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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
      "Best customer care"
      0.5 4.0/5 "Great!"
      Since I'm a existing customer of ICICI bank customer, hence they used to provide a proper service to me. I have taken a two years tenure plan. They have given a 50% no claim bonus. They have given a discount also for my policy. I was checking with ICICI people regarding the two wheeler insurance and they have suggested me to take this policy.
      Was this review helpful? 0
      , guntur
      Reviewed on Oct 14, 2018
    • review Two Wheeler Insurance
      "Yet to experience the policy"
      0.5 5.0/5 "Blown Away!"
      In the month of June, I have purchased my new two wheeler. I never contacted the customer care because i wont take the bike most of the times. The showroom people has provided this policy when i purchase the bike. I have made a premium amount of Rs. 4000 approximately. This is a zero depreciation policy for two years and all the parts covered in this policy. I have to pay the nominal charge for applying the claim.
      Was this review helpful? 0
      , delhi
      Reviewed on Oct 11, 2018
    • review Two Wheeler Insurance
      "Good Experience and customer friendly"
      0.5 4.0/5 "Great!"
      For bike insurance, the policy cost is moderate. I have good experience with ICICI lombard, I don't have any trouble. I took policy for my wife scooty, few years back it got hit on bike in that case almost 35% of scooty got damage, because of its almost plastic parts. At the time I used the policy and got cash less service to change the vehicle parts.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Oct 11, 2018
    • review Two Wheeler Insurance
      "Good service"
      0.5 4.0/5 "Great!"
      I just bought the two wheeler insurance policy from ICICI Lombard in the showroom outlets. I didn't contact the customer care service. In the month of August, i have purchased this policy. I'm happy about the coverage amount. My dealer has provided this policy from this company and I'm just renewing the policy every year.
      Was this review helpful? 1
      , chennai
      Reviewed on Oct 10, 2018
    • review Two Wheeler Insurance
      "Good policy"
      0.5 4.0/5 "Great!"
      The ICICI Lombard premium is bit high with the same benefits when i compared with other companies. 2 years ago i have taken this two wheeler insurance. The showroom has recommended me to go with the policy from ICICI Lombard. The IDV value was given less from this company.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Oct 09, 2018
    • review Two Wheeler Insurance
      "Good policy"
      0.5 4.0/5 "Great!"
      The premium amount was costly since i moved to other company. I have not avail the customer care services. I have used the policy for one year with ICICI Lombard. They have offered me a satisfied coverage amount. I have no claim experience as of now.
      Was this review helpful? 0
      , kolkata
      Reviewed on Oct 09, 2018
    • review Two Wheeler Insurance
      "Good one"
      0.5 4.0/5 "Great!"
      The policy is got expired and i have received any reminder call for renewing the policy. The price is bit high thats the reason i have moved to other company. I have made a premium amount of Rs. 1400. I have been renewing the policy from last 6 years. I had never apply any claim. The price is high when i compared with other companies.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Oct 09, 2018
    • review Two Wheeler Insurance
      "Need lot of improvement and has to cover entire parts"
      0.5 2.0/5 "Expected more"
      ICICI Lombard two wheeler insurance does not cover for plastic, fiber glass etc. Last year taken this policy but when my front mudguard got damaged they didn't give claim. Hence I paid and repaired it. Because they are mainly focusing on tank, handle only. It would great if they give 100% of cover.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 09, 2018
    • review Two Wheeler Insurance
      "Its better company"
      0.5 3.0/5 "Satisfactory"
      Recently I taken two wheeler insurance from ICICI Lombard, my showroom dealer have suggested and gave me the third party cover for damage, injury etc. I have Honda activa they gave me the best IDV and also it has good brand value across all over in India.
      Was this review helpful? 0
      , vadodara
      Reviewed on Oct 09, 2018
    • review Two Wheeler Insurance
      "Good Customer Service"
      0.5 4.0/5 "Great!"
