About ICICI Lombard Bike Insurance
ICICI Lombard General Insurance Company is a joint venture between a financial services provider Fairfax Financial Holdings Limited, and India's second-largest bank ICICI Bank. It was founded in the year 2001 and has served a vast number of customers covering all the domains of insurance, including health, motor, life, investment, crop, and liability, among others. The company has processed over 3.6 million claims as part of its services so far.
Key Features ICICI Lombard bike insurance
| Specifications | Features |
|---|---|
| Network Garage | 6200+ |
| Claim Settlement Ratio | 93.4% |
| No Claim Bonus | Covered |
| Personal Accident Cover | Up to 15 Lakhs |
| Customer Assistance | Available for their customer 24*7 |
| Repair Warranty (in months) | 6 Months |
Why Buy ICICI Lombard Bike Insurance
Every company has its own unique USPs. Some amazing ICICI Lombard Bike Insurance USPs include
1AI-enabled Claims for Rapid Settlement
ICICI Lombard has been using artificial intelligence in the settlement of bike insurance claims. With the help of AI-enabled technologies, the company is able to evaluate claims very fast and settle them. This way, policy holders experience faster settlement and efficient deal-making with the company.
2Service Assurance on Renewals
ICICI Lombard provides service assurance in respect of renewals. They give the policyholders reliable services. Moreover, there is assurance that the insurer would complete any necessary repairs efficiently.
3Covers Personal Accident
ICICI Lombard provides a Personal Accident cover under its add-ons. There is financial protection against accidental injuries or death while riding.
FAQs
Yes, you can easily purchase bike insurance through the ICICI Lombard app. It allows you to choose your plan, make payments, and get your policy instantly, all from your phone.
ICICI Lombard provides three two-wheeler bike insurance plans:
- Standalone Own-Damage: Insurance to protect damages to your own bike.
- Third-Party Liability: This will cover the damage or injury you may cause to others or their property.
- Comprehensive Insurance: Covering Own Damage and Third-party Liability together to keep you covered completely.
ICICI Lombard offers several benefits to their customers:
- Easy, hassle-free renewal process
- Multiple eligibility for No Claims Bonus (NCB).
- Single policy certificate valid for up to three years, no paperwork required.
Renewal of your bike insurance is quite simple and can be done in just a few minutes online through the app/web platform by ICICI Lombard.
No Claim Bonus is the reward for not raising any claim during the policy period. ICICI Lombard allows one to accumulate multiple NCBs over time and, consequently, discounts on the premium during renewals.
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