Saturday, December 1, 2007
Motor Plans
Car Insurance
A comprehensive policy that not only covers you against third party but also against accidents, damage, injury and much more.
Car Insurance - Introduction
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).
Policy Details
Policy Coverage
Our Motor insurance Policy is governed by the Indian Motor Tariff. It covers you for:
 | Loss or damage to your vehicle: The policy covers you against any loss or damage caused to the vehicle or its accessories due to the following natural and man made calamities. Natural Calamities – Fire, explosion, self-ignition or lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide, rockslide. Man made Calamities – 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. The rates of the vehicle and its parts are subject to depreciation as per the provided by the Indian Motor Tariff. |
| Personal accident cover: The motor insurance provides compulsory personal accident cover of Rs. 2 lakhs for individual owners of the vehicle while driving. You can also opt for a personal accident cover for passengers. |
| Third party legal liability: This protects you against legal liability arising due to accidental damages - Any permanent injury/ death of a person - Any damage caused to the property. |
Key Benefits
| You can claim towing charges up to Rs 1,500 |
| Cashless claim settlement at all across India. |
| Avail of the following bonuses and discounts - 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%. (NCB will only be allowed provided the policy is renewed within 90 days of the expiry date of the previous policy.) Transfer your NCB: You can transfer full benefits of No Claim Bonus when you shift your motor insurance policy from another company to ICICI Lombard. The discount rate remains the same, provided you show evidence that you are entitled to No Claim Bonus from your previous motor insurance company. Evidence can be in form of
Voluntary Excess discount: A further discount on the premium is available if you opt for a Voluntary Excess in addition to the Compulsory Excess. (Compulsory Excess is the amount of loss which the insured has to bear in each and every claim.) Additional discounts: You can also avail of additional discounts if you are a member of a recognized Automobile Association in India. ARAI devices: In case you have installed ARAI approved anti theft device in your vehicle, you get a discount of 2.5 % on the OD Premium to a maximum of Rs. 500. |
| Cover yourself and your family: You can also opt for personal accident cover of Rs. 2 Lakhs for other unnamed passengers in your car. For e.g. your family, relatives, friends etc. |
| Customise your insurance with additional covers: Electrical and/ or non-electrical items fitted to the vehicle can be insured separately. For example: fog lights, music system, seat covers. In case of vehicles fitted with bi-fuel system such as Petrol/ Diesel and CNG/ LPG, permitted by the concerned RTO, the CNG/LPG kit fitted to the vehicle is to be insured separately at an additional premium of 4% on the value of such kit. You need to specifically declare this in the proposal form. |
Motor Claim Procedure
In case of motor insurance claim, you can avail cashless facility for the repair of your car in any of our All India Cashless Garage List. However, If the car is serviced in a garage ouside the purview of our network, then you can claim reimbursement for the same.
In Case of an Accident
| Note the number of the other vehicle involved in the accident, if any. |
| Jot down the names and contact details of witnesses, if any. |
| Contact our 24X7 call centres. Get your claim number / reference number. Call centre representative will provide you the details of documents required for claim processing and also details of our preferred garage, where cashless repair facility can be availed. |
| File an FIR at the nearest police station in case of property damage, bodily injury, theft and major damages. |
After Registering the Claim
| Our customer service manager will contact you within 24 hours of registering the claim. |
| Submit the copy of documents to the dealer / CSM and get verified with the originals. |
| Our CSM will get the estimate for the repairs of your vehicle and give spot approval after assessment. |
| After completion of repair at our preferred garage we will make payment of our share of the loss directly to the garage. |
| The insured to pay the excess mentioned in the policy and depreciation, salvage etc informed by the CSM.
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Monday, November 26, 2007
Is the insurance plan refundable should I leave the country during its validity
Some insurance plans do refund money if given enough advance notice, however since travelers insurance is typically for a short duration, they are often not refundable. If this situation is a concern for you, you should look out for insurance plans which are renewable. Such plans are available among the plans listed in our comparison engine.What is the proof of my purchasing insurance?
How do I purchase the insurance? When does the insurance take effect?
Purchasing insurance online is very simple. From our , you can click on the 'Buy' button in the first column. This leads you to the appropriate online application form. You have to complete the appropriate online application form and you will immediately receive an email acknowledgement which is the virtual ID card. The coverage will start from the start date as indicated on the form. Within a week you will receive a package from the insurance company, which will include the insurance card and a hard copy with details regarding the insurance plan.Purchasing insurance online is very simple. From our , you can click on the 'Buy' button in the first column. This leads you to the appropriate online application form. You have to complete the appropriate online application form and you will immediately receive an email acknowledgement which is the virtual ID card. The coverage will start from the start date as indicated on the form. Within a week you will receive a package from the insurance company, which will include the insurance card and a hard copy with details regarding the insurance plan.
Can I purchase insurance for only part of the stay of my parents in the US?
