Compare ICICI Lombard Two Wheeler Insurance Plans

ICICI Lombard Two Wheeler Insurance Company

ICICI Lombard Two Wheeler Insurance

Two wheelers come in handy as it helps you zigzag through our busy roads. Whether you commute to work every day or take your bike out for joyrides, give your two-wheelers the protection they deserve. ICICI Lombard Two Wheeler Insurance makes you feel secure with its fast track claim settlement and simple hassle free claim process.
The Motor Vehicle Act of 1988 has made it mandatory for all two wheelers to obtain third party insurance. Third Party Liability provides the following coverage:

Legal liability in case of permanent injury and/or death of a third party involving the insured vehicle
Legal liability in case of damage to third party property involving the insured vehicle
The penalty for driving a two wheeler without insurance will be a fine of up to Rs.2000 or imprisonment for up to 3 months or both.

Getting Insurance Has Never Been This Easy
Now you can get insurance for your vehicle or renew your insurance easily from the very comfort of your own home. ICICI provides you with the facility to get insurance online. After an inspection at your convenience is completed, you can pay the premium online and download your policy documents. To renew your expired or existing insurance policy, apply 60 days prior to the expiry of the policy. ICICI Lombard helps you get a quotation to renew your insurance in a few simple steps on their website.

Key Features of ICICI Lombard Two Wheeler Insurance Policy

Cashless claim service- In event of an accident you can avail cashless claim services for your insured two wheeler at over 2150 authorized network garages across India
Multiple tenure options- This policy comes with a tenure option of 1,2 or 3 years
Hassle free claims- 24x7 Toll-free number and mobile app facilities are provided by the company to make your claims
Online facility- Apply for a new insurance or renew your existing policy in a simple online process. You can also renew your expired or existing policy of other insurers with ICICI Lombard.
Towing services- Services like towing and trauma services can be availed through 24-hour customer care centre
Online approval- Minor claims of cashless service can be approved online for service through authorized garages
No Claim Bonus- No Claim Bonus will be applicable to 1 or more claims depending on the policy period

Coverage under the ICICI Lombard Two Wheeler Insurance

This policy will cover your claims in the following scenarios.

Loss or damage of vehicle by natural calamities like earthquake, typhoon, flood, hurricane, tempest, storm, inundation, hailstorm, cyclone, frost, rockslide, landslide.
Loss or damage to the vehicle by fire, explosion, self-ignition, lightning.
Burglary, theft, riot, strike, terrorism or other malicious acts causing damage or loss to the vehicle.
Damage or loss in transit by means of road, inland waterway, rail, lift, air or elevator.
Coverage up to 2 lakhs for a driver under personal accident cover. Personal accident cover for co-passengers can be added on for an extra premium.
Protection against legal liability in case of death or permanent injury of third party and damage to third party property.

Exclusions under the ICICI Lombard Two Wheeler Insurance

The insurer will not compensate for losses or damage in case of:

General ageing, wear and tear of the insured vehicle
Mechanical and/or electrical failure, breakdown
Loss or damage caused by war, mutiny or nuclear risks
Depreciation or any other consequential loss
Damage to or by person driving without valid license
Damage to or by person driving in an intoxicated state
Wearing away of consumables like tubes and tyres. If the vehicle is also damaged then 50% of the cost of replacement will be indemnified.

Sum Insured Offered By The Policy
The Insured Declared Value is calculated on the current market value or the seller’s listed price after deducting depreciation for each year as per schedule provided by Indian Motor Tariff. The price of electrical / non-electrical items installed in the vehicle but not included in seller’s listed price can be added to sum insured.

Here’s What You Should Do In Case Of An Accident Or Breakdown

If you happen to be in an accident, then follow these steps for getting back on the as quick as possible. You are in safe hands with ICICI Lombard Two Wheeler Insurance.

Note the number of the other vehicle if any, involved in the accident
Note the names and contact details of any witnesses present
Contact toll-free number 1800 2666 to get your claim number or reference number
The customer care representative will provide you with the details of documents required for processing your claim and also details of cashless network garages near you.
File a FIR at a police station near you if any property damage, bodily injury or theft takes place.

What Happens After Registering Your Claim

The Customer Service Manager (CSM) will contact you within 24 hours of registering the claim
Then you will have to submit all required documents to the dealer/ CSM and get it verified with the originals
The CSM will get a quotation for the repairs of the insured vehicle and give approval after assessment, usually immediately
Payments that are to be borne by the insurer will be directly made by the insurer to the garage on completion of service
In case of any balance amount that has to be paid by you as per policy terms and conditions will be informed to you by the CSM

Checklist of Documents Required
To ensure that your claim settlement process is simpler and faster know the documents you will be required to provide.
If you are making an accident claim you will need the following documents:

Claim form
RC copy of the insured vehicle
Driving license copy
Original estimate
First two pages of the policy copy
FIR on a case to case basis
Original payment receipt and repair invoice (for cashless garage, just repair invoice)
Stamp required in case of company registered vehicle, for claim form

If you are making a theft claim, then make sure to have these documents:

Claim form
Policy copy
RC copy of the insured vehicle
Original FIR copy
Driving license copy
Original estimate
RTO transfer papers signed along with Form 28, 29, 30 and form 35 (if hypothecated). Form 28 is required in triplicate, Form 29 and 30 in duplicate.
Final report – a No Trace report from the police which confirms that the vehicle cannot be located

Documents Required for Third Party Claims

Claim form
Police FIR copy
Driving license copy
Policy copy (first two pages)
RC copy of the insured vehicle

How the Premium is Calculated

As per the Indian Motor Tariff, the premium is calculated on the following factors.

Type of vehicle
Age of vehicle
Period of coverage
Discounts if any
Insured Declared Value which is the maximum amount payable by insurer in case of total loss

ICICI Bank has a strong brand equity, wide distribution network, insurance claims management and investment management which makes it a choice for insuring your vehicle. So insure your prized possession with ICICI Lombard Two Wheeler Insurance and drive without worrying about the security of your vehicle.