Motor Insurance

Without the valid insurance you can not drive the motor vehicles on road. So, it is mandatory to make your vehicle insured. The motor insurance plans can cover against any damage or loss caused to motor vehicle or the accessories because of following man made and natural calamities.

Man made calamities are Terrorist activity, theft, Burglary, riot, malicious act, strike, accident by an external mean, and any loss in transportation by the road, inland waterway, rail, elevator, lift or air.

Natural Calamities are fire, lightning or self-ignition, explosion, earthquake, typhoon, flood, hurricane, tempest, storm, inundation, hailstorm, cyclone, frost, rockslide and landslide.

The General insurance for motor vehicles offers necessary personal accident cover for the individual owner of motor vehicle when driving. You can choose also for the personal accident cover for the passengers and the third party legal liability. The third party legal liability can protect against the legal liability which arises because of the accidental damages. It can include any long- lasting injury or death of the person and the loss caused to property.

The motor vehicles can be insured at the fixed value which is known as Insured’s Declared Value that is IDV. On basis of listed selling price of manufacturer of the motor vehicle with any accessories listed price the Insured’s Declared Value is calculated after subtracting the depreciation of each year according to a schedule offered by an Indian Motor tariff. If cost of any electronic item or/ and electrical item which is installed in vehicle isn’t included in listed selling price of manufacturer then an actual value which will be after depreciation of the item will be included to sum insured above and over the Insured’s Declared Value.

In case motor vehicle is fixed with the LPG/ CNG, the LPG/ CNG kit fixed to the motor vehicle is insured one by one at the additional premium.