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ICICI Lombard Standalone Own-Damage Two-Wheeler Insurance Policy

Your two-wheeler insurance provides a layer of protection for both you and the two-wheeler from the uncertainties of the road. ICICI Lombard General Insurance offers three basic types of two-wheeler insurance. The standalone own-damage insurance is not a compulsory cover but is a useful purchase it takes care of own-damage costs in a wide variety of situations. Moreover, the insurance provides the policyholder with a sense of security in times of crisis.

Standalone Own-Damage Insurance V/S Third Party Insurance V/S Comprehensive Insurance

Basis

ICICI Lombard Third Party Two-Wheeler Insurance

ICICI Lombard Standalone Own-Damage Two-Wheeler Insurance

ICICI Lombard Comprehensive Two-Wheeler Insurance

Coverage

ICICI Lombard’s third party two-wheeler insurance will provide coverage for only third party liabilities. This includes bodily injury, death and property damage. The maximum compensation the insurance will provide for property damage Rs 1 Lakh.

ICICI Lombard standalone own-damage two-wheeler insurance will provide coverage for only own damage costs in the event of a mishap. Additionally, policyholders are eligible to receive NCB for claim-free years.

ICICI Lombard comprehensive two-wheeler insurance will take care of both own-damage costs and third party liabilities. Additionally, they also offer an optional personal accident cover for added protection.

Add-ons

ICICI Lombards third party insurance does not offer add-on covers.

ICICI Lombard standalone own-damage insurance for two-wheelers offers several add-on covers for customers to select from.

ICICI Lombard comprehensive two-wheeler insurance plans also offer a variety of add-on covers to choose from.

Cost

ICICI Lombard’s third party two-wheeler insurance is the cheapest policy they offer because it provides the most basic coverage.

ICICI Lombard’s third party two-wheeler insurance is expensive compared to third party insurance as it offers enhanced coverage.

ICICI Lombard’s comprehensive two-wheeler insurance plan is the most expensive as it provides holistic protection by taking care of most own-damage costs and third party liabilities.

What is Covered Under ICICI Lombard Standalone Own-Damage Two-Wheeler Insurance Policy?

ICICI Lombard’s standalone own-damage two-wheeler insurance covers the following aspects:

  • Cases of theft of the two-wheeler or damaged beyond repair.
  • Collisions on the road that damage the two-wheeler.
  • Damage caused during transportation of a two-wheeler.
  • Damage to the two-wheeler due to a natural disaster or man-made calamity.

What is Not Covered Under ICICI Lombard Standalone Own-Damage Two-Wheeler Insurance Policy?

ICICI Lombard’s standalone own-damage two-wheeler insurance does not cover the following aspects:

  • Mishaps that damage the two-wheeler but occur outside the country.
  • Mishaps that damage the two-wheeler but involve illegal riding or misuse in some way.
  • If the two-wheeler has a breakdown due to a mechanical or electrical fault.
  • Depreciation of the two-wheeler.

ICICI Lombard’s standalone own damage insurance plan for car provides coverage for car damages resulting from natural disasters such as earthquakes, floods, cyclones, landslides, etc., as well as man-made disasters like theft, burglary, riots, strikes, etc. Here, you’ll find more details about this essential policy cover.

What is Own Damage Car Insurance?

Standalone own damage insurance is a specialised car insurance policy designed to cover damages to your vehicle resulting from various incidents such as accidents, theft, fire, or natural disasters. Introduced by the Insurance Regulatory and Development Authority of India (IRDAI) in September 2018, standalone own-damage insurance offers consumers greater flexibility and choice in insurance coverage options.

A policy with an Own Damage (OD) clause will cover the costs of repairing your vehicle if it gets damaged. For example, if you accidentally collide with your neighbour's car, your insurance will cover the repair costs for your neighbour's vehicle under the mandatory third-party insurance, but you'll be responsible for repairing your own car.

This is where a standalone OD insurance policy proves beneficial and helps you save money by covering damages to your own vehicle.

Key Features

Listed below are some key features of ICICI Lombard own damage car insurance. These features make ICICI Lombard an ideal insurance provider.

  • Insurance Premium: The ICICI Lombard own damage Car Insurance Premium starts at ₹2,094.
  • No Claim Bonus: You can receive a No Claim Bonus of up to 50%.
  • Cashless Garages: With ICICI Lombard, you can access over 13,000 Cashless Garages in our network.
  • Roadside Assistance: The ICICI Lombard own damage policy covers offers 100% roadside assistance.
  • Personal Accident Cover: You can get a Personal Accident Cover of up to ₹15 lakhs with ICICI Lombard.
  • Coverage: ICICI Lombard Own Damage Cover includes accidents, natural calamities, theft, fire, and personal belongings accidents.
  • Claim Settlement: ICICI Lombard’s customers get instant survey via InstaSpect for Claim Settlement.

