ICICI Lombard General Insurance Co. Ltd.Student mediclaim insurance
ICICI Lombard car insurance
ICICI Lombard General Insurance Company Limited is a joint venture between ICICI Bank Limited and Lombard Canada Ltd., a group company of Fairfax Financial Holdings Limited. It offers a fairly comprehensive car insurance policy termed ICICI Lombard car insurance policy. One can purchase it online and the process is quite simple.
The car insurance policy covers damage, loss to one's vehicle against Natural Calamities, tempest, inundation, cyclone, hailstorm, frost, landslide, rockslide, Fire, explosion, self-ignition or lightning, earthquake, flood, typhoon, hurricane, storm, man-made calamities, riot, theft, any damage in transit by road, rail, inland waterway, lift, elevator or air. It also covers damage caused due to burglary, strike, malicious act, accident by external means and terrorist activity etc. Third Party Legal Liability is also covered.
The policy offers a Personal Accident Cover with coverage of Rs 2 Lacs for the individual driver of the vehicle while travelling, mounting or dismounting from the car. Optional personal accident covers for co-passengers is available. It also offers Protection against legal liability due to accidental damages resulting in the permanent injury or death of a person, and damage caused to the surrounding property.
However it does not cover the following:
- Normal wear/tear and general ageing of the vehicle
- Depreciation of the vehicle
- Electrical breakdown & Mechanical breakdowns
- Damage happening to or by a person driving without a valid license, and/or under the influence of drugs or liquor
- Damage or Loss due to war
The Sum Insured is calculated as per the vehicle's IDV. The vehicles are insured at a fixed value generally called the Insured's Declared Value (IDV). The CNG/LPG kit needs to be insured separately. An additional premium is charged in case the vehicles are fitted with Petrol/ Diesel and CNG/ LPG, as permitted by the local RTO. The unique feature of the ICICI Lombard car insurance policy is that one can buy it online & avail the option of paying the premium in easy installments (EMI option) as per one's convenience. The tenure on this EMI option available is usually 3 or 6 months.
- Policy is issued online immediately and is also digitally signed
- Provides access to 2700+ network garages for cashless claim servicing as they have extensive garage tie-ups across India
- The network garage list is available online on the ICICI Lombard portal
- A digitally signed policy is issued online
- Offers Zero Depreciation Cover i.e. full claim coverage on the value of parts replaced
- In case of accidental damage offers Towing charges up to Rs 1,500
- Allows to transfer all No Claim Bonus (NCB) benefits if opting for portability or shifting of your existing policy from another insurer
- 5% discount for recognized Automobile Association's Membership
- Allows NCB on renewals if there are no claims made during the previous policy years
In case of claim, policy holder can avail cashless facility for the repair of vehicle in any of the cashless garage network or can claim reimbursement for the same if the vehicle is serviced in a garage outside the network. One has to simply call their toll-free number, register the claim and get the claim/reference number for future reference. Exhaustive information related to various claim types and documentation is available on the ICICI Lombard car insurance portal.
Policyholders can now directly register and track their claim online by using the "Lodge a Motor Claim" services provided by ICICI Lombard car insurance on their website. ICICI Lombard has been assigned the iAAA rating, indicating highest claims paying ability. The online policy purchase is an easy method and a valid legal document which you get in a matter of minutes post you buy it. It removes the worry to care for physical document and gives you the peace of mind.