ICICI Lombard General Insurance Co. Ltd. has launched a floater motor insurance policy aimed at persons owning multiple vehicles to help them insure their automobiles under one policy with a particular renewal date and a comprehensive cover.
Customers opting for the offering will be provided less premium.
Full benefits associated with the no-claim of each vehicle will be preserved beneath the offering when one shifts from separate policies to the floater policy. In case of no-claims through the policy period, a no-claim bonus will be offered to policyholders on renewal per the applicable slab and up to 50%. Under the product, customers can also make additions and deletions at any point through the policy tenure, said the firm.
Telematics add-ons will also be wanted to convert the base motor product into an ‘Asset cum Usage’ based product. The premium charged for the insurance of the bottom electric motor vehicle would depend partially on the usage. The add-ons can be practical for the same period as the Motor Own Damage end up beneath the relevant section of the policy unless and until mentioned otherwise, said the firm.
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