Compare ICICI Lombard Two Wheeler Insurance Plans
ICICI Lombard Two Wheeler Insurance Company
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- 24×7 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.
Claims of Two Wheeler Insurance from ICICI Lombard
There are two primary reasons for buying two-wheeler insurance. Firstly, it provides you with the legal clearance of riding your bike on the road. Secondly, it ensures that there is no financial burden on you when it comes to any incidents on the road. You can claim your two wheeler insurance from ICIC Lombard if you have met with an accident or there is some damage to your bike owing to riots or strikes and so on. Your two wheeler insurance from ICICI Lombard will take care of most of the financial implication of an incident. The claim process is fairly simple and requires a few steps to be followed from your end.
Different Documents and Different Claims of Bike Insurance from ICICI Lombard
If you wish to claim your ICICI Lombard two wheeler insurance, there are two primary types of claim, cashless or reimbursement. The cashless claim is without any doubts, the more preferred mode as you do not have to pay for the repairs from your pockets. But it can get a bit tricky since you need to take your bike to specific garages within ICICI’s network. For cashless service, once the claim is approved, ICICI Lombard pays the approved amount directly to the network garage. If there are some additional payments or deductibles, the policy holder must clear them off.
The other claim mode is reimbursement of the claims. In this case, you can go to any garage and repair your bike and claim for the same. The process remains the same for the most part. The only difference here being that you must pay for the repairs up front, and ICIC Lombard will reimburse the approved amount to you later.
The list of documents for claims of accidents is:
- Claim form that is filled up.
- RC copy of the bike.
- A copy of the driving license.
- A copy of the policy.
- A copy of the FIR (for specific cases).
- Estimates of the repair.
- Final original copy of the invoice and payment.
The list of documents for claims of theft is:
- Claim form.
- RC copy along with original keys.
- A copy of driving license.
- A copy of the policy.
- A copy of the FIR.
- RTO transfer papers.
- NOC from the lender.
Bike Insurance Claim Process from ICICI Lombard
If your bike breaks down or meets with an accident, here is all that you would need to do.
- Reach out to the customer care of ICICI Lombard and inform them of your situation.
- If you have met with an accident, take a note of the other vehicle involved in the accident.
- If there were any witnesses to the accident, take a note of their names along with their contact information.
- When you call the customer care, they will provide you with a reference number or claim number.
- The representative will inform you regarding all the documents that you need to furnish to proceed with the claim and list the nearest garages where you can avail cashless service.
- If you have met with an accident or there are damages to third party or your bike is stolen or any injuries, you need to file an FIR with the nearest police station.
- You then need to take your bike to the garage that you have opted for.
- After you receive a call from ICICI Lombard, you need to produce all the relevant documents at the garage.
- The garage will estimate for all the damages and once you get the approval, ICICI will pay for the repair. If there is any balance amount or deductible, you would need to pay the same.
Should your bike break down in the middle of the road or meet with an accident, the reimbursement process would look like this.
- If you wish to claim your policy, inform ICICI Lombard of the incident at the earliest.
- Take a note of the vehicle number of the involved vehicle during an accident.
- If there are any witnesses to the accident, note down their names and contact information.
- After informing ICICI Lombard about the incident, they will provide you with a reference number of claim number.
- You will receive a call from ICICI within 24 hours of registering the claim.
- The customer service manager will list out all the relevant documents and you need to provide the same to him/her.
- ICICI Lombard will then initiate the claim process on your behalf.
- Once the claim is approved, the amount will directly be credited to the account details mentioned in the claims form.
This way, your two wheeler insurance from ICICI Lombard can keep you safe during difficult times.
Two Wheeler Insurance
A Two Wheeler Insurance policy for your two-wheeler that keeps it secure against damage caused by natural and man-made calamities, including acts of terrorism. Avail of Own Damage, Personal Accident and Liability cover all in one policy. You need your two wheeler to be insured and the best way to do this is to purchase Motor Insurance. If you are wondering how to get motor insurance and which one is right for you, we’re there to help you.
Key Benefits of Two Wheeler Insurance
- Enjoy additional benefits of riding safe
- Your No Claim Bonus (NCB) will be applicable for 1 or more claims as per the policy period
- Renewing your policy online is a breeze
- There will be no vehicular inspection conducted, even in the case of an expired policy
- Secure yourself and your co-passengers
- Get an inbuilt personal accident cover and keep your loved ones secure too with add-on co-passenger cover
- Choose extra security for your two-wheeler
- Opt for add-on cover to secure electrical and non-electrical accessories of your two-wheeler
- Get a hassle-free long term policy
- Get a single policy certificate that is valid for 3 years
- Ride with a protective shield
- Rely on our 2,150+ network garages across India for assistance in case of any glitches during your journey.
- Choose convenience over hassles of renewal
- The policy comes with tenure options of 1, 2 or 3 years. Opt for long term tenure and ride worry-free
*NCB (No Claims Bonus) will only be allowed provided the policy is renewed within 90 days of the expiry date of the previous policy. The NCB will be available, provided you show evidence that you are entitled to NCB from your previous motor insurance company. Evidence can be in the form of a written declaration or a renewal notice or a letter confirming the NCB entitlement from the previous insurer.
**Please refer to policy wordings for more details.
What does two wheeler insurance cover
Loss or Damage to your vehicle against Natural Calamities
Fire, explosion, self-ignition or lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide, rockslide.
