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Motor Insurance -Four Wheeler

Your vehicle helps you reach destinations and enables you to commute from one place to another. But it might face some damage in an accident or get stolen. The security of your co-passengers can be endangered during accidents. Motor Insurance takes care of all these possibilities and more.

Four Wheeler Package Policy

ICICI Lombard brings to you a comprehensive Package Policy for your four-wheelers, which covers Third Party Liability (TPL) for bodily injury and/or death, Personal Accident cover for owner-driver and loss or damage to the vehicle insured (Own Damage or OD). While Third Party Liability is mandatory under the Motor Vehicles Act, Own Damage is optional.

Key Benefits

•	No Claim Bonus: If you do not make a claim during the policy period, a No Claim Bonus (NCB) is offered on renewals. This discount can go as high as 50%.

•	Transfer your NCB: You can transfer full benefits of No Claim Bonus when you shift your motor Insurance policy from one company to another.

•	Automobile Association: You an also avail additional discount, if you are a member of a recognised Automobile Association of India.

•	Cover yourself, your driver and your family: You can opt for a personal accident cover for other unnamed passengers in your car e.g. your family, relatives, friends etc. Also cover yourself against any legal liability to your paid driver.

•	Customise your Insurance with additional covers: Electrical and non-electrical items fitted to the vehicle can be insured separately.

Policy Coverage

Motor Insurance is governed by the Indian Motor Tariff, which is set by the Tariff Advisory Committee (TAC). Motor Insurance covers you for:

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Loss or damage to your vehicle:
Covers you for any loss or damage to your vehicle or accessories due to:
- Fire, explosion, self ignition or lightning
- Burglary, housebreaking or theft
- Riot and strike
- Earthquake (fire and shock damage)
- Flood, typhoon, hurricane storm, cyclone, hailstorm, frost
- Accidental external means
- Malicious act
- Terrorist activity
- Goods- in- transit by road, rail, inland-waterway, lift, elevator or air
- Landslide or rockslide

•	Personal accident cover: The motor Insurance provides compulsory personal accident cover for individual owners of the vehicle while driving. You can also opt for a personal accident cover for passengers.

•	Third party legal liability: Covers for legal liability arising due to accidental damages for - Any permanent injury/ death of a person - Any damage caused to the property

Sum Insured

Sum insured in a motor vehicle policy operates on the concept of Insured's Declared Value (IDV). IDV is calculated on the basis of the present day's showroom price of the vehicle multiplied by the depreciation rate that is set by the TAC at the commencement of each policy period.

If any electrical and / or electronic items is installed in the vehicle by the individual, and the amount for the same is not included in the manufacturer's showroom price, then the value of the item can be added to the sum insured over and above the IDV.

Policy Exclusions

•	Mechanical breakdown

•	Wear and tear

•	Consequential loss

•	Depreciation

•	Deliberate accidental loss

•	Intoxicated driving

•	Policy conditions (area, license etc)

•	Any contractual liability

•	Being used otherwise than in accordance with limitations as to use

•	Being driven otherwise than in accordance with driver's clause

•	Damages due to nuclear weapons material or war

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