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  • ICICI Lombard Two Wheeler Insurance

    Two Wheeler Insurance
    • Get quotes from multiple insurers
    • Cashless garages available
    • Buy/renew your policy online without hassles

    ICICI Lombard General Insurance is one of the market leaders in providing two-wheeler insurance services. They also offer other insurance products such as general insurance, travel insurance, health and car insurance. A joint venture between a Canadian financial services company and ICICI Bank, the company currently has as many as 257 branches across India.

    Different types of Bike Insurance

    ICICI Lombard offers customers the privilege to choose from insurance options such as the Comprehensive Two-Wheeler Insurance Policy and Third-Party Liability policy.

    • Comprehensive Two Wheeler Insurance- The comprehensive two wheeler insurance policy provides policyholders extensive coverage against the various risks that could cause damage to the vehicle and the life of the owner. The protection offered includes third-party liability, personal accident cover, cover against any natural calamities such as floods, earthquakes, cyclones, typhoons, rockslides and cover against man-made calamities such as riots, terrorist activity, strikes, etc.
    • Liability Only Two-Wheeler Policy - This policy only provides protection against third-party liability and does not provide any other coverage options. Therefore one cannot avail any cover in the case of own damage due to personal accident.

    Comprehensive Two Wheeler Insurance

    The ICICI Lombard comprehensive 2 wheeler insurance policy is a complete solution that offers a wide variety of added benefits and also includes a package of add-on options. The policy will cover loss or damage caused to the vehicle or its parts due to both natural and manmade calamities. The policy offers personal accident cover, which can also be opted for other passengers. Apart from this, third-party legal liability in covered for accidents that cause permanent injury, death or damage to property. Additional add-on covers offer protection for the seat covers, accessories and lights, upon the payment of an additional premium.

    Coverage Of Comprehensive Two Wheeler Insurance

    Items Coverage provided
    Features
    • Quick claim settlement
    • Instantaneous purchase
    • Wide range of add-ons
    Inclusions
    • Third-party liability
    • Personal accident cover
    • Loss due to natural calamities
    • Loss due to man-made calamities
    Exclusions
    • Loss due to wear & tear
    • Damage due to general aging of the car
    • Nuclear risks, war

    Liability Only Bike Insurance

    Liability only two wheeler insurance is compulsory by law and this only covers third-party liability.

    Coverage of Liability Only Two wheeler Insurance

    Death or Bodily Injury This provides coverage in case of death or bodily injuries caused to third parties due to an accident involving the policyholder.
    Damage to Property In cases when damage has been caused to the property of the third-party, protection will be offered under the insurance policy
    Accidental Death / Permanent Total Disability In case of death or the event of permanent disability due to an accident or unfortunate event, the insurance policy will provide coverage for the same

    Important Benefits of Bike Insurance

    • Online issuance of policy - ICICI Lombard issues policies online and customers can make a purchase by following just a few simple steps. Payments can be made online through net banking or through the use of debit/credit cards.
    • Emergency services - In the case of an emergency or unfortunate event, ICICI Lombard provides assistance services to the spot of the accident round the clock. Services can be availed through the toll-free number.
    • Towing services - A coverage of up to Rs.1,500 will be given for towing the vehicle from the accident zone to the nearest network garage.
    • Cashless claim network - ICICI Lombard has a huge network of empanelled cashless claim networks across the city. All repair work can be done at these designated centres directly without any cash transactions. This comes as a boon for customers who can easily avail this service without going through the hassle of looking for a garage centre at the time of a crisis.
    • Online approval - All minor claims will be approved by the insurance company online within a short span of time to allow the customer to have access to cashless claim services as soon as possible.
    • 24/7 customer support - A customer support team will be available to solve any queries relating to the purchase of insurance policies, claim settlement, cashless claim services, reimbursement, renewal and any other related issues.
    • Hassle-free claim settlement - Claims are settled in a quick and efficient manner by ICICI Lombard. No claims are kept pending and all claim related issues are solved at the earliest possible date. Claims can also be initiated easily through the website or by calling their toll-free number, which is available on a 24/7 basis across the country.
    • Easy renewal - Say goodbye to long queues, getting stuck in traffic and following up for insurance policy renewals. With everything going the online way, getting your policy renewed is a simple process. This can be done online by filling up a simple renewal form and making a payment online.
    • Additional benefits - ICICI Lombard provides a host of benefits including the no claim bonus discount, which can be availed even after making two claims during the policy tenure.
    • Long-term policy - ICICI Lombard offers a comprehensive long-term policy that is valid for a period of up to 3 years. With this, there is no need to go through the hassle of renewing the policy every year and some can also become eligible for some of the attractive discounts offered on long-term insurance policies.
    • Wide range of add-ons - Enhance your policy and secure your future with the wide range of add-on options offered by ICICI Lombard.

