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    Car Insurance

    How is the Insured Declared Value (IDV) of my vehicle decided and how does it impact my coverage?

    The Insured’s Declared Value (IDV) of the vehicle will be deemed to be the ‘Sum Insured’ and it will be fixed at the commencement of each policy period for each insured vehicle.

     

    The IDV of the vehicle (and accessories if any fitted to the vehicle) is to be fixed on the basis of the manufacturer’s listed selling price of the brand and model of the insured vehicle at the start of the insurance or renewal. The IDV would subsequently change according to the depreciation grid below for each one year block within the policy period for the insured vehicle. All ages of vehicles, provided they have a valid fitness certificate as required by law, will be covered by the aforementioned product.

    Where can I check my car insurance policy details? Can I skip the 15 lakh Personal Accident cover for owner in my car insurance policy? Is my No Claim Bonus (NCB) transferable? Do I need to have a valid insurance policy to get my new vehicle registered? What is third party liability cover in a car insurance plan? Why Is Car Insurance Mandatory in India? How is Car Insurance Premium Calculated? Why do I need to insure my car? What are the benefits of buying car insurance online? How quickly can I buy/ renew car insurance online? Are offline and online car insurance policies the same? What is Key Protect cover in car insurance? What is Garage Cash cover? Do you cover damage due to a hit by a coconut or cricket bat? Does the ICICI Lombard car insurance policy cover partial theft? What is Road Side Assistance (RSA) in a car insurance policy? What is Zero Depreciation (ZD) in a car insurance policy? What is covered under ZD? Do we cover engine in ZD? What is Engine Protect Plus? What factors affect my premium amount? How do I register my claim? How many times can we claim under car insurance in a year? What is a cashless claim and a non-cashless/reimbursement claim? What is the meaning of deductible in a car insurance policy? Will my NCB be impacted if I claim for Loss of Personal Belongings (LOPB) & Key Protect? How many times can I claim for Roadside Assistance service during the policy period? What are the different types of car insurance policies? What are the risks covered by Private Car Package Insurance Policy? I am the car's second owner and want to book a fresh policy on my name. What is the process? What do I do with my car insurance policy, if I sell my car? When should I renew car insurance? I have bought a new car and want to transfer my old car's NCB (from another insurer) on to the new policy (ICICI Lombard). What will be the process?