At a time when practically everyone owns a car, or at least a two wheeler, buying motor insurances have become extremely necessary. However, it is a pretty hectic job. You need to compare various policies and then choose whichever feels right for you.
ICICI Lombard Motor Insurance is one such policy you might want to look into.
ICICI Lombard Motor Insurance – An Overview
ICICI Lombard Motor Insurance is a very important insurance policy which showers you with a lot of benefits and features. A motor insurance is a comprehensive insurance policy for your two wheeler and your car.
ICICI Lombard Motor Insurance provides you with both a car insurance policy and a two wheeler insurance policy. The policy coverage and the exclusions to both the policies are quite similar.
Policy Coverage of the Motor Insurance Policy
The policy coverage of ICICI Lombard Motor Insurance extends over a pretty large area. This area is same for both the car insurance policy and two wheeler insurance policy of ICICI Lombard.
The various important aspects covered by this motor insurance policy of ICICI Lombard are explained as under:
- Third Party Liabilities: The ICICI Lombard Motor Insurance policy insures your motor vehicle from all third party liabilities. Both legally and financially. This means that in case your vehicle is involved in any accident which results in the death or injury of a third person or any other surrounding property, you will be insured and protected by ICICI Lombard Motor Insurance.
- Man-Made And Natural Causes: If your motor vehicle, two wheeler or four wheeler, gets damaged due to natural causes like earthquakes, fires, floods, etc., or due to man-made reasons like accidents, riots, thefts, burglary, strike, etc., it will be financially insured and protected by the motor insurance policy.
- Personal Accident Cover: This is a pretty much compulsory cover that you must purchase along with ICICI Lombard Motor Insurance. With this cover, you can insure the driver or yourself, if you are the driver. The maximum amount of cover received is Rs 2 lakhs. You can also avail this cover for co passengers if need be.
Benefits of Purchasing the Two Wheeler Insurance Policy
The two wheeler insurance policy falls under the motor insurance policy of ICICI Lombard. The major benefits of purchasing this policy are as follows:
- Online Policy: You can purchase this policy online and get the documents issued online instantly, without much hassle.
- Accidental Coverage: The two wheeler insurance policy under ICICI Lombard Motor Insurance also provides an accidental coverage for the co passengers. This coverage can be a maximum of up to Rs 2 lakhs.
- No Claim Bonus: NCB, or No Claim Bonus, is yet another benefit you receive from this policy. Under NCB, you receive a certain amount of money as bonus if you have not laid a single claim on the policy money during the entire policy period.
Key Features of the Car Insurance Policy
The car insurance policy under ICICI Lombard Motor Insurance has the following features and major benefits:
- You get roadside assistance from the policy in case of accidents, breakdowns and emergencies.
- You get towing assistance as well. If your car breaks down in the middle of the road or there is any other kind of emergency which calls for towing, this policy helps you.
- You can also avail Accidental Coverage and No Claim Bonus under the car insurance policy if ICICI Lombard. Quite like the two wheeler policy.
You may like to read: Best Car Insurance Companies in 2017 with best policies
Exclusions to the Motor Insurance Policy
Like all other insurance policies, ICICI Lombard Motor Insurance also has some exclusion. These exclusions apply to both the two wheeler and the car insurance policies. The exclusions to the policy are explained as under:
- All mechanical and electrical breakdowns of the vehicles are excluded from the coverage of ICICI Lombard Motor Insurance.
- Any loss incurred by the vehicle – two wheeler and car – due to the regular wear and tear and normal usage of the vehicle will also be excluded from the policy coverage.
- If your vehicle suffers any damage or loss while being driven by anyone who is under the influence of alcohol or addictive drugs, it will not be brought under the umbrella of ICICI Lombard Motor Insurance.
- If your vehicle suffers any kind of damage or loss while being driven by someone without a proper driving license, it will be excluded from the policy coverage.
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