ICICI Lombard Car Insurance

ICICI Lombard is one of India’s most renowned insurance companies in India. The general insurance company functions as a joint venture between Fairfax Financial Holdings, Canada and ICICI Bank, India. The principal features of ICICI Lombard car insurance plan include cashless repair at network workshops,  24×7 claim assistance, roadside assistance, cashless claims at more than 3,500 network garages, and an option to purchase and renew the policy online.

ICICI Lombard Car Insurance at a Glance

Key Features Highlights
Network Garages 3500+
Zero Depreciation Cover Add-on benefit
Automobile Association Membership Discount 5%
Accident Cover Rs. 2 lakhs
Roadside Assistance Cover Add-on benefit

 

Why ICICI Lombard Car Insurance?

It is mandatory to buy car insurance for all the cars that are plying on the Indian roads. Apart from third-party insurance and comprehensive car insurance, it offers a host of other features and benefits for its customers.

In case of an accident or mishap, it is difficult not only to commute, but there are other hassles to overcome including the repairs and coordination with the motor insurance company.

The company ensures fast claims settlement services and cashless settlement at network garages. The insurer also provides emergency assistance when an emergency strikes.

Types of Car Insurance

There are two types of car insurance policies that you can buy-

Third-party Car Insurance

If you own a vehicle then it is mandatory to buy third party liability cover as per the Motor Vehicles Act. It is issued in the interest of a third person in case of accidental injuries or death from a vehicle. It also covers third party property damages as well.

Comprehensive Car Insurance

It includes third party car insurance along with damages to your own vehicle. Compensation is provided for man-made calamities and natural calamities apart from accidental damages. There are various add-on covers that you can buy to enhance your insurance cover.

Key Features and Benefits of ICICI Lombard Car Insurance

  • Cashless repair at more than 3500 network workshops
  • Instant online purchase with minimal paperwork
  • Quick online car insurance renewal process
  • Get the zero depreciation cover benefit
  • Easy NCB transfer, if you haven’t made a claim
  • Doorstep surveyor facility
  • Emergency roadside assistance
  • Up to 5% discount for Automobile Association membership
  • Third party liability cover in case of comprehensive car insurance policy
  • Up to 2.5% discount on installation of an anti-theft device from Automobile Research Association of India

No Claim Bonus in ICICI Lombard Car Insurance

No Claim Bonus is accrued to your account for every claim free year. It will be applicable, as per the table below-

All types of vehicles Discount on own damage premium ( %)
One year of claim-free period 20
No claim made for 2 consecutive years 25
No claim made for 3 consecutive years 35
No claim made for 4 consecutive years 45
No claim made for 5 consecutive years 50


Sum Insured offered by ICICI Lombard Car Insurance

The sum insured of every vehicle is a fixed value and it is termed as IDV or Insured Declared Value. Sum assured is evaluated on the basis of a number of factors that are described below-

The Insured Declared Value of a four-wheeler is calculated on the basis of it’s the selling price listed by the manufacturer including the price of the accessories after it is adjusted for depreciation as per the criterion laid down by the Indian Motor Tariff.

The price of the electrical accessories shall also be added to the sum insured over and above the Insured Declare value after deducting the applicable depreciation.

If your car is fitted with a CNG or LPG kit, then it needs to be declared in the proposal. The kit needs to be insured separately by paying an extra premium of 4 percent on the value of such kits.

ICICI Lombard Car Insurance Premium Calculator

Get your car insurance quote online by providing the following details in the car insurance premium calculator

  1. Age of the vehicle
  2. Insured Declared Value
  3. Policy Term
  4. Type of the Car
  5. Loadings/Discounts

Inclusions of ICICI Lombard Car Insurance

  1. Third Party Car Insurance – It covers legal liabilities arising due to an accident resulting in permanent injuries or death of a third person. It also covers third-party property damages.
  2. Any Damage to the Car Due to Natural Calamities – It includes perils such as flood, storm, fire, self-ignition, earthquake, typhoon, lightning, explosion, hurricane, landslide, tempest, cyclone, inundation etc.
  3. Any Damage to the Car Due To Man-made Disasters – It compensates for theft, riots, burglary, terrorist activities, malicious acts, and any damage during transportation.
  4. Personal Accident Protection Cover – Coverage is provided to the individual driver of the car in if the accident taking place while travelling, or while getting in and out of the vehicle. There is also an option to buy personal accident protection for co-passengers.

