What Is ICICI Lombard Third Party Car Insurance Policy? Coverage & Cost

Car insurance is a legal requirement in India, and third-party insurance is the most basic form of it. If you own a car, you must have at least third-party insurance to drive legally on Indian roads. One trusted option in this category is the ICICI Lombard Third Party Car Insurance Policy.

In this blog, we will explain what this policy is, what it covers, how much it costs, its benefits, and why it is important. The language is simple and easy to understand, so you can make the right choice with confidence.

What Is ICICI Lombard Third Party Car Insurance Policy?

The ICICI Lombard Third Party Car Insurance Policy provides financial protection if your car causes damage or injury to another person or their property. It does not cover damage to your own car.

This type of insurance is mandatory as per the Motor Vehicles Act in India. Driving without third-party insurance can result in heavy fines or legal trouble.

This policy helps you stay legally compliant and financially protected against third-party claims.

What Does Third-Party Insurance Mean?

Third-party insurance means coverage for:

  • Injury to another person
  • Death of a third person
  • Damage to third-party property

Here, "third party" refers to anyone other than you and your car. For example, a pedestrian, another driver, or someone else’s vehicle.

Coverage Offered by ICICI Lombard Third Party Car Insurance Policy

Let us understand the coverage in detail:

1. Third-Party Bodily Injury

If your car causes injury to someone, this policy covers:

  • Medical expenses
  • Compensation as decided by court

This helps you avoid heavy financial burden.

2. Third-Party Death Cover

If an accident leads to the death of a third person, the policy provides compensation to their family as per legal guidelines.

3. Third-Party Property Damage

If your car damages someone else’s property, the policy covers repair or replacement costs up to the limit set by the insurer.

4. Legal Liability Cover

The policy also covers:

  • Court cases
  • Legal expenses

This protects you from legal stress.

What Is Not Covered?

The ICICI Lombard Third Party Car Insurance Policy does not cover:

  • Damage to your own car
  • Theft of your vehicle
  • Natural disasters
  • Man-made disasters
  • Driving under alcohol or drugs
  • Driving without a valid license
  • Mechanical or electrical breakdown

If you want coverage for your own car, you should choose a comprehensive policy.

Cost of ICICI Lombard Third Party Car Insurance Policy

The cost of third-party insurance is fixed by the Insurance Regulatory and Development Authority of India (IRDAI). It depends on:

  • Engine capacity (cc)
  • Type of vehicle

Here is a general idea:

For Petrol/Diesel Cars:

  • Up to 1000 cc – Lower premium
  • 1001 cc to 1500 cc – Medium premium
  • Above 1500 cc – Higher premium

For Electric Cars:

Premiums are usually lower compared to fuel cars.

The exact premium can change every year based on IRDAI guidelines.

Factors Affecting Third-Party Insurance Cost

  • Engine size
  • Type of fuel
  • Age of vehicle
  • Location
  • Government rules

Since this premium is regulated, it remains the same across all insurers.

Benefits of ICICI Lombard Third Party Car Insurance Policy

Here are the main benefits:

1. Legal Compliance

Helps you follow Indian traffic laws and avoid fines.

2. Financial Protection

Covers heavy compensation claims that could affect your savings.

3. Affordable Premium

Third-party insurance is cheaper compared to comprehensive plans.

4. Trusted Insurer

ICICI Lombard is one of India’s leading insurance companies.

5. Easy Online Purchase

You can buy or renew your policy online within minutes.

Who Should Buy This Policy?

This policy is ideal for:

  • Old car owners
  • People who drive less
  • Those looking for low-cost insurance
  • People who only want legal compliance

If your car value is low, this policy can be a good choice.

How to Buy an ICICI Lombard Third-Party Car Insurance Policy Online?

Follow these simple steps:

  1. Visit the ICICI Lombard website
  2. Click on car insurance
  3. Enter vehicle details
  4. Select third-party policy
  5. Check premium
  6. Make payment
  7. Download policy

The policy is issued instantly.

