• ICICI Lombard Two Wheeler Insurance - Compare and Renew Policy Online

    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 General Insurance offers customers the option to choose either of the two products mentioned below:

    • 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.
    • Third-Party Liability Only Two-Wheeler Policy -

      This policy provides protection against third-party liability. These policies also offer an own damage cover to the policyholder/rider of the vehicle. However, no own damage cover is offered to the policyholder.

    Comprehensive Two Wheeler Insurance

    The ICICI Lombard comprehensive two 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 a personal accident cover. Apart from this, third-party legal liability in covered for accidents that cause permanent injury or death of a third party or damage to a third party’s property. Additional add-on covers can be chosen by paying an additional premium.

    Features of Comprehensive Two Wheeler Insurance Policies

    Items Coverage provided
    Benefits
    • 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

    Third-Party Liability Only Bike Insurance

    Liability only two wheeler insurance is compulsory by law and this only covers third-party liability. Third-party liability insurance policies also provide a personal accident cover to the ride of the vehicle.

    Coverage of Liability Only Two wheeler Insurance

    Benefits
    • Policy can be purchased online
    • Third-party liability insurance policies are less expensive when compared to comprehensive two-wheeler insurance policies
    Inclusions
    • Accidental death/bodily injuries caused to a third party
    • Damage to a third party’s assets or property
    Exclusions
    • Damages caused to your vehicle due to natural calamities
    • Damages caused to your vehicle due to unforeseen man-made events

    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 - Towing services will be provided if your two-wheeler is immobilised as a result of a breakdown or accident.
    • Cashless claim network - ICICI Lombard has a huge network of empanelled cashless claim networks across the country. 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.

    Inclusions and Exclusions In Two Wheeler Insurance

    Inclusions Exclusions
    Loss or damage caused due to:
    • Fire, explosion, or self-ignition
    • Natural calamities such as floods, storms, landslides, earthquakes, rockslides, hurricanes, lightning
    (*Note: Applicable to comprehensive two-wheeler insurance policies)
    Using the vehicle contrary to the mandated instructions, contractual liability, consequential loss
    Loss due to theft, robbery, and other manmade calamities such as strike, riots, terrorist activities, accidental external damage (*Note: Applicable to comprehensive two-wheeler insurance policies) Accident due to intoxication
    Damage caused due to travel by road, air, elevator, inland waterway (*Note: Applicable to comprehensive two-wheeler insurance policies) Damage due to own negligence
    Third-party liability in cases of injury or death of a third party or damage to a third party’s assets Mechanical or electrical breakdown
    Personal accident cover Loss due to nuclear risks
    War related risks
    If used/driven outside geographical area

    There are two types of tenures that one can choose when it comes to two wheeler insurance: a long-term policy and a short-term policy. Typically, a short-term insurance policy has a tenure of one year. 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 features and discounts and most importantly, you need not go through the hassle of renewing the policy every year.

    Long-Term Two Wheeler 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. The policyholder can also benefit from attractive discounts offered by the insurance company under this option. 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 starting from 1 April 2018. Below are the new rates applicable to two wheelers:

    Type of Vehicle Third-Party Insurance Premium Rates
    Two-wheelers with engine capacity lower than 75cc Rs.427
    Two-wheelers with engine capacity lower than 150cc Rs.720
    Two-wheelers with engine capacity exceeding 150cc but lower than 350 cc Rs.985
    Two-wheelers with engine capacity exceeding 350cc Rs.2,323

    Add-On Covers Offered by ICICI Lombard General Insurance

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

    • Cover for 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 Cover- Protection will be provided to the bike’s bi-fuel kit and coverage will be provided in case of any damage.
    • Zero Depreciation Cover-With this add-on, any losses that you might incur due to depreciation will be waived off by the insurance company. Thus, if you raise a claim, you will receive the complete settlement amount.

    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 settlement.

    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 with a two 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 the repair will be covered by the insurance policy subject to certain 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 the Expiry of Your Bike Insurance Policy?

    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. The insurance provider might send a surveyor to get your vehicle surveyed. Sometimes, if the policy has lapsed for a long duration, then you may have to 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
    • Make sure to only opt for the add-ons that you really require. Given that you will have to pay an additional premium for add-ons, you

    Given that all two-wheeler owners are required to have at least a third-party liability insurance policy, you should do your research, compare.

    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.

    FAQs On ICICI Lombard Two Wheeler Insurance

    1.What are the various factors that determine the premium quote of a two-wheeler insurance policy?