Exclusions of ICICI Lombard Car Insurance

  • Consequential losses
  • Mechanical breakdown
  • Wear & Tear
  • Depreciation cover
  • Driving after intoxication
  • Any kind of deliberate attempt
  • Damage due to war conditions and nuclear weapons

Add-on covers available in ICICI Lombard Car Insurance

You can opt for a number of add-on covers in ICICI Lombard vehicle insurance policy to enhance your protection. These add-on covers are designed to safeguard you against various unforeseen circumstances-

  1. Roadside Assistance Cover – This cover provides you with breakdown services for a nominal rise in premium. It includes towing services to the nearest workshop, emptying of the fuel tank, emergency fuel supply, the arrangement of keys, the arrangement of accommodation, minor repairs, battery jump start among others.
  2. Personal Accident Protection Cover – Compensation is provided to the Owner/Driver and Passengers in case of physical injuries. It covers both minor and major accidents. However, PA cover for the driver/owner is compulsory.
  3. Zero Depreciation Cover – If your car is lesser than 3 years old, it is advisable that you opt for nil depreciation cover. With this add-on benefit, you can claim the full amount of the parts replaced in the initial 2 claims during a policy period.
  4. Engine Protection Cover – It compensates for damage caused to a car’s engine caused by leakage of lubricants and flooding.
  5. Return to Invoice Cover – In case your vehicle is declared as a total loss after an accident, it will ensure 100% compensation of the car value.
  6. Consumables Cover – Any loss or damage caused to the car consumables such as engine oil, screw, nut, and bolt, fuel filter etc. shall be reimbursed if you opt for this benefit.

How to Compare and Buy ICICI Lombard Car Insurance Online?

Comparing and buying car insurance online has many benefits. Some of them are listed below:

  1. Time-Saving – It saves your effort in running from pillar to post and meet an insurance agent. There is no need to step out of your house when you can buy vehicle insurance online.
  2. Convenient and Easy – With the convenience of your home, you can easily compare and buy the policy online. And pay online with just a click of the button.
  3. Discounts Applicable – You can check out various discounts that are applicable and choose the policy that meets your requirements.
  4. Better Service- The insurer has a team of experts to address to all your insurance related queries. Reminder over phone and email regarding policy expiry and renewal are also sent by the insurer.

Steps to Buy ICICI Lombard Car Insurance Online

Here’s what you need to do-

  1. Visit the website of ICICI Lombard Insurance
  2. Go to the motor insurance tab
  3. Click on buy now. It will direct you to a new page where you need to select ‘Buy New’- buy the policy for your new car
  4. Enter your email address and mobile number
  5. Agree to the terms and conditions
  6. Click on submit
  7. You will receive a car insurance quote
  8. To proceed, click on buy now option
  9. It will direct you to the payment page and you can make the payment online through debit card/credit card and net banking.
  10. ICICI Lombard car insurance policy will be emailed on your registered id. A hard copy will be sent to your address.

Steps to Buy ICICI Lombard Car Insurance Offline

However, if you want to buy the policy online-

  1. Visit their nearest branch office
  2. Submit the duly filled car insurance proposal form
  3. Submit all the required documents
  4. Make the payment via demand draft or cheque
  5. Once the inspection is done, you will receive your car insurance papers over email and in hard copy.

ICICI Lombard Car Insurance Renewal

You can renew your car insurance online, within 60 days of the expiry of your existing vehicle insurance policy. If your car insurance policy has already expired, your car will be surveyed by one of their representatives before issuing the policy. Remember, that the policy will be issued only after submitting your documents and a satisfactory inspection.

For car insurance renewal from another insurer click here

For existing ICICI Lombard car insurance renewal click here

Claim Process of ICICI Lombard Car Insurance

In case of an accident or breakdown call on their toll-free number i.e. 1800 2666 and be assured of full assistance from the insurer to get back on the road. The services that you can avail are defined below-

  • Cashless repair services at network workshops
  • Free towing and pick-up facility
  • Quality assurance on all repairs for 6 months ( subjected to t &c)
  • Reimbursement of expenses incurred on repairing the car in a non-network garage.

