ICICI LOMBARD Two Wheeler Package Policy
What is a two-wheeler package insurance policy?
Two-wheeler insurance is an insurance plan focused on protection and coverage for bikes. It covers the cost of repairs in the case of accidental damages to your bike. Apart from accidents, it also provides financial security from incidents like thefts, natural disasters, vandalism, etc. and third party liabilities.
What are the different types of bike insurance policies?
Different people have different requirements when it comes to insurance coverage for their two-wheeler.
To cater to their different needs, we have three main types of two-wheeler insurances.
Comprehensive policy
This two wheeler insurance plan protects the owner from the costs incurred in accidental damages to a
third party as well as to own vehicle. You can even select add-ons by paying a nominal additional
premium, to enhance your coverage under such cover. It also provides you with a personal accident
cover of ₹15 lakh for accidental death and disability at a small additional premium.
Who is it suitable for?
If you already have an active third party policy for your two wheeler.
What does it cover?
- Accident
- Damage in transit
- Theft
- Third party liability
- Fire
- Personal accident
- Natural calamities
- Add-ons
Standalone own damage policy
Our stand-alone own damage two wheeler insurance plan covers the damages to your bike or scooter
caused by natural disasters like earthquake, flood, cyclone, landslide, etc. or man-made disasters like
theft, burglary, riot, strike, etc.
Who is it suitable for?
If you already have an active third party policy for your two wheeler.
What does it cover?
- Accident
- Natural calamities
- Theft
- Damage in transit
- Fire
- Add-ons
Third party cover
This type of insurance policy covers you against legal liabilities arising out of an accident. Under this type
of two wheeler insurance policy, if your bike causes injuries to a third party or his= surrounding property,
then your insurer will take care of these expenses.
Who is it suitable for?
This type of policy is not recommended for any bike owner. Even if your bike is lying idle in parking, you
still run the risk of theft, fire, parking accidents and more. Consider this only if you don’t mind paying for
bike repairs out-of-pocket.
What does it cover?
- Third party property damage
- Injury to the third party
Benefits of having a bike insurance
Owning and riding a bike offers a lot of advantages. For example, buying and maintaining a two- wheeler is much cheaper and easier than a car. Despite these advantages, riding a bike is extremely dangerous when the condition of the roads are bad and there is heavy traffic. Also, factors like bad weather, road spills, rash driving by other drivers can harm you and your vehicle. Not to mention, bike theft has become a raging problem in recent years. Hence, having a reliable bike insurance policy is more of a necessity. Here are few benefits that two-wheeler insurance offers:
- Financial protection
- Roadside assistance
- Coverage for spare parts required in repairs
- Coverage for bike theft
- Coverage for accidental injuries
What is covered by ICICI Lombard two-wheeler package insurance policy?
Learn about your two wheeler insurance policy coverage in one glance.
Inclusions
- Loss or damage to your two wheeler due to natural disasters
Fire, explosion, self-ignition or lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide, rockslide. - Personal accident cover#
₹15 lakh cover for the registered owner-driver of the bike or scooter while travelling in, getting on or off the two wheeler. You can also buy optional personal accident cover for co-passengers by paying an extra premium. - Loss or harm to your two wheeler against man-made disasters Burglary, theft, riot, strike, malicious act, accident by external means, terrorist activity, any damage in transit by road, rail, inland waterway, lift, elevator or air
- Third party legal liability Protection against legal liability due to accidental damages resulting in the injury or death of a person or damage caused to the surrounding property.
Exclusions
- Wear & tear and ageing of the bike or scooter
- Wear & tear of tyres and tubes unless the vehicle is damaged in an accident, in which case we cover up to 50% of the replacement cost
- Depreciation or any consequential loss.
- Mechanical or electrical breakdown
- Harm to or by a person riding the two wheeler under the influence of drugs or liquor
- Loss or damage due to war, mutiny or nuclear risk
- Vehicle being used otherwise than in accordance with limitations as to use
