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Cashless Claim Settlement in ICICI Lombard:

ICICI Lombard has simplified the claim settlement process for their customers. Below is the process of claim settlement with ICICI Lombard insurance:

Step 1: Claim Registration

The first step in the claim process is to register the claim by calling on the Toll free number 1800-103-2292 and registering the claim by mentioning the basic details such as policy number, date and time of accident, brief description of the accident, approximate claim costs etc. A claim intimation number would be assigned by the ICICI Lombard claims team which should be quoted for further communications regarding the claim. ICICI Lombard team will take you through the entire claim process and would assist you in each and every step of the claim settlement process.

Step 2: Repairs

The next step in the car claim settlement process is to take the car to the nearest garage for repairs. ICICI Lombard has tied up with more than 6000+ garages Pan India to provide cashless service to the customers. This Pan India service can be utilised by anyone and get the repairs done at any part of India. In case of minor damages the car can be driven to the nearest garage for undertaking repairs, if in case the car is in immovable condition then the towing services can be availed to two the car to the nearest garage.

Step 3: Claim Settlement

ICICI Lombard‘s Door step Pickup, Repair and Drop feature allows the customers to get their vehicles picked up by the representatives of the insurance company and are repaired in the garage before being delivered to the customer. ICICI Lombard insurance company would send an inspection link to the customer to carry out the inspection of the damaged vehicle instead of waiting for the surveyor which could take up to 48 hours depending on the place of accident.

The link for self inspection would be sent to the registered mobile number of the customer from which the customer can shoot the damaged parts of the vehicle to process the claim. Basically the process is simple such as the Do it yourself (DIY) where the customer would be need to simply follow the instructions while uploading the damaged parts. ICICI Lombard claim insurance team would assess the damage and get back to the customer with an estimate. Post this, the customer has the option to go for either reimbursement or cashless through the network garages pan India.

In case there is an accident where your vehicle has damaged someone else’s vehicle or injured someone then it needs to be reported to the insurance company immediately. FIR should be lodged at the local police station and a copy of it should be submitted to the insurance company. A claim should be registered by intimating the details of claim mentioning the policy copy number. It is to be noted that all the third party claims would be settled in a Motor Accident Claims Tribunal (MACT).

The IL Take care app introduced by ICICI Lombard helps the customer to store the Motor and health insurance policies in one place and the claim settlement process can be carried out using the app. The app can be used to find the nearest network garage and to initiate the claims. All the supporting documents relevant to claim should be uploaded on the app and the customer can conduct the self inspection of the damaged parts so that the insurance company can ascertain the quantum of loss online. The inspection can be done from the place of accident thereby providing the real time information to the insurance company. After the claim is lodged, the same can be tracked online using the IL take care app and real time updates would be shared with the customer via app.

The list of network garages can be checked online by entering the details of your vehicle. There are OEM garages as well as Multi car garages which provide cashless claim settlement service to the customers of ICICI Lombard.

Theft Claims:

Theft claims are those where the vehicle is stolen and the claim is made by the customer under the own damage section of the ICICI Lombard motor insurance policy. The theft claims are settled when the police are not able to trace the vehicle and the customers can submit the Non traceable certificate provided by the police department in addition to the other required documents. In most of the theft claims, it is very difficult for the vehicle to be traced and brought back to the rightful owner. In these cases the claim would be settled by the insurance company. The claim amount would not exceed the Insured declared value in case of comprehensive policy without any riders. If the Invoice cover rider is purchased by the customer, then the claim amount would be the invoice price of the new vehicle of same make and model.

In case of theft, the insured should report the incident to the local police and file an FIR which should be submitted to the insurance company to process the claim. If you are not satisfied with the claim amount or there is a disagreement on the quantum of the claim amount, you can approach the ombudsman of the insurance company before trying for the arbitration process which involves arbitrators from both ends to meet and discuss on the quantum of claim to be settled instead as a case of out of court settlement.

Total Loss/ Constructive Total loss claims:

Total loss or constructive total loss claims are those when the repair costs of the damaged vehicle is more than 80% of the insured declared value. In these scenarios the total idv mentioned in the policy would be paid as claim amount to the customer and the claim would be closed. The total loss and constructive total loss claims would be settled after deducting the salvage value from the damaged vehicle. The salvage value would be arrived after using a formula which specifies the market value of the salvage.

