ICICI Lombard Comprehensive Bike Insurance

Key Features of ICICI Lombard Comprehensive Bike Insurance

Here's a table highlighting the key features of ICICI Lombard comprehensive bike insurance:

*Disclaimer: The above table is for illustration purposes only. To understand the exact coverage, please refer to the policy wording on the insurer's website.

Why Choose ICICI Lombard Comprehensive Bike Insurance?

A bike insurance renewal provides legal & financial assistance under ICICI Lombard own-damage bike insurance in case of third-party liabilities arising from accidents and damage to your two-wheeler due to accidents, theft, or other unforeseen events like natural disasters or riots.

Opting for ICICI Lombard comprehensive bike insurance offers the following benefits:

• All-round Protection: From minor repairs to major accidents, get all-round protection for the insured bike against several unforeseen risks.
• Financial Security: The insured does not have to bear the expenses of repairs or replacements out of pocket.
• NCB Benefits: For every claim-free year, you can enjoy a 50% discount on your own damage premium.
• Peace of Mind: With comprehensive coverage, you can confidently ride the insured bike, knowing that it is always covered as it has both third-party bike insurance cover and own-damage cover.

ICICI Lombard Comprehensive Bike Insurance Insured Declared Value (IDV)

Insured Declared Value, or IDV, is the maximum amount the ICICI Lombard General Insurance Company Limited would pay during the payout. This amount represents the current market value of your bike and is payable in the event of total loss or unrecoverable theft of the insured bike. ICICI Lombard calculates IDV based on the current schedule given by IRDA, taking into account the depreciation of your bike over time.

ICICI Lombard Comprehensive Bike Insurance No Claim Bonus (NCB)

No Claim Bonus in ICICI Lombard comprehensive bike insurance policy is a reward given to the policyholder for good driving behaviour. It is a discount given for not filing any claims in the preceding policy period. ICICI Lombard provides NCB benefits that increase with each claim-free year and goes up to 50% of the own damage premium. Moreover, the NCB is transferable upon policy renewal or purchase of a new bike, providing additional savings to policyholders.

How to Buy ICICI Comprehensive Bike Insurance Online?

At Policybazaar Insurance Brokers Private Limited, buying a comprehensive bike insurance is convenient. Follow these steps to purchase the policy:

• Step 1: Go to Policybazaar.com and choose 'Bike Insurance' from the 'Insurance Products' drop-down menu.
• Step 2: Enter details about your bike, such as make, model, and year of manufacture.
• Step 3: Compare different plans offered by ICICI Lombard and choose the one that suits your requirements best.
• Step 4: Customize your bike insurance coverage by adding Personal Accident (PA) coverage or opting for additional benefits. You can also check other add-ons available with the policy and enhance the policy coverage.
• Step 5: Make the bike insurance premium payment securely online through UPI, debit/credit card, or Internet Banking, depending on the availability.
• Step 6: Get an email of your ICICI Lombard comprehensive bike insurance policy instantly.

How to Claim ICICI Comprehensive Bike Insurance Policy?

Filing a claim under ICICI Lombard comprehensive bike insurance policy is given below:

• Report Incident: Inform the insurance provider about the incident by calling their customer support or filing an online claim.
• Duly Fill the Claim Form: Download the claim form, fill it out, and submit it online.
• Submit Documents: Provide necessary documents such as the ICICI comprehensive bike insurance policy, FIR in case of theft or accident, and repair estimates.
• Assessment: The surveyor assigned by the insurance provider assess the damages and process your claim accordingly.
• Bike Repairs: If the claim is approved, repair your bike at a network garage without any hassle if you have chosen cashless repair services. In case of reimbursement repairs, send the damaged bike to any nearest garage for repairs.
• Claim Settlement: Once the repairs are done, ICICI Lombard will settle the claim amount directly with the garage in case of cashless repairs, ensuring a smooth experience for you. On the other hand, you have to pay the bill to the garage, and later, the insurance provider will pay the bill to your registered bank account.

FAQs About ICICI Lombard Comprehensive Bike Insurance Policy