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ICICI Lombard Car Insurance Add on Covers
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A car is an important asset, and it should be protected with a reliable insurance cover. Third-party car insurance is mandatory by Indian traffic law, but it is no longer considered enough to compensate for the financial losses arising due to accidents. Though comprehensive car insurance covers your own car damage and third-party liabilities, adding add-ons further your coverage against various losses. You can buy the add-on covers on your ICICI Lombard car insurance policy. There are many ICICI Lombard car insurance add-on covers to opt from by paying a nominal premium. Let's get started with what is covered under various ICICI Lombard car insurance add-ons.
ICICI Lombard – 6 Important Add-on Covers for Your Car Insurance Policy
ICICI Lombard car insurance add-on covers are available as shown below -
- Zero Depreciation Cover
A car's value starts to depreciate once it departs the showroom. Over the years, the value comes down considerably. The insurance company would compensate you after deducting the depreciated amount during any insurance claim. However, with ICICI Lombard zero depreciation cover, you can protect your car against all kinds of damages without considering the depreciation value.
This ICICI Lombard car insurance add-on does away with the out-of-pocket expenses and provides you complete peace of mind as you know you will get compensation from the insurer even if depreciation is there. It is highly recommended for new and premium car owners since it helps to lessen the losses.
- Return to Invoice Cover
This add-on cover is helpful to recover financial casualties when your car sustains constructive total loss that is damaged beyond repair. With this additional cover, you are entitled to receive the original invoice value of your car in the case of CTL. Usually, you don't receive the road tax and registration fees that you have paid while acquiring the insurance policy. You only receive the insured declared value of the car. However, this ICICI Lombard car insurance add-on cover gives you the full invoice value of your car. It allows you to fill the difference between the insured declared value (IDV) and the actual value of your car.
- Personal Belongings Cover
Many people drive a car with expensive smartphones, tablets, laptops, jewellery, etc. An accident or calamity can damage these expensive items and gadgets beyond repair. In case of a theft, it’s a complete loss. Normally, such things are not covered under basic insurance policies. However, by opting for ICICI Lombard personal belongings cover by spending a nominal extra amount, you can give protection to your expensive belongings from damages or theft.
- Engine Protection Cover
The engine is unquestionably the heart of any car. Surprisingly, regular comprehensive car insurance schemes do not offer any protection for damages to the car engine. Thus, having an engine protection cover helps safeguard this essential part of your car from losses. This ICICI Lombard car insurance add-on cover is beneficial for those who own an expensive car with high engine repair expenses. It looks after the costs against damages to your car's engine parts, differential parts and gearbox parts. A basic car insurance policy doesn't normally cover these.
- Personal Accident Cover
Sometimes, accidents can bring disability, which deters a person from performing daily tasks. Treatment expenses and daily expenditures can be difficult to cover out of your pocket during such a case. A personal accident cover allows you to safeguard yourself financially against such conditions.
In case of a temporary or permanent disability caused by an accident, ICICI Lombard pays a lump sum to you or your nominee. As per the recent motor vehicle rules, all car owners in India must have a personal accident cover, which is available for a maximum of INR 15 lakh.
- Roadside Assistance
ICICI Lombard car insurance provides 24 X 7 emergency roadside assistance services like tyre change, refuelling, towing, arranging for a mechanic, etc, if any sudden breakdowns occur. This particular ICICI Lombard Car Insurance add-on cover can be very beneficial during emergencies when your car abruptly breaks down in the middle of a road, and you desperately need some professional assistance. This includes
- Mechanical and electrical breakdown
- Towing due to an accident
- Flat tyre
- Keys locked in
- Dead batteries
- Contamination/incorrect or running out of fuel
Add ons for your Car Insurance
ICICI Lombard Car Insurance Add on Cover FAQs
1. Is it possible to opt for a single add-on with the ICICI Lombard car insurance policy?
Yes, you can do so. Just choose the add-on you wish to have in your ICICI Lombard car insurance policy.
2. What is not included in the ICICI Lombard car insurance engine protector add-on cover?
ICICI Lombard engine protector add-on does not cover the retrieval of the insured car from the water-logged area.
3. Who should opt for an ICICI Lombard zero depreciation car insurance?
Those who have bought a new car, an expensive luxury car, or a sports car must opt for ICICI Lombard zero depreciation cover add-on. Also, insured who live in accident-prone zones are advised to enhance their basic car insurance policy with this add-on cover.
4. What factors are to be considered before buying ICICI Lombard car insurance add-on covers?
Before purchasing ICICI Lombard car insurance add-on covers, the following factors need to be considered:
- The age and the model variant of your car.
- Your area of residence.
5. Are there any terms and conditions for claiming and buying ICICI Lombard car insurance add-on covers?
Yes, there will be terms and conditions while buying and claiming different ICICI Lombard car insurance add-on covers. Some of these conditions are shown below-
- The car’s IDV should be less than INR 3 Lakhs.
- The carrying capacity of the car should not be more than 10, including the driver.
- Imported four-wheelers are not covered under these ICICI Lombard car insurance add-on covers.
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