Add-ons are additional coverage benefits which can be chosen voluntarily by paying an additional premium. Add-ons help increase the scope of coverage of the Car insurance policy. ICICI Lombard Car insurance plans offer the following types of add-ons with the comprehensive policy:
Features Of ICICI Lombard Car Insurance Plans
Exclusions Under ICICI Lombard Car Insurance Plans
Customer Care Number
Email ID
Latest Articles On ICICI Lombard
FAQs
The Insured Declared Value in a bike insurance plan is calculated after deducting the market value of the bike with depreciation based on its age. The rate of depreciation has been specified by the IRDAI and is as follows
Age of the bike | Depreciation rate |
Up to 6 months | 5% |
More than 6 months but less than 1 year | 15% |
More than a year but less than 2 years | 20% |
More than 2 years but less than 3 years | 30% |
More than 3 years but less than 4 years | 40% |
More than 4 years but less than 5 years | 50% |
The corresponding rates are deducted from the market value every year to arrive at the IDV of the policy.
Error: Contact form not found.