Loss or Damage to your vehicle against Man-made Calamities
Burglary, theft, riot, strike, malicious act, accident by external means, terrorist activity, any damage in transit by road, rail, inland waterway, lift, elevator or air.
Personal Accident Cover
Coverage of up to Rs.1 Lakh for the individual owner/driver of the vehicle while driving or travelling, mounting or dismounting from the two wheeler. Optional personal accident covers for co-passengers available.
Third Party Legal Liability
Protection against legal liability due to accidental damages resulting in the permanent injury or death of a person, and damage caused to the surrounding property.
For more details, kindly refer to the Policy Wordings.
Top 5 Bike Insurance Companies in India
For most Indians, a two-wheeler is the easiest and the most economical vehicle to ride, due to the speedy transport that it provides and the ease of mobility it offers in the maddening and ever growing traffic, majority of which has been contributed by the growing number of cars on the road. Easy to ride it may be, but the fact is that it can be equally dangerous in case of an accident which can lead to financial loss or worst still, loss of life. Hence, it is very important for motorbike riders to have bike insurance. Several insurance companies offer two wheeler insurance, but it is vital to choose the best, which ensures safety to the rider. Insurance stands as an added benefit in case your vehicle is lost or damaged due to accidents. Some companies provide third party liability benefits along with the free services and discounts. These companies can help you repair your bike and its accessories free of cost if your motorbike is insured. In India, many insurance companies provide best motorbike insurance policies based upon your need and budget.
Below is the list of 5 best bike insurance companies in India, you can review them to select the best that meet your requirement
- ICICI Lombard
- HDFC Ergo Insurance
- Bajaj Allianz
- Reliance General Insurance
- TATA AIG Insurance
1. ICICI Lombard –
ICICI is one of the eminent companies offering insurance for motorbikes.
- It gives surety of providing repayment services against damages due to natural orman-made calamities, including personal accidents and terrorism attacks
- It also provides multiple mode of payment to pay premium amounts online.
- In ICICI two-wheeler insurance even third party gets the benefit on accidental damages or permanent injury or death.
- You can buy insurance policy online, bank provides benefits like immediate issuance of copy online, discounts for Automobile Association members,free servicing facility across 2900 garages in India etc.
- ICICI Lombard offers 24/7 call center team to solve the problems related to claims, in case of any queries you can call the customer care number and resolve your issue or you can know your claim number from the call center.
- It also offers doorstep assessor facility in case of break in insurance.
2. HDFC Ergo Insurance –
HDFC is the largest company in India, which offers insurance on motorbikes with premium benefits.
- It gives instant online policy where the users can claim as policyholders instantaneously by following the details.
- It also offers repayment on all accidental damages to the vehicle in addition to the insurance holders.
- You can get your vehicle repaired along with the accessories with the services provided by HDFC.
- You can also file a claim online with the purpose of availing the services given by the company with premium benefits.
- In case if you have any issues related to the policies or services provided by the company, you can make a call to the customer care numbers given on the website to resolve your matter or you can also drop your claim by logging into the customer’s voice box.
3. Bajaj Allianz –
Bajaj Allianz is one of the leading companies in India, which offers best insurance policy on all two-wheelers.
- It gives free services in the chosen garages along with the hassle free claim settlement.
- To resolve all the issues related to policies or service, Bajaj’s customer service team provides instant assistance to the customers together with SMS updates on motor claim condition.
- You can easily renew your policy online.
- It covers insurance on all accidents either natural calamities like floods, earthquakes, typhoons, cyclones etc. or manmade like terrorist activity, theft, riot etc.
- Company also provides third party liability benefits in case of property damage or accidental injury or even death of an individual.
4. TATA AIG Insurance –
It is one of the top insurance companies in India offering insurance for all two wheeler with many benefits.
- It provides free pick up of vehicle in case of accidents and give surety of six-month accident repair warranty.
- It also offers a direct option to claim online and aims to settle them within 7 days.
- It covers total loss or partial loss of motor vehicle in case of accidents together with third party property damage
- It also gives benefit on add on covers like return invoice, daily allowance, depreciation reimbursement, key replacement, no claim bonus protection etc. Also provides to pay for the loss of personal belongings inside a vehicle during the accident.
- TATA AIG Auto secure policyholder can take benefit of the warranty on accidental repairs.
- Company cares about the customer’s requirements and makes every effort to achieve customer satisfaction. You can easily the customer care number mentioned on the website to resolve your issues.
5. Reliance General Insurance –
Reliance General Insurance is one of the top most insurance companies in India, which offers best insurance policy on motor vehicles.
- Reliance General insurance offers fast and hassle free claim settlement via NEFT.
- Company values its customers so every year it provides “No claim bonus” together with installation of anti theft device, membership of recognized Automobile Association etc.
- It also gives you assistance in repairing any damage to the vehicle for man made or natural calamities and provides renewal tool options for easy access.
- With no documentation, it offers to repay the amount in case of thefts, accidents, riot, natural calamities, etc along with the third party liability cover.
- In addition, you can get repair or replacement services at free of cost across 2100 network garages in India with an allowance of Rs. 1500 on towing charges.
- In case of service and support related matters you can contact the customer care numbers or connect through email.
Conclusion: – The bike insurance policy gives you the assurance that you will have all the security and safety in case you met with an accident. So, it is very easy to get the best bike insurance with just a few necessary documents. The companies mentioned above offers you the best policies, having their own respective terms, conditions, and criteria.