ICICI Lombard Private Car

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ICICI Lombard add on

ICICI Lombard general insurance company ltd is a joint venture between ICICI Bank and Fairfax financial holding limited , a Canadian based USD 37 billion diversified financial services company .

ICICI Lombard was established in 2001 .

ICICI Bank has 64% stake and Fairfax has 35% .

ICICI Lombard general insurance is the largest general insurance company is India 

Zero Depreciation

In consideration of the payment of an additional premium by the Insured, it is hereby agreed and declared that notwithstanding anything to the contrary contained in the Policy, the Company hereby undertakes to deduct no amounts for depreciation in case of parts replaced on account of damage to the vehicle insured and/or to its accessories, arising out of any peril as covered under the Policy.
 Provided always that
 1. Such claim has been admitted by the Company under Section I – “Loss or Damage to the Vehicles Insured” of the Policy 
        
2. This add-on shall not be applicable in the event of Total Loss/ Constructive Total Loss of the vehicle insured under the Policy

3. Zero Depreciation add-on will be applicable only on the first two claims  per year of the policy tenure, subject to maximum of six claims for three  year policy tenure and maximum of four claims for two year policy tenure

4. The Insured shall be liable for the additional excess for each and every  claim payable under this add-on and will be applicable on the overall claim  amount. The additional excess will be as follows:



Consumable Expenses

It is hereby agreed and declared that notwithstanding anything to the contrary contained in the Policy the Company hereby extends the Policy to cover expenses Incurred by the Insured on the Consumable Items in the event of damage to the vehicle insured and/or to its accessories, arising out of any peril as covered under the policy. 

For the purpose of this endorsement, Consumable Items shall mean those articles or substances which have specific uses and when applied to their respective uses are either consumed totally or are rendered unit for continuous and permanent use. 

Such Consumable Items will include nut and bolt, screw, washers, grease, lubricants clip, ac gas, bearings, distilled water, engine oil, oil filter, fuel filter, break oil and the like. 

Claim under this add-on is serviced in the authorized garages of the Company.

The duration for which the Insured’s vehicle is under repair in a garage due to loss/damage to the vehicle, and for which the Company will be liable for claim in respect of this add-on will be reckoned from the day after the insured vehicle is delivered to the Garage till the day immediately preceding the date of discharge or date of invoice for such repair as prepared by the garage.

The company will not be liable for any further payment under this add-on for the specific accidental loss or damage once the vehicle is removed from the garage.

Company will not be liable for any delays on account of  a. Delay of more than 24 hours, in delivering insured vehicle to the garage from the time of occurrence of accidental damage or loss b. Non-availability of spare parts required for repair Subject otherwise to the terms, conditions and limitations of the Policy.

Engine Protect Plus



What is not Covered ?

  • Any claims where the subject matter of claims is covered under any other type of insurance policy with any other insurer or manufacturer’s warranty including recall campaign or under any other such packages at the same time. 
  • Cost of lubricants in case of loss due to leakage and flushing of consumables. 
  • Any claim which is intimated to the Company after 30 days of the happening of loss or damage. 
  • Any claim where the repair has been carried out without prior approval from the Company 
  • Any claims related to loss or damage due to wear and tear.

Return to Invoice

The Company pays the Sum Insured under this add-on, determined as the difference between the Insured’s Declared Value (IDV) of the insured vehicle and the total actual expenses incurred towards acquisition of a new vehicle of similar make and model to the insured, as specified in the on-road price listed by the manufacturer/Dealer upon the occurrence of Total Loss / Constructive Total Loss as defined in the Policy

Provided always that On-road price means the actual expense incurred towards acquisition of a new vehicle and includes the value of factory fitted accessories or car dealer accessories at the time of purchase. On road price will also include any amount paid towards registration of the insured Vehicle, road tax and cost of insuring the vehicle. 

