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PRIVATE CAR INSURANCE - POLICY*

What is insured ?

Any light motor vehicle used for social, domestic and pleasure purposes and for the insurer's business.

Insured against what risks?

1(a). Loss or damage by accident, fire, lightning, self ignition, external explosion, burglary, housebreaking or theft, malicious act.

1(b). Riot and strike; terrorism; earthquake; flood, cyclone and inundation

1(c). whilst in transit by rail, road, air, elevator, lift. Perils under 1(b) can be deleted and a discount in premium availed.

2. Liability for third party injury/death, third party property and liability to paid driver.

3. On payment of appropriate additional premium, loss/damage to electrical/electronic accessories, PA cover for drivers, insured or any named person, unnamed passengers can also be taken.

4. Certain discounts in premia are also available.

Who can insure?

Individuals and corporate owners of the private cars and the financier of the car having insurable interest in it.

What will policy pay and how much?

Own Damage

  1. Actual amount spent for repairs/replacement subject to depreciation and sum insured as per survey report.
  2. Garaging and towing charges - up to Rs 1000/-
  3. Damage to tyres (when vehicle is also damaged) - 50 % of cost of replacement
  4. In case of total loss, market value at the time of loss or sum insured whichever is less.

Act Liability

  • Death or bodily injury to third parties - Unlimited
  • Death or bodily injury to any person carried in the car provided they are not insured employees and not carried for hire or reward - Unlimited
  • Liability to paid driver - As per W. C. Act
  • Third party property damage - up to Rs 6000/-
  • All costs and expenses incurred with company's written consent
  • In case of death of the Insured/any person entitled to indemnity for a liability incurred under this Policy,his personal representative will be indemnified ,as in the case of insured,if he observes all conditions as the insured himself.

When will policy not pay?

  1. Consequential loss; depreciation; wear and tear; mechanical and electrical breakdown; failure or breakage.
  2. 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's clause
  3. War perils, nuclear perils and drunken driving