Two Wheeler Insurance FAQs

Typically, General Insurance contracts are for a one-year period only

The Insurance Regulatory and Development Authority of India (IRDAI) has introduced a long-term insurance policy for two wheelers.This means that you don’t have to renew your policy every year. Instead, you can opt for an insurance policy that is valid for three years. What’s more, by opting for long term insurance, you are immune to the revision of Third Party Rates every year, resulting in significant savings.

The Insurance Regulatory and Development Authority of India (IRDAI) has introduced a long-term insurance policy for two wheelers.This means that you don’t have to renew your policy every year. Instead, you can opt for an insurance policy that is valid for three years. What’s more, by opting for long term insurance, you are immune to the revision of Third Party Rates every year, resulting in significant savings.

NCB is a reward for not raising a claim. It is a discount on the premium of the Own Damage (OD) portion of your vehicle when you renew your policy, provided you have not made any claim during the last policy period of one year. The NCB can be accumulated up to a maximum limit of 50% on OD premium.

As for Long Term Two Wheeler Policy holders, the below would apply:

No Claim Bonus (NCB) Benefits for 3 Years

• No Claim During Policy Tenure - 40% NCB
• One Claim During Policy Tenure - 30% NCB
• Two Claims During Policy Tenure - 20% NCB

Yes, you can renew your policy online, starting 60 days before the expiry of your existing policy.

Cashless Claim: In cashless claim facility, the repair charges of the vehicle are directly paid to the garage by us, provided the vehicle is repaired in our garage network. Non-cashless/ Reimbursement: If the vehicle is repaired in a garage outside the purview of our network, then you will be liable to pay the repair charges of the garage. You can get your claim amount reimbursed by submitting the original bills and payment receipts to our office

Under the Motor Vehicle Act, third party insurance is mandatory for every vehicle on the road. Third Party Liability covers: Legal liability due to permanent injury and/or death of a third party Legal liability due to damage to a third party’s property

The NCB will be transferred to ICICI Lombard motor policy at the same rate that you are entitled to get from the previous insurance company on renewal of your policy. The NCB will be available, provided you show evidence that you are entitled to NCB from your previous insurance company. Evidence can be in form of: A renewal notice or A letter confirming the NCB entitlement from the previous insurer or A written declaration (please note that in case of a false declaration, the policy will be subject to cancellation)

Yes, you can renew your policy online, starting 60 days before the expiry of your existing policy. In case your vehicle insurance policy has already expired, our authorised surveyor will inspect the vehicle, before policy issuance. The policy would only be issued subject to a satisfactory inspection and submission of required documents.

Your vehicle is probably one of the most expensive things you own. Insurance protects your vehicle and helps you cope with the financial loss caused by accidents, damage or theft. Another reason is that while driving, you are responsible for the safety of:
• Your passengers
• Your fellow drivers
• Other people's property
• Pedestrians
• Yourself
Insurance helps cover the costs of potential damages or injuries in case of an unforeseen accident or theft. In India it is mandatory to have at least a Third Party Motor Insurance before you drive on the roads.

Currently only Private Car and Two-wheeler can be insured online.

In case of accidental damages claim, you need to provide the following documents:
• Claim Form duly signed
• Valid RC copy of the vehicle
• Valid driving license copy
• Policy copy
• FIR, if required (For Theft, Third Party Injury/ Damage; Highway accidents - Major only)
• Original repair bill, proof of release and cash receipt
• Any other document as required to investigate the Claim or Company's obligation to make payment for it

Contact our Toll-free Helpline 1800 2666 to register your claim and get a claim number/ reference number. You can also directly register your claim online*, with our Lodge A Motor Claim service. * Please note that, as of now only accidental damage claims can be processed through the 'Lodge A Motor Claim' interface

Insurance is a protection against the financial loss arising on the happening of an unexpected event. A person can avail this protection by paying a premium to an insurance company.

The IDV of the vehicle is to be fixed based on the manufacturer's listed selling price of the brand and model, as the vehicle proposed for insurance at the commencement of insurance /renewal and adjusted for depreciation. 

The IDV of the side car(s) and/ or accessories, if any, fitted to the vehicle, but not included in the manufacturer's listed selling price of the vehicle is also likewise to be fixed. The schedule of depreciation for arriving at IDV is as below:

If your vehicle is fitted with anti-theft devices, which are approved by the Automobile Research Association of India (ARAI), a discount on Own Damage (OD) premium is allowed.

