ICICI Lombard Comprehensive Car Insurance
ICICI Lombard comprehensive car insurance includes the required third-party insurance and adds coverage for damages to your own car. This type of insurance protects you if your car damages someone else's property or if it gets damaged in an accident. So, if there's an accident that hurts your car and also involves another person, this insurance will pay for both the damage to your car and any costs you owe the other person.
What's Covered and What's Not in ICICI Lombard Comprehensive Car Insurance
This insurance combines coverage for your car and for damages to other people's property. Here’s a simple breakdown:
1What's Covered
- Damage from accidents.
- Damage from natural disasters.
- Damage from fire.
- Theft of your car.
- Damage from vandalism.
- Damage while your car is being transported.
- Legal costs if your car causes injury, death, or damage to someone else’s property.
- Damage to car parts is covered by extra options in your policy, like engine protection.
2What's Not Covered
- Normal decrease in your car's value over time.
- Breakdowns from normal use like mechanical or electrical problems.
- Regular wear and tear.
- Damage if you drive under the influence of drugs or alcohol.
- Damage if someone without a license was driving your car.
- Costs like towing your car.
Disclaimer: The exact things covered and not covered might change based on your specific plan and any extra coverage you choose. Always check your policy details to understand fully what is included.
Benefits of ICICI Lombard Comprehensive Car Insurance
- Very Reliable: ICICI Lombard has more than 4 crore satisfied customers and settles 93.4% of motor insurance claims.
- Cashless Garages: You can get your car repaired without paying any advance at more than 12,000 cashless garages. This saves a lot of time and makes repair hassle-free.
- IL Take Care App: This app is where you can find all your insurance details and activities. You can file claims quickly from this app.
What Affects Your Comprehensive Car Insurance Premium
Here are some things that can change how much you pay for car insurance:
1Age of Your Car
The newer your car, the higher your insurance cost. Older cars usually cost less to insure because they might cost less to repair.
2No Claim Bonus (NCB)
If you haven't made any insurance claims, you could get a discount on your premium. The longer you go without making a claim, the bigger the discount.
3Add-ons
Extra options like zero-depreciation and roadside assistance add more benefits but also make your premium go up.
4Type of Car
The brand, model, and type of your car affect your insurance cost. Sports and luxury cars usually cost more to insure than smaller cars like sedans or hatchbacks.
5Car's Value (IDV)
It is the current value of your car at the time of renewing your insurance. It is directly proportional to how much your car is worth in the market, how much it has depreciated, and the general condition of the car. The higher the IDV, the higher the premium.
FAQs
The older your car, the less you generally pay in premiums. Newer cars are usually more expensive to insure because they may cost more to repair or replace.
A No Claim Bonus is a discount you get on your premium if you don't make any claims during your policy period. The longer you go without claiming, the bigger the discount you can get.
Yes, adding extras like zero depreciation cover or roadside assistance will provide more benefits but will also increase the cost of your premium.
IDV is the current market value of your car that is used to determine your insurance premium. It’s calculated based on your car’s market cost, its depreciation over time, and its overall condition. A higher IDV leads to a higher premium.
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