Yes you can purchase for only partial duration of the entire stay. However the purpose of purchasing insurance is in the event of unanticipated medical emergencies. One can never be sure when such an emergency can happen. Having purchased insurance for part of their stay will not help in the event of an emergency during the uninsured period.
Visitor Travel Health Insurance FAQ - 1
Why should I purchase insurance with an American company and not buy insurance in my native country?
Fixed Benefits Plan (Scheduled Benefits Plan)
These policies are characterized by various benefit limits for each type of covered medical expense. These benefit limits typically are not the same as the policy maximum.For example, a policy with a $50,000 maximum limit may feature upto a maximum of $2000 for surgery, upto a maximum of $500 for diagnostic services (X-rays, scans) etc. The maximum amounts for different situations are detailed in the policy brochure.
Typically you are required to pay an initial deductible for each injury or sickness and then the plan pays for the rest of the covered expenses.
Scheduled Benefits Plans have the lowest premiums, but the consumer must be aware that the benefits offered are relatively limited as compared to the Comprehensive Coverage Plans.
Examples of Scheduled Coverage Plans include 'Inbound USA' underwritten by Lloyds and 'Visitors Care' underwritten by Sirius International.
Comprehensive Coverage Plan
These policies typically do not have benefit limits based on the type of medical expense. Usually benefits for covered medical expenses go all the way upto the policy maximum (less deductible and co-insurance).Typically for all covered medical expenses during the policy period the insured pays the deductible plus 20% of the first $5,000; and then the plan pays 100% of the eligible medical expenses upto the policy maximum.
The details for each policy such as the policy maximum, medical expense eligibility etc. are listed in the policy brochure.
Comprehensive Coverage Plans have relatively higher premiums, but in turn offer better benefits than the Scheduled Benefits Plans.
Examples of Comprehensive coverage plans include 'Diplomat America', 'Atlas America', 'Liaison International' and 'Patriot America'.
Visitor Travel Health Insurance FAQ Disclaimer
NRIOL has tried to answer these frequently asked questions to the best of our knowledge. However we make no guarantee regarding the accuracy of our answers. The exact answers for some of the questions can change periodically as insurance companies change their policies. NRIOL is not liable for any problem resulting from the content on this FAQ.
Visitor Travel Health Insurance questions, comments, suggetions, inquiries about this site, please to contact us!
Why should I purchase insurance with an American company and not buy insurance in my native country?
It is advisable to have insurance from an American company while in the United States, even if the premium for these plans are more expensive. The reason is that while almost all Doctors/hospitals in the United States accept American insurance company cards, they will be reluctant to acknowledge overseas insurance coverage. The medical office can easily contact an American insurance company for clarification, while the same will not be true for an overseas insurance company. Typically medical offices in the US will bill directly to known American insurance companies. For overseas insurance companies you most probably will have to pay the bill, and then try to get the claim reimbursed from the insurance companThere is such a wide array of choices between insurance plans offered by different companies. How do I know what to purchase?
It is precisely to help you make this decision that we built our insurance comparison facility. Using NRIOL's , you can evaluate different plans based on their cost, the deductible and their rating. This will help you identify the plan that best suits for your needs.When should I purchase the insurance?
You should purchase the insurance only after being certain of your travel plans (having the passport/visa papers and the airline tickets in order). It is safest to start the insurance coverage from the date of departure from your native country.
My parents are not yet here, can I purchase insurance for them in their absence?
Why should I purchase insurance with an American company and not buy insurance in my native country
It is advisable to have insurance from an American company while in the United States, even if the premium for these plans are more expensive. The reason is that while almost all Doctors/hospitals in the United States accept American insurance company cards, they will be reluctant to acknowledge overseas insurance coverage. The medical office can easily contact an American insurance company for clarification, while the same will not be true for an overseas insurance company.Typically medical offices in the US will bill directly to known American insurance companies. For overseas insurance companies you most probably will have to pay the bill, and then try to get the claim reimbursed from the insurance company.
There is such a wide array of choices between insurance plans offered by different companies. How do I know what to purchase?
It is precisely to help you make this decision that we built our insurance comparison facility. Using NRIOL's , you can evaluate different plans based on their cost, the deductible and their rating. This will help you identify the plan that best suits for your needs.When should I purchase the insurance?
You should purchase the insurance only after being certain of your travel plans (having the passport/visa papers and the airline tickets in order). It is safest to start the insurance coverage from the date of departure from your native country.
Is the insurance plan refundable should I leave the country during its validity?
Some insurance plans do refund money if given enough advance notice, however since travelers insurance is typically for a short duration, they are often not refundable. If this situation is a concern for you, you should look out for insurance plans which are renewable. Such plans are available among the plans listed in our comparison engine.What is the proof of my purchasing insurance?
When you purchase insurance online, you will immediately receive a confirmatory email with details of the insurance. This is the virtual insurance card, and it is prudent to print this and to keep a backup of this email. You will also receive an insurance card from the insurance company by mail. This card will have your name, policy number, group number, insurance company's contact information such as the toll-free telephone number and the address where claims should be submitt
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