      As per the market the premium is good in ICICI Lombard and they offered me non claim bonus on next year of renewal. They used to respond very well whenever I reach them for any queries. but this time I was looking for cheaper premium than ICICI, hence I didn't go with them for renewal.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 05, 2018
    • review Two Wheeler Insurance
      "Easy digital process"
      0.5 4.0/5 "Great!"
      I approached them ICICI lombard through online, I had taken two insurance at the moment it was best. For mandatory purpose I had taken bike policy with them. ICICI lombard has 24 hours service, third party liability and other cover. I recommend them because they have easy online renewal option.
      Was this review helpful? 0
      , devakottai
      Reviewed on Oct 05, 2018
    • review Two Wheeler Insurance
      "Hassle Free policy"
      0.5 5.0/5 "Blown Away!"
      While i have purchasing the policy the dealer has provided the policy with ICICI Lombard hence I'm renewing the policy with the same policy. This is the only company who is providing a premium for 3 years. I have made a premium amount of Rs. 2000 for 3 years. I'm not sure about the coverage amount. This is a first party comprehensive policy. I do not face any issue with the policy.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 04, 2018
    • review Two Wheeler Insurance
      "Their customer care service is good"
      0.5 5.0/5 "Blown Away!"
      ICICI Lombard is doing a great job and their service is fantastic. I have been using the ICICI Lombard policy for 3 years i have continuing the policy with the same company. From the dealer i have purchased this policy. I have made a premium amount of Rs. 2500 nearly. While i'm purchasing the policy, they have given this insurance policy to me.
      Was this review helpful? 0
      , ramanathapuram
      Reviewed on Oct 04, 2018
    • review Two Wheeler Insurance
      "Decent one"
      0.5 4.0/5 "Great!"
      I had a claim experience and the dealer has done all the things hence i did not care about the claim. That was a one year usage of ICICI Lombard. While I'm purchasing the bike, the service center has provided the policy. I made the premium amount of around Rs. 2000. I'm not aware of the coverage amount. Within 2 week, i have got my two wheeler. I applied the claim amount of Rs. 4000.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 04, 2018
    • review Two Wheeler Insurance
      "Its Good"
      0.5 4.0/5 "Great!"
      I don't have any problem with ICICI Lombard general insurance, last time I had bike insurance with them. I got better premium and better coverage. However I have taken one bike insurance for law and regulation purpose. Anyway my experience went well with them.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 04, 2018
    • review Two Wheeler Insurance
      "Looking for better service"
      0.5 3.0/5 "Satisfactory"
      I called to the ICICI Lombard customer service to renew my two wheeler insurance policy, but they didn't respond me back. Hence I switched over to other insurance company, the premium is good. the coverage value is also nominal as per the market. But their service should be improved.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 03, 2018
    • review Two Wheeler Insurance
      "Looking for better premium"
      0.5 4.0/5 "Great!"
      I didn't buy bike policy through online, I purchased the policy through the dealer they collected higher premium for one year coverage. However features are same, hence it would be better if they are competitive in the market.
      Was this review helpful? 0
      , saran
      Reviewed on Oct 03, 2018
    • review Two Wheeler Insurance
      "Premium should be competative"
      0.5 4.0/5 "Great!"
      I got ICICI lombard insurance from the showroom dealer, Its been two year I didn't made any claim. I felt ICICI Lombard premium is higher than the market value. It would be great if the premium is economical other than that everything is good.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 03, 2018
    • review Two Wheeler Insurance
      "Payment options has to be improved"
      0.5 3.5/5 "Pretty good"
      Online payment could not be made in ICICI Lombard. I face a issue while renrewing the policy through online. I have called the customer care regarding my issue, their response was prompt in ICICI Lombard. The premium amount bit high compared to others.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 03, 2018
    • review Two Wheeler Insurance
      "Needs to be familiar"
      0.5 5.0/5 "Blown Away!"
      ICICI Lombard is not much familiar in terms of coverage, But I felt Bajaj Allianz is reputed insurance company. Therefore I didn't go for the renewal with ICICI Lombard, earlier when I had policy with them, I felt the service is okay which was used by my friend.
      Was this review helpful? 0
      , tuticorin
      Reviewed on Oct 03, 2018
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