Your car is one of your most prized possessions. After all, you devote so much of time and energy in selecting the car that fits your needs and suits your personality. You look around for the best car deals and complement it further with the right accessories, some of which are quite expensive.
Car insurance is the best way to secure you and your car interest from unwanted incidents and expenses. Hence, you get your car insurance as soon as possible. It is just one more piece of paperwork for you then. But what happens when you need to renew your car insurance? Car insurance renewal in India has become a lot easier now with most insurance providers giving renewal options online.
Renew your ICICI Lombard car insurance on a regular basis to keep it up to date and in good shape. When you're shopping around for new car insurance coverage, check out any discounted rates or special benefits that come with it. We believe that renewing an existing policy can often be cheaper than buying a new one. Don't forget, some providers offer discounts for people who've been with them for a long time.
If you had bought ICICI Lombard car insurance from PolicyBachat do not worry renewing online can be done through a simple three step process on our website as per your convenience. Follow these simple steps to avail a policy within minutes:
- Fill in the required details and select a new policy or renew the policy
- Give the personal details; select the policy coverage and add-ons of your choice.
- You will get an instant car insurance premium quote. If you are satisfied with the quote, you can proceed to pay the premium online.
Why ICICI Lombard Car Insurance Renewal Online?
You need to be sure that you have your car insurance renewed each year as driving around without a valid car insurance is as bad as driving without one at all. For car insurance renewal in India, all you need to do is go online and check out the different options that are on the offer. You can continue with your existing insurance provider or think of switching over to another if you get a better deal. When you look at car insurance renewal in India here are some of the things to consider:
- Market presence
- Garage tie-ups
- Payment options.
ICICI Lombard provides quick and easy policy renewal procedures for the policyholders. ICICI Lombard car insurance takes care of any damage your vehicle might suffer. This plan covers all aspects of car insurance including third party expenses. Policy is issued instantly without any delay. There are other advantages of the scheme, such as:
- Quick claims survey.
- Towing assistance within city limits.
- Cashless settlement through approved workshops.
- Customer service that can be availed through a toll-free assistance number and claims registration through the same.
- Easy claims finalization within seven working days after receipt of all documents.
|Claim Settlement Ratio
|Third Party Liability Cover
||Up to Rs. 7.5 lakhs
|Personal Accident Cover
||Up to 1 lakh
How to Reduce the Cost of Your ICICI Lombard Car Insurance Renewal?
It's entirely up to you where to get your car insurance from because the cost comparison between different companies varies. A number of factors can affect the amount of money you pay on each annual renewal, these include:
- Renew Policy before it Lapses (In time)
- Opt for Voluntary Deductibles
- Understand your needs
- Use the No Claim bonus (NCB)
- Renewing Online is the Cheapest.
When you buy a new car, it's important to know when your car insurance policy needs to be renewed. Some policies renew before you're even finished paying off your new car. There are many factors that can affect the timing and cost of a renewal. Factors include:-
- The age of your vehicle
- The type of coverage that you have
- Your driving history
- The price of your car and
- Your credit score.
ICICI Lombard Car Insurance Renewal Costs per cc:
||Expecting Premium (2021-22)
|Not exceeding 1000cc
|Exceeding 1000cc but not exceeding 1500cc
*Above mentioned values are for displayed purpose if you want to know the exact readings compare quotes.*
ICICI Lombard Car Insurance Renewal Benefits:
- Hassle-free renewal and purchase of policies
- 24*7 responsive customer support and helplines
- No Claim Bonus (NCB) discount for every claim-free year
- (ARAI) approved anti-theft device
- Minimal documentation and instant processing
- Option for self-inspection after expiry of the policy
- Transfer of NCB discount from previous policy of another insurer
- Up to 5% discount if you are a member of Automobile Associations
- Up to 2.5% discount if your car is secured by an Automobile Research Association of India.
Some of the Queries Arise by Customers at Renewal:
When Does Your Insurance Policy Expire?
As soon as your insurance policy is close to expiring- they'll notify you via phone or email. Renewing earlier means that you can continue to enjoy the peace of mind we provide and have a whole year of protection in case something happens. This is because if you don't, you will have to pay a higher premium for the new policy.
