ICICI Lombard Own Damage Car Insurance

ICICI Lombard’s standalone own damage insurance plan for car provides coverage for car damages resulting from natural disasters such as earthquakes, floods, cyclones, landslides, etc., as well as man-made disasters like theft, burglary, riots, strikes, etc. Here, you’ll find more details about this essential policy cover.

What is Own Damage Car Insurance?

Standalone own damage insurance is a specialised car insurance policy designed to cover damages to your vehicle resulting from various incidents such as accidents, theft, fire, or natural disasters. Introduced by the Insurance Regulatory and Development Authority of India (IRDAI) in September 2018, standalone own-damage insurance offers consumers greater flexibility and choice in insurance coverage options.

A policy with an Own Damage (OD) clause will cover the costs of repairing your vehicle if it gets damaged. For example, if you accidentally collide with your neighbour's car, your insurance will cover the repair costs for your neighbour's vehicle under the mandatory third-party insurance, but you'll be responsible for repairing your own car.

This is where a standalone OD insurance policy proves beneficial and helps you save money by covering damages to your own vehicle.

Key Features

Listed below are some key features of ICICI Lombard own damage car insurance. These features make ICICI Lombard an ideal insurance provider.

• Insurance Premium: The ICICI Lombard own damage Car Insurance Premium starts at ₹2,094.
• No Claim Bonus: You can receive a No Claim Bonus of up to 50%.
• Cashless Garages: With ICICI Lombard, you can access over 13,000 Cashless Garages in our network.
• Roadside Assistance: The ICICI Lombard own damage policy covers offers 100% roadside assistance.
• Personal Accident Cover: You can get a Personal Accident Cover of up to ₹15 lakhs with ICICI Lombard.
• Coverage: ICICI Lombard Own Damage Cover includes accidents, natural calamities, theft, fire, and personal belongings accidents.
• Claim Settlement: ICICI Lombard’s customers get instant survey via InstaSpect for Claim Settlement.

How To Buy ICICI Lombard Standalone Own Damage Car Insurance?

To purchase ICICI Lombard Car own-damage insurance online, follow these steps:

• Step 1: Go to the car insurance section on the ICICI Lombard website.
• Step 2: Enter all necessary details, including your mobile number, email address, car registration number, city of registration, and registration year.
• Step 3: Choose the ICICI Lombard standalone car insurance policy from the available options.
• Step 4: Customise your coverage by selecting add-on covers to suit your requirements.
• Step 5: Complete the payment for the premium using debit cards, credit cards, net banking, or other available methods.
• Step 6: Receive your car policy documents directly in your email inbox.

Add-Ons

You can increase your standalone own damage insurance policy by buying add-ons. This will give you coverage for zero depreciation, engine protection, lock and key protection, roadside assistance coverage, and many more.

1. Roadside Assistance Cover: ICICI Lombard helps you get towing benefits in case your car breaks down.
2. Zero Depreciation Cover: The zero depreciation cover compensates the value of your car as it ages.
3. Engine Protect Cover: With ICICI Lombard, this cover compensates for repair/ replacement of the damaged car engine.
4. Garage Cash Cover: While your car is being repaired, ICICI Lombard provides you alternate transportation allowance.
5. Consumables Protect Cover: The repair/ replacement cost of car parts (nuts, bolts, screws etc) are covered in the ICICI Lombard own damage policy.
6. Personal Belongings Cover: If your personal belongings get damaged, then you don’t have to worry as ICICI Lombard cover them under its own damage policy.

Documents Required to Buy ICICI Lombard Standalone Damage Car Insurance

You require the below-mentioned documents to buy ICICI Lombard Standalone Damage Car Insurance:

1. A proof of identity, which could be one among:

• Passport
• Driving licence
• Aadhar
• PAN card
• Government-issued photo ID

1. A proof of address, which could be one among:

• Passport
• Driving licence
• Bank or post office passbook
• Government-issued address proof

1. A recent passport-size photograph
2. Driving licence
3. Registration certificate of the vehicle

How Does a Standalone Own Damage Car Insurance Policy Work?

