Welcome to our support center

How can we help you?

Two-Wheeler Insurance

What is the meaning of insurance?

Link
Insurance is a protection against the financial loss arising on the happening of an unexpected event. A person can avail this protection by paying a premium to an insurance company.

How do I register my claim in Two Wheeler policy?

Link

Contact our Toll-free Helpline 1800 2666 to register your claim and get a claim number/ reference number. You can also directly register your claim online*, with our Lodge A Motor Claim service. * Please note that, as of now only accidental damage claims can be processed through the 'Lodge A Motor Claim' interface

What is Long Term Two-wheeler Insurance (LTTW)?

Link
The Insurance Regulatory and Development Authority of India (IRDAI) has introduced a long-term insurance policy for two wheelers. This means that you don’t have to renew your policy every year. Instead, you can opt for an insurance policy that is valid for three years. What’s more, by opting for long term insurance, you are immune to the revision of Third Party Rates every year, resulting in significant savings.

Can I renew my motor policy online?

Link
Yes, you can renew your policy online, starting 60 days before the expiry of your existing policy. In case your vehicle insurance policy has already expired, our authorised surveyor will inspect the vehicle, before policy issuance. The policy would only be issued subject to a satisfactory inspection and submission of required documents.

What are the events covered in ICICI Lombard Motor Insurance policy?

Link

The ICICI Lombard Motor Insurance policy is a comprehensive vehicle insurance cover, which offers you:

• Any loss or damage to your vehicle
• Third Party Liability
• Any permanent injury / death to a person caused by your insured vehicle
• Any damage caused to the property other than property belonging to the insured or held in trust or in custody or control of insured by your vehicle
• A Personal Accident Cover for the owner-driver of the vehicle while he/she is driving

In case of loss or damage to the vehicle or the accessories insured, the Company covers the insured if the accident occurs due to the following hazards:

• Fire, explosion, self ignition or lightning
• Burglary, housebreaking or theft
• Riot and strike
• Earthquake (fire and shock damage)
• Flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost
• Accident by external means
• Malicious act
• Terrorist activity
• Whilst in transit by road, rail, inland-waterway, lift, elevator or air
• Landslide and rockslide

What is the period of General Insurance policies?

Link
Typically, General Insurance contracts are for a one-year period only

Which documents will I require to transfer my NCB?

Link

A No Claim Bonus can be availed, provided you show evidence that you are entitled to a No Claim Bonus from your previous insurance company. Evidence can be in the form of:

 

  • A renewal notice or
  • A letter confirming the NCB entitlement from the previous insurer or
  • A written declaration (please note that in case of a false declaration, the policy will be subject to cancellation)

In case of an accident, when should I report to the police in Two Wheeler policy?

Link
Incidents such as ’Third Party Property Damage’, ’Bodily Injury to Self or Third Party’ or ’Theft’ should be reported to the nearest police station as early as possible, under whose jurisdiction the incident has occurred

What if I fail to produce the required documents in Two Wheeler policy?

Link

There are some documents that are definitely needed, without which a claim will not be paid. We will try and assist you to find surrogate means to get the required proof

If I lodge a claim after the expiry of my policy date for an event that occurred during the policy period, will it still be valid in Two Wheeler policy?

Link

Yes, you will be eligible for the claim even after the expiry of the policy date. This is because the event took place during the policy period

What is the claim procedure adopted by the company for settlements in Two Wheeler policy?

Link

ICICI Lombard adopts the following process for settlement of claim:

For Cashless claim settlement -

• The Customer Relationship Manager (CRM) / Surveyor attends the claim within 24 hours of registering the claim
• Insured must fill the claim form, (click here to download it or collect it from the CRM/ Surveyor/ Dealer) and submit all the required documents to the CRM/ Surveyor/ Dealer
• Our CRM will get the estimate for the repairs of insured vehicle and give spot approval after assessment
• After the completion of repairs at our preferred garage, we will make the payment of our share of the loss directly to the garage. Any amount over and above the admissible amount will have to be directly paid by the Insured
• The amount of Depreciation as per the rate prescribed under the Indian Motor Tariff and Compulsory Deductions under the policy need to be borne by the Insured

