Liability Only policies:
The policy covers the vehicle owner’s legal liability to pay compensation for:
- Death or bodily injury to a third party person.
- Damage to third party property.
Package Policy
In addition to the coverage under liability only, this policy covers loss or damage to the insured vehicle and its accessories due to:
- Fire, explosion, self-ignition or lightning.
- Burglary, housebreaking or theft.
- Riot and Strike & Civil Commotion (Add on cover)
- Malicious Act.
- Earthquake (Fire and Shock) Damage. (Add on cover)
- Flood, Typhoon, Hurricane, Storm, Tempest, Inundation, Cyclone and Hailstorm. (Add on cover)
- Accidental external means.
- Whilst in transit by road, inland waterway, lift, elevator or air.
A restricted cover is also available covering the risk of Fire and/or Theft, in addition to the compulsory cover granted under “Liability Only Policy”.
The important exclusions under the policies are:
- 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)
Who can take the policy?
Any vehicle owner whose vehicle is registered in his/her name with the Licensing Office.
How to 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:
- Immediate intimation to the policy issuing office, which will issue a Claim Form.
- Claim Form duly filled in to be submitted along with copy of Certified Copy and Driver’s Permit at the time of accident and also estimate of repairs.
- Vehicle will be surveyed by a Loss Adjuster, appointed by the insurance company, who shall submit his report to the company.
- Final bills/cash memos are to be submitted by the insured.
In case of theft of the vehicle:
- Lodge a police complaint with the police immediately.
- Inform the policy issuing office with a copy of Police complaint.
- Submit the Final Police Report as soon as it is received.
- Extend full cooperation to the Loss Adjuster and/or investigator appointed by the company.
In case of liability claim:
- Inform insurance company immediately of any incident likely to give rise to liability claim.
- On receipt of summons from Court, the same should be sent to the company immediately.
- Claim Form duly filled in along-with copies of certified Copy of vehicle, Drivers Permit, Police Complainant are to be submitted