Is theft covered under standalone own-damage insurance?

Theft may be covered when it meets the policy conditions. Check the policy wording for claim documentation, notification requirements and settlement provisions.

Are add-ons included automatically?

Do not assume add-ons are included. Confirm which optional covers, if any, are offered for your vehicle and shown in the final quote and policy schedule.

ICICI Lombard Standalone Own-Damage Two-Wheeler Insurance

Standalone Own-Damage Two-Wheeler Insurance Overview

Standalone Own-Damage Two-Wheeler Insurance is designed to cover eligible damage to your insured motorcycle or scooter. Depending on the policy wording, covered events may include accidents, fire, theft, natural calamities and specified external-impact risks. It is different from comprehensive insurance because standalone own-damage cover does not itself provide third-party liability protection. The owner must maintain the required separate third-party insurance. Availability, exclusions, deductibles and claim conditions are governed by the issued policy schedule and wording.

Protection against covered accidental damage, theft and specified external risks

Expert Review of Standalone Own-Damage Two-Wheeler Insurance

Consider this cover when your main requirement is protection for your own vehicle and you already have valid third-party insurance. Before buying, compare the insured declared value, compulsory and voluntary deductibles, repair and settlement conditions, cashless garage availability and any optional covers actually offered in the quote. Premium is vehicle-specific, so a generic starting price should not be treated as a confirmed quote. Verify the current policy wording and product availability with ICICI Lombard before publishing a final purchase recommendation.

Pros

Provides a dedicated own-damage option for owners who maintain separate third-party insurance.
Can protect against eligible accidental damage and theft-related losses.
Vehicle-specific quotes allow premium assessment against the insured vehicle and selected cover.

Cons

Does not replace the legally required third-party liability policy.
Premium and claim settlement depend on vehicle details, IDV, deductibles and policy conditions.
Not every repair, mechanical failure or wear-related expense is covered.

About ICICI Lombard (Insurer Profile)

ICICI Lombard

Key Insights

Founded

2001

ICICI Lombard was established 25 years ago and has built strong credibility over time, backed by its long-standing presence in the market.

Claims Experience

97.9% CSR, calculated as a 3-year average

ICICI Lombard settles 97.9% of all claims it receives, demonstrating strong credibility.

Contact Details

1800 2666

Headquarters: ICICI Lombard House, 414, Veer Savarkar Marg, Near Siddhi Vinayak Temple, Prabhadevi, Mumbai - 400025, India

Standalone Own-Damage Two-Wheeler Insurance Features and Benefits

Accidental Damage

Covers eligible accidental damage to the insured two-wheeler as specified in the policy wording.

Claim approval depends on policy terms, deductibles and assessment.

Theft of Insured Vehicle

Provides cover for covered theft of the insured vehicle, subject to policy conditions and required claim documents.

Settlement is subject to investigation and policy provisions.

Fire and Explosion

Eligible loss or damage caused by fire or explosion may be covered under the policy.

Refer to the issued policy wording for applicable conditions.

Natural Calamities

Covered damage arising from specified natural events may be included, subject to the contract.

The precise covered events and exclusions are policy-specific.

External Impact Damage

Eligible damage caused by specified external accidental events may be covered.

The cause of loss must fall within the policy coverage.

IDV-Based Claim Settlement

The insured declared value is an important factor in determining the maximum payable amount for total loss or theft, subject to policy terms.

IDV is not necessarily the payout for every partial-damage claim.

What Standalone Own-Damage Two-Wheeler Insurance Does Not Cover (Exclusions)

Conditions or treatments that the policy clearly says it will not cover.

Normal wear and tear, ageing and depreciation-related loss are generally not covered as standalone damage events.
Mechanical or electrical breakdown not caused by an insured event may be excluded.
Loss arising while riding in breach of applicable licence, use or policy conditions may be excluded or restricted.

Disclaimer: For illustration purposes only - exact terms are in the policy wording.

What's missing in Standalone Own-Damage Two-Wheeler Insurance

Confirm whether a no-claim bonus applies and how it is affected by a claim under the offered policy.
Check the applicable compulsory deductible, any voluntary deductible and depreciation treatment before purchase.
Confirm the current cashless garage network and whether any selected optional covers are available for this vehicle.

Standalone Own-Damage Two-Wheeler Insurance FAQs

What is standalone own-damage two-wheeler insurance?

It is cover for eligible damage to your own insured motorcycle or scooter. It does not itself provide third-party liability cover, so separate valid third-party insurance is required.

Does this policy cover third-party injury or property damage?

Standalone own-damage cover does not provide third-party liability protection. Maintain a separate valid third-party policy as required by law.

How is the premium calculated?

The quote may depend on the vehicle make and model, age, location, insured declared value, selected cover and applicable deductibles. Check the insurer’s current quote for the actual premium.