A leading private sector general insurance company in India, ICICI Lombard is a joint venture between Fairfax Financial Holdings Limited and ICICI Bank Limited, India’s second largest bank in the private sector. Fairfax is a Canada based financial services company. They are well known for providing services like general insurance, reinsurance, investment management and insurance claims management.
The soaring popularity of ICICI Lombard is no secret. It is boasts of a huge Gross Written Premium (GWP) of Rs.83.07 billion (FY 2016). The customers of ICICI Lombard are all praises for its swift service, supportive staff and lucrative auto insurance schemes.
About ICICI Lombard Auto Insurance
Given the dilapidated condition of roads, rash driving and unruly traffic, accidents are a common sight. Owing to this, your vehicle is also vulnerable to threats like theft, vandalism and fire. To protect your vehicle from all the possible dangers, a comprehensive auto insurance policy is mandatory for every vehicle owner.
ICICI Lombard Auto Insurance policy an all-encompassing insurance scheme which covers all the possible damages/dangers to your car and two wheeler. With the advent of online banking, applying for vehicle insurance online has gained momentum and popularity. Customers can enjoy convenience and various lucrative benefits by applying for auto insurance online.
Features and Benefits of ICICI Lombard Auto Insurance
ICICI Lombard understands that your car is your most loved possession. To safeguard your car from unforeseen dangers and other risks it offers one of the best insurance coverage schemes in the market.
- Every car insured with ICICI Lombard Vehicle Insurance enjoys a mandatory cover against third party legal liability. This is in compliance with The Motor Vehicles Act, 1988. If a third party faces any damage or loss caused due to the insured car, he/she is compensated by the insurance company, for the same.
- An insured card is secured monetarily (as the insurance policy provides financial aid) against –
- theft/damage of the car
- medical expenses arising out of an accident
- physical disability or death caused due to an accident
- breakdown of the car
- This comprehensive insurance policy provides other value added services like towing assistance provided 24/7, cashless car repair and emergency roadside aid (at over 3500 plus network garages). In case of accidents, the policy can be extended to cover the passengers in the car.
- With Garage Cash Cover, a car owner gets daily allowance when his/her insured car is in the garage.
- The Zero Depreciation Cover enables an insured car to enjoy coverage on its replaced parts with zero depreciation deduction.
- The Personal Accident Cover provides an accident coverage of Rs.2 lakhs for the individual owner/driver of the vehicle. An optional Accidental Cover facility is available for co-passengers also.
Two Wheeler Insurance
With more number of vehicles hitting the streets everyday, the number of subsequent road accidents also increase. Two wheelers are immensely prone to road accidents. For this precise reason a two wheeler insurance policy is a must. ICICI Lombard offers a number of comprehensive two wheeler insurance policies which come with a host of benefits.
- A copy of your two wheeler insurance policy can be issued online, immediately.
- Enjoy cashless claim servicing for your two wheeler at any of the 1,700 network garages across India.
- Co-passengers have an option of availing the personal accident cover.
- This policy protects your two wheeler from ‘out-of-pocket’ repair costs, coverage to third parties if an accident/damage has been caused to them due to the ‘owner-rider’s fault.
- As per The Motor Vehicles Act, 1988, Third Party Liability Cover is mandatory.
- The Own Damage Cover protects you against cost of damage to your two wheeler.
- In case of death, disability or hospitalisation caused by an accident, a Personal Accident Cover provides compensation.
- The pillion rider gets a coverage of up to Rs.2 lakhs under the PA insurance.
- If your bike/scooter has undergone any repair due to damages caused by an accident, the cost is covered under the PA insurance.
Two-wheeler insurance cover is offered for the following events:
Due to man-made calamities like:
- Malicious act
- Terrorist activity Road, inland waterway, rail, lift, elevator or air transit
- Accident by external means
Choose an auto insurance policy from ICICI Lombard Auto Insurance and give your much loved vehicle the protection and care it deserves.
Other Products from ICICI
GST Update: GST of 18% is applicable on car insurance effective from the 1st of July, 2017
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