ICICI Lombard Private Car Package Policy

Under this Add-on, the company will pay the full claim without any deduction for depreciation in the event of an accident. (Excludes Tyres and Batteries)

Under this Add-on, the company covers for the expenses incurred on repair or replacement due to consequential damages arising out of water ingression/leakage of lubricating oil leading to a loss or damage to:

• Engine Parts
• Differential Parts
• Gearbox Parts of the insured’s vehicle.

Under this cover, the Insurer will compensate the Insured for the following:
1) Repair or replacement of the internal child parts of the engine such as pistons, piston rings, piston pins, connecting rods, crank shaft, valves, valve seat / guides, nuts & bolts related to engine assembly, engine oil, gasket, sealant and cylinder head.
2) Repair or replacement of the internal parts of the gearbox such as gears or shafts in the gear box housing, bearings, gear oil & gaskets.
3) Labour cost incurred by the Insured to overhaul the damaged engine and/or gear box.
4) Engine cylinder re-boring, compression tests & other machining charges.

Specific Conditions:

Claims under this cover would be admissible if:
1) There is an evidence that the Insured Vehicle stopped in water logged area resulting in damage to the internal parts of the engine and/or gear box due to water ingression.
2) There is an evidence of an under carriage damage to the engine and/or gearbox leading to an oil leakage and resulting into a damage to the internal parts of the engine and/or gearbox.

Your Obligations:

1) The Insured should not try to crank or push start the engine once the Insured Vehicle has stopped in the water logged area or undercarriage is damaged.

Specific Exclusions:

Company will not be liable to indemnify the Insured for the following:
a) Any claims where the subject matter of claims is covered under any other type of insurance policy with any other insurer or manufacturer’s warranty including recall campaign or under any other such packages at the same time.
b) Cost of lubricants in case of loss due to leakage and flushing of consumables.
c) Any claim which is intimated to the Company after 30 days of the happening of the loss or damage.
d) Any claim where the repair has been carried out without a prior approval from the company.
e) Any claims related to loss or damage due to wear and tear.

Under this Add-on, In the event of Total Loss (TL) or a Constructive Total Loss(CTL), apart from the IDV, the difference between the invoice price (including the first time registration and stampduty charges) and the IDV is payable under this Add-on.

Specific Conditions:

• One must keep copy of Purchase invoice for getting benefit under this Add-on .
• In case a copy of the Purchase Invoice is not available, the Purchase Invoice Price of the vehicle will be calculated as below:
  Purchase Invoice Price = IDV/ (1-Depreciation% as defined below as per the age of The insured vehicle)

Under this Add-on the “No Claim Bonus” earned on the policy regardless of a claim on the Insured vehicle gets retain.

There are two options available with this Add-on
1) One step Down – Under this option, the No claim bonus earned on the policy gets reduced to one slab lower of the percentage earned during the last year on the policy even if there are 3 claims reported during the policy year.
2) Two step down – Under this add-on, the no claim bonus earned on the policy gets reduced to two slabs lower of the percentage earned during last year on the policy even if there are 3 claims reported during the policy year.

Special Condition –

The NCB will become NIL if more than three claims are made during the same policy period.

Under this Add on, Company will pay for the consumable items such as nut, bolt, screw, washers, grease, coolants, lubricants, engine & other oils, clips, ac gas, bearings, battery water, filters, sealants, gaskets, etc.

Consumable Items shall mean those articles or substances which have specific uses and when applied to their respective uses are either consumed totally or are rendered unfit for continuous and permanent use. Such Consumable Items may but not limited to include fuel.

Specific Conditions:

Claim under this section is payable only if the base of the policy is admissible and payable.

Under this Add-on, company will pay for the loss of his personal belongings on account of damage to or theft from the insured vehicle.

There are two options under this Add –on
1) Loss of Personal Belongings Excluding Mobiles & Laptops
2) Loss of Personal Belongings Including Mobiles & Laptops

Common Conditions

1. A deductible of Rs. 500 would be applicable for each claim under this add on except when the claim is being made only for Mobile Phones and/or Laptops.
2. A First Investigation Report (FIR) is registered with the Police for such loss.
3. Any Amount more than the market value of the mobile phones or laptops as stated at the time of Policy issuance will get deducted appropriately for depreciation as per section 32 of Income Tax Act.

