ICICI Lombard Car Insurance Policy: Coverage, Claim & Renewal

Updated: 29-08-2023 10:28:49 AM

A car insurance is mandatory for using a car in India, as per the Motor Vehicles Act, 1988. A car insurance policy covers the expenses of repair of the car in case of accidents, theft or loss of the car. An ICICI Lombard Car Insurance plan is one such policy that also protects car against third-party liabilities.

It provides comprehensive car insurance which is governed by the Indian Motor tariff. Availing this car insurance policy, individuals will be able to receive coverage and benefits for their vehicle.

What does ICICI Lombard Car Insurance Cover?

The inclusions of the ICICI Lombard Car Insurance are as follows:

1. Damage caused due to natural disaster: Damage caused due to natural disasters like fire, earthquake, flood, explosion, typhoon, storm, hurricane, cyclone, landslide, rockslide, frost etc.

2. Personal Accident Cover: With ICICI Lombard Car Insurance, the policyholder gets coverage of Rs. 15 lakhs for the driver of the vehicle while mounting or dismounting from the car or travelling. The ICICI Lombard car insurance also offers optional personal accident cover for co-travellers in the car.

3. Damage caused due to Man-made Calamities: Man-made calamities like theft, riot, strike, malicious act, burglary, terrorism, inland waterway, accident by any external means etc. are included.

4. Third Party Legal Liability: The ICICI Lombard Car Insurance also offers protection against legal liability due to accidental damages that result in any kind of permanent injury and damage caused to the third-party property.

Read More: What is Car Insurance, Coverage, Claim & Renewal

How to apply for ICICI Lombard Car Insurance Online?

To apply online for ICICI Lombard Car Insurance, individuals need to follow the below mentioned steps:

• Visit the official website of ICICI Lombard at https://www.icicilombard.com/motor-insurance/car-insurance
• Enter Mobile Number and Email address
• Enter first three letters of RTO City
• Enter Car Model
• Enter Purchased Year
• Choose your plan from the given options
• Customize the plan as per your need
• Click “Buy Now”
• A quote will be generated and you will be redirected to new page for payment

Eligibility Criteria

• A person can get the Car Insurance only when he/she has a valid driving license
• Entry Age for buying the Car Insurance is 21
• ICICI Bank account is must in order to buy ICICI Lombard Car Insurance

Claim Process

In order to apply for the claim with ICICI Lombard Car Insurance, the applicant must register the claim as soon as the accident takes place. For registration of the claim, the policyholder can SMS ‘CLAIM’ to 575758 to which he/she will get a call from customer representative within 30 mins.

Below mentioned are the steps to follow to intimate the claim for car insurance with ICICI Lombard General Insurance Company:

• The first thing the policyholder should do is to note down the vehicle number of another vehicle (in case of an accident) along with the contact details of the witnesses (if any).
• The policyholder can call the toll-free number and make the concerned executive aware of the accident. He/she will receive the claim number.
• The policyholder will be informed about the required documents and the nearest network garage during the call.
• The policyholder must file an FIR with police, if there is any case of property damage, injury to the third party, or theft.
• Within 24 hours, the customer service manager of ICICI Lombard Car Insurance will contact the policyholder.
• Submit original documents to the dealer or the customer service manager.
• The manager will then analyse the car and give an estimate of the damage caused along with the instant approval.
• Once the necessary repair work is done, payment will be made against the repairs directly to the network garage.
• As per the policy plan, the manager will let the policyholder know if there will be a requirement of an extra amount to be paid.

Documents Required for Claim Process

Depending on the nature of the accident, documents required vary. Here is the list of documents required:

(a) Accident

In the case of an accident, following are the documents required:

• Duly filled claim form signed by the policyholder
• RC copy of the car
• Copy of driving license of the policyholder
• First two pages from the copy of the policy
• FIR, if applicable
• Original Estimate Slip
• Payment receipt
• Original Repair Invoice
• If the vehicle is a company registered, a stamp is necessary

(b) Theft

In case of theft, following documents are required:

• A duly signed and filled claim form
• RC copy of the car
• Copy of driving license of the policyholder
• Copy of Car Insurance Policy
• A true copy of FIR
• RTO transfer papers with three copies of Form 28, two copies of Form 29, Form 30 and Form 35
• A report of no trace issued by the police which claims about not finding vehicle anywhere
• If the vehicle is a company registered, a stamp is necessary
• Remember, the claim must be made immediately after the accident

(c) Third-Party Claims

In the case of third-party claims, following documents are required:

• A duly signed and filled claim form
• RC copy of the vehicle
• Copy of driving license of the policyholder
• Copy of the policy
• A true copy of FIR

No Claim Bonus

The policyholder gets a no claim bonus for every claim free year. The policyholder will also be eligible to avail a discount on the premium at the time of renewal of the policy.

