ICICI Lombard Bike Insurance

ICICI Lombard is one of the largest bike insurance companies in India. To meet the different needs of policyholders, ICICI Lombard offers three types of bike insurance plans: third-party bike insurance, standalone own-damage bike insurance, and comprehensive bike insurance. Moreover, the company also provides many benefits such as 24*7 claim assistance, an extensive number of network garages, and many more.

Key Features of ICICI Lombard Bike Insurance

Key Features	Specifications
Claim settlement ratio	87.84%
Network garages	6100
Founding year	2001
Personal accident cover	Up to Rs. 15 lakh
Claim assistance	24*7

Why Should You Buy Bike Insurance with ICICI Lombard

There are a number of reasons why you should buy bike insurance with ICICI Lombard. Listed below are the reasons for the same:

• Instant Policy Issuance: With ICICI Lombard, you will policy details instantly. All you have to do is enter a few details and the policy details will automatically be sent to you.
• Network Garages: There are over 6,100 network garages that have tie-ups with ICICI Lombard. With such an extensive number of network garages available, it becomes easier to locate a network garage nearby.
• Digital Inspection of Claims: You can raise bike insurance claims with ICICI Lombard in a digital manner. Once you request a bike insurance claim, you will also be able to opt for a digital inspection of the damaged bike.
• 24*7 Roadside Assistance: With ICICI Lombard, you will also be assured of 24*7 roadside assistance. So, in case your bike gets damaged mid-way while you are travelling, you can always seek assistance from the ICICI Lombard support team.
• Affordable Premium: ICICI Lombard has a starting premium of Rs. 640 and has other plans available at affordable rates. This means you can buy bike insurance with ICICI Lombard even on a low budget.

Steps to Calculate Bike Insurance Premium

There are a number of factors that affects the bike insurance premium such as the age of the bike, add-ons available, and more. Now, to calculate the bike insurance premium, here is what you need to do:

• Click on the bike insurance page of ICICI Lombard
• Next, enter details such as bike registration number, email id, mobile number, and others
• Then, you need to select the type of policy you plan to buy
• Once, you enter all the details, you will be able to view the bike insurance premium

Different Types of ICICI Lombard Bike Insurance

The three different types of bike insurance plan that you can buy with ICICI Lombard are as follows:

• Third-party Bike Insurance: As per the Motor Vehicles Act of 1988, third-party bike insurance is a must for all. With third-party bike insurance, you will get coverage if a third-party is injured or faces any consequential loss due to the insured bike. Riding a two-wheeler without third-party bike insurance is a punishable offence in India.
• Standalone Bike Insurance: Standalone Own-damage Bike Insurance on the other hand provides coverage if there is any damage to the insured bike. The premium of a Standalone Bike Insurance is however higher than a third-party bike insurance.
• Comprehensive Bike Insurance: Comprehensive Bike Insurance provides coverage for both third-party liabilities and standalone own damages. The premium of Comprehensive Bike insurance is higher than both third-party and standalone bike insurance.

List of Add-ons Available with ICICI Lombard Bike Insurance

Following is a list of add-ons that you can purchase with your base ICICI Lombard two-wheeler insurance policy:

• Roadside assistance cover
• No claim bonus cover
• Return to invoice cover
• Garage cash cover
• Zero depreciation cover

Factors Affecting Bike Insurance Premiums

There are a number of ways in which you can save on bike insurance premiums such as those listed below:

• You should avoid raising bike insurance claims when not required. This will help you save on the No Claim Bonus benefit which will eventually reduce the bike insurance premium.
• Driving history of an individual also impacts bike insurance significantly.
• The installation of safety devices reduces the risk of your bike getting stolen. Due to the lower risk with the installation of safety devices, the bike insurance premium gets lower.
• You can also compare the different bike insurance plans available to buy the best bike insurance plan.