For Non-cashless/ Reimbursement claim settlement -

• The Customer Relationship Manager (CRM) / Surveyor attends the claim within 24 hours of registering the claim
• Insured must fill the claim form (click here to download it or collect it from CRM/ Surveyor/ Dealer) and submit all the required documents to the CRM/ Surveyor/ Dealer
• The CRM/ Surveyor assess the loss, estimates the repair amount and then informs the Insured on the same day of assessment. The CRM/ Surveyor will also take photographs of the damaged vehicle
• Insured can then get the vehicle repaired at preferred workshop/ garage. The CRM later carries out a re-inspection of the vehicle. The Insured then pays the workshop/ garage as per the CRM/ Surveyor’s assessed estimation, who thereafter releases a ‘Proof of Release’ document. (The proof of release is an authenticated document signed by the insured to release his vehicle from the garage after it is checked and repaired)
• Insured needs to submit the original bill, proof of release and cash receipt (derived from the garage) to the CRM/ Surveyor
• The CRM/ Surveyor then submits all required documents to ICICI Lombard for settlement of the claim
• Upon acceptance of the claim, the company issues the cheque to the Insured within seven working days from the date of receipt of all documents
• The amount of Depreciation as per the rate prescribed under the Indian Motor Tariff and Compulsory Deductions under the policy need to be borne by the Insured

What is a No Claim Bonus (NCB)?

Link

NCB is a reward for not raising a claim. It is a discount on the premium of the Own Damage (OD) portion of your vehicle when you renew your policy, provided you have not made any claim during the last policy period of one year. The NCB can be accumulated up to a maximum limit of 50% on OD premium.

As for Long Term Two Wheeler Policy holders, the below would apply:

No Claim Bonus (NCB) Benefits for 3 Years

  • No Claim During Policy Tenure - 40% NCB
  • One Claim During Policy Tenure - 30% NCB
  • Two Claims During Policy Tenure - 20% NCB

Can I renew my Two Wheeler policy online?

Link
Yes, you can renew your policy online, starting 60 days before the expiry of your existing policy.

What is the penalty that I may have to incur in case my two-wheeler is uninsured?

Link
As per Section 197 of Motor Vehicle Act 1988, driving without insurance will lead to a fine of up to ₹1000 or imprisonment for up to 3 months or both

What are the benefits of buying Motor Insurance online?

Link
When you buy Motor Insurance online, you get an instant policy, as there is no documentation or paperwork involved. In addition, you have the advantage of choosing from multiple payment options e.g. Credit/Debit Card (Visa, MasterCard, and Amex), Net Banking, etc

What is meant by Constructive Total Loss in Two Wheeler policy?

Link

Constructive Total Loss refers to accidental loss/ damage to your vehicle where the aggregate cost of retrieval and/ or repairs amounts to be more than 75% of the Insured's Declared Value (IDV) on your policy.

What documents are required to file a claim in Two Wheeler policy?

Link

In case of accidental damages claim, you need to provide the following documents: • Claim Form duly signed • Valid RC copy of the vehicle • Valid driving license copy • Policy copy • FIR, if required (For Theft, Third Party Injury/ Damage; Highway accidents - Major only) • Original repair bill, proof of release and cash receipt • Any other document as required to investigate the Claim or Company's obligation to make payment for it

What is the process for obtaining only Third Party cover In Long Term Two Wheeler Policy?

Link

To issue only Third Party cover, our local underwriter needs to carry out a risk assessment which cannot be done online. Thus, we request the customer to visit us at the nearest branch

In Long Term Two Wheeler Policy Is there any discount available if I install an Anti-theft alarm and locking system?

Link
If your vehicle is fitted with anti-theft devices, which are approved by the Automobile Research Association of India (ARAI), a discount on Own Damage (OD) premium is allowed.

Will I get a Personal Accident cover if the vehicle is registered under someone else's name, but is driven by me and the premium is also paid by me In Long Term Two Wheeler Policy?

Link
The policy essentially contains a Personal Accident cover for the owner-driver, as per tariff. In case of un-named driver, the personal accident cover has to be purchased separately by paying an additional premium.

Why do I need to insure my vehicle?

Link

Your vehicle is probably one of the most expensive things you own. Insurance protects your vehicle and helps you cope with the financial loss caused by accidents, damage or theft. Another reason is that while driving, you are responsible for the safety of:
• Your passengers
• Your fellow drivers
• Other people's property
• Pedestrians
• Yourself
Insurance helps cover the costs of potential damages or injuries in case of an unforeseen accident or theft. In India it is mandatory to have at least a Third Party Motor Insurance before you drive on the roads.

What are the various types of vehicles that I can insure online?

