ICICI Lombard Motor Insurance is one of the leading Car insurance companies in India. The company is known to abide by all the norms of Indian motor tariff and thus it commands great faith and confidence among millions of car owners across India. ICICI Lombard Motor Insurance provides its clients coverage from:
- Personal accident
- Damage or loss to the car
- Legal liability
ICICI Lombard Motor Insurance has achieved a respectable position in the car insurance market of India through its proficiency and innovative plans. The most important feature of the company is its ability to provide the customers their claim settlements at unbelievable speed. The efficient professionals of the company save the customers from worries and tensions and complete all the formalities at a lightning pace.
Personal accident:
In case a person who owns a car and enjoys the insurance coverage from ICICI Lombard Motor Insurance meets an accident, he will get a compulsory coverage of Rs 2 lakhs. The personal accident insurance also covers passengers against any accident while traveling, boarding or alighting the car.
Damage or loss:
ICICI Lombard Motor Insurance offers the plan which covers a car against any natural calamity like explosion, self-ignition, lighting, earthquake, floods, fire, storm, hurricane, typhoon, frost, landslide or rockslide tempest, cyclone, inundation and hailstorm. The customers are also provided coverage against any man-made cause like terrorist attack, theft, burglary and malicious act. The company is also bound to compensate a customer if a car gets damaged during shipment by train, road, inland water-surface, air, elevator or lift.
Legal liability:
This plan covers against legal liability owing to permanent injury or death of the owner or driver of the car. It also covers the car against damage or loss because of any accident.
Insured's Declared Value
Insured's Declared Value is also known as IDV. The fixed value at which the vehicle is insured is called IDV. The value is calculated according to the listing selling price of the vehicle as provided by the manufacturer.
No Claim Bonus
No Claim Bonus is warded to those who do not make any claim during the period of the policy. At the time of renewal of the insurance policy, the customer can have a discount of 50 percent. But as a rule, they will have to make the renewal within 90 days from the expiry date of the prior policy.