    Exclusions and Inclusions In Two Wheeler Insurance

    Inclusions Exclusions
    Loss or damage caused due to:
    • Fire, explosion & self-ignition
    • Natural calamities such as floods, storms, landslides, earthquakes, rockslides, hurricanes, lightning
    When the policyholder uses the vehicle contrary to mandated instructions
    Loss due to theft, robbery, and other manmade calamities such as strike, riots, terrorist activities, accidental external damage Accident due to intoxication
    Damage caused due to travel by road, air, elevator, inland waterway Damage due to own negligence
    Third-party liability in cases of injury, death or damage Mechanical or electrical breakdown
    Personal accident cover Loss due to nuclear risks
    Loss due to electrical or non-electrical accessories War related risks
    Legal liability to passengers who do not pay fares Consequential loss
      Contractual liability
      Loss of accessories by theft
      If used/driven outside geographical area

    What Is Long And Short-term Bike Insurance?

    There are two types of tenure that one can choose when it comes to two wheeler insurance: a long-term policy and a short-term policy. These two types of terms offer different sets of benefits and a policyholder can choose what best suits his needs and personal preferences.

    Typically, a short-term insurance policy has a tenure of fewer than 3 years, and sometimes this term can also be just for a few months, depending on the policy wordings. On the other hand, a long-term policy offers continuous coverage for a period of 3 years or more. These types of policies come with better offers and discounts and most importantly, you need not go through the hassle of renewing the policy every year.

    Long-Term Motor Insurance

    There are many benefits of purchasing a long-term insurance policy as compared to a short-term insurance policy. Firstly, this is a great way to save cost and reduce your premium amount as the policyholder will not have to worry about renewals every year and he/she can also benefit from the number of attractive discounts offered by the insurance company under this option. Also, apart from money, this also saves the customer time and energy. This is because if a policy has to be renewed, there is a need for a representative from the insurance company to survey the vehicle in question and this becomes a time-consuming process. Other certificates and documents also need to be provided at the time of renewal. Therefore with a long-term insurance policy, there is no need for renewals for at least a 3-year period.

    However, policyholders should note that there can be no changes made to the policy during the tenure and the rate of premium will also not be changed. Hence, any new offers provided in the market cannot be added until the time of renewal

    Features

    Lesser premium
    Attractive discounts
    Saves time

    Revised Policy Rates For Two wheeler Insurance

    The IRDA (Insurance Regulatory and Development Authority of India) has reduced the premium amount for two wheeler third-party insurance for the fiscal year 2017-18. Below are the new rates applicable to two wheelers:

    Type of Vehicle Change in Rate
    Two-wheelers with engine capacity lower than 75cc Rs.455 from Rs.414
    Two-wheelers with engine capacity lower than 150cc Rs.464 from Rs.422
    Two-wheelers with engine capacity exceeding 150cc but lower than 350 cc Rs.462 (new rate)
    Two-wheelers with engine capacity exceeding 350cc Rs.884 (new rate)

    Available Add-On Covers in Bike Insurance

    The following are the add-on options available under ICICI Lombard 2 wheeler insurance:

    • Electrical and nonelectrical parts- Coverage will be provided for all electrical and nonelectrical parts in the vehicle after paying an extra premium amount towards the insurance of these parts.
    • Seat cover- This add-on will provide the customer the cost of replacement of the seat and the seat cover in case of damage due to any unfortunate event.
    • Lights- Customers can choose this add-on to cover the cost of repair and replacement of lights and light related parts in the insured 2 wheeler.
    • Bi-fuel- Protection will be provided to the bike’s bi-fuel kit and coverage will be provided in case of any damage.

