How to Claim ICICI Lombard Bike Insurance and Bonus Claim 2023?

ICICI Lombard Bike Insurance is an Indian insurance company offering two-wheeler insurance policies. The policy provides coverage against financial losses incurred due to accidents, theft, natural disasters, and other specified perils. Policyholders can choose from third-party liability insurance or comprehensive insurance coverage, depending on their needs.

Advantages of ICICI Lombard two-wheeler insurance include 24/7 roadside assistance, cashless claim settlements at network garages, and easy online policy renewal. Policyholders can also opt for additional coverage by choosing from a range of riders, such as personal accident cover and pillion passenger cover.

With the help of an ICICI Lombard two-wheeler insurance policy, you can protect your vehicle against a variety of theft, natural catastrophe, and accident-related losses and damages. It handles third-party obligations in addition to affordably securing your bike or scooter.

• Cost-effective Plans.
• Claims without cash.
• Several add-ons.
• Unclaimed Bonus (NCB).
• Instant Claim Approval powered by insurance apps.
• Excellent Savings.
• Online Buying & Simple Renewal.
• 24-hour customer service.

Through its 4,000+ network garages, speedy claim settlement, and other useful solutions, ICICI Two-Wheeler Insurance from ICICI Lombard General Insurance Ltd. serves millions of Indians.

Features & Benefits of ICICI Lombard Bike Insurance

Here are some of the features and benefits of ICICI Lombard bike insurance:

Features:

1. Third-party liability coverage.
2. Comprehensive coverage options.
3. 24/7 Roadside Assistance.
4. Cashless claim settlement at network garages.
5. Personal accident cover for owner-driver.
6. Coverage for pillion passengers.
7. No-claim bonus protection.
8. Add-on coverage options (riders).

Benefits:

1. Protects against financial losses due to accidents, theft, natural disasters, etc.
2. Easy and hassle-free claim settlement process.
3. Convenient policy renewal options.
4. 24/7 roadside assistance for emergency services.
5. Wide network of garages for cashless claim settlements.
6. Coverage for personal accidents and pillion passengers.
7. Option to choose from various riders for enhanced coverage.

ICICI Two-wheeler Insurance Policies & Variants

ICICI Lombard offers two types of two-wheeler insurance policies:

1. Third-party Liability Insurance: This policy covers the policyholder against any legal liabilities that may arise due to accidents involving a third party.
2. Comprehensive Insurance: This policy offers comprehensive coverage for the policyholder’s two-wheeler and includes third-party liability coverage along with coverage for damages to the policyholder’s own vehicle.

Both the third-party liability insurance and comprehensive insurance policies have different variants, with different coverage options and premiums, based on the policyholder’s needs and budget. Policyholders can compare the different variants and choose the one that best suits their requirements.

It is important to understand the coverage options, inclusions, exclusions, and other terms and conditions of the policy before choosing and purchasing the right two-wheeler insurance policy.

ICICI Bike Insurance Add-Ons

ICICI Lombard offers several add-on covers, also known as riders, that policyholders can opt for to enhance the coverage of their bike insurance policy. Some of the popular add-on covers offered by ICICI Lombard are:

1. Personal Accident Cover for Owner-Driver: Covers accidental death or permanent total disability of the policyholder-driver.
2. Pillion Passenger Cover: Provides personal accident cover for the pillion passenger in case of accidental death or permanent total disability.
3. No-Claim Bonus Protection: Protects the policyholder’s No-Claim Bonus in case of a claim during the policy term.
4. Engine Protect Cover: Covers damage to the engine of the policyholder’s two-wheeler due to accidental oil leakage.
5. Consumables Cover: Covers the cost of consumables like nuts, bolts, washers, etc.
6. Invoice Cover: Provides coverage for the policyholder’s two-wheeler’s invoice value in case of theft or total loss.

It’s important to carefully evaluate the need for add-on covers and the additional premium charged for them before opting for them.

ICICI Lombard Two-wheeler Policy Major Exclusions

Here are some of the major exclusions of ICICI Lombard two-wheeler insurance policy:

1. Normal wear and tear, and gradual deterioration of the two-wheeler.
2. Loss or damage caused due to driving under the influence of drugs or alcohol.
3. Loss or damage caused due to war, nuclear perils, intentional acts, or riots.
4. Loss or damage caused due to mechanical or electrical breakdown.
5. Loss or damage caused to the two-wheeler when driven by a person without a valid driving license.
6. Loss or damage to the two-wheeler when used for purposes other than those specified in the policy.
7. Loss or damage to the two-wheeler when it is driven by a person who is not the owner or authorized driver.
8. Consequential loss or financial loss caused due to the loss or damage to the two-wheeler.
9. Depreciation and betterment charges.