The claim amount in the total loss claims would not exceed the insured declared value mentioned in the policy document. This is an exception in case the customer has purchased the Invoice add-on cover under which the claim would be settled as per the invoice amount of the new vehicle.

In case of theft, the insured should report the incident to the local police and file an FIR which should be submitted to the insurance company to process the claim. If you are not satisfied with the claim amount or there is a disagreement on the quantum of the claim amount, you can approach the ombudsman of the insurance company before trying for the arbitration process which involves arbitrators from both ends to meet and discuss on the quantum of claim to be settled instead as a case of out of court settlement.

Reimbursement Claim Settlement:

ICICI Lombard has simplified the claim settlement process for their customers. Below is the process of claim settlement with ICICI Lombard insurance:

Step 1: Claim Registration

The first step in the claim process is to register the claim by calling on the Toll free number 1800-103-2292 and registering the claim by mentioning the basic details such as policy number, date and time of accident, brief description of the accident, approximate claim costs etc. A claim intimation number would be assigned by the ICICI Lombard claims team which should be quoted for further communications regarding the claim. ICICI Lombard team will take you through the entire claim process and would assist you in each and every step of the claim settlement process.

Step 2: Repairs

The next step in the car claim settlement process is to take the car to the nearest garage for repairs. In case the network garage is not available at the place of accident, then the customer can take the vehicle to any nearby garage to carry out the repairs. The process of inspection by the surveyor or self inspection would remain the same. Customer can either ask for the surveyor to be deputed or raise the claim from IL take care app and carry out the inspection on the app and upload the damaged photos for the insurance company to act on the claim. The quantum of claim amount would be notified to the customer by the insurance company once the inspection of the vehicle is done either by the surveyor or on the self inspection app by the customer. Once the customer agrees for the claim amount, the repairs can be undertaken by the garage.

Step 3: Claim Settlement

The next step is the claim settlement in case of reimbursement claims where the customer needs to share all the supporting claim related documents with the insurance company to carry out the claim settlement process. All the documents along with the claim intimation number should be shared with the insurance company to process the claim. The claim would be put on hold if the required documents are not shared on time. Delay in sharing the documents would lead to closure of claim by the insurance company. The claim amount as agreed would be paid to the customer.

In case of theft claims the required documents are to be submitted to the insurance company to process the claim. The documents required for theft and total loss or constructive total loss claim settlements are mentioned in the upcoming paragraphs.

ICICI Lombard Claim Status- Customer Care, Helpline, Customer Support

ICICI Lombard Claim settlement is the best in the industry with 98% which means that the number of claims settled is high compared to the industry peers. ICICI Lombard has an internal claim settlement team to handle Third party claims which eliminates the third parties in the claim settlement process. The IL Take care app from ICICI Lombard can be used to find out the claim status. The app also provides various options to customers to know the claim status.

ICICI Lombard customer care number is 1800 2666 which can be used to lodge claim with the insurance company by the customer without going to any IL office. Customers can even send a mail to 575758 with subject “CLAIM” and the customer would receive call from call centre executive to assist with the claim settlement process.

The customer support team of ICICI Lombard is very helpful at the time of claim settlement as the claim settlement is important part of insurance. ICICI Lombard also has a claim helpline number 18002666 which can be utilised by the customers to make claims and know the status of the claims real time. The claim settlement would be done within the stipulated time subject to the submission of required documents to the insurance company. In case of cashless motor claim the claim would be settled directly to the garage and the customer can get the vehicle repaired and get going.

In case of reimbursement motor claims the claim can be raised on IL take care app immediately after the accident and the inspection can be done by the customer on the spot. The reimbursement would be made to the customer account within a stipulated period for certain limit as specified by the insurance company. The reimbursement would be done if the documents are submitted to the insurance company on time.

ICICI Lombard also has an in-house claim settlement team for all health related claims where the claims would be settled by the insurance company without any involvement of Third party administrators. The claim settlement of ICICI Lombard is the best in the market with 98% claim settlement ratio. Higher the claim settlement ratio, higher would be your chance of claim getting settled.

ICICI Lombard Motor FAQs:

Can I purchase ICICI Lombard Car insurance online?

Yes, you can purchase ICICI Lombard car insurance policy online from the online portal by entering the details of your car such as Make & Model, Year of registration, RTO location etc.

Is claim payable if I purchase insurance online?