    What is Zero Depreciation Cover in Vehicle Insurance?

    Zero depreciation is an add-on option provided by insurance companies. This rider basically covers the loss that will be incurred by the insurance policyholder due to the loss in the value of the vehicle and its parts over a period of time. This cover will insure or cover this risk. If the vehicle is not protected against depreciation, at the time of claim settlement, the insurance provider will pay the policyholder after deducting a certain amount towards depreciation.

    For example, if the insurance company is supposed to make a reimbursement of Rs.2 lakh, Rs.60,000 will be availed or taken off by the insurance company towards depreciation charges.

    Which means: Rs.2 lakh - Rs.60,000 = Rs.1,40,000

    The policyholder will thus be eligible to receive only Rs.1,40,000 as the sum assured through the vehicle insurance policy.

    Below is a table that summarizes how depreciation is taken into account to calculate the Insured Declared Value of the car.

    Age of vehicle % of depreciation
    Not exceeding 6 months 5%
    Exceeding 6 months but not exceeding 1 year 15%
    Exceeding 1 year but not exceeding 2 years 20%
    Exceeding 2 years but not exceeding 3 years 30%
    Exceeding 3 years but not exceeding 4 years 40%
    Exceeding 4 years but not exceeding 5 years 50%

    Step By Step Process For Two Wheeler Insurance Renewal

    • Log on to the ICICI Lombard General Insurance website and go to the two-wheeler insurance section
    • This will redirect you to the two-wheeler insurance main page. Here, click on the ‘renew two-wheeler insurance’ option
    • This will redirect you to another page, where you have to provide basic policy details, personal details and proceed to make a payment.

    Two wheeler Insurance Claim Process

    To make a claim under ICICI Lombard one needs to understand the basic steps involved. Its is a very simple process and claims can be made online or through the toll-free number of the company. Let us understand the process involved in making a claim online:

    • Log on to the ICICI Lombard General Insurance website and click on the ‘Claim’ option
    • Here you have to choose the type of policy you have and what type of claim you want to make. Once this is done, you need to fill in the required details and the claim will be processed

    There are two types of claims that can be made under the 2 wheeler insurance policy: Cashless Claims and Reimbursement Claims.

    Cashless claims-

    Cashless claims can be made through the wide network of ICICI Lombard cashless garages, where customers can directly avail repair services without any hassles. The cost of repair will be covered by the insurance policy subject to terms and conditions. Let us understand how to make a cashless claim:

    • Inform the insurance provider
    • Get the vehicle towed directly to the nearest network garage
    • The payment will be made directly by the insurance provider to the concerned network garage

    Reimbursement claims-

    Reimbursement claims are made after the repair expenses have already been incurred or in the case of total damage. To make a claim under this method, one needs to provide adequate proof or evidence of the damage that has been caused by way of photographs, or other documentary evidence. Apart from this bills and invoices need to be provided as proof for the cost incurred.

    What to do after Bike Insurance Expiry?

    In case you have forgotten to renew your insurance policy or the policy has lapsed, fret not. You can renew your policy even after it has expired. All you have to do is contact your insurance provider and intimate the company about the status of the insurance policy in question. Then renew it online by following a few steps. Sometimes, if the policy has lapsed for a long duration, then you have to, may be, purchase a new insurance policy.

    How to Calculate Bike Insurance Premium?

    There are a number of factors that determine the premium amount for two-wheelers. Premium is calculated after taking into consideration all these factors like the age of the insurance policyholder, the make of the vehicle, the manufacturer’s listing price and depreciation.

    How to save Bike Insurance Premium?

    There are a number of factors that determine the premium amount for bike insurance. Many policyholders are charged exorbitantly, while some are charged differently. Let us examine the factors that help reduce the premium amount:

    • Select a cheaper vehicle as costs related to the repair of these kinds of vehicles are comparatively lesser
    • Do not go for models that are outdated in the market or models that are not manufactured anymore. This is because it is very difficult to get parts and garages are not equipped to handle repairs of such models
    • Most insurance companies look at your driving record and those with a good track record are less prone to accidents and therefore will be eligible for a lesser premium amount
    • Though it may seem like paying monthly installments are a much more cheaper option, in reality, insurance companies will give an attractive discount to those who pay the premium at one shot. This becomes a win-win situation for both parties

    This insurance company/organisation is not a partner of Bankbazaarinsurance.com. The content provided here is for informational purposes only. Readers should visit the branch office/website of the insurer for more details. The logos, trademarks, and other intellectual property on display belong to their respective owners.

