Two Wheeler Insurance - Introduction Two- wheeler riding calls for a constant alertness from theft and accidents. Two-wheeler policy guarantees safety for your vehicle and yourself, thereby making your ride stress- free.
Policy Coverage A composite policy that protects you against an unfortunate accident, third party liability, injuries and damages.
Two-wheeler insurance policy is governed by the Indian Motor Tariff. It covers you for:
Loss or damage to your vehicle: The policy covers you against any loss or damage caused to the vehicle due to the following natural and man made calamities.
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: The motor insurance provides compulsory personal accident cover of Rs. 1 lakh for individual owner driver of the vehicle insured while travelling on, mounting or dismounting from the vehicle. You can also opt for a personal accident cover for passengers.
Third party legal liability: This protects you against legal liability arising due to accidental damages for - Any permanent injury/ death of a person - Any damage caused to the property
Package Policy for your Two Wheelers with Own Damage + Personal accident + Liability cover
You can avail of our cashless claim facility at our Cashless Garage Network all across India.
Avail of the following bonuses and discounts -
No Claim Bonus: If you do not make a claim during the policy period, a No Claim Bonus (NCB) is offered on renewals. This discount can go as high as 50%. (NCB will only be allowed provided the policy is renewed within 90 days of the expiry date of the previous policy.)
Transfer your NCB: You can transfer full benefits of No Claim Bonus when you shift your motor insurance policy from another company to ICICI Lombard.
The discount rate remains the same, provided you show evidence that you are entitled to No Claim Bonus from your previous motor insurance company. Evidence can be in form of:
Renewal notice or
Letter confirming the NCB entitlement from the previous insurer or
NCB declaration
Click here to view the wordings of the NCB declaration
Additional discounts: If you are a member of a recognized Automobile Association in India you can avail a discount of 5% on the OD Premium subject to a maximum of Rs. 50.
Discount for Anti-theft Devices: In case you have installed ARAI approved anti theft device in your vehicle, you get a discount of 2.5 % on the OD Premium to a maximum of Rs. 500.
Customise your insurance with additional covers: Electrical and/ or non-electrical items fitted to the vehicle can be insured separately. You need to specifically declare this in the proposal form.
The number of road accidents in India is estimated to be three times vis-a-vis developed countries. The number of accidents for 1000 vehicles in India is as high as 35 while the figure ranges from 4 to 10 in developed countries
Comprehensive Two Wheeler Insurance serves as an add-on to the mandatory third-party cover and protects the vehicle owner from financial losses, caused by damage or theft
Sum Insured The vehicles are insured at a fixed value called the Insured’s Declared Value (IDV). IDV is calculated on the basis of the manufacturer’s listed selling price of the vehicle (plus the listed price of any accessories) after deducting the depreciation for every year as per the schedule provided by the Indian Motor Tariff.
If the price of any electrical and / or electronic item installed in the vehicle is not included in the manufacturer’s listed selling price, then the actual value (after depreciation) of this item can be added to the sum insured over and above the IDV.
Why buy online Why buy online at www.icicilombard.com? We give you a few of many reasons why -
No Paperwork required to buy your policy online
Instant Policy Issuance - Digitally signed policy is available 24X7 online, you can take prints instantly. The hard copy of the policy is couriered to you within seven days.
Multiple Payment options - Credit Card, Debit Card, Net Banking or Cash Card.
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