Documents Required

You need:

  • Vehicle registration number
  • Previous policy details (if any)
  • Basic personal details

No paperwork is required.

How to Renew the Policy?

Renewing is simple:

  1. Visit website
  2. Enter policy number
  3. Check renewal premium
  4. Make payment
  5. Download the renewed policy

Renew before expiry to avoid fines.

How to File a Claim?

If you face a third-party claim:

  1. Inform ICICI Lombard immediately
  2. Register claim online or via app
  3. Submit required documents
  4. Follow the legal process
  5. The claim is settled

Documents Required for Claim

  • Policy copy
  • Driving license
  • RC of the vehicle
  • FIR copy (if needed)
  • Court notice (if any)

Third-Party vs Comprehensive Insurance

Third-Party Car Insurance

  • Legal Cover – Yes
    This policy fulfills the legal requirement to drive a car in India. It protects you against third-party claims.

  • Own Car Damage – No
    It does not cover any damage to your own vehicle in case of an accident.

  • Theft Cover – No
    If your car gets stolen, you will not get any claim amount.

  • Add-ons – Not Available
    You cannot add extra covers like zero depreciation or engine protection.

  • Cost – Low
    This is the cheapest type of car insurance, making it budget-friendly.

Comprehensive Car Insurance

  • Legal Cover – Yes
    It also meets the legal requirement for third-party insurance.

  • Own Car Damage – Yes
    Covers repair costs if your car is damaged due to accidents, fire, or disasters.

  • Theft Cover – Yes
    Provides compensation if your car gets stolen.

  • Add-ons – Available
    You can add covers like zero depreciation, roadside assistance, and engine protection.

  • Cost – Higher
    The premium is higher because it offers wider protection.

If you want full protection, choose comprehensive insurance.

Why Choose ICICI Lombard?

ICICI Lombard is preferred because:

  • Strong claim process
  • Trusted brand
  • Online services
  • Customer support
  • Clear policy terms

Common Mistakes to Avoid

  • Letting policy expire
  • Entering wrong details
  • Not reading the terms
  • Assuming own car damage is covered

Always check policy details carefully.

Is Third-Party Insurance Enough?

Third-party insurance is legally required but limited. It does not protect your own car. If your car is new or valuable, it is better to buy comprehensive insurance.

Conclusion

The ICICI Lombard Third Party Car Insurance Policy is a basic and affordable option to meet legal requirements. It protects you from third-party claims and legal troubles.

If you want a low-cost policy and your car is old, this policy is a good choice. But if you want full protection, consider upgrading to a comprehensive plan.

Always renew on time and drive safely. A valid insurance policy keeps you protected and stress-free on the road.

Frequently Asked Questions (FAQs)

Q.1. What is the ICICI Lombard Third Party Car Insurance Policy?

ICICI Lombard Third Party Car Insurance Policy provides coverage for injury, death, or property damage caused to a third person due to your car. It does not cover damage to your own vehicle.

Q.2. Is third-party car insurance mandatory in India?

Yes, as per Indian law, every car owner must have a valid third-party insurance policy to drive legally on the road.

Q.3. How much does an ICICI Lombard Third Party Car Insurance Policy cost?

The premium is fixed by IRDAI and depends on your car’s engine capacity. It is the same across all insurance companies.

Q.4. Can I buy this policy online?

Yes, you can easily buy an ICICI Lombard Third Party Car Insurance Policy online through the official website or trusted platforms.

Q.5. How can I renew my third-party policy?

You can renew online by entering your policy number, checking the premium, and making a payment. Your renewed policy will be issued instantly.

Q.6. Why should I buy an ICICI Lombard Third Party Car Insurance Policy through SquareInsurance?

Buying through squareinsurance gives you:

·       Expert policy guidance

·       Easy comparison

·       Claim assistance

·       Smooth buying experience

We help you choose the right policy based on your needs and budget.

Special Note

To make insurance buying and management simple, download our mobile app:
"Square Insurance POS – Apps on Google Play"

 

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