|
|
ICICI Lombard Car Insurance
|
|
|
ICICI Lombard brings to you a comprehensive Package Policy for your four-wheelers, which covers Loss or damage to the vehicle insured, Personal Accident and Third Party Liability.
ICICI Lombard - Motor Insurance - Plans
ICICI Lombard Car Insurance - Policy Coverge
Our Motor insurance Policy is governed by the Indian Motor Tariff. It covers you for:
- Loss or damage to your vehicle: - The policy covers you against any loss or damage caused to the vehicle or its accessories due to the following natural and man made calamities.
- Natural Calamities - Fire, explosion, self-ignition or lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide, rockslide.
- Man made Calamities - Burglary, theft, riot, strike, malicious act, accident by external means, terrorist activity, any damage in transit by road, rail, inland waterway, lift, elevator or air.
- The rates of the vehicle and its parts are subject to depreciation as per the schedule provided by the Indian Motor Tariff.
- Personal accident cover: The motor insurance provides compulsory personal accident cover for individual owners of the vehicle while driving. You can also opt for a personal accident cover for passengers.
- Third party legal liability: This protects you against legal liability arising due to accidental damages
- Any permanent injury/ death of a person
- Any damage caused to the property.
Need for Policy
- The number of road accidents in India is estimated to be three times vis-a-vis developed countries. The number of accidents for 1000 vehicles in India is as high as 35 while the figure ranges from 4 to 10 in developed countries.
- Comprehensive Car Insurance serves as an add-on to the mandatory third-party cover and protects the car owner from financial losses, caused by damage or theft of the vehicle.
Sum Insured
The vehicles are insured at a fixed value called the Insured's Declared Value (IDV). IDV is calculated on the basis of the manufacturer's listed selling price of the vehicle (plus the listed price of any accessories) after deducting the depreciation for every year as per the schedule provided by the Indian Motor Tariff.
If the price of any electrical and / or electronic item installed in the vehicle is not included in the manufacturer's listed selling price, then the actual value (after depreciation) of this item can be added to the sum insured over and above the IDV.
Policy Exclusions
Under this policy, you are not covered against -
- Normal wear, tear and general aging of the vehicle
- Depreciation or any consequential loss
- Mechanical/ electrical breakdown
- Wear and tear of consumables like tyres and tubes
- Vehicle being used otherwise than in accordance with limitations as to use
- Damage to/ by a person driving the vehicle without a valid license
- Damage to/ by a person driving the vehicle under the influence of drugs or liquor
- Loss/ damage due to war, mutiny or nuclear risk
|
|
|