In case of obsolete models, the last selling price of the vehicle will be considered to pay the Sum Insured under this add-on


*Return to Invoice is known by other names which is Invoice Price Cover, New Vehicle Replacement, Etc

NCB Protection

Insured shall not be entitled to any No Claim Bonus, if more than three claims are lodged by the Insured during the same Policy Period under Section I - “Loss or Damage to the Vehicles Insured” of the Policy



Key Replacement

  • Covers the cost to replace vehicle keys if the same are lost/stolen and locks and keys both if the vehicle is broken into
  • Break-in Protection – cover will reimburse the cost of replacing locks and keys if  Vehicle is broken into. Covered costs include the labor cost for replacing the lock. 
  • An official police report that confirms the incident happened within the period of insurance.

What is not Covered?
  • Any claim within the first 5 days of the happening of loss. However, in cases related to theft/burglary, this exclusion would not be applicable 

  • Any damage/ loss to keys/lock/lock set due to malicious activities, any deliberate or criminal act 

  • Any loss or damage to the lock or lock set prior to the loss or theft of keys 

  • Any loss or damage caused by radiation, radioactive contamination or the hazardous properties of any explosive, corrosive, invasive or toxic substance or material. 

  • Any loss or destruction of, or damage to, any part of the Insured’s vehicle other than the keys of the Insured’s vehicle, its associated lock, ignition system, any immobilizer, infra-red handset and/or alarm attached to the fob.

  • Loss or damage caused by war, invasion, foreign enemy hostilities (whether war is declared or not), civil war, terrorism, rebellion, revolution, military force or coup, or the actions of any lawful government or public or local authority. 

  • Any kind of consequential losses

  • Any loss or damage covered under the manufacturer’s warranty 

Any claim where the Insured is not able to provide the invoices/receipts for the payments made




Loss of Personal Belongings

Declared that notwithstanding anything to the contrary contained in the Policy, the Company hereby undertakes to indemnify the Insured, upto an amount as stated in the Schedule, for the loss of his personal belongings on account of damage to or theft from the Insured’s vehicle.

Provided always that: 
1.A deductible of Rs. 500 would be applicable for each claim under this add-on 
2. A First Investigation Report (FIR) is registered with the Police for such loss
3. The Company would not be liable for: 
  a)Any loss in open top or convertible cars unless the belongings are kept in the locked boot
  b)Any loss of money, securities, cheques , bank drafts, credit or debit cards, jewellery, gems, stones, contact lens, glasses, travel tickets, watches, laptops, mobiles, valuables, manuscripts, paintings, work of art. 
  c)Any loss of the personal belongings unless the Insured’s vehicle is locked and all doors & windows are properly fastened while unattended
  d)Any loss of or damage to belongings carried in connection with any trade or business 
  e)Any theft from vehicles parked in no-parking zone and from un-attended vehicle after accident 
  f)Any claim intimated to the Company after 30 days of such loss. 

Road Side Assistance

Towing on breakdown/accident:
In the event of the Insured’s vehicle being immobilized or rendered unfit for the purpose of driving on the road, the Company would provide appropriate towing services to the nearest garage (within a radius of 50 kms from the location of the breakdown/accident), provided always that any charges for a distance beyond the one mentioned herein shall be borne by the Insured. 

Breakdown support over phone:
In the event of minor mechanical errors/ faults/non-functioning of the Insured’s vehicle or any part thereof, the Company would provide the Insured with telephonic assistance to come up with solutions for such minor mechanical errors/faults/non-functioning of the Insured’s vehicle. 

Arrangement/ Supply of fuel:
In the event of the Insured’s vehicle being immobilized due to emptying of fuel tank, the Company would arrange for supply of up to five litres of fuel, at the location of the breakdown. Provided always that all labour costs and conveyance costs would be borne by the Company and all expenses on fuel would be borne by the Insured. 

Emptying of fuel tank: 
In the event of the fuel tank of the Insured’s vehicle being filled with a wrong type of fuel, the Company would arrange for emptying of fuel tank with the help of appropriate technicians and if required, arrange for towing the Insured’s vehicle to nearest garage for the purpose of emptying the fuel tank, provided always that all charges towards the towing of the vehicle would be borne by the Insured. 

Battery jump start:
In the event of the Insured’s vehicle being immobilized due to a run down battery, the Company would arrange for a vehicle technician to jump start the Insured’s vehicle with appropriate means. Provided always that any cost of charging/replacement of battery would be borne by the Insured and all labour and conveyance costs, towards battery jump start assistance, would be borne by the Company. 

