Car Insurance

Your car is more than just a vehicle it is an essential part of your daily life. While third-party insurance is mandatory, an online comprehensive car insurance plan offers broader protection against accidents , theft, natural disasters, and even personal injury. ICICI Lombard’s online car insurance policies start at just ₹2,094 per year, covering own damage and personal accident claims. With a network of over 6,600 cashless garages and an easy claims process via the IL TakeCare app, getting back on the road after an incident is hassle-free. Drive with confidence, knowing that your car—and your peace of mind are well taken care of.

Car Insurance

Car Insurence

Different types of car insurance policies

This is the most basic and mandatory car insurance policy under the Motor Vehicles Act, 1988. It protects you against financial liabilities arising due to injury, death, or property damage caused to a third-party in an accident involving your car.

A complete protection plan that covers both third-party liabilities and own vehicle damages due to accidents, theft, fire, or natural calamities. It ensures maximum safety and peace of mind while driving.

Standalone Own Damage Insurance is the ideal plan if you already have a mandatory Third-Party Insurance but want extra protection for your own car. It ensures that you don’t have to bear heavy repair costs due to accidents, theft, or unforeseen disasters. With customizable add-ons, you can make the policy more powerful according to your needs.

Car insurance for EVs

Car insurance for electric vehicles (EVs) helps cover the cost of repairs if your EV is damaged by natural events like floods or storms, or by man-made incidents like accidents or vandalism. Just like regular car insurance, it also covers third-party liabilities as per the policy terms. If you own an EV, this cover can protect you from high repair costs and keep your vehicle on the road. As electric cars become more popular, knowing about EV-specific cover can help you choose the right protection for your vehicle.

What factors impact Insured’s Declared Value (IDV)?

IDV in car insurance plays a key role in determining your car insurance price

In a car insurance policy, the Insured’s Declared Value (IDV) is the fixed value at which we insure your vehicle. We calculate the policy sum insured based on the manufacturer's listed selling price of the vehicle + the listed cost of any accessories. We derive the amount after deducting the depreciation for every year as per the Indian Motor Tariff.

Suppose you have installed any electronic item in the car, which is not included in the manufacturer's listed selling price. In that case, we add the actual value (after depreciation) of the item to the policy sum insured over and above the IDV.

How can you save on your car insurance premium +

No matter what type of car you drive, certain discounts can bring down your car insurance price -

No Claim Bonus in Car Insurance

If you made no claims in the past years, you get up to 50% NCB.

Security measures

If you’ve taken special measures to keep your car from getting stolen, you are eligible for a discount on your car insurance premium. Typically, you would receive a 2.5% discount for fitting an anti-theft device (approved by ARAI) on your car.

It is unwise to reduce IDV to save on premium. In case of an accident, you would find yourself at a disadvantage. Instead, ride safe and take security measures to get discounts on car insurance.