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Auto Insurance Plans

Source : SIFY
Last Updated: Tue, Apr 28, 2009 06:20 hrs

What can be Insured

This insurance policy can be used for any light motor vehicle used for social or domestic purposes as well as business and pleasure of the insured.

Suitable for...

The insurance policy is essential for the owners of the motor vehicle, individual or corporate parties as well as the financiers who might have an insurable interest in the vehicle.

Risks covered

This insurance policy protects the motor vehicle from loss or damage

  • By fire, lightning, self-ignition, explosion, burglary, housebreaking or theft.

  • Riot or strike.

  • Flood, earthquake, cyclone or inundation.

  • Transit by road, air, elevators or lifts.

  • Liability for third party's injury or death, third party property and towards the paid driver too.

Loss or damage to electrical/ electronic accessories, personal accident cover for the driver and passengers is also available after paying additional premium.

Compensation Offered

This insurance policy will grant 

Own Damage

  • Amount spent on repairs/ replacement based on actuals, sum insured and depreciation.

  • Garaging and towing charges below Rs.1,000/-

  • Damage to tyres (where vehicle is also damaged) up to 50 percent of the replacement cost.

  • Market value or sum insured, whichever is less in case of total loss.

Act Liability

  • Unlimited liability towards death or bodily injury towards third party.

  • Unlimited liability towards death or bodily injury towards any person present inside the vehicle, provided they are not employees of the insured nor are being carried for a fee or reward.

  • Liability towards the paid driver as per the Workmen's Compensation Act.

  • Costs and expenses incurred with the firm's written consent.

  • In case of death of the insured/ any person entitled to indemnity or a liability incurred under the policy, his representative will be indemnified as in the case of the insured, if he observes the same conditions as the insured himself.

Exclusions

This insurance policy will never pay any claims arising from

  • Consequential loss, depreciation, wear and tear, mechanical and electrical breakdown, failure or breakage.

  • When vehicle is used outside the geographical area; when used contrary to limitation as to use driven by a person other than the driver stated in driver%u2019s clause.

  • War or nuclear perils and drunken driving.



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