehicle while driving or travelling and mounting or dismounting from the vehicle. The coverage under the ICICI Lombard Car Insurance policy is provided for up to Rs.2 lakhs. Optional accidental coverage for co-passengers can also be availed for.
• A third party covers which compensate for any bodily injury or any damage to any third party or the surrounding property by virtue of the car.

Sum Insured under ICICI Car Insurance Policy

• The ICICI Motor Insurance plan provides for insurance of the vehicle at a fixed value called the Insured's Declared Value (IDV).
• IDV is arrived at by adding the value of the manufacturer's listed selling price of the vehicle to the listed price of accessories if any minds the depreciation per year as applicable according to the Indian Motor Tariff.
• In case the price of any electrical or electronic item installed in the vehicle is excluded in the manufacturer’s listed selling price, then the value of the item post depreciation can be added to the sum insured amount above the calculated IDV.
• The ICICI Lombard Car Insurance plan provides cover at an additional premium of 4% of the value of the kit for vehicles fitted with a bi-fuel systems like petrol and Diesel and CNG or LPG as valued by the concerned RTO. However, a separate declaration regarding the same has to be given in the proposal form.

Procedure to Claim ICICI Lombard Car Insurance Policy

In order to apply for an ICICI Lombard car Insurance claim with the ICICI Lombard General Insurance company, an applicant has to register the claim. The claim in case of an accident can be made by following the below mentioned steps:

• The plan buyer is required to note down the number of another vehicle (if any) involved in the accident and the names and contact details of the witnesses (if any).
• The plan buyer has to call at the dedicated toll-free number and inform the concerned executive about the accident. The plan buyer will then be given a claim/reference number.
• The call centre executive will then inform the plan buyer regarding the required documents and the list of the networked garages.
• The ICICI Lombard Car Insurance plan buyer has to file a First Information Report (FIR) with the police in case of property damage, bodily injury, theft and other major damages.
• The customer service manager will then contact the plan buyer within 24 hours of registration of the claim.
• The ICICI Lombard Motor Insurance plan buyer is then required to submit all the documents to the dealer or the customer service manager (CSM) along with the originals.
• The CSM then after spot verification gives an estimate of the damage caused and gives instant approval.
• The payment to be made against the repairs is done directly to the networked garage after all the necessary repair work has been done.
• The CSM will inform the plan buyer in case any extra amount has to be paid by the buyer, as per the policies of the plan.

Documentation Required to Claim Car Insurance by ICICI Lombard

The ICICI Lombard General Insurance Company requires certain documents in order to settle a claim. The documents required differ depending upon the type of the claim.

In case of accidents:

• A claim form duly filled and signed by the plan buyer.
• RC copy of the vehicle
• Copy of the plan buyer’s driving license.
• First two pages of the copy of the policy
• First Information report, if applicable.
• An Original Estimate Slip
• Payment receipt and original repair invoice.
• Only Repair Invoice in case of repairs undertaken in the cashless and networked garage.
• In the case of a company registered vehicle, a stamp is required.

In Case of Theft:

• A claim form duly filled and signed by the ICICI Lombard Car Insurance policy buyer.
• RC copy of the vehicle along with the keys of the vehicle.
• Copy of the plan buyer’s driving license.
• A copy of the ICICI Lombard Car Insurance policy
• A true copy of the First Information report.
• RTO transfer papers along with Form 28 (3 copies), 29 (2 copies), 30 and Form 35 (in cases of hypothecated vehicles).
• A no trace report issued by the police claiming that the vehicle is nowhere to be found.
• The claim has to be made immediately by calling at the specified toll-free number.
• In the case of a company registered vehicle, a stamp is required.

In Case of Third-party Claims:

• A claim form duly filled and signed by the plan buyer.
• RC copy of the vehicle
• Copy of the plan buyer’s driving license.
• A copy of the policy
• A copy of the First Information report.

Some Extra benefits of availing Car Insurance with ICICI Lombard:

Roadside Assistance:

• Roadside Assistance is provided in cases of a sudden breakdown or accident of the vehicle. This service is provided in cases of minor repairs, Flat tyre, Battery jump start, Arrangement of keys, Towing on breakdown or accident, Arrangement of a rental vehicle, Arrangement or Supply of fuel, Arrangement of Accommodation, Message Relay.
• Roadside assistance can be availed for a maximum 4 times in a given policy period.
• In order to avail this facility, the ICICI Car Insurance plan buyer has to call at the designated toll-free number and follow the instructions.
• Roadside assistance service is available 24*7.

Endorsements:

The endorsement is a document which states any changes in the term of the policy. Endorsements are of two types:

1. Premium bearing endorsement: It is an endorsement which is done at the cost of an additional premium. Some of the examples of such endorsements are Transfer of ownership, Addition of LPG/CNG kit and change of RTO location.
2. Non Premium bearing endorsement: It is an endorsement which is done at no extra cost in the form of an additional premium. Some of the examples of such endorsements are rectification in contact details, rectifications in the engine or chassis number and additions of hypothecation.

