What are the benefits of buying two wheeler insurance online?
When you buy two wheeler insurance online, you get an instant policy in a contactless way, as there is no documentation or paperwork involved. Also, you get the advantage of choosing from multiple payment
options, e.g. Credit Card (Visa, Master Amex card), Net banking, Debit Card etc.
What is long term two wheeler insurance?
The Insurance Regulatory and Development Authority of India (IRDAI) has introduced a long term insurance policy for two wheelers. Thus, you don’t have to go for two wheeler insurance renewal online every
year. Instead, you can opt for a long term two wheeler insurance policy that is valid for three years. What’s more, by opting for long term insurance, you are immune to the revision of third party rates
every year, resulting in significant savings.
Is it mandatory to insure my two wheeler as per law?
Under the Motor Vehicles Act, third party two wheeler insurance is mandatory for every vehicle on the road. Third party liability covers:
- Legal liability due to injury and/or death of a third party due to an accident.
- Legal liability due to damage to surrounding property.
What is the penalty that I may incur if my two wheeler is uninsured?
As per Section 197 of the Motor Vehicles Act, 1988, if you are caught driving without insurance, you will be charged ₹2000 fine the first time and ₹4000 subsequently.
Can I renew my two wheeler insurance policy online?
Yes, you can renew your two wheeler insurance policy online, starting 60 days before the expiry of your existing policy and within 90 days from the date of expiry of your previous policy.
Which events are covered in ICICI Lombard two wheeler insurance policy?
The ICICI Lombard two wheeler insurance policy is a package vehicle insurance cover, which offers you coverage for:
- Any loss or damage to your vehicle.
- Third party liability.
- Any permanent injury or death to a person caused by your insured vehicle.
- Any damage caused to the property other than property belonging to the insured or held in trust or in custody or control of insured by your vehicle.
- A personal accident cover for the registered owner-driver of the two wheeler while he is driving.
In case of loss or damage to the vehicle or the accessories insured, we provide coverage if the accident occurs due to the following hazards:
- Fire, explosion, self-ignition or lightning.
- Burglary, housebreaking or theft.
- Riot and strike.
- Earthquake (fire and shock damage).
- Flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost.
- Accident by external means.
- Malicious act.
- Terrorist activity.
- Whilst in transit by road, rail, inland waterway, lift, elevator or air.
- Landslide and rockslide.
What is a personal accident insurance cover?
Personal accident insurance covers death or disability caused due to an unfortunate accident. The motor insurance policy essentially has a personal accident cover for the registered owner-driver, as per
tariff. For a person other than the registered owner and driver, the personal accident cover has to be purchased separately by paying an additional premium. The amount paid as compensation depends upon
the extent of cover opted for.
What are the types of events or losses not covered under this policy?
The following events or losses are not covered in this policy:
- Mechanical/electrical breakdown
- Deliberate accidental loss
- Wear and tear, ageing of two wheeler
- Intoxicated driving
- Consequential loss*
- Any contractual liability
- Depreciation
- Damage to/by a person driving any two wheeler without a valid license
*Consequential loss is an indirect loss, which is not directly resulting out of a loss event, but arising as a consequence of loss event. For example, Mr. Singh was on his way to the office for an
important meeting with a client. Unfortunately, his two wheeler met with a road accident resulting in damages to the two wheeler, and it consumed a lot of his time. Due to this, he could not attend the
meeting resulting in loss of approximately ₹15 lakh. Damages to the two wheeler due to the accident are covered, however, the loss of ₹15 lakh is consequential and hence not covered.
For details, please refer our two wheeler vehicle package
policy wordings.
What is third party liability cover and what is covered under it?
A two wheeler third party insurance covers losses to a third person who is not a party to the insurance contract. The motor third party insurance covers the following losses:
- Any permanent injury or death to a person caused by your two wheeler.
- Damage to property other than property belonging to the insured or held in trust or in the custody or control of the insured.
- Liability is covered for an unlimited amount in respect of death or injury. Any damage to third party property is covered up to ₹7.5 lakh in case of private car and ₹1 lakh in case of a two wheeler.
What is ARAI?
ARAI stands for Automotive Research Association of India. If you have installed an ARAI approved anti-theft device in your vehicle, whose installation is duly certified by the agency, you can get a
discount of 2.5% on the OD (Own Damage) premium, subject to a maximum of ₹500.
What are the factors affecting the two wheeler insurance premium amount?
The bike insurance premium payable for your two wheeler depends on the following factors:
- The cubic capacity of the engine
- Age of two wheeler
- Geographical zone
- Type of model
- IDV (Insured Declared Value)
What are the different modes of payment on icicilombard.com?
You can choose between 5 payment options to pay your two wheeler insurance premium online:
- Credit Card - Make secure premium payment with your VISA, Master and AMEX card.
- Net Banking - Transfer the premium amount online through ICICI Bank and 13 other selected banks.
- Debit Card - Just enter your Citibank, HDFC Bank, ICICI Bank or any of the other 7 approved bank’s Debit Card details to pay your bike insurance premium directly.
- Cash Card - Use your Done or ITZ Card to make the payment online.
- Cheque/Demand Draft: You can send a Cheque/Demand Draft by courier to our office address.
How do I register my claim?
Contact our toll-free helpline 1800 2666 to register your claim and get a claim number or reference number. You can also intimate your claim online using our Insure app.
Download our claim form by clicking here.
When should I report to the police?
Incidents such as ‘Third Party Property Damage’, ‘Bodily Injury to Self or Third Party’, Malicious damage, Partial or Total Theft’ should be reported to the nearest police station as early as possible,
under whose jurisdiction the incident has occurred.
Can I ask for some advance in case the repair charges are very high?
We offer cashless claim services where the repair charges are directly paid to the garage if your two wheeler is repaired in a garage falling within our network. However, if the two wheeler is repaired in
a garage not falling in our network, you have to pay the repairing charges to the garage, and we will reimburse the amount to you, as per our non-cashless claim services.
What is a cashless claim and a non-cashless or reimbursement claim?
Cashless claim - In cashless claim facility, insurer liability of the repair charges of the two wheeler are directly paid to the garage by us, provided the two wheeler is repaired in our garage network.
You can collect your two wheeler by paying only the remainder of the invoice amount.
Non-cashless or reimbursement claim - If the two wheeler is repaired in a garage outside the purview of our network, then you will be required to pay the invoice amount to the garage for collection of the
two wheeler. You can get your claim amount reimbursed by submitting an original invoice and payment receipts to our office.
Note: for both cashless and non-cashless settlement an initial inspection of two wheeler before repair initiation is required.
How can I make changes to the policy?
An endorsement is a written evidence of an agreed change in the policy. It is a document that incorporates changes in the terms of the policy. In order to make an endorsement, you can call our customer
support on 1800 2666.
An endorsement can be of two types, i.e. premium bearing and non-premium bearing.
What is a premium bearing endorsement?
A premium bearing endorsement is an endorsement for which additional premium is charged. Some of the examples are:
- Transfer of ownership
- Change of RTO location
What is a non-premium bearing endorsement?
A non-premium bearing endorsement is an endorsement for which you are not charged any additional premium. Some of the examples are:
- Rectification in contact details
- Rectification in engine or chassis number
- Addition of hypothecation