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It safeguards against accidental damage or theft of the vehicle and also safeguard against third party legal liability for bodily injury and/or property damage. It also provides Personal Accident cover for owner driver/ occupants of the vehicle.
Motor Insurance Contracts are subject to the basic principles applicable to property and liability insurance in general. The owner of the vehicle must be a registered owner to the vehicle whereby he or she stands to benefit by the safety of the vehicle, right, interest or freedom from liability and stands to lose by any loss, damage, injury or creation of liability.
How to lodge a claim?
In the event of an incident giving rise to a claim under the policy, the following steps should be taken,
In case of accidental damage to the vehicle:
Step 1: Immediate written intimation to the policy issuing office or nearest office.
Step 2: In case of major loss to the vehicle a spot survey, at the site of accident, also be arranged by the company
Step 3: Obtain a Claim Form& submit it duly completed along with
• copy of Registration Certificate
• copy of driving license of the driver of the vehicle at the time of accident
• Estimate of repairs.
• Copy of permit & fitness certificate in case of commercial vehicles
Do not start the repair of the Vehicle unless it is surveyed by a company appointed Surveyor.
In case of theft of the vehicle:
Step 1: Lodge an F.I.R. with the police immediately.
Step 2: Inform the policy issuing office & concerned Regional Transport Office immediately.
Step 3: Obtain a Claim Form & submit it duly completed
Step 4: Submit the Final Police Report as soon as it is received.
Step 5: Extend full cooperation to the investigator appointed by the insurance company.
In case of third party liability claim:
1. Inform insurance company immediately of any incident likely to give rise to liability claim.
2. On receipt of summons from Court, the same should be sent to the company immediately.
3. Claim Form duly filled in a long-with copies of Registration Certificate, Diving License, FIR are to be submitted.
Disclaimer: This is for illustration purposes only. Please refer to the policy terms and conditions specific to the product/policy or contact our nearest office for further clarification.
Hope for the best, Prepare for the Worst
Main Features
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Liability Coverage
Collision Coverage
Comprehensive Coverage
Uninsured/Underinsured Motorist Coverage
Medical Payments Coverage
Accessory Coverage
Liability Only Policies:
The policy covers the vehicle owner's legal liability to pay compensation for:
1. Death or bodily injury to a third party person.
2. Damage to third party property.
Own DAMAGE only policies:
This policy covers loss or damage to the insured vehicle and its accessories due to:
1. Fire, explosion, self-ignition or lightning.
2. Burglary, housebreaking or theft.
3. Riot and Strike.
4. Malicious Act.
5. Terrorist Act.
6. Earthquake (Fire and Shock) Damage.
7. Flood, Typhoon, Hurricane, Storm, Tempest, Inundation, Cyclone and Hailstorm.
8. Accidental external means.
9. Whilst in transit by road, inland waterway, lift, elevator or air.
10. By landslide/Rockslide.
Comprehensive Policies:
It is combination of Liability only policies and Own Damage only policies.
Exclusions
· Wear and tear, breakdowns
· Consequential loss
· Loss when driving with invalid driving license or under the influence of alcohol.
· Loss due to war, civil war, etc.
· Claims arising out of contractual liability.
Use of vehicle otherwise than in accordance with `limitations as to use ' (e.g. private car being used as a taxi).
Disclaimer: This is for illustration purposes only. Please refer to the policy terms and conditions specific to the product/policy or contact our nearest office for further clarification.