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Motor Insurance
Policy "B"
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This insurance policy also
known as a Comprehensive policy covers all the liabilities of the insured
vehicle under the Motor Insurance Act. No vehicle can be used without insurance
cover. Use of the vehicle without insurance cover is a penal offence.
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Risk
Covered
Compensation Offered |
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Risk
Covered |
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This insurance policy protects the motor
vehicle owners from these liabilities
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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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Loss or damage to the vehicle,
accessories, extra fittings, protection and removal costs, towing disabled
vehicles (commercial only) |
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Personal accident benefits for the
owner, passengers and employees
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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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The owner/insured is also allowed to
authorize repair expenses up to Rs.500/- per accident.
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