ICML Extreme Car Insurance
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Purchasing your dream car, the powerful and stylish ICML Extreme marks an important milestone. You invest a significant amount of money to buy this beast of a machine. Now, it's imperative that you protect your prized possession in the event of unforeseen incidents or accidents. Comprehensive car insurance is key to safeguarding your ICML Extreme from financial losses. Read on to get a detailed understanding of why you need ICML Extreme insurance and how to get optimal coverage.
Why should you buy car insurance for ICML Extreme?
There are several important reasons why you must buy comprehensive car insurance coverage designed specifically for your ICML Extreme:
Legal Compliance
As per Indian motor vehicle laws, it is mandatory for all car owners to have at least basic third-party liability insurance before taking their cars on public roads. Driving without valid car insurance can attract heavy fines or even lead to imprisonment in some cases.
Financial Protection
Your ICML Extreme represents a substantial financial investment. In the unfortunate event of an accident, theft or damage due to weather conditions like floods, storms or lightning, you may incur heavy losses without adequate insurance. Comprehensive coverage shields you from major financial implications by covering repair costs and compensating for total losses.
Covers Third-Party Liabilities
Even the most careful driver can meet with an accident, causing damage to third-party property or life. As the owner, you can be held legally liable for such damages. A third-party liability cover protects you against any legal claims from third parties.
The most common types of car insurance for ICML Extreme
There are two prime insurance covers that cater specifically to the requirements of your ICML Extreme:
Third-Party Liability Insurance
Third-party car insurance cover is the basic compulsory insurance mandated by The Indian Motor Vehicles Act. It covers legal liabilities arising out of accidents caused by your ICML Extreme that lead to damage or bodily injury to a third party and their property. The compensation is paid out directly by the insurer. This policy does not cover any damage to your ICML Extreme. The coverage amount is limited, but it meets the legal requirement.
Comprehensive Insurance
Most ICML Extreme owners opt for comprehensive coverage as it offers wider protection. A comprehensive policy covers third-party liabilities along with coverage for damage to your own ICML Extreme due to events like collisions, accidents, natural disasters, malicious acts, theft, etc. It covers the cost of repairs and even the total loss or theft of the car. Comprehensive insurance ensures your prized possession gets complete protection.
What is Covered
What is not covered
What is covered in ICML Extreme car insurance? (Inclusions)
A comprehensive insurance policy covers the following for your ICML Extreme:
Third-party legal liabilities for property damage and bodily injury.
Damage to the insured ICML Extreme arising from accidents, collisions, overturning, etc.
Damage due to theft of the ICML Extreme or its parts.
Loss or damage from natural causes like floods, storms, lightning, earthquakes, etc.
Loss or damage from man-made causes like accidents, malicious acts, fire, explosion, burglary, theft, etc.
Thus, you get extensive coverage against a range of risks and uncertainties that can impact your ICML Extreme. Your asset stays protected against third-party claims as well as own damage.
What is not covered by ICML Extreme car insurance? (Exclusions)
While comprehensive insurance provides wide-ranging coverage, some types of losses are excluded. Being aware of the exclusions helps manage expectations from the policy:
Wear and tear over time or due to regular usage is not covered. For e.g. worn-out tyres, faded paint, etc.
Mechanical or electrical breakdown is excluded. e.g. gearbox failure, electrical short circuit, etc.
Damage caused when driving under the influence of alcohol or drugs is not covered.
Losses occurring outside the geographical limits defined in the policy.
Intentional damage inflicted by policyholders is excluded.
Consequential losses, depreciation and loss of use are not covered.
Subject to the above standard exclusions, you can get your ICML Extreme insured against most thinkable risks.
Add-ons for ICML Extreme car insurance
You can upgrade your ICML Extreme's insurance protection by opting for useful add-ons at a nominal extra cost. Popular add-ons include:
Zero Depreciation Cover - Waives off any deduction towards depreciation on parts.
Invoice Price Cover - Enhances sum insured to full invoice value instead of IDV.
Engine Protection - Covers engine and gearbox against damage.
Key Replacement - Covers cost of replacing car keys if lost or stolen.
Consumables Cover - Covers expenses of oil, lubricants, nuts/bolts, etc.
Roadside Assistance - Provides towing facility and on-road repairs if a breakdown occurs.
These add-ons fill crucial gaps in the standard insurance coverage for additional peace of mind. You can even add an accessories cover for non-built in-car accessories.
Benefits of buying ACKO car insurance for your ICML Extreme
ACKO offers specially designed car insurance policies for the ICML Extreme owner with many beneficial features:
No Paperwork: The entire policy process, from purchase to claims, is 100% digital without any paperwork.
Lower Premium: ACKO passes on the cost-benefit of zero commission to middlemen by offering lower premiums.
Cashless Claims: Hassle-free repairs at network garages through cashless settlement.
Fast Claim Processing: Digital claim procedures enable faster turnaround time for claim processing and settlement.
Expert Support: Dedicated assistance from experts for buying/renewing policy as well as guidance on claims.
Add-on Customization: Choose from a range of add-ons to enhance your coverage as per specific needs.
Ease of Renewal: Renew your ICML Extreme's insurance at the click of a button without paperwork.
How to Buy/Renew ICML Extreme Insurance from ACKO
Follow these quick and simple steps:
Visit the ACKO website or download the mobile app.
Enter your ICML Extreme's registration number and some basic details.
Choose your preferred insurance plan - third-party or comprehensive.
Select additional add-on covers needed to enhance protection.
Premium is calculated and displayed upfront. Review coverage and proceed to payment.
Payment can be made conveniently via debit/credit card, net banking or UPI.
Policy documents are instantly emailed to your registered email ID.
When your existing policy is up for renewal, repeat the above steps seamlessly online to renew the policy.
4 Easy Steps to Raise a Claim
ACKO has simplified the claim settlement process:
Intimate claim via ACKO website, app or call centre.
Provide necessary details like FIR, details of damages, repair estimates, etc.
If required, an authorised surveyor inspects the ICML Extreme and submits an assessment report.
The claim is processed as per policy terms, and settlement payment is made digitally to your bank account.
With ACKO, you can initiate and track claims 24/7 from anywhere without paperwork. Your ICML Extreme gets back on the road speedily.
Conclusion
We highly recommend buying comprehensive coverage for your valued ICML Extreme to safeguard you from financial losses. Choose ACKO for its unmatched convenience, lower premiums and smoother claims. Renew with just a few clicks and make claims transparent and hassle-free. Protect your prized possession optimally by insuring your ICML Extreme with ACKO!
Frequently Asked Questions on ICML Extreme Car Insurance
FAQs
What documents do I need when buying ICML Extreme insurance for the first time?
You will need your KYC documents (identity/address proof), previous policy copies if any, invoice copy, RTO registration papers, and PUC certificate. If hypothecated, you need an NOC from the financer. However, you need not submit any documents while buying car insurance from ACKO.
How do I transfer my ICML Extreme's insurance when selling the car to a new owner?
Submit a request for transfer of insurance to your insurer along with transfer papers. A nominal fee may be charged. The policy will be transferred after due verification.
How do insurers settle a total loss claim for my ICML Extreme?
The insurer declares it a total loss if the repair cost exceeds 75% of the IDV. The claim is settled by paying IDV after deducting salvage value, subject to terms.
What is the procedure to get my modified ICML Extreme insured?
Inform the insurer about modifications like engine tuning, body kits, etc. Submit bills and get the required addons endorsed to ensure full protection.
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