The following events or losses are not covered in this policy:

• Mechanical/ Electrical breakdown
• Wear and tear, ageing of vehicle
• Consequential loss*
• Depreciation
• Deliberate accidental loss
• Intoxicated driving
• Any contractual liability
• Damage to/ by a person driving any vehicles or cars without a valid license

* Consequential loss is an indirect loss, which is not directly resulting out of a loss event, but arising as a consequence of loss event. For example, Mr. Singh was on his way to office for an important meeting with client. Unfortunately, his vehicle met with a road accident resulting in damages to vehicle and it consumed lot of his time. Due to this, he could not attend the meeting resulting in loss of approx ₹15 lakh. Damages to vehicle due to the accident are covered however, but the loss of ₹15 lakh is consequential and hence not covered.

For details, kindly refer to the Two-wheeler Policy Wordings.

To find the list of cashless garages, please click here.

Incidents such as ’Third Party Property Damage’, ’Bodily Injury to Self or Third Party’ or ’Theft’ should be reported to the nearest police station as early as possible, under whose jurisdiction the incident has occurred

There are some documents that are definitely needed, without which a claim will not be paid. We will try and assist you to find surrogate means to get the required proof

Yes, you will be eligible for the claim even after the expiry of the policy date. This is because the event took place during the policy period

Constructive Total Loss refers to accidental loss/ damage to your vehicle where the aggregate cost of retrieval and/ or repairs amounts to be more than 75% of the Insured's Declared Value (IDV) on your policy.

Deductible means the amount that you will bear in case of a claim. This amount is deducted from the claim amount. Car Insurance Policy carries a Compulsory Deductible of ₹1,000 (for vehicles not exceeding 1500 cc) or ₹2,000 (for vehicles exceeding 1500 cc). Two-wheeler Insurance policies carry a Compulsory Deductible of ₹100

ICICI Lombard adopts the following process for settlement of claim:

For Cashless claim settlement -

• The Customer Relationship Manager (CRM) / Surveyor attends the claim within 24 hours of registering the claim
• Insured must fill the claim form, (click here to download it or collect it from the CRM/ Surveyor/ Dealer) and submit all the required documents to the CRM/ Surveyor/ Dealer
• Our CRM will get the estimate for the repairs of insured vehicle and give spot approval after assessment
• After the completion of repairs at our preferred garage, we will make the payment of our share of the loss directly to the garage. Any amount over and above the admissible amount will have to be directly paid by the Insured
• The amount of Depreciation as per the rate prescribed under the Indian Motor Tariff and Compulsory Deductions under the policy need to be borne by the Insured

For Non-cashless/ Reimbursement claim settlement -

• The Customer Relationship Manager (CRM) / Surveyor attends the claim within 24 hours of registering the claim
• Insured must fill the claim form (click here to download it or collect it from CRM/ Surveyor/ Dealer) and submit all the required documents to the CRM/ Surveyor/ Dealer
• The CRM/ Surveyor assess the loss, estimates the repair amount and then informs the Insured on the same day of assessment. The CRM/ Surveyor will also take photographs of the damaged vehicle
• Insured can then get the vehicle repaired at preferred workshop/ garage. The CRM later carries out a re-inspection of the vehicle. The Insured then pays the workshop/ garage as per the CRM/ Surveyor’s assessed estimation, who thereafter releases a ‘Proof of Release’ document. (The proof of release is an authenticated document signed by the insured to release his vehicle from the garage after it is checked and repaired)
• Insured needs to submit the original bill, proof of release and cash receipt (derived from the garage) to the CRM/ Surveyor
• The CRM/ Surveyor then submits all required documents to ICICI Lombard for settlement of the claim
• Upon acceptance of the claim, the company issues the cheque to the Insured within seven working days from the date of receipt of all documents
• The amount of Depreciation as per the rate prescribed under the Indian Motor Tariff and Compulsory Deductions under the policy need to be borne by the Insured

Incidents such as ’Third Party Property Damage’, ’Bodily Injury To Self or Third Party’ or ’Theft’ should be reported to the nearest police station as early as possible, under whose jurisdiction the incident has occurred

