Motor Vehicle

Motor Vehicle Insurance provide protection for your vehicle againts accidental and theft. Select plan to suit your needs and your budget, including personal accident and third party liability

Motor Vehicle Comprehensive

All risks mean coverage of any risk. This kind of insurance is also named comprehensive or all-inclusive. It means that insurance company will pay claim for any kind of damage, from minor to severe damage and lost

Coverage

Comprehensive Policy covers total or partial loss of or damage to the motor vehicle due to the risks stated above

Object of Insurance

Motor vehicle for personal/office not for commercial used

Exclusion

  1. Damages incurred while using the car for illegal purposes.
  2. Damages caused to the car due to its usage beyond limits.
  3. Loss or damage as a result of war, terror attacks, hostilities or nuclear accidents.
  4. Damages caused to the car while it was driven by a person under the influence of drugs or alcohol.
  5. Accidents found to be fraudulent by the insurance company.
  6. Damages caused to the car in an accident while the person driving could not produce a valid license.
  7. Damages incurred by the car in an accident with an underage driver, or one who drove on the wrong side of the road.
  8. Cost of car coolants, petrol, nuts, bolts, etc.
  9. Willful damages caused to the vehicle by the owner.
  10. Damages caused to the car during a time when the policy had expired and was not renewed.
  11. Damages to the car and its engine due to oil leakage.
  12. Consequential losses due to certain actions from the car owner or a third-party, and not due to an uncertain event. For instance, the engine damage of a car following hydrostatic loss during the monsoons is due to the negligence of the car-owner, as he had cranked it up in a flooded area. This will not be covered by the insurer.
  13. Other exclusions as defined in the Insurance Policy.

Sum Insured

According to object insured’s vehicle value

Minimum Data Requirement

  1. Claim history
  2. Vehicle price
  3. Vehicle type
  4. Year of manufacture
  5. Region
  6. Real vehicle photos (front view, rear view, left side, right side and dashboard)

Claim Procedure

In the event of loss/damage, the Insured is required to:

  1. First you should note down the number of the other vehicle/vehicles involved in the accident. Also, get the names and contact details of the witnesses, if possible.
  2. In case there were third-party injuries/death or property damage, loss of keys, malicious damage, or any other such critical issues, you should file an FIR at the nearest police station.
  3. You should also contact the insurance company and report the accident. You will receive a reference/claim number.
  4. You will be informed about the documents required for claim processing by the customer care representative from the insurance company. Additionally, you will be provided the details of network garages in the locality, where you can get the repairs done.
  5. You can take the vehicle to a network garage. A customer service manager (CSM) will get in touch with you within 24 hours of claim registration.
  6. You should submit all the relevant documents to the CSM/dealer and get an estimate for the repair work. Once the CSM approves the estimate, he/she will give a go-ahead for the repairs.
  7. The insurance company will make the claim payment to the garage after the repair work is completed.
  8. The CSM will intimate you on the balance amount that you will have to pay under the heads of deductibles and depreciation

Motor Vehicle Total Loss Only (TLO)

The total loss only coverage offers protection for the motor vehicle from risk oh theft, accident, or fire, which causes damage or loss reaching a minimum of 75% of the market price of the vehicl which also known as Constructive Total Loss (CTL)

Coverage

Total Loss Only Policy only cover loss of the Insured vehicle due to theft and major damages above 75% (CTL)

Object of Insurance

Motor vehicle (Car or motorcycle) for private or business purposes

Exclusion

  1. Damages incurred while using the car for illegal purposes.
  2. Damages caused to the car due to its usage beyond limits.
  3. Loss or damage as a result of war, terror attacks, hostilities or nuclear accidents.
  4. Damages caused to the car while it was driven by a person under the influence of drugs or alcohol.
  5. Accidents found to be fraudulent by the insurance company.
  6. Damages caused to the car in an accident while the person driving could not produce a valid license.
  7. Damages incurred by the car in an accident with an underage driver, or one who drove on the wrong side of the road.
  8. Cost of car coolants, petrol, nuts, bolts, etc.
  9. Willful damages caused to the vehicle by the owner.
  10. Damages caused to the car during a time when the policy had expired and was not renewed.
  11. Damages to the car and its engine due to oil leakage.
  12. Consequential losses due to certain actions from the car owner or a third-party, and not due to an uncertain event. For instance, the engine damage of a car following hydrostatic loss during the monsoons is due to the negligence of the car-owner, as he had cranked it up in a flooded area. This will not be covered by the insurer.
  13. Other exclusions as defined in the Insurance Policy.

Extended Coverage

The insurance can be extended to cover the following at an additional rate:

  1. Personal Accident for Passenger
  2. Personal Accident for Driver
  3. Passengers Legal Liability
  4. Third partly liability (TPL)
  5. Strike Riot Civil Commotions
  6. Terorism & Sabotage (Terms and Condition applied)
  7. Act of God / Natural Hazards (Earthquake, Tsunami, Volcanic Eruption, Flood and Storm

 

Sum Insured

According to object insured’s vehicle value

Minimum Data Requirement

  1. Claim history
  2. Vehicle price
  3. Vehicle type
  4. Year of manufacture
  5. Region
  6. Real vehicle photos (front view, rear view, left side, right side and dashboard)

Claim Procedure

In the event of loss/damage, the Insured is required to:

  1. Contact the insurance company and report the accident. You will receive a reference/claim number.
  2. You will be informed about the documents required for claim processing by the customer care representative from the insurance company.
  3. Go to nearest policy office to create report. Max 1 x 24 hours
  4. You should submit all the relevant documents to the insurance company
  5. The insurance company will process claim

Supporting Document

  1. Claim form which has been provided by the Insurer and filled in completely by the Insured.
  2. Original Policy includes Endorsement (if any) to prove the existence of coverage.
  3. Copy of FIR (First Information Report)/policy report
  4. Copy of driving licence
  5. Copy of vehicle documents
  6. Photo from accident
MV Comprehensive
MV Total Loss Only