How To Buy ICICI Lombard Standalone Own Damage Car Insurance?

To purchase ICICI Lombard Car own-damage insurance online, follow these steps:

  • Step 1: Go to the car insurance section on the ICICI Lombard website.
  • Step 2: Enter all necessary details, including your mobile number, email address, car registration number, city of registration, and registration year.
  • Step 3: Choose the ICICI Lombard standalone car insurance policy from the available options.
  • Step 4: Customise your coverage by selecting add-on covers to suit your requirements.
  • Step 5: Complete the payment for the premium using debit cards, credit cards, net banking, or other available methods.
  • Step 6: Receive your car policy documents directly in your email inbox.

Add-Ons

You can increase your standalone own damage insurance policy by buying add-ons. This will give you coverage for zero depreciation, engine protection, lock and key protection, roadside assistance coverage, and many more.

  1. Roadside Assistance Cover: ICICI Lombard helps you get towing benefits in case your car breaks down.
  2. Zero Depreciation Cover: The zero depreciation cover compensates the value of your car as it ages.
  3. Engine Protect Cover: With ICICI Lombard, this cover compensates for repair/ replacement of the damaged car engine.
  4. Garage Cash Cover: While your car is being repaired, ICICI Lombard provides you alternate transportation allowance.
  5. Consumables Protect Cover: The repair/ replacement cost of car parts (nuts, bolts, screws etc) are covered in the ICICI Lombard own damage policy.
  6. Personal Belongings Cover: If your personal belongings get damaged, then you don’t have to worry as ICICI Lombard cover them under its own damage policy.

Documents Required to Buy ICICI Lombard Standalone Damage Car Insurance

You require the below-mentioned documents to buy ICICI Lombard Standalone Damage Car Insurance:

  1. A proof of identity, which could be one among:
  • Passport
  • Driving licence
  • Aadhar
  • PAN card
  • Government-issued photo ID
  1. A proof of address, which could be one among:
  • Passport
  • Driving licence
  • Bank or post office passbook
  • Government-issued address proof
  1. A recent passport-size photograph
  2. Driving licence
  3. Registration certificate of the vehicle

How Does a Standalone Own Damage Car Insurance Policy Work?

Standalone own-damage insurance focuses on covering damages to your own vehicle. It covers damages from accidents, theft, natural disasters, fire, and more. The premiums are calculated based on the make and model of the car, its age, the geographical location, the insured declared value (IDV), and optional add-ons.

Own damage insurance is issued for a one-year term, renewable annually. In case of damage or loss to the insured vehicle, the policyholder needs to inform the insurance company and file a claim. This involves providing details of the incident, such as the time, date, location, and nature of the damage.

The insurance company may assess the extent of the damage and determine the claim amount based on the policy terms and conditions. Depending on the assessment, the insurer may either help with the repairs at a network garage or provide compensation equivalent to the repair cost. Policyholders need to renew their standalone own damage insurance before the expiry date to ensure continuous coverage.

ICICI Lombard Own Damage Car Insurance Claim Process

How to File a Claim (Step-by-Step Process)

When an accident occurs, it can cause significant trouble due to the losses and damages incurred. To simplify the process, follow these easy steps on InsuranceDekho’s official website to file a claim for standalone own damage insurance.

  • Step 1 - Firstly, you can contact us if your car suffers accidental damage. For this, reach out via our toll-free number – +91-7551196989 or email us at support@insurancedekho.com.
  • Step 2 - Check the "Claims" section on our car insurance webpage, where you'll receive a link on your mobile number for self-inspection of your car. Additionally, a surveyor will examine the damages and evaluate them. Enter the damage specifics on the online form according to your inspection.
  • Step 3 - In the last step, you can opt for either a cashless claim or reimbursement. With the former, your car would be repaired at one of our network garages, and we’ll handle the expenses directly.

Alternatively, you can choose your preferred garage for repairs and receive reimbursement accordingly.

Documents Required

The following documents are required to file a claim for standalone own-damage car insurance:

  • Copy of the Registration Certificate or RC
  • Copy of the Driving License
  • Copy of the FIR
  • Original estimate of the cost of repairs
  • Receipts of any payments made which are to be reimbursed
  • Policy certificate
  • Duly filled and signed claim form

Claim Assistance

You can get assistance from InsuranceDekho by contacting us at support@insurancedekho.com. You can also call us at +91-7551196989 to get an agent for a physical visit.

Covered Vs Not Covered Under ICICI Lombard Standalone (OD) Car Insurance Policy?

