CAR INSURANCE
CAR INSURANCE
What is
car insurance?
A
comprehensive car insurance policy, also known as motor package insurance,
saves you money when your car is damaged in an accident or natural calamity. It
also covers your vehicle against theft and burglary. At times, you may end up
hurting others or damaging property in an accident. A car insurance policy
covers such third party liabilities as well. If you own a car in India, having
third party insurance is a must for you. That’s why it’s crucial to buy and
renew your policy on time to stay on the right side of the law and be covered
against car damages. At an affordable premium, our reliable car insurance
policy protects you against all these risks so that you can drive worry-free.
Apart
from comprehensive car insurance, third-party only and own-damage only car
insurance policies are also available. You can choose the policy type as per your
needs.
Why should you buy a
comprehensive car insurance policy?
Here are six benefits that are
hard to pass up.
1
Third-party car insurance is
mandatory
As per
the Motor Vehicles Act of India, it is compulsory for all vehicles running on
the road to be insured. As a car owner, you must have third party liability
coverage.
2
Saves you from traffic fine
As per
the new Motor Vehicle Act 2019, you can get a traffic fine of ₹2000 for
driving without car insurance. If you get caught for a second time, the penalty
would be ₹4000.
3
Provides personal accident
coverage for owner driver
Our car
insurance policy provides ₹15 lakh coverage for injuries to
the registered owner driver while travelling in the car, or getting in or off
the car.
4
Gives easy access to cashless
garages
We have a
network of 4300+ cashless garages that take care of your car post damage. We pay
for the repairs as per the claim and settle the dues directly with the garage.
5
Covers damages to the car
Our car
insurance policy covers any damages to your car due to accidents or natural
calamities and takes care of the repair costs.
6
Covers your car against theft
In case
your car is stolen and cannot be recovered, we pay for your loss.
What are the different types of
car insurance policies?
We offer all that you require! Choose as per your
needs.
Private car package policy
A
comprehensive car insurance policy offers complete protection to you. It covers
not only the costs incurred on damages to a third party but also the damages to
your car. This policy type also covers car theft and damages caused by fire,
burglary and natural disasters.
Stand-alone own-damage car
insurance
With our
stand-alone own-damage car insurance, you are covered for any accidental
damages to your car. These could be due to natural disasters like earthquake,
flood, cyclone, and landslide, or due to manmade disasters like theft,
burglary, riot or strike. To buy this insurance, you should have an active
third party insurance policy of the vehicle.
Third party car insurance
In this
type of insurance policy, you are covered against legal liabilities arising out
of an accident. If your car causes injuries to a third party or damages
surrounding property, then we will take care of the expenses.
Why should you buy car insurance online from ICICI
Lombard?
We make
life simpler!
Affordable
premiums, easy renewals, quick claim settlement are some of the key features of
our private car package insurance policy. We also have a set of certified
workshops that provide digital survey* for speedy claim processing, pick-up and
drop, sanitisation of high touch points on your car, dedicated customer service
manager and quality assurance** on repairs.
Besides,
we also offer unique additional covers at a nominal extra premium that can
significantly boost your car insurance plan. By opting for add-ons in a car
insurance policy, you can save a lot of money in repairs.
INCLUSIONS
What’s included:
·
Coverage
for natural disasters like earthquakes, floods, fires and storms
·
Cashless
repairs in 4300+ network garages✝︎
·
Coverage
for theft, accidents and terrorist activities
·
No claim
bonus^ up to 50%
·
₹15 lakh Personal Accident Cover
·
9 add ons
to choose from
·
Third-party
legal liabilities cover
·
Instant
claim settlement via InstaSpec
EXCLUSIONS
What’s not:
·
Car wear
& tear and ageing
·
Damages
while driving under the influence of drugs or liquor
·
Any
consequential loss
·
Mechanical
or electrical breakdown
·
Damages
while driving without a valid license
·
Loss/damage
due to war, mutiny or nuclear risk
ICICI Lombard car
insurance plan add-on benefits
Choose from an assorted range of
add-ons, for an additional premium, when buying ICICI Lombard car insurance
online.
Roadside assistance
cover
Helps you in case of a breakdown/accident with – towing to
network garage, battery jumpstart, minor repairs, on-call support and taxi
benefits.
Engine protect
cover
Pays for repair or replacement of a damaged engine. A handy
add-on for those who stay in a region prone to flooding during the rains, or if
you own a high-end car.
Consumables protect
cover
Pays for repair or replacement of nut and bolt, screw, washer,
grease, lubricant, clips, A/C gas, bearings, distilled water, engine oil, oil
filter, fuel filter, break oil and related parts.
Zero depreciation
cover
As your car ages, the value of its parts decreases or
depreciates. At the time of a claim, Zero Dep. cover compensates you for the
claim amount that gets deducted because of depreciation.
Garage cash cover
Gives a daily allowance for alternate travel while your car is
repaired at the garage. You can use this money to pay for cab or auto fare.
Loss of personal
belongings cover
Covers personal belongings, such as your laptop, phone and
clothes in your car. It has you covered, in case these belongings go missing
from your car or get damaged in an accident.
For detailed terms & conditions of above covers, read Private car package policy wordings , Stand-alone own damage private car package policy wordings
What factors impact Insured’s
Declared Value (IDV)?
IDV plays a key role in determining your car insurance price
In a car insurance policy, the Insured’s Declared Value (IDV) is
the fixed value at which we insure your vehicle. We calculate the policy sum
insured based on the manufacturer's listed selling price of the vehicle + the
listed cost of any accessories. We derive the amount after deducting the
depreciation for every year as per the Indian Motor Tariff.
Suppose you have installed any electronic item in the car, which
is not included in the manufacturer's listed selling price. In that case, we
add the actual value (after depreciation) of the item to the policy sum insured
over and above the IDV.
Coverage and Benefits
|
Car damages |
|||
|
Theft coverage |
|||
|
No claim bonus up to 50% |
|||
|
Add-ons |
|||
|
Cashless claim |
|||
|
Digital inspection on the IL Take Care app |
N/A |
||
|
Damage to third party property |
|||
|
Third party’s death or injury |
|||
|
₹15 lakh personal
accident coverage MOTOR
INSURANCE COMMON QUERIES ABOUT MOTOR INSURANCE (FAQS) Can I renew my motor insurance online? Yes, you can renew your motor insurance policy online,
starting 60 days before the expiry of your existing policy. In case your
vehicle insurance policy has already expired, our authorised surveyor will
inspect the vehicle, before policy issuance. The policy would only be issued
subject to a satisfactory inspection and submission or the required documents. Why do I need to insure my vehicle? Your vehicle is probably one of the most expensive things
you own. Vehicle insurance protects this asset and helps you cope with the
financial loss caused by accidents, damage or theft. Another reason is that
while driving, you are responsible for the safety of: What are the benefits of buying Motor Insurance online? When you buy Motor Insurance online, you get an instant
policy, as there is no documentation or paperwork involved. In addition, you
have the advantage of choosing from multiple payment options e.g. Credit Card
(Visa, Master Amex card), Net banking, Debit Card etc. Is my No Claim Bonus (NCB) transferable? Yes, in case you are the customer of ICICI Lombard vehicle
insurance policy, or are switching/changing to ICICI Lombard from any other
insurance company, and have accrued some NCB from your previous insurer, you
can get the same transferred, provided the vehicle is insured within 90 days of
your renewal due date. The same applies if you switch/change from ICICI Lombard
to other insurance company.
|
Comments
Post a Comment