Motor Vehicle Insurance

Vehicle insurance (also known as auto insurance, GAP insurance, Car insurance, or motor insurance) is insurance purchased for cars, trucks,motorcycles, and other road vehicles. Its primary use is to provide financial protection against physical damage and/or bodily injury resulting from traffic collisions and against liability that could also arise therefrom.

ICICI Lombard GIC Ltd. is the largest private sector general insurance company in India. The company issued over 56 lakh policies and settled over 81 lakh claims. The company has a network of 315 branches as on March 31, 2011. ICICI Lombard is a 74:26 Joint venture between ICICI Bank Ltd & Fairfax financial Holdings Limited

ICICI LOMBARD
Its expertise lies in providing retail insurance products

including Car Insurance, Health Insurance, Travel Insurance, Two Wheeler Insurance and Home Insurance.
ICICI Lombard allows instant policy issuance and

renewal through its website www.icicilombard.com

AWARDS WON BY ICICI LOMBARD

NDTV Profit Business Leadership Award 2007
Most Preferred General Insurance Brand award for the

year 2010 by CNBC AWAAZ It also received the Golden Peacock Innovation Award-2010 for Rashtriya Swasthya Bima Yojana. General Insurance Company of the Year at the 11th Asia Insurance Industry Awards Rated highest in customer satisfaction by J.D. Power Asia Pacific in India

Types of Automobile Insurance in India

Two Wheeler Insurance
Car Insurance

Commercial Vehicle Insurance

Procedure for Four Wheeler InsuranceREGISTRATION DETAILS

1.

First purchase or registration details

2. Current registration type

VEHICLE DETAILS
Manufacturer 2. Model 3. Showroom price
1.

CONTACT DETAILS Name of Insured Address Phone no. Email Id Valid Proof Get protection for accessories or not?

KEY FEATURES
A digitally signed policy is issued immediately through our online facility. Access to over 2700+ network garages for cashless claims servicing across India. Optional Personal Accident cover for co-passengers Avail NCB on renewals if no claim is made during the previous policy period. Transfer all No Claim Bonus (NCB) benefits when shifting your motor insurance policy to ICICI Lombard. 5% discount for recognised Automobile Associations Members. 2.5% discount for ARAI approved anti theft device in your vehicle. Avail add-on covers for electrical and non-electrical items. Buy Online.

SUM INSURED AND COVERAGE

What is covered Loss or Damage to your vehicle against Natural Calamities Fire, explosion, self-ignition or lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide, rockslide. What is not covered Normal wear and tear and general ageing of the vehicle. Depreciation or any consequential loss. Mechanical/ electrical breakdown.

Sum Insured All vehicles are insured at a fixed value called the Insureds Declared Value (IDV). IDV is calculated on the basis of the manufacturers listed selling price of the vehicle (plus the listed price of any accessories) after deducting the depreciation for every year as per the schedule provided by the Indian Motor Tariff.

 In case of motor insurance claim, you can avail cashless facility for the repair of your vehicle in any of our cashless garage network. However, If the vehicle is serviced in a garage outside the purview of our network, then you can claim reimbursement for the same. In Case of an Accident Note the number of the other vehicle involved in the accident, if any. Note down the names and contact details of witnesses, if any. Contact our toll free number 1800 2666 and get your claim number / reference number. After Registering the Claim Our Customer Service Manager (CSM) will contact you within 24 hours of registering the claim. Submit all the required documents to the dealer / CSM and get them verified with the originals.

CLAIM PROCESS

DOCUMENT REQUIRED FOR ACCIDENT CLAIM:

1. 2. 3. 4. 5. 6. 7. Claim Form duly signed RC copy of the vehicle Driving License copy Policy copy (First two pages) FIR on a case-to-case basis Original Estimate Original Repair Invoice and Payment Receipt (for cashless garage, only repair invoice) 8. Stamp required in case of company registered vehicle

IN CASE OF THEFT
1. 2. 3. 4. 5. RC copy of the vehicle Driving License copy Policy copy Original FIR copy Final report A no trace report from the police saying that the vehicle cannot be located. 6. Stamp required in case of company registered vehicle

IN CASE OF THIRD PARTY CLAIM

1. 2. 3. 4. 5. 6. Claim Form duly signed Police FIR copy Driving License copy Policy copy RC copy of the vehicle Stamp required in case of company registered vehicle

Sr no . 1

Dealer name

Address

City

stat Contact e no PB

Contact person

Mobile no

TARA OPP. ITI BATHINDA AUTOMOBILE S MEHTA MOTOR PADAM MOTOR KRISHNA AUTOS MODERN MOTORS RAJA MOTORS IMPERIAL MOTORS BIBI WALA ROAD BATHINDA

9876040 G.S 482 SEHKHAR 9814505 722 9216530 039 RAJEEV GOYAL GOPAL BHUPINDE R SHARMA RUPINDER SINGH GANESH SHARMA NA NA 988867 1810 9417566 083 9781401 122

PB

3 4

BATHINDA 40 FEET BATHINDA ROAD OPP. TV BATHINDA TOWER MANSA ROAD GT ROAD BATHINDA BATHINDA

PB PB

PB

6 7

PB PB

List of banks offering Automobile Insurance in India

Bank HDFC Bank Two /four Car insurance wheeler policy policy Auto secure Auto secure Commercial vehicle policy Auto secure

ICICI Lombard
Bajaj Allianze

Two wheeler package policy

Bajaj Allianzes Motor policy Motor Coverage

Motor plan
Bajaj Allianzes Motor insurance Motor Policy

Motor plan
Bajaj Allianzes Motor policy Motor Coverage

The new India

Factors Affecting Premium Amount

The premium rates are governed by tariff as decided by the Tariff Advisory Committee. Generally speaking, the premium payable for your vehicle depends on: 1. Type of vehicle 2. Age of vehicle 3. City of registration 4. Period of coverage (For less than 12 months) and 5. Any applicable discounts/loadings, as per relevant General regulation of motor tariff.

BENEFITS OF MOTOTR INSURANCE

Repairs made to your car due to damage caused in an

accident Unlimited Liability for Third Party death/ injury Claims. If you've had car insurance for one year or more and you haven't made a claim, you can get a "no claims discount It covers lawsuits, including legal fees brought against you as the result of an accident. Covers the bills of vehicle repairs due to damage caused in an accident. Provides benefits to survivors when an accident results in death. Covers damage caused by other than an accident for example, theft, fire, etc.

 Motor Insurance in India cannot be transacted outside

the purview of the India Motor Tariff unless specifically authorized by the TAC. {tariff advisory committee The motor vehicle act 1988 Bhargav das gupta is the ceo of icici lombard gic ltd.

Depreciation charged on the parts of vehicle

1. Rate of

depreciation for all rubber nylon/plastic parts, tyres and tubes, batteries and air bags 50% 2. Rate of depreciation for all fiber glass components 30% 3. Rate of depreciation for all parts made of glass - nil

4.Rate of depreciation for all other parts including wooden parts is to be as per the following schedule
AGE OF THE VEHICLE % OF DEPRICIATION
NIL 5% 10% 15% 25% 35% 50%

Not exceeding 6 months Exceeding 6 months but not exceeding 1 year Exceeding 1 year but not exceeding 2 years Exceeding 2 years but not exceeding 3 years Exceeding 3 years but not exceeding 4 years Exceeding 4 years but not exceeding 5 years Exceeding 5 years