Inclusions:

Listed below are the inclusions in ICICI Lombard’s standalone own damage insurance:

  • Accidents,
  • Natural calamities,
  • Theft,
  • Fire and Personal Belongings Accident Cover

Exclusions:

Listed below are the exclusions in ICICI Lombard’s standalone own damage insurance:

  • Intentional damage to your own car or someone else's property
  • If the car is used to commit a crime, ICICI Lombard may not cover any resulting damage.
  • Driving under the influence of drugs or alcohol, the policy may not cover any resulting injuries.
  • If the car is used for racing or other high-risk activities, this policy cover may not provide coverage for any resulting damage.
  • Commercial use of your vehicle, like delivering goods or transporting passengers for payment, might affect your personal car insurance.
  • Damage from regular wear and tear, such as mechanical breakdowns or routine maintenance, might not fall under the coverage.
  • Your insurance policy may exclude coverage for accidents caused by the negligence of a minor driver.

Factors that Affect Your Own Damage Car Insurance Premium?

It is important to consider these factors affecting standalone own damage insurance premiums:

  • Insured Declared Value (IDV): The current market value of your car, known as IDV, affects your standalone own damage insurance premium. Hence, opting for a higher IDV increases your insurance cost accordingly.
  • Car's Age: As your car ages, it depreciates, impacting its value and reducing the own-damage premium.
  • Car Model: High-end or luxurious cars have a greater risk for expensive damages, leading to higher premiums for standalone insurance policies.
  • No Claim Bonus (NCB): A clean claims record during the policy term provides you a No Claim Bonus, reducing the standalone own damage insurance premiums upon renewal.
  • Add-ons: While additional features like Zero Depreciation or Roadside Assistance increase coverage, they come at an extra cost. Therefore, choosing essential add-ons helps control the own-damage premium.

Must Read Articles before buying Icici Lombard Bike Insurance

Icici Lombard Bike Insurance User Reviews

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What users are saying
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  • Third Party
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  • Great Support

    My experience with ICICI Lombard bike insurance has been excellent. Recently, my bike’s engine needed some major repairs. With the help of InsuranceDekho, I was able to claim the expenses quickly. Their customer support is top-notch and very responsive.

    R
    By Rohan Sharma
    On: June 20, 2024
  • No Claim Bonus Discounts

    I’ve been paying my ICICI bike insurance’s premium on time. Although, I used to think that policy renewal is not that important, I now see the bigger picture. Just last week, I got a discount due to my claims-free policy and had to pay a lesser amount. I’d recommend everyone to renew their policies and take advantage of this no-claim bonus benefit.

    G
    By Gagan Dahiya
    On: June 18, 2024
  • Best Customer Service

    Last week, I noticed that my bike’s brake lever is damaged. I quickly called an InsuranceDekho agent to get some help. He then asked me about my ICICI bike insurance policy and contacted my insurer. Because of this guidance, I was able to get 100% claim on the damages.

    R
    By Ritika Gulati
    On: June 13, 2024
  • 24*7 Customer Support Availabi...

    Since the last couple of weeks, my bike’s exhaust was not working properly. I decided to get it repaired at a cashless garage. For this I contacted an InsuranceDekho agent, to help me out with claim settlement of my ICICI Lombard’s bike insurance.. They coordinated with my insurer and I was able to get the exhaust repaired.

    S
    By Suresh Kohli
    On: June 11, 2024
  • Highly Satisfied with the Serv...

    I recently purchased a Yamaha R15S. After a few months, its fenders were damaged. That’s when I raised a claim from my ICICI comprehensive bike insurance policy. As it was my first claim, I needed help, so I contacted InsuranceDekho. They helped me with the claim settlement process.

    R
    By Ravi Shankar
    On: June 10, 2024
  • Helpful Assistance

    The people at InsuranceDekho were really helpful. They answered all my questions and made sure I got the perfect bike insurance for me.

    V
    By Vishnu Sharma
    On: March 2, 2024
  • Quick and Reliable Repairs

    InsuranceDekho's comprehensive coverage ensures that repairs are quick and reliable. I am glad that I decided to buy the ICICI Lombard Bike Insurance Policy for my Royal EnfieldThey have a network of trusted repair centers.

    S
    By Sudhanshu Kumar
    On: November 29, 2023
  • Great for Comparing Quotes

    I used InsuranceDekho's premium calculator to compare quotes from different insurers. It is an excellent tool for making an informed choice of purchasing the ICICI Lombard Bike Insurance Policy for my Bajaj bike.

    N
    By Namita Kamra
    On: November 24, 2023
  • The Perfect Choice for Car Ent...

    If you're a bike enthusiast who truly values your vehicle, zero-dep ICICI Lombard Bike Insurance Policy is the perfect choice. Since I have taken this policy, it keeps my Kawasaki bike in its prime condition, no matter what life throws at it.

    R
    By Ravi Rathod
    On: November 21, 2023
  • Efficient Claims Process

    I had to make a claim for third-party damage for my ICICI Lombard Bike Insurance Policy, and the process with InsuranceDekho was efficient and straightforward. They ensured the claim for my Jawa bike was handled professionally and quickly.

    A
    By Ashish Batla
    On: November 15, 2023

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