Online Purchase:

The company offers for online purchase of insurance policies. Such ICICI Lombard Car insurance plans are issued instantly without the hassles of supplying too many documents. The buyer may choose to pay via credit cards (Visa, Master Amex Card), Net banking or even debit cards.

Only private vehicles and two-wheelers insurance plans can be purchased online.

Methods of applying for ICICI Lombard car insurance plans:

Car insurance plans offered by the company can be applied to through multiple channels like:

1. Individuals wishing to buy car insurance plans can simply call the Sales helpline of the company to speak to the company’s representative.
2. They can provide their name, mobile number and details of the product they wish to purchase on the website of the company and request for a callback.
3. Online car insurance plans can be simply applied to by clicking the ‘Get a quote and Buy’ tab available on the website. The process of policy purchase can be done in three easy steps:
4. a) All he needs to do is log in to the company’s website and select the relevant tab. On doing so a new webpage will open asking for certain details such as current insurance policy details, registration details of the vehicle for which the insurance is being sought, personal details of the plan buyer such as his name, marital status, mobile number, email id and other such related details, The details of the vehicle owned by the plan buyer. These details include information such as the model no and make of the car, the manufacturer of the car along with the ex-showroom price of the car. Along with these details, the plan buyer also needs to enter details pertaining to previous policy. These details include previous policy issuance and expiry dates, no. of claims made in the previous plan and details of the NCB, if any. Based on the information provided by the buyer the page calculates the premium to be paid by the buyer in order to avail the plan. The applicant may play with various options till he reaches a premium amount which is convenient for Having reached the premium amount to be paid, the buyer has to click on the ‘continue’ button.
5. b) A new page opens asking for the buyer’s credentials such as his name, age, residential address, official address, email id, telephone number, and credentials of all the members to be insured, the details of the nominee(s) of the plan. The plan buyer also has to supply additional details in regard to the vehicle; these details include the engine/chassis number, vehicle registration plan, and loan or hypothecation details if any. The ICICI Lombard Car Insurance plan buyer needs to fill up the relevant details. The details provided should be accurate. On having supplied the necessary details, the buyer again needs to click on the ‘continue’ tab.
6. c) A new page will open, wherein; the policy buyer is required to make payments for the policy bought as per the decided premium amount.
7. Lastly, customers may also visit the company’s branches or get in touch with an agent to buy the plans required.

ICICI Lombard Car Insurance - FAQs

1. Do I need to ensure my Car?

Insurance helps you to cope with the losses like accident, theft, fire or a like incident happened to your car subject to the events covered by the policy. It also assures that you and your passengers will be taken care of against bodily injuries if any.

2. Can I purchase ICICI Lombard Car Insurance policy online?

Yes, you can purchase ICICI Lombard car insurance online and make the payment through your Debit or Credit card, or Internet Banking.

3. What does Constructive Loss mean in ICICI Lombard car insurance policy?

The term Constructive Loss refers to accidental damage/loss to your car when the cost of repairing comes out to be more than 75% of its IDV.

4. Does ICICI Lombard provide roadside assistance?

Yes, ICICI Lombard car insurance policy includes roadside assistance and the service is available 24x7. You need to give a call on 1800 2666 and follow the IVR instructions.

5. Can I renew my existing ICICI Lombard car insurance online?

Yes, ICICI Lombard allows you to renew your existing car insurance policy online 60 days prior to its expiration date. In case the policy has expired already, an inspection of the vehicle would be done by an authorized surveyor of the insurance company. A successful inspection along with the submission of required documents would lead to the issuance of the new policy.

6. Can I renew my other car insurance policy with ICICI Lombard?

Yes, you can renew your existing car insurance policy with ICICI Lombard and make the payment via a Debit/Credit card, or Internet Banking.

7. What type of vehicles does ICICI Lombard insure?

ICICI Lombard offers insurance coverage to private cars and two-wheelers.

8. Does ICICI Lombard cover accidental damages to vehicle only or other expenses too?

ICICI Lombard provides assistance only for the damages and not for the other expenses or additional costs like fuel, damaged/broken parts, taxi to home etc.

9. Can I transfer my NCB discount?

Yes, if you have accrued bonus and you want to switch to ICICI Lombard from your existing car insurance policy, then you need to submit the required document at least 90 days prior to the renewal date. The same goes for when you want to switch to any other insurer from ICICI Lombard.

10. How many times can I avail roadside assistance during the policy period?

This add-on permits roadside assistance at most 4 times during the policy period. Only the services opted for at the time of purchasing the policy can be claimed.

ICICI Lombard Car Insurance - Latest News