ICICI Lombard is offering its customers add-on covers like zero depreciation add-on and consumable items add-on, for motor insurance
India’s largest private sector general insurance company ICICI Lombard General Insurance Co Ltd is offering customers unique add-on covers like zero depreciation add-on and consumable items add-on, for motor insurance.
“Motor insurance is the largest product category contributing almost more than 50% of ICICI Lombard’s gross retail premiums. Add-on covers like zero depreciation and consumable items are designed such that a customer paying full premium, gets a full claim too,” said Ajay Shah, head for customer service—motor, ICICI Lombard.
Through zero depreciation add-on, customers can limit their liability towards depreciation in case of an accident claim that might result in partial loss or damage to the insured vehicle, the company said, adding that customers would benefit from this add-on as they do not have to bear any cost of depreciation, which otherwise gets reduced from the claim amount at the point of claim settlement.
All customers have to do to enjoy complete cashless service at network garages, is to quote their policy details and they can get their vehicles repaired, ICICI Lombard said in a release.
The consumable items add-on covers unique coverage of consumable items like nuts and bolts, screws, washers, grease, lubricants, clips, air-conditioner gas, bearings, distilled water, engine oil, oil filters, fuel filters, and brake oil, it added.
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