ICICI Lombard Standalone Own Damage Car Insurance
This type of insurance specifically covers damage to your car from things like accidents, theft, fire, or natural disasters. For instance, if you hit your neighbor's car, the mandatory third-party insurance will pay for your neighbor's repairs, but not for your car. Standalone own damage insurance helps you by paying for repairs to your car, saving you money on these costs.
Standalone Car Insurance v/s Third-Party Car Insurance v/s Comprehensive Car Insurance
| Features | Own Damage Insurance | Third-Party Insurance | Comprehensive Insurance |
|---|---|---|---|
| Coverage your own car | Covers damages to your car only | Not covered | Covers damages to both your car and third-party liabilities |
| Third-party liability coverage | Not covered | Covers third-party property damage and injuries | Covers both third-party liabilities and own car damage |
| Coverage for theft | Yes, car theft is covered | Not covered | Yes, car theft is covered |
| Coverage for natural disasters | Yes, covers natural disasters like floods | Not covered | Yes, covers natural disasters |
| Coverage for man-made events | Yes, covers vandalism and riots | Not covered | Yes, covers man-made events |
| Personal accident cover | Optional (through add-ons) | Not included | Available as an add-on |
| Premium cost | Moderate | Lower as it only covers third-party liabilities | Higher due to broader coverage |
| Add-on covers available | Available (e.g., zero depreciation) | Not available | Available (e.g., engine protection, zero depreciation) |
| Legal requirement | Not required | Mandatory by law | Optional but highly recommended |
| Best for | Those wanting protection for their own car | Those seeking basic, mandatory protection | Those seeking full coverage for car, third-party, and theft |
What's Covered and Not Covered Under ICICI Lombard Standalone Own Damage Car Insurance
1Covered (Inclusions)
- Accidents: Damage to your car due to accidents.
- Natural Calamities: Damage from events like floods or earthquakes.
- Theft: If your car is stolen.
- Fire: Damage due to fire.
- Personal Belongings Accident Cover: If personal items in your car are damaged in an accident.
2Not Covered (Exclusions)
- Intentional Damage: If you purposely damage your car or someone else’s property.
- Criminal Use: Damages won’t be covered if your car is used for committing a crime.
- Driving Under Influence: No coverage for damages if driving under the influence of drugs or alcohol.
- Racing or High-risk Activities: Damages from racing or other similar activities are not covered.
- Commercial Use: Using your car for business purposes like deliveries or transporting passengers for a fee may not be covered.
- Wear and Tear: Regular wear, mechanical breakdowns, or routine maintenance are not covered.
- Negligence by Minor: Accidents caused by a minor driving the car without proper oversight might not be covered.
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.
How to Buy ICICI Lombard Own Damage Car Insurance from Square Insurance
1Step 1
Go to the Square Insurance website at "https://www.squareinsurance.in/".
2Step 2
Click on "Car Insurance" under the "Insurance Products" menu.
3Step 3
If you have a new car, click on "Got a New Car".
4Step 4
If you have an old car, enter the car's registration number and then click on "View Plans".
5Step 5
Fill in the required details such as RTO, make, model, variant, and registration year.
6Step 6
You'll see different plans on your screen. Look through them and pick the one from ICICI Lombard.
7Step 7
Pay for the selected plan. You'll receive the policy document in your email shortly from the insurance provider.
Add-On Features Available with ICICI Lombard Own Damage Car Insurance
You can add extra features to your ICICI Lombard own-damage car insurance to get more coverage. These extras include zero depreciation, engine protection, key replacement, roadside assistance, and more.
1Roadside Assistance Cover
ICICI Lombard offers help like towing if your car breaks down.
2Zero Depreciation Cover
This cover pays for the decrease in the value of your car as it gets older.
3Engine Protect Cover
This extra helps pay for fixing or replacing your car’s engine if it gets damaged.
4Garage Cash Cover
ICICI Lombard gives you money for alternate transportation while your car is in the shop.
5Consumables Protect Cover
This covers the cost of replacing small parts like nuts, bolts, and screws during repairs.
6Personal Belongings Cover
If personal items in your car get damaged, ICICI Lombard will cover the cost.
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