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 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.

Personal accident cover: The motor insurance provides compulsory personal accident cover of Rs. 2 lakhs for individual owner driver of the vehicle insured while travelling in, mounting or dismounting from the car. 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.

No Claim Bonus: If you do not make a claim during the policy period, a No Claim Bonus (NCB) is offered on renewals. This discount can go as high as 50%. (NCB will only be allowed provided the policy is renewed within 90 days of the expiry date of the previous policy.)

Transfer your NCB: You can transfer full benefits of No Claim Bonus when you shift your motor insurance policy from another company to ICICI Lombard.
The discount rate remains the same, provided you show evidence that you are entitled to No Claim Bonus from your previous motor insurance company.

Voluntary Excess discount: A further discount on the premium is available if you opt for a Voluntary Excess in addition to the Compulsory Excess. (Compulsory Excess is the amount of loss which the insured has to bear in each and every claim.)

Additional discounts: If you are a member of a recognized Automobile Association in India you can avail a discount of 5% on the OD Premium subject to a maximum of Rs. 200.

Discount for Anti-theft Devices: In case you have installed ARAI approved anti theft device in your vehicle, you get a discount of 2.5 % on the OD Premium to a maximum of Rs. 500.

Cover yourself and your family: You can also opt for personal accident cover of up to Rs. 2 Lakhs for other unnamed passengers in your car. For e.g. your family, relatives, friends etc.

Customise your insurance with additional covers: Electrical and/ or non-electrical items fitted to the vehicle can be insured separately. For example: fog lights, music system, seat covers.

In case of vehicles fitted with bi-fuel system such as Petrol/ Diesel and CNG/ LPG, permitted by the concerned RTO, the CNG/LPG kit fitted to the vehicle is to be insured separately at an additional premium of 4% on the value of such kit. You need to specifically declare this in the proposal form.

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.