Standalone own-damage insurance focuses on covering damages to your own vehicle. It covers damages from accidents, theft, natural disasters, fire, and more. The premiums are calculated based on the make and model of the car, its age, the geographical location, the insured declared value (IDV), and optional add-ons.

Own damage insurance is issued for a one-year term, renewable annually. In case of damage or loss to the insured vehicle, the policyholder needs to inform the insurance company and file a claim. This involves providing details of the incident, such as the time, date, location, and nature of the damage.

The insurance company may assess the extent of the damage and determine the claim amount based on the policy terms and conditions. Depending on the assessment, the insurer may either help with the repairs at a network garage or provide compensation equivalent to the repair cost. Policyholders need to renew their standalone own damage insurance before the expiry date to ensure continuous coverage.

ICICI Lombard Own Damage Car Insurance Claim Process

How to File a Claim (Step-by-Step Process)

When an accident occurs, it can cause significant trouble due to the losses and damages incurred. To simplify the process, follow these easy steps on InsuranceDekho’s official website to file a claim for standalone own damage insurance.

• Step 1 - Firstly, you can contact us if your car suffers accidental damage. For this, reach out via our toll-free number – +91-7551196989 or email us at support@insurancedekho.com.
• Step 2 - Check the "Claims" section on our car insurance webpage, where you'll receive a link on your mobile number for self-inspection of your car. Additionally, a surveyor will examine the damages and evaluate them. Enter the damage specifics on the online form according to your inspection.
• Step 3 - In the last step, you can opt for either a cashless claim or reimbursement. With the former, your car would be repaired at one of our network garages, and we’ll handle the expenses directly.

Alternatively, you can choose your preferred garage for repairs and receive reimbursement accordingly.

Documents Required

The following documents are required to file a claim for standalone own-damage car insurance:

• Copy of the Registration Certificate or RC
• Copy of the Driving License
• Copy of the FIR
• Original estimate of the cost of repairs
• Receipts of any payments made which are to be reimbursed
• Policy certificate
• Duly filled and signed claim form

Claim Assistance

You can get assistance from InsuranceDekho by contacting us at support@insurancedekho.com. You can also call us at +91-7551196989 to get an agent for a physical visit.

Covered Vs Not Covered Under ICICI Lombard Standalone (OD) Car Insurance Policy?

Inclusions:

Listed below are the inclusions in ICICI Lombard’s standalone own damage insurance:

• Accidents,
• Natural calamities,
• Theft,
• Fire and Personal Belongings Accident Cover

Exclusions:

Listed below are the exclusions in ICICI Lombard’s standalone own damage insurance:

• Intentional damage to your own car or someone else's property
• If the car is used to commit a crime, ICICI Lombard may not cover any resulting damage.
• Driving under the influence of drugs or alcohol, the policy may not cover any resulting injuries.
• If the car is used for racing or other high-risk activities, this policy cover may not provide coverage for any resulting damage.
• Commercial use of your vehicle, like delivering goods or transporting passengers for payment, might affect your personal car insurance.
• Damage from regular wear and tear, such as mechanical breakdowns or routine maintenance, might not fall under the coverage.
• Your insurance policy may exclude coverage for accidents caused by the negligence of a minor driver.

Factors that Affect Your Own Damage Car Insurance Premium?

It is important to consider these factors affecting standalone own damage insurance premiums:

• Insured Declared Value (IDV): The current market value of your car, known as IDV, affects your standalone own damage insurance premium. Hence, opting for a higher IDV increases your insurance cost accordingly.
• Car's Age: As your car ages, it depreciates, impacting its value and reducing the own-damage premium.
• Car Model: High-end or luxurious cars have a greater risk for expensive damages, leading to higher premiums for standalone insurance policies.
• No Claim Bonus (NCB): A clean claims record during the policy term provides you a No Claim Bonus, reducing the standalone own damage insurance premiums upon renewal.
• Add-ons: While additional features like Zero Depreciation or Roadside Assistance increase coverage, they come at an extra cost. Therefore, choosing essential add-ons helps control the own-damage premium.