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Add-ons to Elevate Your ICICI Lombard Bike Insurance Plan

By Juhi Walia
27 October 2022, 4:28 PM

A motorbike is an essential mode of transport but owning a bike has its fair share of responsibilities. Motorists must have a valid driver's licence, PUC certificate, and bike insurance policy. 

Riding a motorbike can be an exhilarating and fun experience, but it is not without any risk of accidents. A bike insurance policy offers financial assistance for repairs in the case of damages caused to bikes in accidents; it also provides financial security in instances of theft and third-party liabilities. 

ICICI Lombard Insurance offers competitive motor insurance plans. It offers all-around financial protection. Along with covering damages in accidents, thefts, and riots, you get compensation for any damages caused to your two-wheeler in any natural disaster, like a flood or fire. ICICI Lombard bike insurance offers INR 15 lakh as personal accident cover for the registered vehicle driver. Its two-wheeler insurance also takes care of third-party liabilities. ICICI Lombard's two-wheeler insurance policy is a one-stop bike insurance solution for motorists.

With optimum features like instant claim approval, 24x7 customer support, a digital inspection of vehicles, and 4800+ network garages, ICICI Lombard is perhaps one of the best bike insurance companies in the Indian market. 

Bike Insurance Plans at ICICI Lombard Insurance 

ICICI Lombard Insurance offers three motor insurance policies to cater to different people and their insurance requirements. A third-party bike insurance policy is a mandatory requirement for motorists. This insurance covers only the costs of third-party liabilities in an accident, such as hospital bills if a person is injured or compensation for his death or damages caused to his property. 

ICICI Lombard offers an 'own damage' insurance policy for people who have third-party insurance. It covers damages caused to the owner's bike in an accident, by natural disasters, or in the case of loss of the vehicle due to theft. 

ICICI Lombard also offers comprehensive bike insurance. This insurance is an amalgamation of third-party insurance and its 'own damage' policy. It covers damages caused to a third party and also the damages caused to the insured's bike. Of course, you can opt for add-ons according to your requirements by paying an additional premium. 

ICICI Lombard Bike Insurance Add-on Covers

You can customize ICICI Lombard bike insurance policies and build on them by selecting add-ons that address your insurance requirements. You can choose your add-ons while purchasing the insurance or renewing the policy. Add-ons offer extra coverage over and beyond the standard insurance plans that provide better financial protection. To avail of the add-ons, you will have to pay extra over the base premium. Let us look at some of the ICICI Lombard bike insurance add-ons.

Roadside Assistance Cover

Suppose you're going on a long drive and you meet with an accident or your bike stops running in the countryside. There's no garage or workshop nearby and no other way to take your bike to the nearest garage without towing.

With a roadside assistance add-on, your bike insurance will assist without compromising your budget. Roadside assistance bike insurance add-on covers towing facilities, flat tyres, minor damages, supply of fuel, battery jump-start, accommodation, cab fares, etc.   

Zero Depreciation Cover

A motorbike's market value will depreciate over time. So, when you make an insurance claim, you never get the total amount, but the bike insurance company pays cover after deducting the appropriate depreciation value.

Zero depreciation bike insurance add on cover nullifies the depreciation effect on your bike, and you'll enjoy a higher insurance claim. Of course, this add-on comes at a cost above the base premium.

Garage Cash

This add-on assures that ICICI Lombard will pay a daily allowance to the insured for each day a vehicle will remain at a garage for repairs due to damage caused by accident. This add-on will offer daily remuneration for a maximum period of 14 days. 

Return to Invoice

If your bike is stolen or is subject to complete loss, with return to invoice bike insurance add-on, you can get the difference between the IDV of your bike and the on-road price of a new motorbike of the same make and model as your original bike.

It covers registration charges, taxes, and other additional charges levied on the cost of the bike that you'll have to pay to buy the new bike. 

No Claim Bonus Protect

You get a discount on the motor insurance premium if you do not make any bike insurance claims in a policy term. This discount accumulates over time, and you can get a maximum discount of 50%.

But if you make even a single claim, you lose the benefits. With NCB protect add-on, you can hold on to your discount even if you claim in a policy term. But this add-on is limited to only three claims.  

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1. What is add-on coverage?

In motor insurance, add-ons mean additional financial coverage above and beyond base insurance plans. 


2. Will I have to pay extra for the add-ons?

Add-ons are additional benefits you enjoy on top of your base insurance plans. To avail of them, you have to pay additional charges above the regular premium you pay for your base insurance policy. 

3. Can I choose add-ons during insurance renewal?

Add-ons are flexible additions to your bike insurance policy. You can opt for them or remove them from your insurance plan whenever you renew the policy.

4. What are the add-ons to the two-wheeler insurance policy that ICICI Lombard offers?

The add-ons to the two-wheeler insurance policy that ICICI Lombard bike insurance offers are garage cash, return to invoice, NCB protection, roadside assistance, and zero depreciation cover.

5. What is the zero-depreciation cover add-on offered by ICICI Lombard?

A bike's value depreciates over time. So, while settling claims, bike insurance companies deduct a depreciation value. With ICICI Lombard's zero-depreciation add-on, you can enjoy higher insurance settlements on your two-wheeler insurance, which counteracts the depreciation effect on the bike.

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