ICICI Lombard Comprehensive Bike Insurance

ICICI Lombard offers a comprehensive bike insurance policy that combines third-party insurance benefits with own-damage cover. It offers all-around protection on the road by providing financial protection against various risks associated with owning and riding a bike.

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Key Features of ICICI Lombard Comprehensive Bike Insurance

Here's a table highlighting the key features of ICICI Lombard comprehensive bike insurance:

Category Key Features
Financial Protection
  • Coverage against the damages caused by accident
  • Coverage against bike theft or total loss
  • Coverage against the damages caused by natural calamities or man-made disasters
  • Coverage against third-party liabilities arising in a road accident
Personal Accident (PA) Cover
  • Mandatory Personal Accident (PA) cover for compensation in case of disability or death in a road accident
Cashless Repair Facility Available at the network garage
No Claim Bonus (NCB)
  • Avail discounts on premium for claim-free years
  • Transferable upon policy renewal or purchase of a new bike

*Disclaimer: The above table is for illustration purposes only. To understand the exact coverage, please refer to the policy wording on the insurer's website.

Why Choose ICICI Lombard Comprehensive Bike Insurance?

A bike insurance provides legal & financial assistance in case of third-party liabilities arising from accidents and damage to your two-wheeler due to accidents, theft, or other unforeseen events like natural disasters or riots.

Opting for ICICI Lombard comprehensive bike insurance offers the following benefits:

  • All-round Protection: From minor repairs to major accidents, get all-round protection for the insured bike against several unforeseen risks.
  • Financial Security: The insured does not have to bear the expenses of repairs or replacements out of pocket.
  • NCB Benefits: For every claim-free year, you can enjoy a 50% discount on your own damage premium.
  • Peace of Mind: With comprehensive coverage, you can confidently ride the insured bike, knowing that it is always covered as it has both third-party bike insurance cover and own-damage cover.

ICICI Lombard Comprehensive Bike Insurance Insured Declared Value (IDV)

Insured Declared Value, or IDV, is the maximum amount the ICICI Lombard General Insurance Company Limited would pay during the payout. This amount represents the current market value of your bike and is payable in the event of total loss or unrecoverable theft of the insured bike. ICICI Lombard calculates IDV based on the current schedule given by IRDA, taking into account the depreciation of your bike over time.

ICICI Lombard Comprehensive Bike Insurance No Claim Bonus (NCB)

No Claim Bonus in ICICI Lombard comprehensive bike insurance policy is a reward given to the policyholder for good driving behaviour. It is a discount given for not filing any claims in the preceding policy period. ICICI Lombard provides NCB benefits that increase with each claim-free year and goes up to 50% of the own damage premium. Moreover, the NCB is transferable upon policy renewal or purchase of a new bike, providing additional savings to policyholders.

How to Buy ICICI Comprehensive Bike Insurance Online?

At Policybazaar Insurance Brokers Private Limited, buying a comprehensive bike insurance is convenient. Follow these steps to purchase the policy:

  • Step 1: Go to Policybazaar.com and choose 'Bike Insurance' from the 'Insurance Products' drop-down menu.
  • Step 2: Enter details about your bike, such as make, model, and year of manufacture.
  • Step 3: Compare different plans offered by ICICI Lombard and choose the one that suits your requirements best.
  • Step 4: Customize your bike insurance coverage by adding Personal Accident (PA) coverage or opting for additional benefits. You can also check other add-ons available with the policy and enhance the policy coverage.
  • Step 5: Make the bike insurance premium payment securely online through UPI, debit/credit card, or Internet Banking, depending on the availability.
  • Step 6: Get an email of your ICICI Lombard comprehensive bike insurance policy instantly.

How to Claim ICICI Comprehensive Bike Insurance Policy?

