The most bought insurance in today’s time apart from health and medical insurance is vehicle insurance. The number of bikes that run on the roads in India clearly outnumber any other form of transportation that exists.
Bike insurance is something that has been made necessary in many states and ICICI Lombard Bike Insurance is the best plan to go for.
Bike insurance is something that has been made necessary in many states and ICICI Lombard Bike Insurance is the best plan to go for.
Many customers agree that the perks of buying from ICICI Lombard bike insurance include seven main benefits. The insurance once bought runs for a long time and can be renewed from time to time to avail or discount and make the insurance last a lifetime.
Apart from this, the policyholder has a choice of the amount of time in which he/she wants to have a policy. These generally include 1, 2 or 3 years. The policy offers a protective shield that helps out an individual financially in times of emergencies and crisis.
ICICI Lombard bike insurance itself has around 2150+ garage networks across the country that help customers in times of emergency and provides assistance all the time. Additional benefits from long term and not claiming one’s policy gives a person discounts and benefits. The No Claim Bonus (NCB) is applicable if a person has not claimed their policy for more than one year.
The renewal of ICICI Lombard Bike Insurance can be done easily. No vehicular inspection will be done even if the insurance policy expires. The greatest benefit of this policy is that it not only secures the policyholder, but it also secures the co-passengers who are riding with the policyholder, keeping them secure.
The ICICI Lombard bike insurance covers for the loss or damage that is done to a vehicle against natural calamities such as fire, explosion, flood, typhoon, hurricanes, storm, cyclone, frost etc. It also covers for the damage that is made through man-made calamities such as theft, riot, strike, burglary or any damage by road, rail, inland waterway. The policy also pays Rs. 2 Lakhs for personal accident cover. Additional accident cover for co-passengers is also covered in certain policies.
The most important, in accordance with the Law of India, it is mandatory for all two-wheeler insurances to include third party legal liability as a feature in their contract. This protects a person from legal liability due to accidental covers that may result in permanent damage or even death of a person, also covered by ICICI Lombard Bike Insurance.
ICICI Lombard Bike Insurance Exclusions
ICICI Lombard bike insurance does not cover the normal wear a tear that a vehicle goes through due to constant usage. It does not cover any loss or damage that is done to the vehicle when the driver does not have a valid license or when the driver is under the influence of intoxicants or drugs. Another exclusion is the loss or damage that is done as a result of the war, mutiny or nuclear risk.
ICICI Lombard Bike Insurance plans have one of the fastest claims processes among other insurance plans. There are a number of steps that a policyholder needs to go through for getting their claims. Firstly, there are two types of ways in which a person can get their claim. The first method is by taking the vehicle to an authorized garage and getting the repairs done free of cost. The other method is to pay for the repairs in another garage and ask for reimbursement from the insurance company.
Both the above methods require the policyholder to call the insurance company and letting them know that they want their claims process to go forward because of a certain unforeseen accident. The claims company will register the claim and get back to the policyholder within 24 hours. The policyholder will also get a registration number for further references.
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The vehicle is then inspected by a surveyor who submits a report to the company about the total amount of money that is needed for fixing the vehicle. The company repairs the vehicle according to the surveyor’s report and hands back the fixed vehicle to the policyholder. This is in the case of repairs taking place in an authorized garage.
In the other case, the policyholder needs to submit required documents stating the amount of damage that is done to the vehicle and the total cost involved with it, this includes medical bills and third party liability also. Overall, the claims process for ICICI Lombard bike insurance is extremely fast.
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