    Some of the key factors that determine the premium rate of a comprehensive two-wheeler insurance policy include the type of policy purchased, age of the two-wheeler, the Insured Declared Value (IDV) of the two-wheeler, place at which the two-wheeler has been registered, type of vehicle, policy term, No Claim Bonus, choice of add-ons, etc. The premium payable for a third-party liability insurance policy is decided by the Insurance Regulatory and Development Authority of India (IRDAI) based on the cubic capacity of the vehicle’s engine.

    2.Are pillion riders also covered under a two-wheeler insurance policy?

    No, a pillion rider will not be provided coverage under your two-wheeler insurance policy. However, you can choose to purchase the Personal Accident Add-On for Co-Passengers to extend coverage to the pillion rider.

    3.How is the Insured Declared Value or IDV determined by insurers?

    To arrive at the Insured Declared Value, insurance companies determine the selling price of the two-wheeler and then adjust this sum for depreciation.

    4.What are cashless garages?

    Cashless garages are those garages that have partnered with insurance companies to provide cashless services to policyholders. If you are getting your vehicle serviced at a cashless garage, your insurer will bear the cost of the repair, subject to certain terms and conditions.

    5.Is it mandatory to purchase two-wheeler insurance?

    Yes, the Motor Vehicles Act, 1988 requires all vehicle owners to purchase at least a third-party liability insurance policy, if not a two-wheeler insurance policy that also provides an own damage cover.

    *The customer reviews/feedback/opinions expressed on this website are solely of their authors and do not reflect, in any way, the view of BankBazaar Insurance.

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    Two Wheeler Insurance Reviews

