- 1 ICCI Lombard Car Insurance Introduction
- 2 Key Factors and Benefits of the ICICI Lombard Car Insurance
- 3 ICICI Lombard Car Insurance Policy Coverages
- 4 ICICI Lombard Car Insurance Exclusions
- 5 Add on covers available under ICICI Lombard Car Insurance
- 6 Rate of depreciation in ICICI Lombard Car Insurance
- 7 Claim process involved in ICICI Lombard Car Insurance
- 8 Documents that are required in ICICI Lombard Car Insurance Claim process
- 9 ICICI Lombard Car Insurance Premium and Maturity Calculator
- 10 FAQ on ICICI Lombard Car Insurance
- 11 ICICI Lombard Car Insurance Documents and Forms
- 12 About ICICI Lombard Two wheeler Insurance
ICCI Lombard Car Insurance Introduction
ICICI Lombard company is the largest private sector General Insurance Company. ICICI Lombard General Insurance Company is a joint venture between ICICI Bank and Fairfax Financial Holdings Limited. Fairfax Financial Holdings Limited is a Canadian Company. 74% of the ICICI Lombard General Insurance Company equity is held by ICICI Bank and remaining 26% of the equity is held by Fairfax Financial Holdings Limited. ICICI Bank is the second largest Private Sector bank in India.
You can purchase the ICICI Lombard Car Insurance Policy From Online. You can also renewal your ICICI Lombard Car Insurance Policy anywhere, any time through online at www.icicilombard.com.
ICICI Lombard stayed always ahead of its competitors by launching innovative products and using latest technologies. ICICI Lombard Car Insurance protects the car owner from financial loss caused by car damage.
Key Factors and Benefits of the ICICI Lombard Car Insurance
- Instant policy issuance.
- You can get your ICICI Lombard Car Insurance Policy through online so there is no paperwork involved in it.
- ICICI Lombard General Insurance Company provides you cashless claim service at 3100+ network garages across India.
- ICICI Lombard Car Insurance has allowance of Rs.500 as conveyance expenses while your car is in garage.
- Road side assistance service is also provided byICICI Lombard Car Insurance.You can get following benefits with roadside assistance service.
- Flat tyre change arrangement. battery jump-start.
- Arrangement of spare key. Breakdown support over phone.
- On spot technician for minor repairs.
- Towing of vehicle to the nearest garage on accident.
- Arrangement of rental vehicle. Arrangement / supply of fuel.
- Arrangement of accommodation.
- Message relay (passing urgent messages to relatives / colleagues during emergency).
- ICICI Lombard provides you free Renewal reminder service.
- You can track your claim status online.
- Towing charges up to Rs.1500 are covered under this policy.
ICICI Lombard Car Insurance Policy Coverages
ICICI Lombard Car Insurance Policy Cover loss or damage caused to your vehicle due to
ICICI Lombard car Insurance policy covers loss due to earthquakes, lightning, storms,cyclone, landslide,rockslide,self ignition and fire.
ICICI Lombard Car Insurance covers loss due to man made activities like terrorist activities, burglary, theft, riot, strike, accident by external means.
Personal accident Coverage:
ICICI Lombard Car Insurance provides you compulsory accident cover for owner of the vehicle while driving.you can also opt for personal accident cover for passengers.
Third party legal liability:
ICICI Lombard Car insurance covers legal liability due to accidental damage for
- Any permanent injury or death of a person.
- Any damage caused to the property.
ICICI Lombard Car Insurance Exclusions
- Any accidental loss / damage caused to the vehicle outside the geographical area.
- Any claim rising out of any contractual liability.
- Any accidental loss / damage caused to the insured vehicle due to,
- Usage of the vehicle against limitations in the policy.
- The vehicle driven by a person other than the driver or in the absence of driver.
- Any damage or loss caused to a property arising from any consequential loss.
- ICICI Lombard Insurance policy does not cover any loss / damage caused to your vehicle due to any nuclear accident, loss caused due to nuclear weapon materials.
- ICICI Lombard Insurance policy does not covers loss / damage caused to your vehicle due to war, foreign enemies or war like activities.
- It does not cover any loss / damage ,if the damage caused due to the person driving the vehicle at the time of accident under the influence of drugs / alcohol.
- It does not cover the loss due to wear and tear,mechanical or electrical breakdown, failures or breakages.
Add on covers available under ICICI Lombard Car Insurance
- Zero depreciation cover: ICICI Lombard car Insurance policy provides Zero deduction for depreciation on replaced vehicle parts.
- Accident cover facility: It covers insurance for co-passengers up to Rs.2 lacs.
- No Claim Bonus(NCB): This benefit will be valid,if you have not claimed in your valid policy.this is also valid if your previous policy was not with ICICI Lombard.
- Voluntary deductible: Additional discount on premium will be available to you, if you have opt for voluntary deductible.Final amount will be settled after deduction of depreciation on parts.
- Third party liability coverage : It is an Insurance policy purchased by insured for protection against the actions of another(third) party.
