This Insurance covers both the damage of the vehicles and the Third Party Liability under Comprehensive Vehicle Policy. It also covers the Personal Accident of the driver, passengers, helpers and conductors. Coverage is further extended to public or commercial vehicle damage caused by fire and lightening, natural calamities such as storm, flood,
There are various reasons which can lead to accidents and vehicle damages and sometimes it can happen without one’s fault. This could be true in situations where there are many vehicles and congested roads everywhere.
Motor Vehicle Risk Coverage
Comprehensive – provides both against the loss of or damage to the insured vehicle as well as legal liabilities that may arise from its use.
Loss or Damage- indemnifies the insured against loss or damage to the insured vehicle due to:
Accidental collision or overturning fire, explosion, self-ignition or lightning, burglary, housebreaking or theft and malicious acts by third parties.
Comprehensive Third Party Liability (CTPL)- coverage required by law for the registration of any vehicle licensed for use on the public highways. Provides protection of up to a maximum of Rs... for legal liabilities due to death of, or bodily injury to third parties.
Own Damage- Protects insured’s vehicle against loss or damage due to accident as well as loss due to theft.
Excess Third Party Liability- (Bodily Injury)- covers liabilities of the insured due to death of or bodily injury to third parties in excess of the limits provided under the CTPL coverage up to a maximum of Rs.... (may be increased subject to additional premium)
Unnamed Passengers Personal Accident – insures each passenger up to Rs.... with a maximum of Rs.... per vehicle for death and permanent disability due to an accident while riding in the insured vehicle.
Voluntary Third Party Liability (Property Damage) – covers the insured against liabilities due to actual physical damage to properties of third parties arising out of the use of the insured vehicle up to a maximum of Rs.... (may be increased subject to additional premium).
Required Information For Motor/Vehicle Policy Issuance
Manufacture Company & Year
Engine / Chassis Number
Sum Insured / Vehicle Price
Engine Capacity (CC / Ton / Horse Power)
Seat Capacity (Driver / Conductor / Passenger)