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Advantages of Buying an ICICI Lombard Comprehensive Car Insurance Policy

By Juhi Walia
08 August 2022, 9:37 AM

ICICI Lombard comprehensive car insurance is an all-in-one car insurance policy that removes your financial obligations should an accident happen, damaging your vehicle or someone else's vehicle, person, or property. Although third-party and not comprehensive car insurance is mandatory as per Indian laws, sensible car owners prefer comprehensive policies because they cover third-party liabilities and your own vehicle damage.

ICICI Lombard car insurance protects you and your car from three types of damages. The first is damage due to natural calamities, while the second is damage due to human-made acts. And the third is damage caused to any third-party property, person, or vehicle. So, this comprehensive car insurance policy provides financial protection against these unforeseen events.

Top Benefits of ICICI Lombard Car Insurance Policy

As part of its plan to engage customers, ICICI Lombard offers incredible discounts and affordable prices for comprehensive car insurance. Here are the reasons why car owners prefer ICICI Lombard car insurance:

Affordable Prices

Comprehensive car insurance price depends on multiple factors, including the vehicle's insured declared value (IDV), make and model, fuel type, year of manufacture, location, claim history, no-claim bonus (NCB), add-ons, and government taxes. 

While ICICI Lombard's third-party car insurance policy prices start from INR 2,094, you will need to shell out a little extra to purchase a comprehensive car insurance policy. Check Paytm Insurance's official website for the latest rates before buying or renewing an ICICI Lombard comprehensive car insurance policy.

Excellent Coverage

ICICI Lombard's comprehensive car insurance policy covers almost all major unforeseen events a car may encounter. For instance, it offers financial protection against flash floods, lightning, earthquakes, fires, and storms. 

Moreover, you can claim coverage if your car gets stolen or damaged due to theft, collision, riot, terrorist activities, or other malicious human-made acts. The comprehensive policy also includes a third-party insurance cover covering damages caused to a third-party vehicle, person, or property.

Facility to Include Add-ons

An ICICI Lombard comprehensive car insurance policy makes you eligible to include several add-ons to increase your policy coverage. Here is a list of ICICI Lombard car insurance add-ons which car owners prefer adding to their existing policy:

Roadside Assistance

Roadside assistance car insurance add-on cover enables car owners to seek assistance from the insurer if their cars face a breakdown or accident on the road. This cover includes on-call support, towing the damaged car to a network garage, battery jumpstart, taxi benefits, and minor repairs.

Engine Protection

Engine protection car insurance add-on cover ensures you total compensation if your engine needs repair or replacement. This cover can be a lifesaver if you live in an area prone to flooding or own an expensive car.

Consumable Protection

A comprehensive car insurance policy does not pay for any damage to the consumables, such as nut and bolt, grease, washer, screw, clips, lubricant, AC gas, engine oil, distilled water, brake oil, fuel filter, etc. The consumable protection car insurance add on cover allows you to claim money for any damage caused to the consumables.

Zero Depreciation

As a rule, the older your car gets, the lesser its value. The zero depreciation car insurance add on cover ensures you get the difference between the car's actual value and the claim amount.

Garage Cash

This daily allowance cover provides money for arranging alternative transport, such as auto or cab, to get back home when your car is being repaired.

Loss of Personal Belongings

This cover compensates for any damage caused to your personal belongings, such as your laptop, clothes, smartphones, etc., due to an accident involving your insured car.

High No-claim Bonus

ICICI Lombard comprehensive car insurance plans allow a no-claim bonus (NCB) of up to 50%. NCB in car insurance provides the customer with higher savings, resulting in reduced premiums. So, if you don't file a claim in the first year, you will get credited with a 20% NCB on renewal. The NCB gradually increases every year until reaching the pinnacle at 50%. 

5,100+ Cashless Garages

ICICI Lombard has tied up with 5,100+ network garages to provide cashless repair facilities to its customers. The list of authorised garages and service stations is sent to each customer through email. An ICICI Lombard comprehensive car insurance policy entitles you to take your car to any of the company's network garages and get your car repaired without paying anything. However, you must check the inclusions and exclusions list to understand the policy coverage terms.

Simple Renewal Process

ICICI Lombard has a simple car insurance renewal process. You can log on to the official website of the insurer and enter a few details to renew your ICICI Lombard comprehensive car insurance policy. Here's how to proceed.

  • Go to 'renewals' once you log on to the website.
  • Click on 'car policy' on the drop-down.
  • Click on the policy number circle.
  • Enter your ICICI Lombard car insurance policy number.
  • Press the 'proceed' button.
  • A renewal quote will appear, showing coverage and premium details.
  • Pay the premium to renew your policy.

Conclusion

ICICI Lombard's feature-rich comprehensive car insurance policy is all you need to enhance your peace of mind while driving your car. Check Paytm Insurance to get information about the latest premium and compare policies before buying a comprehensive car insurance plan.

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FAQs

1. What is ICICI Lombard's comprehensive car insurance policy?

ICICI Lombard's comprehensive car insurance policy refers to an all-in-one car insurance plan offering financial protection against human-made and natural calamities and third-party liability cover.

2. Which factors affect the premium of the ICICI Lombard comprehensive car insurance policy?

The premium of the ICICI Lombard comprehensive car insurance policy depends on multiple factors, including the vehicle's make and model, IDV, year of manufacture, NCB, fuel type, location, claims history, add-ons, and government taxes.

3. What are the types of ICICI Lombard comprehensive car insurance policies?

You can purchase a one-year or long-term policy of three or five years. Moreover, ICICI Lombard also offers a bundled policy with a one-year own damage component and a long-term third-party component.

4. Does ICICI Lombard's comprehensive car insurance policy cover natural disasters?

Yes. ICICI Lombard's comprehensive car insurance policy covers any damage caused to an insured car by flooding, earthquake, landslide, and thunderstorm.

5. Does ICICI Lombard's comprehensive car insurance policy cover human-made disasters?

Yes. ICICI Lombard's comprehensive car insurance policy covers any damage caused to an insured car due to theft, riot, strike, terrorist activities, etc.

 

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