ICICI Lombard Car Insurance

Car insurance is an insurance policy to protect the vehicle from the financial damage caused to third parties (person or property) and to one's own car, depending on the car insurance policy opted for by the policyholder.

As per the Motor Vehicles Act, 1988, every vehicle is mandated by law to have at least third-party car insurance. There are 20+ car insurance providers in the country, helping people cover third-party liabilities.

Park+ helps car owners get the best car insurance policy from the leading providers at affordable prices to cover financial damages, depending on their preferences. Check out the best car insurance companies in India including ICICI Lombard, Go Digit, Tata AIG, HDFC ERGO, Bajaj General, National Insurance Company and United India.

ICICI Lombard General Insurance Company

ICICI Lombard General Insurance Company is a joint venture of ICICI Bank and Fairfax Financial Holdings Limited. With a Claim Settlement Ratio of 96.75%, ICICI Lombard sits among the leading car insurance providers of the country, offering an array of services, including reinsurance and claim management as well.

The insurer engages the customers with its customer-centric approach and has over 14,900 garages to facilitate the insurer's hassle-free cashless repairs across the nation. The insurer aims to seamlessly curb financial losses arising from the loss or damage of the vehicle. Moreover, to meet the different customer expectations depending on their driving dynamics, the insurer also provides the option of ‘add-ons’ covers and allows people to customise these covers according to their needs.

What are the key features of ICICI Lombard car insurance?

The key highlights of ICICI Lombard car insurance are:

• Online access: The ICICI Lombard car insurance policy can be purchased online conveniently and securely through reputed platforms like Park+ or through the official website of the provider.
• Financial and legal coverage: The car insurance policy helps vehicle owners by compensating for the loss or damage caused to the third-party or to one’s own vehicle, depending on the policy bought.
• Instant claim process: The policyholders can easily claim the insurance amount, depending on the events occurred, which are covered under the policy purchased. The insurer provides AI-backed claim assistance.
• Cashless garages: ICICI Lombard ensures a smooth claim process and has around 6900+ cashless garages across the country for quick assistance and smooth repairs.
• Support team: The insurer has a dedicated support team to hear the queries of the policyholders and assist them in the right way. Policyholders can either chat or share their concerns on a call, depending on their suitability.
• No Claim Bonus (NCB): ICICI Lombard allows policyholders to enjoy the benefit of NCB, depending on the number of claim-free years. The NCB can go to a maximum of 50%.
• Different coverages: The insurer offers different types of car insurance policies to help vehicle owners get the policy that best suits their budget and needs.
• Riders: ICICI Lombard offers several add-on options to give a free hand to the policyholder to tailor their car insurance policy depending on their coverage needs and driving habits.

What are the benefits of getting an ICICI Lombard car insurance on Park+?

Car insurance is of much significance, adding a protective layer, securing from the financial and legal liability arising out of any unexpected event. ICICI Lombard car insurance offers a bunch of amazing benefits and to ensure the policyholders enjoy the complete journey,

Park+ has come up with some great advantages. A few of the exclusive benefits that individuals can enjoy by purchasing the car insurance policy through Park+ are:

• Comparative analysis: Individuals can quickly check the quotes after adding different riders depending on their driving habits.
• Online process: Park+ is an online platform; thus, the complete process from buy to claim is performed digitally, removing the hassle from the lives of people to visit offices.
• Premium calculation: Individuals can check the premiums using the online car insurance premium calculator. This helps people understand the premium and buy the policy accordingly.
• Quick policy issuance: On purchasing an ICICI Lombard car insurance policy online through Park+, the policy is issued immediately and a soft copy is sent to the policyholder.
• Notifications: Park+ sends timely alerts to the policyholders, ensuring they stay updated about their ICICI Lombard car insurance policy.

What are the different types of ICICI Lombard car insurance policies?

ICICI Lombard General Insurance Company offers different types of car insurance policies, giving options to the policyholders to choose a policy that best matches their coverage expectations.

The basic car insurance policies offered by ICICI Lombard are:

• Third-party car insurance: A third-party car insurance policy offered by ICICI Lombard covers the financial and legal liabilities against the third party (person/property). This type of car insurance is mandatory under the Motor Vehicles Act, 1988.
• Standalone own-damage car insurance: Unlike third-party car insurance, this type of car insurance policy covers the losses or damage caused to one’s own vehicle. This policy is beneficial if one already has a third-party car insurance.
• Comprehensive car insurance: This policy is of great advantage. It covers third-party liability and damage to one’s own vehicle as well. Moreover, individuals can also tailor the car insurance policy by choosing an add-on of their preference.

Widely opted car insurance policy

Zero depreciation car insurance: Also known as ‘nil depreciation’ and ‘bumper-to-bumper.’ It covers the value of depreciation and gives 100% coverage to all rubber, fiber and metal parts. This is highly useful for new cars. It is basically a cover that can be added to a standalone and comprehensive car insurance policy.

ICICI Lombard car insurance premium calculator - what is it?

The ICICI Lombard car insurance premium calculator is a free, online tool used to calculate the premium for a particular policy. The calculator helps individuals to plan their finances properly and understand the EMIs.

The basic highlights of the car insurance premium calculator are:

• It is free to use and requires internet connectivity.
• Easy to use, this tool can be used as many times as you want.
• Minimal information is required to calculate EMI.
• Helps individuals check different plans.
• Give an estimate of the EMIs.

Explore add-ons for your ICICI Lombard car insurance

Add-ons are the simplest way to customise the car insurance policy. Depending on the different factors - driving habits, preferences, etc., individuals can choose the riders or covers they find helpful.

The add-ons offered by ICICI Lombard are:

Roadside Assistance cover: This rider is helpful when the car breaks down and covers all the expenses.

Engine Protect Plus: This rider covers the repair or replacement costs of the engine’s parts if the damage is caused due to water ingression, leakage of the lubricating oil, etc., as mentioned in the cover.

Consumables cover: To get coverage for the consumables such as screw, nuts, washer, oil filters, engine oil, etc.

Zero Depreciation cover: For covering the depreciation value of the car. Garage Cash cover: In case the car is under repair (in the garage), this rider compensates for commuting/travelling expenses.

Loss of Personal Belongings cover: It covers the cost of the personal belongings lost or damaged. The coverage of certain items depends as per the terms and conditions of the rider say laptop or mobile.

Why choose Park+ to buy or renew a car insurance online?

Park+ offers a simple-to-use online platform to check, compare, buy, renew and claim a car insurance policy. For car insurance, Park+ brings together the leading providers - ICICI Lombard, Tata AIG, HDFC ERGO, Bajaj General, Go Digit, United India and National Insurance.

Comparative analysis: Park+ currently offers 7 leading car insurance providers. Car owners can easily compare the policies offered by different providers in a single place with zero hassle.

Best quotes: Interested car owners looking for a car insurance policy can get the best quotes and choose a policy that best suits their budget and preferences.

Unbiased: We aim at offering unbiased car insurance policies to car owners.

Car insurance calculator: Park+ lets individuals make an informed decision by calculating the premium online for different policies for free. The car insurance premium calculator can be used multiple times for free.

Transparency: Park+ showcases accurate information and helps the individual in decision-making, along with providing them with the important details to provide clarity.

ICICI Lombard General Insurance Company is a leading car insurance provider with a good Claim Settlement Ratio. Park+ helps you get an insurance policy quickly and without any hassle. Individuals can opt for an add-on based on the coverage. Moreover, use the car insurance premium calculator to analyse EMI.