    • review Two Wheeler Insurance
      "AVERAGE"
      0.5 2.0/5 "Expected more"
      I am not satisfied with the services of the ICICI LOMBARD GENERAL INSURANCE where i have used it for one years as a two wheeler insurance policy. The premium is nominal when compared to the other policies added on that the IDV value is satisfactory with this policy.
      Was this review helpful? 1
      , new delhi
      Reviewed on Jan 30, 2019
    • review Two Wheeler Insurance
      "GOOD POLICY"
      0.5 4.0/5 "Great!"
      It is the first insurance where i have purchased along with the two wheeler. I had no claim experience but the premium is higher when compared to the others and the IDV value is also higher than others. The policy coverage is for full with this policy.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 29, 2019
    • review Two Wheeler Insurance
      "GOOD"
      0.5 4.0/5 "Great!"
      I have used the two wheeler insurance policy with the ICICI LOMBARD GENERAL INSURANCE for the two wheeler for one year as i have no claim experience with this policy. The premium and the IDV value is satisfactory with this policy. The policy coverage is for 3rd party with this policy.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 27, 2019
    • review Two Wheeler Insurance
      "GOOD"
      0.5 4.0/5 "Great!"
      I have used the two wheeler insurance policy with the ICICI LOMBARD GENERAL INSURANCE for one year. I had no claim experience with this policy also added on that the premium and the IDV value is satisfactory with this insurance policy. The policy coverage is for basic.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 25, 2019
    • review Two Wheeler Insurance
      "GOOD"
      0.5 4.0/5 "Great!"
      I have previously used the two wheeler insurance policy with the ICICI LOMBARD GENERAL INSURANCE where i have taken this policy along with my two wheeler in the showroom. The premium i slower than others also the IDV is good. I had no claim experience with this policy.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jan 25, 2019
    • review Two Wheeler Insurance
      "AVERAGE"
      0.5 3.0/5 "Satisfactory"
      I have previously used the two wheeler insurance policy with the ICICI LOMBARD GENERAL INSURANCE for two wheeler where i have not experienced with any claim with this insurance policy. Premium and the IDV value is satisfactory also they have offered the policy coverage is for basic.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 25, 2019
    • review Two Wheeler Insurance
      "AVERAGE"
      0.5 3.0/5 "Satisfactory"
      i have used the two wheeler insurance policy with the ICICI LOMBARD GENERAL INSURANCE where i have used it for 3-4 years approximately. i had no claim experience with this insurance policy but the policy coverage is for full with this policy.
      Was this review helpful? 0
      , pune
      Reviewed on Jan 22, 2019
    • review Two Wheeler Insurance
      "BETTER"
      0.5 5.0/5 "Blown Away!"
      I have used the two wheeler insurance policy with the ICICI LOMBARD GENERAL INSURANCE for three years but i have faced no issues with this policy and also i had no claim. The premium and the IDV value is satisfactory with this policy. The policy coverage is for full.
      Was this review helpful? 0
      , kanpur
      Reviewed on Jan 21, 2019
    • review Two Wheeler Insurance
      "GOOD"
      0.5 4.0/5 "Great!"
      I have previously used the two wheeler insurance policy with the Icici Lombard General Insurance and i have used it for past 2 years. I had no claim experience with this insurance policy. The premium and the IDV value is satisfactory with this policy.
      Was this review helpful? 1
      , new panvel
      Reviewed on Jan 19, 2019
    • review Two Wheeler Insurance
      "GOOD"
      0.5 4.0/5 "Great!"
      I had no claim experience with this policy where i have taken the two wheeler policy with the ICICI LOMBARD GENERAL INSURANCE and i have been using it since from last two years. The premium and the IDV value is satisfactory with this policy but i ma not aware of the coverage.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 16, 2019
    • review Two Wheeler Insurance
      "AVERAGE"
      0.5 3.0/5 "Satisfactory"
      I have previously used the two wheeler insurance policy with the ICICI LOMBARD GENERAL INSURANCE as the policy is very good but it is with higher premium when compared to the others. I have used it for one year but the option =s and benefits are not satisfactory with this policy.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 16, 2019
    • review Two Wheeler Insurance
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      The premium is lower with the ICICI LOMBARD GENERAL INSURANCE so i have taken the two wheeler insurance policy with this portal as i have used it previously with this policy. I have not experienced with claim with this policy added on that the policy coverage is for full.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Jan 16, 2019
    • review Two Wheeler Insurance
      "GOOD"
      0.5 3.0/5 "Satisfactory"
      I have experience with the ICICI LOMBARD GENERAL INSURANCE since from last 6 years because i have taken the two wheeler insurance policy with this. The premium is nominal as per that they have offered the IDV value which is satisfactory with this policy.
      Was this review helpful? 1
      , guntur
      Reviewed on Jan 16, 2019
    • review Two Wheeler Insurance
      "GOOD"
      0.5 4.0/5 "Great!"
      I have been using the two wheeler policy with the ICICI LOMBARD GENERAL INSURANCE from last 2-3 months as the process of getting the policy is good and simple. I am not aware of the policy coverage with this insurance policy. The premium and the IDV value is good.
      Was this review helpful? 0
      , peddapalli
      Reviewed on Jan 14, 2019
    • review Two Wheeler Insurance
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      ICICI LOMBARD GENERAL INSURANCE is the insurance provider where i have taken the two wheeler insurance policy with this and i have been using it since from last few years. The policy coverage is for comprehensive added on that the premium is nominal and the IDV value is good.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 12, 2019
    • review Two Wheeler Insurance
      "GOOD"
      0.5 4.0/5 "Great!"
      I have previously used the ICICI LOMBARD GENERAL INSURANCE as the two wheeler insurance policy with this policy for one years but i have not experienced with any claim with this policy. The premium and the IDV value is satisfactory with this policy.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jan 11, 2019
    • review Two Wheeler Insurance
      "GOOD"
      0.5 2.0/5 "Expected more"
      I have used the two wheeler policy with the Icici Lombard General Insurance where i have used it more than 12 years as the policy is good to access but i had no claim experience with this insurance policy. They have offered the policy coverage which is comprehensive.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jan 11, 2019
    • review Two Wheeler Insurance
      "GOOD"
      0.5 3.0/5 "Satisfactory"
      I am not satisfied with the two wheeler policy where i have taken this from the ICICI LOMBARD GENERAL INSURANCE because the premium is higher with this policy i have used this for one years, but i had no claim experience with this policy. IDV value is very good.
      Was this review helpful? 0
      , anantapur
      Reviewed on Jan 06, 2019
    • review Two Wheeler Insurance
      "GOOD"
      0.5 4.0/5 "Great!"
      I had no claim experience with this policy where i have the two wheeler policy with the ICICI LOMBARD GENERAL INSURANCE but i have used this for more than 2-3 years approximately. The premium and the IDV value is satisfactory. Coverage is for fully insured.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jan 06, 2019
    • review Two Wheeler Insurance
      "GOOD"
      0.5 4.5/5 "Excellent!"
      I have used the two wheeler policy with the ICICI LOMBARD GENERAL INSURANCE where i have paid the premium for this policy it is higher than others. I have not experienced with claim with this policy. I have used this policy for one year it is good to use.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 06, 2019
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