Why Vehicle Insurance ?
Vehicle insurance or motor insurance is meant for cars, two-wheelers and other road vehicles. A motor package policy protects the insured vehicle against the damages caused due to accidents and natural disasters. In addition to vehicle damage, motor vehicle insurance provides mandatory coverage for third-party liabilities. Comprehensive vehicle insurance allows for worry-free drives by curbing your vehicle repair expenses and helping you adhere to the law on the road
Types of vehicle insurance coverage in India
Comprehensive motor insurance:
A comprehensive vehicle insurance policy provides coverage against third-party legal liabilities and losses or damages to the insured vehicle during an accident or mishap. It covers the vehicle against natural and man-made disasters, including road accidents, fire, theft, earthquake, storm, flood etc.
Standalone OD cover:
Introduced by the IRDAI, the standalone Own Damage (OD) cover policies allow vehicle owners to get coverage against the losses or damages caused to their vehicle due to natural or man-made disasters. This type of policy can be purchased by those with third-party cover from a separate or the same insurer.
Third-party motor insurance:
Third-party motor insurance is mandatory in India as per the law. It protects the policyholder against legal liabilities from an accident involving their vehicle. If an insured vehicle causes bodily injuries, death or property damage to a third party, the insurer will take care of the legal liability.
Adherence to law
It is mandatory by law to avail of third-party insurance for all vehicles before they are allowed on the road.
Escape traffic fines
Per the Motor Vehicles (Amended) Act of 2019, if you're caught driving an uninsured vehicle, you may have to pay a penalty of up to ₹2000 for the first instance, and from the second instance, it may go up to ₹4000
Coverage against loss or damage
A motor package policy takes care of your expenses in case any loss or damage to your vehicle arises due to theft, road accident or other natural and man-made disasters.
Personal accident cover
You will get a personal accident cover of ₹15 lakhs for yourself and an optional cover of ₹2 lakhs for the co-passengers travelling with you. This coverage is available at a nominal additional premium.
Benefits of buying vehicle insurance online
Instant vehicle insurance policy
All you have to do is- submit your vehicle details and contact information, choose the cover that suits your needs and make payment. You’ll receive your ICICI Lombard motor insurance policy in your inbox immediately
Zero paperwork
Go paperless with online vehicle insurance and say goodbye to scrambling through documents. All you need is a device with internet connectivity.
Buy anything, anywhere.
Is the branch too far away? Get free only late at night? You can find out about our policies and buy motor vehicle insurance online anytime from the comfort of your home.
Review customer feedback
It’s much easier to find important information about any insurance provider online. You can read what other customers say about their policies on their website.
Easy Comparison
Another benefit of buying vehicle insurance online is you can compare multiple covers. Submit your vehicle details, get a quote from us, evaluate the policy based on coverage, features and add-ons, and pick a motor insurance cover from ICICI Lombard.