You can choose between 6 payment options to pay your premium online:

• Credit Card – Make secure premium payment with your VISA, MasterCard and AMEX Card

• Net Banking - Transfer the premium amount online through ICICI Bank and 13 other selected Banks

• Debit Card – Just enter your ICICI Bank. Citibank, HDFC Bank or any of the other 7 approved bank’s Debit Card details to pay your insurance premium directly

• Cash Card - Use your Done or ITZ Card to make the payment online

• Cheque/ Demand Draft: You can send a Cheque/ Demand Draft by courier to our office address

ARAI stands for Automotive Research Association of India. If you have installed an ARAI approved anti-theft device in your vehicle, whose installation is dully certified by the agency, you can get a discount of 2.5% on the OD (Own Damage) premium subject to maximum of ₹500

The premium payable for your vehicle depends on the below factors:
• Cubic capacity of the engine
• Age of vehicle
• Geographical Zone
• Type of Model
• Insured Declared Value (IDV)

Passengers other than the insured, namely, the co-passenger/pillion rider, can be insured under this cover by paying an additional premium. This covers them against death or disability caused due an unfortunate accident.

The ICICI Lombard Motor Insurance policy is a comprehensive vehicle insurance cover, which offers you:

• Any Loss or damage to your vehicle
• Third Party Liability
• Any permanent injury / death to a person caused by your insured vehicle
• Any damage caused to the property other than property belonging to the Insured or held in trust or in custody or control of insured by your vehicle
• A Personal Accident Cover for the owner-driver of the vehicle while he is driving

In case of loss or damage to the vehicle or the accessories insured, the Company covers the Insured if the accident occurs due to the following hazards:

• Fire, explosion, self-ignition or lightning
• Burglary, housebreaking or theft
• Riot and strike
• Earthquake (fire and shock damage)
• Flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost
• Accident by external means
• Malicious act
• Terrorist activity
• Whilst in transit by road, rail, inland-waterway, lift, elevator or air
• Landslide and rockslide

What is the process for obtaining only Third Party cover In Long Term Two Wheeler Policy?

Policy will only be issued if the LPG/ CNG kit is duly endorsed on the Registration Certificate (RC) by the concerned RTO

Electrical accessories: Any electrical and/or electronic equipment that is not factory fitted with the vehicle can be covered under electrical accessories at an additional premium of 4% on the value of such fitting. Value of electrical accessories will be as declared by the insured. For example, a Music System that is installed in the car after purchase of the vehicle can be covered. Non-electrical accessories: Any Non-electrical/ Non-electronic equipment that is not factory fitted with the vehicle can be covered under non-electrical accessories at an additional premium of invoice value*. Value of non-electrical accessories should be the invoice value of the non-electrical accessories up to the maximum limit of ₹20,000. For example, Mag wheels and/ or leather seats that are installed in the car after purchase of the vehicle can be covered. * Own damage rate

The IDV of the vehicle is to be fixed based on the manufacturer's listed selling price of the brand and model, as the vehicle proposed for insurance at the commencement of insurance /renewal and adjusted for depreciation. The IDV of the side car(s) and/ or accessories, if any, fitted to the vehicle, but not included in the manufacturer's listed selling price of the vehicle is also likewise to be fixed. The schedule of depreciation for arriving at IDV is as below:Schedule Of Depreciation For Arriving At IDVAge Of The Vehicle % Of Depreciation Fixing IDVNot exceeding 6 months 5% Exceeding 6 months but not exceeding 1 year 15% Exceeding 1 year but not exceeding 2 years 20% Exceeding 2 years but not exceeding 3 years 30% Exceeding 3 years but not exceeding 4 years 40% Exceeding 4 years but not exceeding 5 years 50%

Passengers other than the insured, including a paid driver and cleaner of the vehicle can be insured under this cover by paying an additional premium. This covers them against death or disability caused due an unfortunate accident.

If your vehicle is fitted with anti-theft devices, which are approved by the Automobile Research Association of India (ARAI), a discount on Own Damage (OD) premium is allowed.