ICICI Lombard Car Insurance Claim Procedure In case of an accident

  • Take a note of the other vehicles that were involved in the accident
  • Take a note of the name and contact details of the eyewitnesses, if any
  • Call on their toll-free number 1800 2666 to file a claim and they will give you a claim reference number
  • You will also get a list of documents that are required along with network garages
  • In case of theft, bodily injuries or property damage a police FIR copy will be required

Once you register the claim-

  • Their representative will get in touch with you within 24-hours of the claim registration
  • All the documents will be verified with the original copies
  • A repair estimate will be given for the repairs and approval will be given after assessing the vehicle
  • The insurer will pay directly to the network on completion of the repairs
  • You will have to pay the remaining amount if nay ( as per the terms and conditions of ICICI Lombard car insurance policy)

Documents Required for ICICI Car Insurance Theft Claims

  • Claim Form (duly signed)
  • Copy of DL
  • Copy of vehicle RC with keys
  • Copy of ICICI Lombard car insurance policy
  • Original Estimate
  • Copy of police FIR
  • No-trace report from the police
  • Vehicle transfer papers from Reginal transport office (along with Form 28, 29, and 30). Form 35 is required in case of hypothecation.
  • In the case of triplicate Form 28 is required
  • In the case of duplicate Form 29 and 30 are required

Documents Required for Accidental Claims

  • Registration copy of the car
  • Claim Form
  • Driving License ( copy)
  • Police FIR ( if required)
  • Original Estimate
  • First two pages of the ICICI Lombard car insurance copy
  • Original payment receipt/repair invoice (depending on the situation )

Documents Required for ICICI Lombard Third Party Car Insurance Claims

  • Duly signed claim form
  • Copy of Police FIR
  • Copy of Driving License
  • Copy of car insurance paper (initial 2 pages)
  • Copy of RC

*In case of company registered vehicles, the stamp is required.

*Based on the nature of the claim, you may be required to submit additional documents.

FAQs for ICICI Lombard Car Insurance

Q1. How is car insurance premium calculated?

Car insurance premium is calculated on the basis of the following factors-

  1. IDV
  2. Policy Duration
  3. Vehicle Type
  4. Age of the vehicle
  5. Discounts/loadings

Q2. Can I renew my car insurance online?

Yes, the policy can be renewed online. But make sure that it is done within 60 days of the policy expiry date.

Q3. Which are the benefits of opting for Road Side Assistance?

ICICI Lombard car insurance includes the following services in their roadside assistance add-on cover:

  • Battery jump start
  • Breakdown assistance over the phone
  • Minor Repairs
  • Flat Tyre assistance
  • Key replacement cover
  • Towing assistance
  • Message Relay
  • An arrangement of a vehicle on rent
  • Arrangement/ Supply of fuel
  • An arrangement of emergency accommodation

Q4. Can I avail roadside assistance round the clock?

Yes, you can avail ICICI Lombard roadside assistance 24×7.

Q5. What is Reimbursement and Cashless Claim in a car insurance policy?

  1. Reimbursement Claim– If the car is repaired at any of the non-network garages, then you will have to pay off the bill. Then you can claim this amount for reimbursement by submitting the receipts and bills to the insurer.
  2. Cashless Claim– For cashless claim settlement, the repair work should be carried out at one of the network garages. In this case, the insurer will directly settle the bill with the insurer. You are only liable to pay the depreciation and deductibles that are applicable.

Q6. What are the benefits of buying zero depreciation policy?

Key benefits of a Zero depreciation car insurance policy are as follows-

  • Quite useful for cars that are lesser than 3 years old
  • Can be used for 2 permissible claims during the policy period
  • 100% compensation on depreciated parts
  • Also recompenses the repair cost of durable parts such as airbags, batteries, etc.

Q7. What documents are required for Third Party Claims with ICICI Lombard car insurance?

For third party insurance claims, following documents are required-

  • Police FIR copy
  • Claim form ( duly signed)
  • Copy of DL
  • Copy of RC
  • Copy of ICICI Lombard car insurance policy ( initial 2 pages)

Other Insurers

Articles