ICICI Lombard Car Insurance

A leading car insurance company in India, ICICI Lombard is a joint venture between ICICI Bank and Canada-based Fairfax Financial Holdings. From standalone, comprehensive to third-party car insurance, ICICI Lombard offers different types of car insurance plans. With ICICI Lombard, car insurance plans, you can protect your car against theft, damage, or any other mishaps.

Key Features of ICICI Lombard Car Insurance

Eligibility for Buying ICICI Lombard Car Insurance

To buy ICICI Lombard car insurance, your vehicle must be registered with the Regional Transport Office. Moreover, you must have valid documents related to your vehicle such as car registration papers, valid driving license, and other documents.

Benefits of Buying Car Insurance with ICICI Lombard

Some of the benefits of buying a car insurance plan with ICICI Lombard are as follows:

• With a good number of network garages, policyholders can get their cars repaired with the utmost convenience.
• ICICI Lombard has dedicated claim support. With ICICI Lombard, policyholders can enjoy 24*7 claim support.
• Policyholders can also include a number of add-ons in their ICICI Lombard car insurance plan to further enhance the plan benefits.
• ICICI Lombard also offers discounts to lower car insurance premiums. Some of the discounts offered are NCB, installation of anti-theft devices, etc.
• With ICICI Lombard car insurance, policyholders can get complete protection for their car against damages.

Types of ICICI Lombard Car Insurance

There are different types of car insurance that you can buy with ICICI Lombard such as Comprehensive car insurance, Third-party car insurance, and Standalone car insurance. Some of the differences between these three types of car insurance are as listed below:

Tips to Buy the Best Car Insurance Plan

To buy the best car insurance plan, there are certain things that you need to keep in mind such as the following:

• Check the Coverage: One of the most important things that you need to check while buying a car insurance is to understand the type of coverage you need for your car. For instance, if you need complete protection, you must buy a comprehensive car insurance plan.
• Driving Habits: You must also analyse your driving habits as this will be helpful in choosing the right car insurance plan for yourself. For instance, if you drive occasionally, you can choose to buy Pay As You Drive car insurance.
• Budget: Another important thing to keep in mind is your budget. You must buy a car insurance plan that best fits your budget.
• Available Discounts: There are times when car insurance companies offer discounts. So, before buying any type of car insurance plan with ICICI Lombard or any other insurance company, you must keep a check on the available discounts.
• Geographical Location: Based on the geographical location, the car insurance premium also varies. For instance, car insurance premiums will be comparatively higher in hilly terrains where the chances of accidents are higher.

Inclusions and Exclusions of ICICI Lombard Car Insurance

Before you buy any type of car insurance plan with ICICI Lombard, you must check the plan inclusions and exclusions:

Inclusions:

• Third-party liability
• Coverage against damage due to accidents, natural disaster, etc
• Coverage if insured car is lost your stolen
• Cashless repair at network garages

Exclusions:

• Wear and tear of car
• Mechanical breakdown
• If there is damage due to driver’s negligence

ICICI Lombard Car Insurance Add-ons

There are a number of add-ons that you can include in your car insurance plan such as the following:

• Roadside Assistance Cover: With roadside assistance cover, you can get assistance if your car breaks down. From taxi benefits to towing of a car, you can get multiple benefits with Roadside Assistance Cover.
• Zero Depreciation Cover: The value of a car depreciates every year. However, with Zero Depreciation Cover, you can get compensation for the depreciated amount when you raise your car insurance claim.
• Engine Protect Cover: If there is any damage to the engine, then Engine Protect Cover provides the necessary protection.
• Consumables Protect Cover: Consumables Protect Cover provides protection for consumables like nuts and bolts, engine oil, brake oil, and other such parts.
• Key Loss Cover: If the car keys get lost, then key loss cover provides the necessary protection.

What is IDV and How is it Calculated?

IDV or Insured Declare Value is the value at which you get your car insured. It is fixed by the insurer during the time of purchase and is the maximum amount received during a car insurance claim. IDV is calculated on the basis of depreciation value and other factors. IDV plays an important role in determining the car insurance premium as well.

Benefits of Buying ICICI Lombard Car Insurance Online

In today’s time, it is very convenient to buy car insurance plans online. Some of the benefits of buying ICICI Lombard car insurance online:

• No Paperwork Required: On buying the ICICI Lombard car insurance plan online, there is no paperwork required. You can simply submit documents related to car insurance online without any paperwork.
• Instant Quote: Once you enter all the details related to car insurance, you can instantly fetch details about car insurance quotes online.
• Get Expert Assistance: With ICICI Lombard, you can get dedicated customer support anytime and anywhere. So, while buying the ICICI Lombard car insurance plan, you can get 24*7 expert assistance with ICICI Lombard.
• Hassle-free Process: It just takes a few minutes when you buy an ICICI Lombard car insurance plan online.
• No Hidden Charges: You won’t have to pay any extra amount when you buy ICICI Lombard car insurance plans online. The entire process is transparent when you buy car insurance plans online.

How to Calculate Car Insurance Premium?

Listed below are the factors that determine car insurance premiums:

• Model Type: The model type of your car is an important factor in determining the car insurance premium. For example, a sedan car's premium will be higher than a hatchback car's.
• Fuel Type: Depending on the fuel type, the car insurance premium accordingly varies. As compared to other fuel types, car insurance premiums for CNG cars are higher.
• Car Manufacturing Year: An old car will have less IDV and more depreciation value. The car insurance premium of an old car is lower than a new one.
• Claim History: Claim history plays another important role in determining car insurance premiums. The more the number of car insurance claims, the higher will be the car insurance premium.
• Add-ons: By including different add-ons to your car insurance plan, the car insurance premium becomes higher.

How to Raise Car Insurance Claim?

Here is how you can raise a car insurance claim:

• First, contact ICICI Lombard to inform them about the accident. You can call on their toll-free number or even send a text message.
• Fill car insurance form and enter details like insurance policy number, vehicle chassis number, and others.
• Submit pictures of the damaged part of the insured car. Also, submit any necessary documents, if required.
• ICICI Lombard team will get the damaged vehicle surveyed and finally settle the claim request.

Why Should You Renew Car Insurance Online?

Some of the compelling reasons why you should renew your car insurance online are as follows:

• Get car insurance coverage for a continued period
• Enjoy a quick and hassle-free process when you renew your car insurance plan online
• Keep No Claim Bonus intact on renewing your car insurance