ICICI Lombard Two Wheeler

Quote on
Request

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:



Garage Cash

In consideration of the payment of an additional premium of Rs.X by the Insured, it is hereby agreed and declared that notwithstanding anything to the contrary contained in the Policy, the Company hereby undertakes to : 

        a. Pay a daily allowance, as stated in the schedule, to the Insured for each and every completed day for which the Insured’s vehicle is under repair in a garage, due to loss/damage to the vehicle on account of a peril covered under the Policy, subject to the maximum number of days as specified in the schedule
       
        b. Pay the lump-sum amount as stated in the schedule, in the event of Total loss/ Constructive Total Loss of the Insured’s vehicle 

Provided always that:
1. Such claim is admitted by the Company under Section I - “Loss or Damage  to the Vehicles Insured” of the Policy
2. The insured vehicle has been under repair for a minimum number of days, as stated in the schedule, post which the claim under this add-on will be  payable from the day such vehicle was delivered to the garage
3. In case of theft of the vehicle, the vehicle is not recovered within 90 days    from the day of the theft.
4. Not more than three claims will be payable under this add-on
5. Claim under this add-on is intimated to the Company within 24 hours of loss or damage 6. Claim under this add-on is serviced in the authorized garages of the Company
6. 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, whichever is earlier.   
i) 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.

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



Return to Invoice

In consideration of payment of an additional premium of Rs.X by  the Insured, it is hereby agreed and declared that notwithstanding anything to the contrary contained in the Policy, the Company hereby undertakes to pay the Sum Insured under this add-on, determined as the difference between the Insured’s Declared Value (IDV) of the insured vehicle and the Purchase Invoice Price of the insured vehicle, as specified in the purchase invoice upon the occurrence of any Total Loss / Constructive Total Loss as defined in the Policy.

Provided always that 
1) Purchase Invoice Price means the ex- showroom price of the insured vehicle and includes the value of factory or car dealer accessories that were fitted at the time of purchase but excludes any insurance premium. Purchase Invoice Price will also include any amounts paid towards  registration of the insured Vehicle and road tax subject to a maximum 10% of ex-showroom price. In case a copy of the Purchase Invoice is not available, the Purchase Invoice Price of the vehicle will be calculated as below:

Return to Invoice

In consideration of payment of an additional premium of Rs.X by  the Insured, it is hereby agreed and declared that notwithstanding anything to the contrary contained in the Policy, the Company hereby undertakes to pay the Sum Insured under this add-on, determined as the difference between the Insured’s Declared Value (IDV) of the insured vehicle and the Purchase Invoice Price of the insured vehicle, as specified in the purchase invoice upon the occurrence of any Total Loss / Constructive Total Loss as defined in the Policy.

Provided always that 
1) Purchase Invoice Price means the ex- showroom price of the insured vehicle and includes the value of factory or car dealer accessories that were fitted at the time of purchase but excludes any insurance premium. Purchase Invoice Price will also include any amounts paid towards  registration of the insured Vehicle and road tax subject to a maximum 10% of ex-showroom price. In case a copy of the Purchase Invoice is not available, the Purchase Invoice Price of the vehicle will be calculated as below:






Enquiry

Download