    Two Wheeler Insurance Reviews

    • review Two Wheeler Insurance
      "AVERAGE"
      0.5 3.0/5 "Satisfactory"
      There is no particular reason for taking the two wheeler policy from Icici Lombard General Insurance but from the showroom i got this policy where the premium is higher but also i have used this for 1 year but i had no claim experience when i went to renew this policy they said like i had claim experience where it is not not truth.
      Was this review helpful? 0
      , kanchipuram
      Reviewed on Aug 20, 2018
    • review Two Wheeler Insurance
      "AVERAGE"
      0.5 4.0/5 "Great!"
      I have taken the two wheeler policy with the Icici Lombard General Insurance where i have faced no difficulties with this policy also i had no claim with this policy added on that i had claim but they have not responded so i repaired my bike with my own money. I have used this for 2 years.
      Was this review helpful? 0
      , thiruvannamalai
      Reviewed on Aug 20, 2018
    • review Two Wheeler Insurance
      "GOOD"
      0.5 4.0/5 "Great!"
      I am using the two wheeler policy with Icici Lombard General Insurance and i have used this policy previously for 2 years i had no claim experience with this policy. I have submitted the documents through offline it is little difficult to submit it. I had a interaction with the customer service where they gave no response.
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 20, 2018
    • review Two Wheeler Insurance
      "Very Good for two wheeler insurance"
      0.5 4.0/5 "Great!"
      I never claim anything by using this policy hence i have not spoke with the customer. I have purchased this policy through online. I have paid the premium amount of Rs. 1200 which is very low. They are not providing the cashless garages. I can claim the maximum amount of Rs. 40000.
      Was this review helpful? 0
      , kolkata
      Reviewed on Aug 17, 2018
    • review Two Wheeler Insurance
      "Average policy"
      0.5 3.0/5 "Satisfactory"
      They have not provided any extra features. The premium is too high when i compared with other companies. Thats the reason i denied to continue the policy with ICICI Lombard. I forgot the premium amount. I have purchased this policy in the year of 2015. I need a policy on emergency basis thats the reason without any comparison i have taken the policy.
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 14, 2018
    • review Two Wheeler Insurance
      "BEST"
      0.5 4.0/5 "Great!"
      I have used my two wheeler policy from Icici Lombard General Insurance before 1 year and i had no experience with claim with this policy. The documentation for this policy i have done it with the simple process. I had no claim experience with this policy also added on that i am not aware of the premium.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 14, 2018
    • review Two Wheeler Insurance
      "Dipical to maintain"
      0.5 3.0/5 "Satisfactory"
      Previously i own my honda activa. Almost this is the 6th year I'm renewing the policy with ICICI Lombard. Actually they respond well. I did not claim for the single time. My insurance was lapsed and i asked for the new quote but there is no one there to given a proper response. I have paid a premium was very costly. The last premium i had was around Rs. 1100 for a six year old vehicle.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Aug 14, 2018
    • review Two Wheeler Insurance
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      I have taken the policy for my two wheeler from Icici Lombard General Insurance when i compared with my previous policy it is better. I have purchased my policy through offline process added on that premium and also the IDV value is good also the coverage is includes the 3rd party.
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 14, 2018
    • review Two Wheeler Insurance
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      I have been using my two wheeler policy from Icici Lombard General Insurance and i have used this policy for 1 year added on that i had no claim experience also the documents i have submitted through online. The premium is lower in this policy when i compared with others.
      Was this review helpful? 0
      , jamshedpur
      Reviewed on Aug 14, 2018
    • review Two Wheeler Insurance
      "Average policy"
      0.5 4.0/5 "Great!"
      From my service centre, they have suggested me to take the policy with ICICI. I have paid the premium amount of Rs. 2000. I did not claim anything with ICICI Lombard hence i have not spoke with the customer. I'm not much aware of the features and benefits of the policy. I don't face any issue while purchasing the policy.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 11, 2018
    • review Two Wheeler Insurance