It’s important to thoroughly understand the terms and conditions of the policy, including the exclusions, before purchasing the insurance coverage. Policyholders should always read and understand the policy document carefully before making a claim.

Discounts on the ICICI 2-wheeler Policy

ICICI Lombard offers several discounts on its two-wheeler insurance policies to attract and retain policyholders. Here are some of the discounts offered by ICICI Lombard:

1. No-Claim Bonus: Policyholders are eligible for a discount on their premium if they do not make a claim during the policy term.
2. Anti-Theft Device Discount: Policyholders who install an anti-theft device on their two-wheeler are eligible for a discount on their premium.
3. Voluntary Deductible Discount: Policyholders who opt for a higher voluntary deductible are eligible for a discount on their premium.
4. Long-Term Policy Discount: Policyholders who opt for a long-term policy (more than 1 year) are eligible for a discount on their premium.
5. Multiple Policies Discount: Policyholders who take multiple policies from ICICI Lombard are eligible for a discount on their premium.

It’s important to ask about the available discounts and how they can be availed while purchasing the policy, to get the maximum benefits. Policyholders should also regularly review their policies to make sure they are getting the best deal.

ICICI Lombard 2-wheeler Insurance Premium

The premium for ICICI Lombard two-wheeler insurance policies is determined based on several factors, including:

1. Make and model of the two-wheeler: The premium for high-end two-wheelers is usually higher compared to entry-level two-wheelers.
2. The engine capacity of the two-wheeler: The premium for two-wheelers with higher engine capacity is usually higher compared to those with lower engine capacity.
3. Age of the two-wheeler: The premium for a new two-wheeler is usually lower compared to an older two-wheeler.
4. Location: The premium for two-wheelers in metro cities is usually higher compared to those in non-metro cities.
5. Coverage options: The premium for comprehensive insurance is usually higher compared to third-party liability insurance.
6. Add-on covers: The premium is higher if the policyholder opts for add-on covers.
7. Voluntary deductible: The premium is lower if the policyholder opts for a higher voluntary deductible.

It’s important to compare the premiums of different insurance companies and different variants of the policy before purchasing the insurance coverage. Policyholders should also regularly review their policies to make sure they are getting the best deal.

Two-wheeler Insurance Renewal & Application – ICICI Lombard

ICICI Lombard two-wheeler insurance renewal and application can be done in the following ways:

1. Online: Policyholders can visit the ICICI Lombard website and renew their policy online. They can also apply for a new policy online.
2. Over the Phone: Policyholders can call the ICICI Lombard customer care number and renew their policy over the phone. They can also apply for a new policy over the phone.
3. Agent/Broker: Policyholders can approach an ICICI Lombard agent/broker and renew their policy or apply for a new policy.
4. Branch: Policyholders can visit an ICICI Lombard branch and renew their policy or apply for a new policy.

It’s important to renew the policy on time to avoid any break in coverage. Policyholders should also compare the premium of their existing policy with the premium of other policies available in the market to make sure they are getting the best deal.

ICICI Lombard Two-wheeler Insurance Policies FAQs

Here are some of the frequently asked questions about ICICI Lombard two-wheeler insurance policies:

1. What is the coverage offered by ICICI Lombard two-wheeler insurance policies? ICICI Lombard two-wheeler insurance policies offer coverage for accidental damage, theft, third-party liability, and personal accident cover.
2. What is the renewal process for ICICI Lombard two-wheeler insurance policies? The renewal process for ICICI Lombard two-wheeler insurance policies can be done online, over the phone, through an agent/broker, or at an ICICI Lombard branch.
3. What is the No-Claim Bonus in ICICI Lombard two-wheeler insurance policies? No-Claim Bonus is a discount offered on the premium for not making a claim during the policy term.
4. What is the role of a voluntary deductible in ICICI Lombard two-wheeler insurance policies? A voluntary deductible is an amount that the policyholder agrees to pay before the insurance company settles a claim. Opting for a higher voluntary deductible can lower the premium.
5. What is the claim process for ICICI Lombard two-wheeler insurance policies? The claim process for ICICI Lombard two-wheeler insurance policies involves reporting the claim to the insurance company, submitting the required documents, and following the company’s instructions to settle the claim.
6. What is the add-on covers available in ICICI Lombard two-wheeler insurance policies? The add-on covers available in ICICI Lombard two-wheeler insurance policies include roadside assistance, engine protector, consumables cover, and zero depreciation cover.

It’s important to read the policy document carefully and ask questions to understand the coverage, conditions, and exclusions of the policy before purchasing the insurance coverage. Policyholders should also regularly review their policies to make sure they are getting the best deal.

Also read What are Two-Wheeler insurance and its best Types in 2023?

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