Filing a claim under ICICI Lombard comprehensive bike insurance policy is given below:

  • Report Incident: Inform the insurance provider about the incident by calling their customer support or filing an online claim.
  • Duly Fill the Claim Form: Download the claim form, fill it out, and submit it online.
  • Submit Documents: Provide necessary documents such as the ICICI comprehensive bike insurance policy, FIR in case of theft or accident, and repair estimates.
  • Assessment: The surveyor assigned by the insurance provider assess the damages and process your claim accordingly.
  • Bike Repairs: If the claim is approved, repair your bike at a network garage without any hassle if you have chosen cashless repair services. In case of reimbursement repairs, send the damaged bike to any nearest garage for repairs.
  • Claim Settlement: Once the repairs are done, ICICI Lombard will settle the claim amount directly with the garage in case of cashless repairs, ensuring a smooth experience for you. On the other hand, you have to pay the bill to the garage, and later, the insurance provider will pay the bill to your registered bank account.

FAQs About ICICI Lombard Comprehensive Bike Insurance Policy

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Average Rating
(Based on 27 Reviews)

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ICICI Lombard Comprehensive Bike Insurance Reviews & Ratings

4.3 / 5 (Based on 27 Reviews)
(Showing Newest 10 reviews)
Jayant
Faridabad, July 25, 2016
Nice Policy
I purchase a new bike and for that i buy a icici two wheeler insurance plan. The insurance is very nice and easy to renew on website portal. The tow service is free of cost. Garages are many and service is fantastic. Except tires and fiber parts the whole bike is secure.
Manoj
Patoda, July 08, 2016
Two Wheeler Insurance
The two wheeler insurance policy of my vehicle is fantastic. It has low premiums and the returns are high. The tow facility is free, and provided at any location. Service is awesome and good work done by members of the company. Online service is easy to use.
Gautam
Bhopal, June 25, 2016
Good Work
My two wheeler insurance plan is good and it come's in low premium. The policy has secure my whole vehicle except tires and fiber parts. Policy claims are high and easy to sanction due to fast service facilitate by the executives. Tow service is at any location but it may charge for that.
Sunil
Korba, June 05, 2016
bike insurance
Plz help me
Amrit
Delhi, May 21, 2016
cashless compersive two wheeler policy
I need cash less policy for my two wheeler
Amar
Bangalore, May 20, 2016
Insurances
Need to renewal two wheeler insurance
Zara
Bangalore, April 29, 2016
Best Services
premium is high but services matter. And better IDV compare to competitors. It was ease to pay online
Kshitij
Panipat, March 15, 2016
Marvelous
ICICI Lombard General Insurance is the finest insurer that's why i buy the two wheeler insurance policy plan from them. The policy coverage is high and the claims are even better. Whole bike is insure in the policy and the claiming amount is about one lakh forty thousand rupees. Good number of garages are providing service to the customers for better and fast recovery.
Arindam
Meerut, March 15, 2016
"Damn Good"
I have insurance for my two wheeler with icici lombard general insurance. Policy coverage is good but the premiums are little bit high. Claims are high and the amount is approx. Rs.1 L. Large number of garages are providing fast services and the recovery is so quick no long waiting.
Kumar
Chattarpur, March 15, 2016
Excellent Policy
Great two wheeler insurance policy plan which i buy from icici lombard general insurance. Large amount of garages are present in the city for on time service. Policy provide good claims which includes whole vehicle recovery. Service is the best provided by the executives and the staff members.

^The renewal of insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for a transaction may vary subject to additional data requirements and operational processes.

^The buying of Insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for transaction may vary subject to additional data requirements and operational processes.

#Savings are based on the comparison between highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.

*TP price for less than 75 CC two-wheelers. All savings are provided by insurers as per IRDAI-approved insurance plan. Standard T&C apply.

*Rs 538/- per annum is the price for third party motor insurance for two wheelers of not more than 75cc (non-commercial and non-electric)

#Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.

*₹ 1.5 is the Comprehensive premium for a 2015 TVS XL Super 70cc, MH02(Mumbai) RTO with an IDV of ₹5,895 and NCB at 50%.

*Rs 457/- per annum (1.3/day) is the price for the third-party motor insurance for private electric two-wheelers of not more than 3KW (non-commercial). Premium is payable on an annual basis