Yes. Claim is payable if you purchase your car insurance online. Online is another mode of purchase just like offline purchase from agent or through bank. The claim process is made mostly online and hence the need to visit an office at the time of claim would be drastically reduced with the Motor on the spot feature of ICICI Lombard.

Can I renew my existing ICICI Lombard car insurance policy online?

Yes, you can renew your existing ICICI Lombard car insurance online till the vehicle reaches 15 years of age. The renewal process is quite simple which involves the customer to enter the policy details and proceed to payment page.

My car is more than 20 years old; will ICICI Lombard insure my car?

If the age of your car is more than 20 years of age, please contact the toll free number 1800-123-4003 to get assistance from our car insurance expert. Four wheelers aged above 20 years would be insured after satisfied inspection report.

How is the claim settlement ratio of ICICI Lombard?

The claim settlement ratio of ICICI Lombard is 98%* which is considered as the best claim settlement ratio in the insurance market. The claim settlement ratio would change from time to time and the high settlement ratio indicates the high chance of your claim getting settled. More than 90% of the motor claims are settled within 30 days from the date of intimation which shows the dedication of ICICI Lombard towards claim settlement.

What are the advantages of ICICI Lombard car insurance policy if purchased online?

There are many advantages of purchasing car insurance online from ICICI Lombard general insurance company such as: Instant policy issuance, Policy purchase from your place of comfort, less paperwork, No need to visit office physically etc. These advantages make it attractive to purchase ICICI Lombard car insurance policy online

Can I get Bumper to bumper cover for my car?

Yes, you can purchase bumper to bumper cover for your car from ICICI Lombard general insurance company for cars which are aged not more than 5 years. Bumper to bumper is also known as zero depreciation cover which settles the depreciation cost at the time of a claim. Additional premium needs to be paid if you opt for bumper to bumper cover along with the comprehensive car insurance.

If I renew my car insurance with ICICI Lombard, will my NCB stay intact?

No claim bonus is given to the driver/owner of the car based on the driving behaviour and is eligible to be carried forward at the time of renewal. NCB stays intact if you renew your car insurance with ICICI Lombard even though your previous car insurance was with a different insurance company. No claim bonus becomes zero if there is any reported claim in the previous year. No claim bonus will be increasing every claim free year as per the levels mentioned in the policy terms and conditions.

Can I purchase only Third party car insurance?

Yes, only third party car insurance can be purchased as it is mandatory to have a TP insurance to drive in public places. But it is advisable to have a comprehensive car insurance policy to safeguard your financial interests. Third party car insurance premium is decided by the Government of India and is subject to change each year.

What is Comprehensive Car insurance?

Comprehensive car insurance from ICICI Lombard covers the loss or damage to the car due to any of the insured peril acting at the time of accident and the legal liability arising out of bodily injury or death of third parties due to an accident involving the insured car. Third party section also covers the property damage of third parties involved in the accident. Comprehensive car insurance includes the own damage section as well as the third party section. Add-ons can be included or excluded from the comprehensive car insurance based on the desirability of the customer.

Does ICICI Lombard offer any discount for online purchase?

ICICI Lombard offers extra discount for online purchase of car insurance. To avail extra discount on your car insurance please visit the online portal https://www.policybachat.com/car-insurance . The extra discount would be offered on the own damage section of the car insurance whereas the TP premium is pre fixed based on the cubic capacity of the car.

What type of cars/ four wheelers does ICICI Lombard insure?

ICICI Lombard insures every make and model four wheeler cars up to the age of 20 years considering the date of registration. Any model car insurance can be purchased online from ICICI Lombard general insurance company. For vehicles more than 20 years of age, please contact our car insurance expert who will assist you with your car insurance renewal from ICICI Lombard general insurance company.

What is the Sum Insured in my Car insurance policy?

The Insured Declared Value (IDV) of the vehicle will be deemed to be the sum insured for the purpose of the policy which is agreed at the commencement of each policy period for the insured vehicle. The maximum liability of the insurance company in case of an accident would not exceed the insured declared value mentioned in the policy copy. The insured declared value will be agreed by both the parties before the commencement of the risk.

The IDV of the vehicle is fixed on the basis of Manufacturer’s selling price of any particular brand of car and is adjusted for depreciation each year. The schedule of age wise depreciation is shown below:-

Age of the Vehicle % of IDV depreciation
Not exceeding 6 months 5%
Exceeding 6 months but not exceeding 1 year 15%
Exceeding 1 year but not exceeding 2 years 20%
Exceeding 2 years but not exceeding 3 years 30%
Exceeding 3 years but not exceeding 4 years 40%
Exceeding 4 years but not exceeding 5 years 50%

How is deprecation calculated in ICICI Lombard car insurance policy?

