In the last few decades India has seen a plethora of cars of the streets. More and more people are buying cars and preferring it as a daily mode of commuting over public transport. This has led to more mismanaged traffic and crowded roads. Car accidents are common sight these days. With the increase of malicious and anti-social activities, your car is also vulnerable to theft, vandalism and other damages. To make sure that your car is protected from the all the possible threats, dangers, damages and unforeseen events, ICICI Lombard provides an all-encompassing car insurance policy.
ICICI Lombard Car Insurance policy covers your car against the following situations –
Provides coverage against damage or loss caused due to natural calamities as listed below -
- Flood, hurricane, typhoon, storm and cyclone
- Hailstorm and frost
This comprehensive car insurance policy also protects your car from loss or damage caused by man-made reasons, as listed below –
- Riots and strikes
- Accident by external means
- Damage caused in transit by road, rail, air, elevator, etc.
- Acts of terrorism and other malicious acts
- Damages caused by anti-social activities
Personal Accident Cover
This coverage is provided for the individual owner/driver of the insured car. A coverage amount of Rs 2 Lakhs is offered for the individual driver of the car. This coverage is valid if an accident is caused to the individual while driving, travelling, dismounting or mounting from the insured car. One also has the freedom to choose personal accident covers for co-passengers. This cover is available but it is optional.
Third Party Legal Liability Cover
This cover is mandatory for all cars to have as per the Indian law. This is a very crucial cover and offers protection against any legal liability which can be a result of any accidental damages caused to a third party by the insured car. By accidental damages we mean the permanent injury or death of a third person, or loss and damage caused to any third party property as a result of an accident happening by the insured car.
Just because a car owner has bought a car insurance policy, doesn’t mean that his car is covered against any and every type of damages and loss. There are loss/damage is caused to your car due to certain causes or situations, it isn’t covered by this car insurance policy. The policy exclusions have been listed below –
- Wear and tear of your car caused due to its usage and age.
- Breakdown of the car – if electrical or mechanical
- If the car is being used otherwise than in accordance with limitations as to use.
- The insured car’s depreciation and any other loss resulting out of that.
- Wear and tear of consumables. These include car parts like tubes and tyres of the car. But if the car is also damaged at the same time along with these tyres and tubes then insurance company’s liability will be limited to half i.e. 50% of the cost incurred in replacement of these parts.
- If the car is being driven by person without holding a valid license then any damage caused to his car is not covered. Similarly, if loss/damage is caused to anybody else’s car who doesn’t hold a valid license then that it not covered either.
- If damage is caused to or by an individual who had been driving the car under intoxication (i.e. influence of alcohol or drugs) at the time of the occurrence, then it is not covered.
- Loss/ damage caused to the car due to mutiny, war, and nuclear risk.