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Motor Insurance
Policy "A"
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This insurance policy is essential for all
motor vehicle owners since it protects them from legal liabilities that might
arise during their vehicle operation. This insurance policy also known as the
Act Only policy covers the act liability of the insured vehicle that forms a
compulsory requirement of the Motor Insurance Act. No vehicle can be used
without this insurance cover and use of the vehicle without this insurance
cover is a penal offence.
Risk Covered
Compensation Offered
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Risk
Covered |
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This insurance policy protects the motor
vehicle owners from the risks of |
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Fire, Explosion, Self-Ignition and Lightning.
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Burglary, Housebreaking and Theft.
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Riot, Strike, Malicious and Terrorism Damage.
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Earthquake. |
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Flood, Typhoon, Hurricane, Storm, Tempest,
Inundation, Cyclone, Hailstorm. |
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Accidental External Means. |
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Transit by road, rail, inland waterway, lift, elevator or air.
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For motor cycles and commercial vehicles, the risk of Frost Damage is also
covered. From the above coverage, for all classes of vehicles, the risks of
riot, strike, malicious and terrorism damage, earthquake, flood and storm can
be opted out of with a consequent discount in premium.
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In addition to these, cover is also available for protection, removal costs and
authorization of repairs.
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Section II covers the liabilities towards
third parties, i.e. liabilities of bodily injuries and property damage.
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For Commercial Vehicles, however, an additional Section III covers the
vehicle while it is being used for the purpose of towing disabled vehicles.
This section covers third party liabilities that the insured vehicle or the one
being towed may incur as a result of an accident. This is provided the towed
vehicle is not towed for reward/remuneration. Further, the insurance company is
also not liable for damages to the towed vehicle or any property being conveyed
thereby.
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Compensation
Offered |
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This insurance policy will provide compensation for the motor vehicle owners
from these liabilities
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Unlimited liability towards bodily injury to any third
party.
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Unlimited liability towards bodily injury to passengers of the vehicle.
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Liability towards third party property damage, limited to Rs.6,000/- only.
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Liability towards employees of the owner of the insured vehicle while traveling
or using it, against bodily injury to the extent required by the Workmen's
Compensation Act.
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If a motor vehicle is disabled as a result of loss or damage due to the perils
mentioned above, the insurance company bears the reasonable cost of protection
and removal to the nearest repairer and the cost of redelivery to the
owner/insured subject to a maximum limit, in respect of any one accident. The
limits for various classes of vehicles are as follows:
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Motor cycles/Scooters: Rs.300.
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Private Car & Taxies: Rs.1500.
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Other Commercial Vehicles: Rs.2500.
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