Link
Currently only Private Car and Two-wheeler can be insured online.

How is the value of the vehicle (IDV - Insured Declare Value) determined?

Link

The IDV of the vehicle is to be fixed based on the manufacturer's listed selling price of the brand and model, as the vehicle proposed for insurance at the commencement of insurance /renewal and adjusted for depreciation. 

The IDV of the side car(s) and/ or accessories, if any, fitted to the vehicle, but not included in the manufacturer's listed selling price of the vehicle is also likewise to be fixed. The schedule of depreciation for arriving at IDV is as below:

Schedule Of Depreciation For Arriving At IDV

Age Of The Vehicle

% Of Depreciation Fixing IDV

Not exceeding 6 months

5%

Exceeding 6 months but not exceeding 1 year

15%

Exceeding 1 year but not exceeding 2 years

20%

Exceeding 2 years but not exceeding 3 years

30%

Exceeding 3 years but not exceeding 4 years

40%

Exceeding 4 years but not exceeding 5 years

50%

What is the meaning of deductibles? What is the deductible applicable to a Private Car and Two-wheeler?

Link
Deductible means the amount that you will bear in case of a claim. This amount is deducted from the claim amount. Car Insurance Policy carries a Compulsory Deductible of ₹1,000 (for vehicles not exceeding 1500 cc) or ₹2,000 (for vehicles exceeding 1500 cc). Two-wheeler Insurance policies carry a Compulsory Deductible of ₹100

What is Cashless Claim and Non-cashless/ Reimbursement claim in Two Wheeler policy?

Link

Cashless Claim: In cashless claim facility, the repair charges of the vehicle are directly paid to the garage by us, provided the vehicle is repaired in our garage network. Non-cashless/ Reimbursement: If the vehicle is repaired in a garage outside the purview of our network, then you will be liable to pay the repair charges of the garage. You can get your claim amount reimbursed by submitting the original bills and payment receipts to our office

When should I report to the police in Two Wheeler policy?

Link

Incidents such as ’Third Party Property Damage’, ’Bodily Injury To Self or Third Party’ or ’Theft’ should be reported to the nearest police station as early as possible, under whose jurisdiction the incident has occurred

What is ARAI in Two Wheeler policy?

Link

ARAI stands for Automotive Research Association of India. If you have installed an ARAI approved anti-theft device in your vehicle, whose installation is dully certified by the agency, you can get a discount of 2.5% on the OD (Own Damage) premium subject to maximum of ₹500

What are the factors affecting the premium amount in Two Wheeler policy?

Link

The premium payable for your vehicle depends on the below factors:
• Cubic capacity of the engine
• Age of vehicle
• Geographical Zone
• Type of Model
• Insured Declared Value (IDV)

In Long Term Two Wheeler Policy What are electrical and non-electrical accessories? How to calculate the value of accessories?

Link

Electrical accessories: Any electrical and/or electronic equipment that is not factory fitted with the vehicle can be covered under electrical accessories at an additional premium of 4% on the value of such fitting. Value of electrical accessories will be as declared by the insured. For example, a Music System that is installed in the car after purchase of the vehicle can be covered. Non-electrical accessories: Any Non-electrical/ Non-electronic equipment that is not factory fitted with the vehicle can be covered under non-electrical accessories at an additional premium of invoice value*. Value of non-electrical accessories should be the invoice value of the non-electrical accessories up to the maximum limit of ₹20,000. For example, Mag wheels and/ or leather seats that are installed in the car after purchase of the vehicle can be covered. * Own damage rate

In Long Term Two Wheeler Policy How is the value of the vehicle (IDV - Insured Declare Value) determined?

Link
The IDV of the vehicle is to be fixed based on the manufacturer's listed selling price of the brand and model, as the vehicle proposed for insurance at the commencement of insurance /renewal and adjusted for depreciation. The IDV of the side car(s) and/ or accessories, if any, fitted to the vehicle, but not included in the manufacturer's listed selling price of the vehicle is also likewise to be fixed. The schedule of depreciation for arriving at IDV is as below: Schedule Of Depreciation For Arriving At IDV Age Of The Vehicle % Of Depreciation Fixing IDV Not exceeding 6 months 5% Exceeding 6 months but not exceeding 1 year 15% Exceeding 1 year but not exceeding 2 years 20% Exceeding 2 years but not exceeding 3 years 30% Exceeding 3 years but not exceeding 4 years 40% Exceeding 4 years but not exceeding 5 years 50%