ICICI Lombard Standalone Own Damage Car Insurance

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Standalone car insurance refers to the type of insurance policy that provides insurance coverage in cases of damage caused to the insured vehicle. Unlike third-party insurance, where the policy covers damages caused to only a third-party person or vehicle, a standalone car insurance policy covers the first party or the vehicle owner that owns the insurance policy. Standalone car insurance is also called "Own Damage" insurance. 

How does ICICI Lombard Standalone Car Insurance Work?

The presence of a standalone insurance policy will cover the entire cost of repairing your vehicle. This type of insurance policy is relatively inexpensive compared to a comprehensive car insurance policy. If your car has mandatory third-party insurance, only you can choose to invest in a standalone car insurance policy. By doing so, policyholders safeguard themselves from future financial burdens. Due to the laws and regulations prevalent in India, all potential ICICI Lombard standalone car insurance policy buyers need to have an active third-party insurance policy to buy or renew their standalone or OD car insurance.

ICICI Lombard Standalone Car Insurance vs. Third Party Car Insurance vs. Comprehensive Car Insurance

A standalone car insurance policy is meant to help you in the long run. It provides decent coverage for your vehicle. On the flip side, the ICICI Lombard standalone car insurance policy will cover only the damage to your car. As a result, if you are ever in an accident in which both vehicles sustain some damage, your insurance company will only cover your vehicle and not the third-party vehicle. ICICI Lombard standalone car insurance policyholders will then have to pay for the third-party car repair out of their pocket. 

The ICICI Lombard standalone car insurance policy guarantees the safety of your vehicle. A standalone car insurance policy can provide the benefits of a comprehensive car insurance policy, excluding the coverage for damage to a third party or person. A standalone car insurance policy also does not cover the death or injury of the third person involved in an accident. 

In the case of ICICI Lombard standalone car insurance, policyholders also get the benefit of selecting from several different add-ons to improve the policy coverage. This results in additional coverage choices compared to a third-party vehicle insurance policy. Although the ICICI Lombard standalone vehicle insurance policy is not mandatory, potential policy buyers must consider it to ensure the overall safety of their vehicle.

What All is Covered Under ICICI Lombard Standalone Car Insurance Policy?

Policy buyers are offered the following benefits when they choose to buy the ICICI Lombard standalone car insurance policy.

  • Protection against accidental damage: Policyholders will be offered total protection for their insured vehicle in the event of damage caused by accidents or unfortunate circumstances. The policy will also cover any other damages caused to the insured by accidents.
  • Loss incurred due to theft of the insured vehicle: A stolen or lost vehicle is any vehicle owner's worst nightmare come true. The ICICI Lombard standalone four-wheeler insurance policy provides coverage if your car gets stolen.

In addition, ICICI Lombard provides a no claim bonus on your most recent ICICI Lombard standalone car insurance policy.

  • Cashless claim facility: ICICI Lombard standalone vehicle insurance policyholders have the option of using ICICI Lombard partner garages for vehicle service and repairs. The company bears all the repair costs, and the policyholders need not shell out a single rupee for repairing their vehicle.
  • Digital Inspection on the IL take care app: The ICICI Lombard IL take care app is the insurer's one-stop solution for all your policy, document, and claim needs. You can view your policy details, buy new policies, and raise a claim, all through the IL take care app. If you raise a claim through the app, the company provides you with the facility of digitally inspecting your vehicle and processing your claim without the hassle of a lengthy and time-consuming claim process.

What All is not Included Under ICICI Lombard Standalone Car Insurance Policy?

Here are a few exceptions that are not covered under a standalone or own-damage car insurance policy.

  • Third-party liability: Damages incurred to third-party vehicles or people will not be covered under the standalone car insurance policy. The policyholder will be solely responsible for the third party's financial and legal obligations. The insurance company will not bear any liability except for the first-party. Third-party damage will only be covered under a third-party insurance policy or a comprehensive insurance policy.
  • Illegal driving of the vehicle: If the driver of the vehicle is driving under the influence of alcohol or intoxicating substances or driving without a valid or expired licence, the insurer will bear no responsibility for the insured vehicle.
  • If the vehicle is willfully or purposefully destroyed with the prior knowledge of the vehicle owner,
  • Using a private vehicle for any commercial purpose: The insurance company bears no responsibility for the car if used for commercial purposes.
  • Normal wear and tear which occurs due to the aging of the car.
  • Any mechanical or electrical breakdown.

ICICI Lombard Standalone Car Insurance Benefits

The ICICI Lombard standalone car insurance policy is a beneficial option for those who want maximum protection at affordable cost. ICICI Lombard comes with affordable premiums on a standalone vehicle insurance policy. Users also get the flexibility to choose number of add-ons of their choice. You are under no obligation to buy a standalone car insurance as it is not mandatory to buy this policy. 

ICICI Lombard Standalone Car Insurance FAQs

  • 1. Can you buy an ICICI Lombard standalone car insurance policy online?

    Yes, it is very easy to buy the ICICI Lombard standalone car insurance policy online. You can do so by visiting the ICICI Lombard website or by filling in the details on the IL take care app.

  • 2. Do I need to buy a compulsory standalone car insurance policy?

    No, a standalone car insurance policy is not compulsory or mandatory by law. However, a third-party insurance policy is mandatory.

  • 3. How to file an ICICI Lombard standalone car insurance policy claim?

    Policyholders need to have all their documents in order before filing a claim. It is possible to raise a claim online or offline. You can also call 1800 2666 (toll-free) or visit the ICICI Lombard website to file a claim.

  • 4. What are the risks covered under a standalone car insurance policy?

    A standalone car insurance policy offers numerous benefits, such as a comprehensive car insurance policy with the exclusion of third-party damage cover.

  • 5. If I have an existing third-party insurance policy with a different provider, can I buy the ICICI Lombard standalone car insurance policy?

    Yes, even if users have an existing insurance policy with a different company, they can still choose to buy the ICICI Lombard standalone car insurance policy for their vehicle.

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