Message Relay:
In the event of the Insured’s vehicle getting immobilized as a result of an accident and/or breakdown, the Company would arrange to send urgent message to the specified persons, as requested by the Insured, through available means of communication. 

Flat Tyre:
If the tire(s) has (have) a puncture which immobilizes the vehicle, we can send you a mechanic that can help you replace the punctured tyre, provided that the driver does have a spare tyre in a shape of order. If more than one tyre is punctured, while there is only one spare tyre per vehicle, the immobilization may be necessary by the time the tires are being repaired or replaced at the drivers’ expenses at the workshop. 

Minor Repairs:
In the event of the Insured’s vehicle being immobilized due to a minor mechanical/electrical fault, the Company would assist the Insured by sending a vehicle technician to the location of breakdown to carry out the Minor Repairs. Provided always that 
a)the expenses on labour cost and conveyance cost would be borne by the Company 
b)Minor Repairs, for the purpose of this add-on, would be defined as repairs which can be carried out at the location of breakdown/accident, requiring no spares and less than 45 minutes of labour time. 

Arrangement of rental vehicle:
In the event of the Insured’s vehicle being immobilized due to a breakdown/accident, the Company would facilitate arrangement for alternative mode of conveyance, from the place of breakdown /accident, to the destination, as desired by the Insured at the time of breakdown/ accident. The Company would intimate the Insured of all charges payable to the rental vehicle and all such charges would be borne by the Insured.


Arrangement of Accommodation:
In the event of the Insured’s vehicle being immobilized due to a breakdown/accident, the Company would facilitate arrangement for hotel accommodation in a place near the place of breakdown /accident. The Company would intimate the Insured of all charges payable for such accommodation and all such charges would be borne by the Insured. 

Arrangement of rental vehicle:
In the event of the Insured’s vehicle being immobilized due to a breakdown/accident, the Company would facilitate arrangement for alternative mode of conveyance, from the place of breakdown /accident, to the destination, as desired by the Insured at the time of breakdown/ accident. The Company would intimate the Insured of all charges payable to the rental vehicle and all such charges would be borne by the Insured.


Arrangement of Accommodation:
In the event of the Insured’s vehicle being immobilized due to a breakdown/accident, the Company would facilitate arrangement for hotel accommodation in a place near the place of breakdown /accident. The Company would intimate the Insured of all charges payable for such accommodation and all such charges would be borne by the Insured. 

Accommodation Benefits:
In the event of the Insured’s vehicle being immobilized due to a an accident/ breakdown, the Company shall provide occupants of the Insured vehicle with a hotel accommodation for one day, for a maximum of ` 5000. Provided always that: 
a)The breakdown/accident has taken place at least 100 kms away from the Insured’s place of residence, as declared by the Insured at the time of Policy issuance.
b)The required time of repair of the Insured vehicle exceeds 12 hours from the time of the accident / breakdown. 
c)The number of individuals seated in the Insured vehicle is not more than the maximum seating capacity of the Insured vehicle. 

Referring a Hospital:
In the event of an accident involving the Insured’s vehicle as a result of which the Insured and/or any of the travelling passengers requires medical care, the Company would arrange for the Insured the telephonic contact details of an appropriate hospital near the location of accident. Provided always that the breakdown/accident has taken place atleast 50 kms away from the Insured’s place of residence, as per the address declared by the Insured at the time of Policy issuance.

Taxi Benefits: 
In the event of the Insured’s vehicle being immobilized due to an accident/ breakdown, the Company shall provide free travel of the occupants of the Insured vehicles upto a distance of 50 kilometres. 
Provided always that: 
a)The event has occurred 50kms away from the Insured’s place of residence as declared by the Insured at the time of policy issuance. 
b)Any charges for a distance beyond the covered distance as stated above shall be borne by the Insured. 
In the unlikely event of the Company being unable to arrange for this service, the Company may request the Insured to arrange for the taxi on his own and submit the bill for the pre - authorized amount for reimbursement to the Company.

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