Common Exclusions –

1. Any loss in open top or convertible cars unless the belongings are kept in the locked boot.
2. Any loss of money, securities, cheques, bank drafts, credit or debit cards, jewelry, gems, stones, contact lens, glasses, travel tickets, watches, valuables, manuscripts, paintings, work of art.
3. Any loss of the personal belongings unless the insured’s vehicle is locked and all doors & windows are properly fastened while unattended.
4. Any loss or damage to the belongings carried in connection with any trade or business.
5. Any theft from Insured vehicles parked in the No-Parking zone and from an un-attended Insured vehicle after an accident.
6. Any claim for a laptop/mobile phone not declared at the time of the policy issuance.
7. Any claim intimated to company after 30 days of such loss.

Under this Add-on, Company will pay to the insured, a daily allowance for each and every completed day for which the vehicle is under repair in the garage due to a loss/damage covered under Standard Motor Package Policy.

Common Conditions – :

1. Any claim has to be admissible under the base policy.
2. The insured vehicle has to be under repair for a minimum number of days as stated in the policy schedule, post which the claim under this add-on will be payable from the day the insured vehicle was delivered to the garage.
3. In theft case, the insured vehicle is not recovered within 90 days from the day of theft.
4. Not more than three claims will be payable under this add-on.
5. Claim under this add-on has to be intimated within 24 hours for a loss or damage.
6. The insured vehicle has to get repaired in authorized garages of the company.
7. The claim under this add-on is payable by the company from the day the insured vehicle is delivered to the garage till the day immediately preceding the date of discharge or date of invoice for such repair prepared by the garage, whichever is earlier.

Common Exclusions –

1. The company will not pay for any additional amount for the specific accidental loss or damage once the insured vehicle is removed from the garage.
2. Company will not be liable for any delays on account of –
a) Delay of more than 24 Hrs, in delivering insured vehicle to the garage from the time of occurrence of accidental damage or loss.
b) If the spare parts are not available for repair.

Under this Add-on, the company will pay the insured for the cost incurred towards repairing/replacing the car keys and / or locks and/ or lockset, including locksmith charges, upon the occurrence of theft/burglary/ loss of or damage to the keys and /or lock and /or the lockset of the Insured’s vehicle, during the Policy Period.

Common Conditions –

1. Not more than two claims would be payable under this add-on for a Policy period.
2. A claim deductible of 1 % of the admissible claim amount would be applicable for each claim subject to a minimum of Rs. 250.
3. First Investigation Report (FIR) is mandatory in case if the claim is registered from burglary or theft.
4. The replaced keys/ lock/ lockset should be of same nature and kind as the one for which the claim is being made.
5. Any loss or damage to the keys/ lock/ lockset is reported to the company within 30 days of such loss or damage
6. Replacement of key(s) only would be done only for broken or damaged keys. In case of theft of key(s), entire set comprising of key, lock and lockset would be replaced.

Common Exclusions –

1. Any claim within the first 5 days of the happening of loss. However, in cases related to theft/burglary, this exclusion would not be applicable.
2. Any damage/ loss to keys/lock/lockset due to malicious activities, any deliberate or criminal act.
3. Any loss or damage to the lock or lockset prior to the loss or theft of keys and any loss or damage to the lock only.
4. Any loss or damage covered under the manufacturer’s warranty.
5. Any claim where the insured is not liable to provide the invoices/receipts for the payments made.
6. Any loss or damage caused by radiation, radioactive contamination or the hazardous properties of any explosive, corrosive, invasive or toxic substances or material.
7. Any loss or destruction of, or damage to, any part of the insured’s vehicle other than keys, associated lock, ignition system, any immobilizer, infra-red handset and /or alarm attached to the fob.
8. Any loss or damage caused by war, invasion, foreign enemy hostilities, civil war, terrorism, rebellion, revolution, military force, or the actions of any lawful government or public or local authority.
9. Any kind of consequential loss.