Tips to Buy the Best Bike Insurance Plans

With so many bike insurance plans available, it often becomes difficult to pick the right insurance plan. To help you out, we have enumerated tips to buy bike insurance:

• You must first and foremost check the coverage offered under the bike insurance plan you are buying. Depending on your requirements, you must choose the right bike insurance plan for your bike.
• The next thing that you should check is the availability of network garages. The more the number of network garages, the more beneficial it is for you to get cashless claim settlement.
• You should also check the claim settlement ratio. Ideally, you should buy a bike insurance plan with a company that has a higher claim settlement ratio.
• Another thing, you should also check is the customer service offered by the bike insurance company. There are many companies that offer 24*7 service which means that all your queries will be instantly taken care of with such companies.
• Last but not least, you should also check the availability of add-ons. With add-ons, you can enhance the plan benefits, however, the premium in such cases will become higher.

Inclusions and Exclusions of ICICI Lombard Bike Insurance

Listed below are the inclusions and exclusions of the ICICI Lombard Bike Insurance plan:

Inclusions:

• Any loss or damage to the bike due to a natural disaster
• Personal accident cover
• Third-party liability cover
• Any damage to the insured bike due

Exclusions:

• Wear and tear of the insured bike
• Any depreciation loss
• Mechanical breakdown
• Electrical breakdown
• If there is any damage due to rider’s negligence where they are found involved in the consumption of alcohol or drugs

How to Buy ICICI Lombard Bike Insurance Policy?

Listed below are the steps in which you can easily buy bike insurance with ICICI Lombard:

• Visit the bike insurance page on the InsuranceDekho website.
• Then, enter details like your mobile number, name, bike registration number, and a few other details.
• Next, you will be taken to the quotes page where you can select a plan of your choice.
• Proceed with buying your desired plan and include all the necessary add-ons.
• Finally, make the premium payment of your ICICI Lombard bike insurance.
• Once the payment is approved, you will receive policy details on your registered email id.

Why Should You Buy Bike Insurance Online?

In today’s time, now everyone prefers buying bike insurance plan online. Here are the reasons why you should buy bike insurance online:

• No Paperwork Required: There is no paperwork required when you buy bike insurance with ICICI Lombard online. So, say no to paperwork and buy bike insurance easily with ICICI Lombard.
• Instant Policy: When you bike insurance online, you will get all the policy details instantly. Just enter all the details, make the payment, and receive a digital copy of your policy.
• Hassle-free Claim Process: With ICICI Lombard, you can raise bike insurance claims online in a quick and hassle-free manner. Moreover, when you raise bike insurance claims online, you will also get instant approvals.
• Easy Renewal Process: To renew bike insurance with ICICI Lombard, you must choose the online process. Through the online process, you will be able to renew the plan from the comfort of your home.

How to Renew Bike Insurance Policy?

To renew your bike insurance policy, listed below are the steps you need to follow:

• First, log in to the ICICI Lombard website.
• Enter details such as your current policy details, bike registration number, and other such details.
• Click on renew and include the necessary add-ons, depending on which the premium will vary.
• Make the payment for the bike insurance premium after which your bike insurance plan will get renewed.

How to Raise Bike Insurance Claim?

There are two ways in which you can get your bike insurance claim settled, either in a cashless manner or by getting it reimbursed. Here are the steps to raise cashless claims:

• You can either call on 1800 2666 or raise a claim request on ICICI Lombard Take Care App
• On the ICICI Lombard Take Care App, click on InstaSpect option and then complete the bike inspection process via the live video streaming
• Once the inspection is complete and all the documents have been submitted, the claims manager will approve the claim request
• Next, get your bike repaired at a network garage, and don’t worry about the bills, as your expenses will be directly settled at the network garage

Documents Required to File ICICI Lombard Bike Insurance Claim

Listed below are the documents required to file ICICI Lombard Bike Insurance:

• A copy of the bike insurance
• Copy of valid driving license
• Repair bills
• Copy of registration certificate
• FIR
• Duly-signed claim form

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