Exclusions under ICICI Lombard Car Insurance

Certain situations are not covered under the ICICI Lombard Car Insurance, they are:

• Accident occurred outside the geographical region of the policy (outside India)
• An accident took place due to intoxication
• Mechanical or Electrical breakdown is not included under the covers of ICICI Lombard Car Insurance
• Damage caused due to the nuclear risks as well as war-related risks
• Normal wear and tear caused due to the aging vehicle
• Damage due to depreciation or any consequential loss
• Damage caused by a person driving without a valid driving license
• Damage caused by the person driving under the influence of drugs or alcohol
• Damage when the vehicle is used beyond the limitations of use
• When the tyre and tube get damaged at the same time, the liability of the company will be to cover 50% of the total cost of replacement

Add-on Covers on ICICI Lombard Car Insurance Policies

Policyholders can avail add-on covers along with the car insurance. ICICI Lombard Car Insurance add-on covers offer best coverage and enhanced protection. Some of the ICICU Lombard add-on covers are:

• Engine Cover: Through this cover, policyholder can protect their engine damages caused due to floods or leakage of lubricants
• Zero Depreciation Cover: This cover allows availing full claim amount for the damaged or replaced parts of the vehicle. Under this cover, depreciation cost is cut and the policyholders receive the entire claim amount.
• Return to invoice cover: Under this cover, the owner gets 100% reimbursement of the car value if car is declared as a total loss after the accident.
• Consumable Cover: Car’s consumables and expenses are covered which arises out of any damage or loss to vehicle.

Insured Declared Value (IDV)

Insured Declared Value is the fixed sum assured amount which the insurer pays to policyholder in case of any total loss of the vehicle. IDV is paid according to the brand and model of the vehicle at the commencement of insurance renewal or adjustment for depreciation.

Time taken to settle the claim

Most of the time, the insurance policy offers cashless facility with the network garage which makes the settlement process done on the spot. In case of the non-network garage, the ICICI Lombard Car Insurance reimburses the claims within a maximum of 30 days after the approval of the claim.

ICICI Lombard Car Insurance Renewal

Renewal of ICICI Lombard Car insurance begins 60 days before the expiry of the existing policy. Once the policy expires, a surveyor will inspect the car before policy insurance. The policyholder can renew the insurance by visiting the official website of ICICI Lombard.

Step 1 – Click on ‘Renew Car Insurance’

Step 2 – Mention the required details and submit the form

Step 3 – Pay the premium online

ICICI Lombard Cashless Garages

ICICI Lombard Car insurance policyholders can avail cashless garage facility at more than 3400 network garages across the country.

Advantages of ICICI Lombard Car Insurance

The key benefits of buying car insurance by ICICI Lombard are:

• The insurance company offers roadside assistance of 24*7 along with the insurance plan.
• The company offers an immediate copy of the policy after it is issued.
• The insurance comes with zero depreciation cover.
• The company offers a facility of cashless claim settlement at more than 3300 network garages across the country.
• The insurance also offers a daily allowance until the policyholder’s car is in the garage.
• The company offers a No Claim Bonus for no claims being made during the policy period.
• The company also offers to tow away facility at the times of breakdown or accidents.
• The processes with ICICI Lombard are quick and hassle-free

Important Aspects

• Check Sum Insured for the car insurance
• Check the IDV of the car before buying the insurance

FAQs

Q1. What is Insured Declared Value (IDV)?

Insured Declared Value is the maximum Sum Insured that is fixed by the insurer that is offered at the time of theft or total loss of the vehicle.

Q2. How to file a claim?

Call on 1800 2666 and inform the insurer about the accident as early as possible.

Q3. Is the No Claim Bonus transferable or exchangeable?

Yes. In case you are an existing ICICI Lombard insurance, or you transfer from any other to ICICI Lombard car insurance, you can transfer your No Claim Bonus that has been accumulated from previous company to the new policy within three months.

Q4. What type of vehicles does ICICI Lombard insure?

ICICI Lombard offers insurance coverage to private cars as well as two-wheelers

Q5. Can ICICI Lombard Car Insurance Policy be purchased online?

Yes, one can purchase ICICI Lombard Car Insurance Policy online by making payment through Debit Card/Credit Card or Internet Banking.

Q6. How many times can a policyholder avail the roadside assistance?

 During the policy tenure, one can avail this add-on benefit of roadside assistance at most 4 times.