ICICI Lombard General Insurance Company Limited

At ICICI Lombard, customer centricity is the cornerstone of its culture. Stretching themselves and going beyond the ordinary, for the satisfaction and smiles of its customers, is deeply embedded in its DNA. Whether its customers face an untoward incident due to the unpredictability of nature, suffer losses due to accidents or face medical challenges, ICICI Lombard General Insurance Company Limited remains committed to be at their side and serve them in their hard times.

The 2015 Chennai floods affected the lives of hundreds of people and caused widespread damage. In the face of such unexpected events, its team continues to work towards its goals without losing focus. Reaching out and reassuring customers by going the extra mile, reinstating normalcy as fast as possible, ICICI Lombard General Insurance Company Limited remained steadfast in reducing emotional trauma and the impact of loss. Fast, fair and friendly as always, ICICI Lombard General Insurance Company Limited put its customers’ needs above all.

ICICI Lombard General Insurance Company Limited

Its value proposition is driven by a promise to be the best partner for its customers. Simply put, it means providing unmatched services. This deep and unceasing commitment to its customers guides us to do things right, every time. It inspires us to evolve its services every day, from small modifications to major changes. For us, customer satisfaction is a promise to be lived every day, because its customers’ peace of mind is our greatest reward.

For more information please visit the company page. 

https://www.icicilombard.com

Why is auto insurance required in rural area / agriculture ?

Farming or agriculture is a very difficult work. A lot of risks are involved in agriculture.  Agriculture is a physical work so there is risk up to death, there is risks of accident, there is the risk of health, there is the risk of damage to tractors, automobiles and implements, weather risk, fire risk, burglary risk.  The farmer transports his material from farm to market yard, market to farm there is road accident risk.

We will discuss all these risks one by one. In this content, we will discuss the requirement of auto insurance for the rural area/ agriculture. Farmers have many automobiles like a tractor, four-wheeler car, Motorcycle, agriculture implements. Farmers must take separate insurance for tractor, four-wheeler loading, four-wheeler car, Motorcycle, agriculture implements. Insurance companies sell many insurance products their insurance products are designed for customers as per their need.  You can find product by the name of Tractor auto insurance, Car auto insurance, transport vehicle auto insurance, two-wheeler auto insurance.

Auto Insurance has two parts; Own damage and Third party. As per govt rule, every vehicle running on road must have an insurance cover. Own damage part covers the risk related to the damage to vehicle only. The premium of own damage insurance part depends on make and model of vehicle.  In the case of accidents if any things happen wrong and vehicle get damaged then this part cover the repairing of the vehicle.  Own damage cover varies from company to company. Some company cover glass part, some company cover plastic part, some company cover 50 % of rubber, plastic, and glass. Insurance premium depends on the type of cover. Before taking the insurance please ask and see it clearly that cover is written in policy plan.

Auto insurance requirement in rural area/agriculture

Third party part covers the risk of damage occurs to third person /property/ vehicle during the during the accident. If vehicle get accident and a person who is walking on the road get died or vehicle damage the house, shop, anything can happen during the accident. This part covers this third-party risk.  The premium of this risk cover is very low but it is very important. Because we can calculate the damage of a vehicle. It can not be more than the price of the vehicle. But the third party risk is unlimited. We can’t calculate. For example, a person dies in the accident caused by the vehicle. If a normal earning person dies, the insurance claim can be his lifetime monthly salary (for example) if that person is the minister then risk will claim will be very high.

There are two-three minor part those are part of insurance auto insurance. The accidental death of Driver, Accidental death of passengers. These risks are also covers in auto insurance. Last part is generally service tax or GST. Farmers should take Auto-Insurance for their vehicle. It is mandatory and essential. Generally, farmer vehicle runs in the rural area. Traffic police don’t check auto insurance frequently, so farmers don’t go for auto insurance for their vehicle. But it is very important. IF there is no claim in previous auto insurance then insurance companies offer no claim bonus to the next auto insurance. This no claim bonus keep increases year by year in subsequent auto insurance.

Many companies provide auto insurance online. The farmer can take auto insurance quote online. Many companies have online portals. Auto insurance rates can vary from company to company. The farmer can check it before taking the auto insurance for his vehicle. Some companies provide caseless claim settlement process, for their auto insurance policy. In India there are four public sector general insurance companies and many privates insurance companies which provided auto insurance  like Cholamandalam MS General Insurance, Bajaj Allianz General Insurance, Bharti AXA General Insurance, Future Generali India Insurance, HDFC ERGO General Insurance Company, ICICI Lombard, IFFCO Tokio, Kotak Mahindra General Insurance, L&T  General Insurance, Liberty Videocon General Insurance, National Insurance Company, New India Assurance, The Oriental Insurance Company, Reliance General Insurance, Religare, Royal Sundaram General Insurance, Tata AIG General, United India Insurance Company, Universal Sompo General Insurance Company.