To avoid the risk of any claims being denied, we advise you to renew your vehicle insurance 30 days before it expires. ICICI Lombard offers you the best rates and protection at a fair price. To explore our new payment options, please contact ICICI Lombard store before upcoming deadlines. This way, you'll be sure to make adjustments as needed in time for the next billing cycle.
Is ICICI Lombard Car Insurance Renewal Easy?
Yes, it is easy to renew ICICI Lombard car insurance with PolicyBachat with Simple easy steps. You just have to pay your current premium in order to renew without having to go through the full application process again ahead of time. Before expiration of the policy, there will be a reminder from the company about needing to renew.
Or renewing your expired ICICI Lombard car insurance policy is also easy with PolicyBachat with simple 3 steps. Fill in the required fields at quotes comparison, click on the renew of your policy, and make payment.
What if I decide not to renew my ICICI Lombard Car Insurance Policy?
If you decide not to renew, the policy is terminated when your existing cover period expires. Vehicle cover will run out and your annual premium won't be paid. If you have decided against renewing your ICICI Lombard car insurance policy, please contact the company. Follow these steps to cancel your ICICI Lombard Car Insurance Policy:
- Inform your insurer before the renewal date.
- If you're using an automatic payment plan, be sure to contact your insurer and cancel before the first payment of the renewal term is automatically deduct
- If you have not already, make sure you cancel your policy before it renews by the end of the term.
- If not, make sure to cancel before paying for any services that may incur additional costs.
- Contact your insurer to see if you need to submit a written letter of cancellation or if you can do so online or over the phone.
Can I Renew My Car Insurance Policy After Expired?
If you didn't renew your policy by the deadline, you might be able to get an extension if it was a lapse in coverage rather than outright cancellation. Find out more from your insurance company about what happens next. You might still be able to get a new policy even if your old one doesn't get renewed.
What If I Don't Renew My Policy And Drive Without Insurance?
Driving without a car insurance policy on the road is crime you will be fined for that issue and lot more things been happened:-
- Penalties and legal fines for driving without insurance is of Rs. 2000 and imprisonment of up to 3 months
- Third party liability
- Legal complications
- Loss of No Claim Bonus
- Damage to Self.
Which discounts can a customer get on his next renewal of ICICI Lombard car insurance?
If the customer has not claimed bonus in any year, they’ll get a ‘No claim bonus’ that will offer a discount of up to 50% on the policyholder’s own damage premium, if they renew the policy within 90 days of expiry date.
Which additional add-ons offered by ICICI Lombard will benefit you the most when renewing your car insurance?
The add-on cover called NCB Protection allows the policyholder to retain his/her existing NCB (No Claim Bonus) at the time of renewal.
ICICI Lombard Car Insurance Premiums as per Model of Your Car:
||Zero Dep Cover
|Toyota Camry - Hybrid
||Rs. 5, 34,363
|Ford Aspire-Sports edition
||Rs. 4, 93,338
|Renault Kwid – STD
||Rs. 2, 28, 388
|TATA Tiago XE
||Rs. 4, 32,299
* The displayed values were only intended to be representative of the readings, if you want exact values compare quotes*.
How to Renew Your Lapsed/Expired the ICICI Lombard Car Insurance Policy Online?
ICICI Lombard General Insurance Company offers a break-in insurance facility wherein a customer can renew the lapsed car insurance policy. Whenever an active car insurance policy premium is not renewed in stipulated time the car insurance policy is lapsed or expires. ICICI Lombard allows quick and easy renewal of such ‘break-in insurance’ policies at an affordable price. For renewal of lapsed policy ICICI Lombard offers two unique facilities as under:
- Doorstep Surveyor Facility wherein an authorized surveyor will visit to inspect your vehicle, and
- Digitally signed policy whereby the immediate purchase of ‘break-in insurance’ policy is possible.
Car insurance renewal in India has become a lot easier these days. Make sure that your car insurance renewal in India is done in time to earn maximum benefits and remain under a protective umbrella always.
Now that you know the benefits of renewing your ICICI Lombard car insurance policy on time, it is highly recommended to renew on time in order to avoid any unpleasant surprises later. Renewing the policy on time also enables you to save money, time and effort.
“Remember to renew your insurance policy before it expires to avoid a break in coverage”
So, if you are planning to buy a new plan, you must definitely consider timely renewal in the future, and if you already have an existing plan and missed the renewal date, then rush and Renew Now! It’s better to do it early than be too late.