      "Very famous policy. "
      0.5 3.0/5 "Satisfactory"
      ICICI has very good name in the market. I have not claim anything still now. I have not called the customer care not even a single time. I don't remember about the IDV value. I have not aware of the premium amount whatever i have paid to this insurance. I'm much happy about the policy.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 11, 2018
    • review Two Wheeler Insurance
      "Need to improve the customer care"
      0.5 4.0/5 "Great!"
      I haven't purchase this policy by myself. From the showroom side they have provided this policy. I have not use the any of the benefits. Once i was trying to call the customer care, its too difficult to contact. They have given a call back after 2 days. I had very bad experience with customer care.,
      Was this review helpful? 0
      , new delhi
      Reviewed on Aug 11, 2018
    • review Two Wheeler Insurance
      "Need to improve the marketing visibility to the customer"
      0.5 3.5/5 "Pretty good"
      I had purchased the New India policy from the service department. I never used the policy. I have received the policy within a day. I have made the payment of Rs. 700. I did not know the benefits of the policy in details. I have purchased this policy with New India 2 years before. They are offered around Rs. 30000 as a claim amount.
      Was this review helpful? 0
      , new delhi
      Reviewed on Aug 11, 2018
    • review Two Wheeler Insurance
      "GOOD"
      0.5 4.5/5 "Excellent!"
      I am using it since last 9 years and the name of the policy is that the MONEY BACK and the tenuity period is for the 15 years and i get the 4 years once the money back from my policy and i get the 10-15% from my plan and it covers self only. I am satisfied with the policy.
      Was this review helpful? 0
      , nira
      Reviewed on Aug 09, 2018
    • review Two Wheeler Insurance
      "Need to reduce the premium amount"
      0.5 5.0/5 "Blown Away!"
      They are providing the cashless garages. They are giving a IDV value of Rs. 2 lakhs. I have purchased my two wheeler insurance policy with ICICI Lombard 7 months before. I have paid the premium amount of Rs. 1300 and i have not claimed anything through this policy. They are charging the premium like anything and I'm unhappy with it.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 09, 2018
    • review Two Wheeler Insurance
      "GOOD"
      0.5 3.0/5 "Satisfactory"
      Actually previously i have used with the ICICI LOMBARD GENERAL INSURANCE and currently i am not using this the reason is that there is no option available for the online process and also the premium is higher i have used for the 3 years. The policy covers for the 3rd party.
      Was this review helpful? 0
      , kolkata
      Reviewed on Aug 07, 2018
    • review Two Wheeler Insurance
      "Customer care has to be improved"
      0.5 4.5/5 "Excellent!"
      There is no follow up for the renewal of the policy. I have not claimed anything in any of the policy. I did not went anything any Extra. They are providing a very good IDV value. I have not called their customer care service. I have paid the premium amount of Rs. 1800. Its quite difficult to renew the policy from the website. I have taken the policy for continuous three years.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 06, 2018
    • review Two Wheeler Insurance
      "Good policy"
      0.5 3.5/5 "Pretty good"
      This year in the month of January, i have taken two wheeler policy with ICICI. I don't remember about the premium amount. They are providing only no claim bonus apart from that they are not providing anything. I did not claim till now. I did not speak with the customer care. I don't have any claim experience.
      Was this review helpful? 0
      , hubli
      Reviewed on Aug 06, 2018
    • review Two Wheeler Insurance
      "BEST"
      0.5 5.0/5 "Blown Away!"
      The IDV value of my policy is 23228 which is satisfactory to me. I have applied it through the on line and the process is very good. I had no claim. Policy coverage is satisfactory and the premium is good in my insurance this policy is easy for renewal and so i took this policy.
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 01, 2018
    • review Two Wheeler Insurance
      "Good policy"
      0.5 5.0/5 "Blown Away!"
      I had taken this two wheeler insurance policy with ICICI Lombard in the year of 2016. I have paid the premium amount of Rs. 3000 for one year. I don't remember about the benefits what they have provided to me. I have taken this policy through agent. I made the payment by cash. I don't have any claim experience still now.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Aug 01, 2018
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