ICICI Lombard two-wheeler insurance

ICICI Lombard General Insurance Company Limited is an amalgamation between the ICICI Bank Limited and Fairfax Financial Holdings Limited. Lombard Canada Limited is one of the subsidiaries of Fairfax Financial Holdings Limited. The company provides a wide range of insurance products which are compliant with the international standard of service.

Critical features of ICICI Lombard two-wheeler insurance policy

• Availability of 1, 2, and 3 years of tenure.
• The policy certificate is valid for 3 years.
• The two-wheeler insurance policy has a network of over 2150 garages across India.
• Add-on covers to secure the electrical and non-electrical accessories.
• Inbuilt personal accident cover with an option of purchasing an add-on cover for the protection of co-passenger.
• No vehicle inspection is required.
• Immediate issuance of the policy document.
• Renewal reminder can be set to receive notifications.
• No Claim Bonus from any other insurance company can be transferred to ICICI Lombard.
• 5% discount for the members of any recognized automobile association.
• 2.5% discount on installing the ARAI approved anti-theft device in the two-wheeler.

Coverage provided under ICICI Lombard two-wheeler insurance policy

• Damage to the vehicle due to a natural disaster such as explosion, floods, lightning, landslides, earthquakes, cyclones, hurricanes.

• Damage to the vehicle due to human-made calamities such as theft, riots, strikes, terrorist attacks or any other malicious activities.
• Damage to two-wheeler during transit.
• Personal accident cover:
  It offers coverage of Rs.1 lakh for the personal accident of the owner of the motorcycle or any other driver who is injured or died while riding the vehicle. One may also buy the add-on covers to protect the pillion riders.
• Third-Party Liability:
  The policy covers the policyholder against any financial liabilities due to accidental damages or loss caused to a third-party or their properties

Exclusions
The following points are not covered under the two-wheeler insurance policy offered by ICICI Lombard:

• Wear and tear of the two-wheeler due to aging.
• Electrical and mechanical breakdown.
• The vehicle being used beyond restrictions.
• The damage was done to/by an individual riding the bike without having a valid driving license or under the influence of alcohol/drugs.
• Damage caused to the two-wheeler due to mutiny, war, or any nuclear risk.
• Damage incurred in the vehicle accessories as a result of the housebreaking, burglary, or theft (except the case where the vehicle is also stolen).

ICICI Lombard Two-Wheeler Insurance Claim Process

In the case of an accident, following are the steps to register the claim:

• Take note of the vehicle details involved in the crash.

• Write down the contact details of the witnesses.

• Contact the toll-free number of the insurer, mention the details of the accident, and get the claim registration number from the insurance claim executive.

• The claim executive will also provide the details of the documents that must be submitted to process the claims.

• File an FIR at the nearby police station in case of theft, massive damages, or bodily injury.

Settlement of ICICI Lombard Two-Wheeler Insurance Claims

• After registering the claim, the customer service manager (or CSM) will contact you within one day of making the request.
• Submit the required documents to the insurer and get them verified.
• After the assessment, the CSM will get an estimate of the repairs needed and will approve the same.
• In case of repairs done through the cashless garage, the insurer will settle the payment with the network garage.
• The CSM will ask for additional fees that you need to make.

Documents required for accident claims in ICICI Lombard

• Duly signed the claim form.
• Photocopy of the vehicle registration certificate.
• Copy of the driving license.
• Photocopy of the insurance policy.
• Police FIR (Based on the case)
• The original estimate of repairs
• Repair Invoice and payment receipt (repair invoice are required for a cashless garage)
• Company seal needed for the company's registered vehicle.

Documents required for theft claims

• Photocopy of the vehicle registration certificate.
• Photocopy of driving license.
• Copy of the insurance policy.
• Police FIR (Based on the case)
• The original estimate of repairs.
• Duly signed RTO transfer papers.
• Duly filled Form no. 28 (3 copies), 29 (2 copies), 30 (2 copies) and 35 (if hypothecated)
• No Trace Report from the police.
• Company seal for the company's registered vehicle.

 

FAQs

Q1. How to buy or renew the two-wheeler insurance online from ICICI Lombard?
One can easily buy the bike Insurance Policy online through the official website of the ICICI Lombard.  Fill in the essential details about the vehicle along with the contact details, calculate the insurance premium for the policy either on ICICI Lombard online portal or any third-party website such as mymoneykarma, and make the payment online through any payment modes available on the ICICI Lombard Insurance website. In the same way, one can also renew the existing bike insurance policy with ICICI Lombard two-wheeler insurance policy.