Yes, as a member of any of the following recognised Automobile Associations, a discount on Own Damage (OD) premium is given under the policy. The following Associations are recognised:

• The Automobile Association of Eastern India
• The Uttar Pradesh Automobile Association
• The Western India Automobile Association
• The Automobile Association of Southern India
• The Automobile Association of Upper India

The policy essentially contains a Personal Accident cover for the owner-driver, as per tariff. In case of un-named driver, the personal accident cover has to be purchased separately by paying an additional premium.

Personal Accident Insurance covers death or disability caused due an unfortunate accident. The motor insurance policy essentially has a Personal Accident cover for the owner-driver, as per tariff, for which no extra premium is to be paid. For a person other than the owner and driver, the Personal Accident cover has to be purchased separately by paying an additional premium. The amount paid as compensation depends upon the extent of cover opted for.

Third Party Liability insurance covers losses to a third person who is not a party to the insurance contract. The Motor Third Party insurance covers the following losses:

• Any permanent injury / death to a person caused by your insured vehicle
• Any damage caused to the property (excluding vehicle) of some other individual by your insured vehicle

Liability is covered for an unlimited amount in respect of death or injury. Any damage to third party property is covered up to ₹7.5 lakh in case of Private Car and ₹1 lakh in case of Two-wheeler.

The following events or losses are not covered in this policy:

• Mechanical/ Electrical breakdown

• Wear and tear, ageing of vehicle

• Consequential loss*

• Depreciation

• Deliberate accidental loss

• Intoxicated driving

• Any contractual liability

• Damage to/ by a person driving any vehicles or cars without a valid license

* Consequential loss is an indirect loss, which is not directly resulting out of a loss event, but arising as a consequence of loss event. For example, Mr. Singh was on his way to office for an important meeting with client. Unfortunately, his vehicle met with a road accident resulting in damages to vehicle and it consumed lot of his time. Due to this, he could not attend the meeting resulting in loss of approx ₹15 lakh. Damages to vehicle due to the accident are covered however, but the loss of ₹15 lakh is consequential and hence not covered. For details, kindly refer to the Two-wheeler Policy Wordings.

The ICICI Lombard Motor Insurance policy is a comprehensive vehicle insurance cover, which offers you:

• Any loss or damage to your vehicle
• Third Party Liability
• Any permanent injury / death to a person caused by your insured vehicle
• Any damage caused to the property other than property belonging to the insured or held in trust or in custody or control of insured by your vehicle
• A Personal Accident Cover for the owner-driver of the vehicle while he/she is driving

In case of loss or damage to the vehicle or the accessories insured, the Company covers the insured if the accident occurs due to the following hazards:

• Fire, explosion, self ignition or lightning
• Burglary, housebreaking or theft
• Riot and strike
• Earthquake (fire and shock damage)
• Flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost
• Accident by external means
• Malicious act
• Terrorist activity
• Whilst in transit by road, rail, inland-waterway, lift, elevator or air
• Landslide and rockslide

A No Claim Bonus can be availed, provided you show evidence that you are entitled to a No Claim Bonus from your previous insurance company. Evidence can be in the form of:
• A renewal notice or
• A letter confirming the NCB entitlement from the previous insurer or
• A written declaration (please note that in case of a false declaration, the policy will be subject to cancellation)

NCB is a reward for not raising a claim. It is a discount on the premium of the Own Damage (OD) portion of your vehicle when you renew your policy, provided you have not made any claim during the last policy period of one year. The NCB can be accumulated up to a maximum limit of 50% on OD premium.As for Long Term Two Wheeler Policy holders, the below would apply:No Claim Bonus (NCB) Benefits for 3 Years
• No Claim During Policy Tenure - 40% NCB
• One Claim During Policy Tenure - 30% NCB
• Two Claims During Policy Tenure - 20% NCB

As per Section 197 of Motor Vehicle Act 1988, driving without insurance will lead to a fine of up to ₹1000 or imprisonment for up to 3 months or both

Yes, in case you are the customer of ICICI Lombard, or are switching/changing to ICICI Lombard from any other insurance company and have accrued some NCB from your previous insurer, you can get the same transferred provided the vehicle is insured within 90 days of your renewal due date. The same applies if you switch/change from ICICI Lombard to other insurance company

When you buy Motor Insurance online, you get an instant policy, as there is no documentation or paperwork involved. In addition, you have the advantage of choosing from multiple payment options e.g. Credit/Debit Card (Visa, MasterCard, and Amex), Net Banking, etc