- Discount on anti theft devices: You can get a discount of up to 2.5% on ARAI(automobile research association of india) approved anti theft devices.
Rate of depreciation in ICICI Lombard Car Insurance
- For all rubber / nylon / plastic parts, tyre and tubes batteries and air bags – 50%.
- For fiberglass components – 30%.
- For all parts made of glass – NIL.
Rate of depreciation for all other parts including wooden parts will be as per the following table:
|Age of Vehicle||% of depreciation|
|Not exceeding 6 months||NIL|
|Exceeding 6 months,but not exceeding 1 year||5%|
|Exceeding 1 year but not exceeding 2 years||10%|
|Exceeding 2 years,but not exceeding 3 years||15%|
|Exceeding 3 years,but not exceeding 4 years||25%|
|Exceeding 4 years,but not exceeding 5 years||35%|
|Exceeding 5 years, but not exceeding 10 years||40%|
|Exceeding 10 years||50%|
Rate of depreciation for painting:The depreciation rate of 50% will be available on the material cost of total painting charges. In case of consolidated bill for painting charges 25% of the depreciation will be available.
Sum Insured Declared value(IDV): The IDV of the vehicle is fixed based on manufacturers listed selling price of the brand and model.
%Depreciation for fixing the IDV of the vehicle in ICICI Lombard Car Insurance:
|Age of the Vehicle||% of depreciation for fixing IDV|
|Not exceeding 6 months||5%|
|Exceeding 6 months but not exceeding 1 year||10%|
|Exceeding 1 year but not exceeding 2 years||15%|
|Exceeding 2 years but not exceeding 3 years||30%|
|Exceeding 3 years but not exceeding 4 years||40%|
|Exceeding 4 years but not exceeding 5 years||50%|
Claim process involved in ICICI Lombard Car Insurance
If you have met with an accident you have to follow the below steps in ICICI Lombard Car Insurance claim process:
- Note down the number of the vehicle involved in the accident,if any.
- Note down the name and contact details of the witness,if any.
- Contact ICICI Lombard General Insurance Company by its call center number 1800 2666, and get your claim number / reference number.
- Their call center representative will provide you the list of required documents for claim process and also the details of their prefered cashless garage.
- File FIR in the nearest police station in case of any property damage,bodily injury,theft and major damages.
- After registering the claim,their customer service manager will contact you with in 24 hours of registering the claim.
- Please submit all the required documents to the dealer / service manager and get them verified with the originals.
- They will survey the damaged vehicle by their dedicated service manager and give spot approval after assessment.
- The payments will be made directly to the garage,if you have repaired your vehicle from any of their authorised garage.
- If you have repaired your vehicle in any garage other than company authorised garages bills you need to submit your bills to the company.
- The balance amount has to be paid by Insured,after calculating the depreciation on parts of the vehicle.
- After completion of repairing your vehicle the vehicle will be delivered to your reference address that you are given the authorised policy.
Documents that are required in ICICI Lombard Car Insurance Claim process
For Accident Claims:
- Duly signed claim form.
- Copy of the RC book.
- Copy of the driving license.
- Copy of the first two pages of the policy.
- FIR on case to case basis.
- Original estimate.
- Original Repair invoice and payment receipt(for cashless garage).
- Stamp required in case of company registered vehicle.
For Theft Claims:
- Duly signed Claim form.
- Copy of RC book.
- Copy of driving license.
- Policy Copy.
- Original FIR copy.
- RTO transfer papers duly signed along with forms 28,29,30 and form 35.Form 28 is needed in triplicate and Forms 29&30 are needed in duplicate.
- Final report-A no trace report from the police saying that the vehicle can not be located.
For Third party Claims:
- Duly signed Claim form.
- Police FIR copy.
- Driving license copy.
- Policy copy.
- RC copy of the vehicle.
- Stamp require in case of the company registered vehicle.
ICICI Lombard Car Insurance Premium and Maturity Calculator
By using ICICI Lombard car Insurance Maturity Calculator you can calculate the minimum premium to be paid to take ICICI Lombard car Insurance policy by giving some required information.
FAQ on ICICI Lombard Car Insurance
1.What are the benefits of the buying car insurance online?
Ans: When buy your car insurance policy in online,you can get an instant policy,because there is no paperwork involved in it. In addition to that you have multiple options to pay the bill,e.g.credit card,net banking,debit card etc.
2.What are the services provided under ICICI Lombard roadside assistance?
- Breakdown support over phone.
- Minor repairs.
- Battery jump-start.
- Flat tyre.
- Arrangement of keys.
- Towing on breakdown or accident.
- Arrangement of rental vehicle.
- Arrangement / supply of vehicle.
- Arrangement of accommodation.
- Message relay.
3.How can I avail Roadside assistance?
Ans: To get Roadside assistance service,you can call to ICICI Lombard customer care number 1800 2666, and follow the IVR instructions.
4.Is my No Claim Bonus Transferable?
Ans: Yes,If you are switching to ICICI Lombard from any other insurance company,and accrued some NCB from your previous insurer, you can get the same transferred if your vehicle is insured your within 90 days.