Depreciation is the decrease in the value of the parts of car as a result of wear and tear of the car over a period of time. The depreciation factor is taken into consideration at the time of claim settlement by the insurance company. The percentage of depreciation is different for different parts of the car which are mentioned below:-

Type of part % of Depreciation
Rubber/ nylon / plastic parts, tyres and tubes, batteries and air bags 50%
Fibre glass components 30%
Glass Parts NIL
  • In the case of painting, depreciation rate of 50% shall be applied only on the material cost of total painting charges. In case of a consolidated bill for painting charges, the material component shall be considered as 25% of the total painting charges for the purpose of applying the depreciation.
  • Rate of depreciation for all other parts including wooden parts would be as per the below table:
Age of the Vehicle % of IDV depreciation
Not exceeding 6 months NIL
Exceeding 6 months but not exceeding 1 year 5%
Exceeding 1 year but not exceeding 2 years 10%
Exceeding 2 years but not exceeding 3 years 15%
Exceeding 3 years but not exceeding 4 years 25%
Exceeding 4 years but not exceeding 5 years 35%
Exceeding 5 years but not exceeding 10 years 40%
Exceeding 10 years 50%

How to reduce my car insurance premium with ICICI Lombard car insurance policy?

ICICI Lombard provides special discounts to customers in the below cases and the car insurance premium can be reduced by following the below tips:

  • Automobile Association membership reduces the premium to be paid by the customer for car insurance policy.
  • Fitting an Anti theft device such as GPS, Steering Lock, Tyre Lock, Burglary alarms etc., can reduce the car insurance premium considerably.
  • Opting for higher voluntary deductibles can also reduce the car insurance premium to be paid by the customer.
  • Restricting the third party property damage limit can also reduce the premium to be paid by the insured.

What is Cover Note in ICICI Lombard Car insurance?

Cover note is a temporary document issued to the customer which mentions the risk acceptance of the insurance company in return for the premium paid. The cover note is considered as a temporary car insurance policy copy. The validity of a cover note is for 90 days after which it should be renewed. The use of cover note is reduced drastically these days after the introduction of online car insurance policy issuance.

My car insurance policy has expired, how to renew?

The process of renewal of expired or break-in car insurance policy is made simple with ICICI Lombard general insurance company. A pre inspection would be carried out by a third party associated with ICICI Lombard or an inspection link would be sent to customer by ICICI Lombard to carry out the pre inspection. This process is carried out by the insurance company to understand the risk being accepted from the customer. The pre inspection is carried in the below scenarios as well:-

  • Break-in insurance
  • Conversion of TP insurance policy to a Comprehensive insurance policy
  • Fresh Payment after cheque bounce
  • Addition of add-ons which were not opted in the previous year.
  • Name transfer in case of sale/ purchase of vehicle.

I have paid premium twice by mistake, how can I claim refund?

The premium towards the purchase of ICICI Lombard car insurance policy with PolicyBachat is Safe, Simple and 100% Secure. There might be instances where the amount was deducted twice for a single policy. In these cases there is no need for the customer to panic as the refund would be processed by the ICICI Lombard general insurance company. Customer can make a formal request to the insurance company for refund if the refund is not processed automatically.

What is the GST under car insurance?

Car insurance premiums attract 18% GST. The GST is calculated on the total premium which includes the Own damage premium as well as the Third party premium. The GST paid by the customer will be redirected to the government of India and doesn’t count for the premium accumulated by the insurance company.

What is the grace period in ICICI Lombard car insurance?

Grace period is the time given to the customer for premium payment to prevent the policy from lapsing thereby giving a chance to customer to enjoy the benefits of the insurance. Unfortunately in motor insurance there is no option of grace period, which means that the car insurance will lapse immediately after the expiry of the policy period and requires pre inspection before the issuance of a new policy.

What is the free look period in ICICI Lombard car insurance?

ICICI Lombard car insurance policy has a free look period of 15 days within which the customer can surrender the policy if he/she is not satisfied with the service of the company or the policy is not in accordance with the quote submitted before policy issuance. There would be no penalty for cancellation within the free look period. The free look period is also called as cooling off period.

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