ARPIT SHAH SYBBI

26
Sub : Innovation & Banking Insurance

ACCIDENT AND MOTOR INSURANCE.

TERMS AND CONDITIONS OF MOTOR INSURANCE. CLAIMS & RECOVERY. COMPULSORY THIRD PARTY.

1939: Motor Vehicles Act (MVA) Passed. Compulsory 3rd Party Insurance . Introduce On 1st July, 1946. Practice In India Follows That Of U.K. Market. Governed By a Tariff: Withdrawn In UK.

Motor Insurance is a combination of two words ie . + . Motor under the Motor vehicle act is a SELF-PROPELLED VEHICLE. Insurance we already know is protection against any The UNFORESEEN RISK is an incident which cant be Foreseen ie . Which May Or May Not Happen.

The Mandatory part of the Motor Insurance is known as . This Insurance was formed on the basis of Motor vehicle act. The policy is being issued in accordance with the provisions of the M.V act, is now called as the .

Death of or bodily injury to any person including occupants (Provided such occupants are not carried for Hire or Reward) as per Motor Vehicles Act, 1988. The company shall not be liable for death or injury arises out of and in the course of employment. Damage to property other than property belonging to the insured or held in Trust / Custody or control of the insured. All Cost And Expenses Incurred with Its Written Consent.

NO COMPENSATION SHALL BE PAYABLE IN RESPECT OF DEATH OR BODILY INJURY DIRECTLY OR INDIRECTLY WHOLLY OR IN PART ARISING OR RESULTING FROM OR TRACEABLE TO: INTENTIONAL SELF INJURY SUICIDE OR ATTEMPTED SUICIDE PHYSICAL DEFECT OR INFIRMITY OR AN ACCIDENT HAPPENING WHILST SUCH PERSON IS UNDER THE INFLUENCE OF INTOXICATING LIQUOR OR DRUGS. SUCH COMPENSATION SHALL BE PAYABLE DIRECTLY TO THE INSURED OR TO THEIR LEGAL REPRESENTATIVES.

In case of motor insurance claim, you can avail cashless facility for the repair of your vehicle in any of our cashless garage network. However, If the vehicle is serviced in a garage outside the purview of our network, then you can claim reimbursement for the same.

Our Customer Service Manager (CSM) will contact you within 24 hours of registering the claim. Submit all the required documents to the dealer / CSM and get them verified with the originals. Our CSM will get the estimate for the repairs of your vehicle and give spot approval after assessment. Payments that need to borne by us at our preferred garage will be made directly to the garage on completion of the repairs. The balance amount will have to be paid by the insured as per the terms and conditions of the policy, which will be informed by the CSM.

INFORMA TION ABOUT INSURED :POLICY / CO VER NO TE NO. ___________________________ CLAIM NO. _________________________________ Name |__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__| Correspondence Address |__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__| |__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__||__|__|__|__|__|__|__|__| |__|__|__|__|__|__|__|__|__|__|__|__|__|__|__| District |__|__|__|__|__|__|__|__|__|__|__|__|__|__||__| Pin Code|__|__|__|__|__|__| Res. Tel. No. |__|__|__|__| |__|__|__|__|__|__|__|__|__|__| Off. Tel. No. |__|__|__|__| |__|__|__|__|__|__|__|__|__|__| Fax No. |__|__|__|__|__|__|__|__| (Mobile Number & Email ID is essential for the Insurer to keep the customer informed about claim process) Mobile |__|__|__|__|__|__|__|__|__|__| E Mail Id __________________________________________________________________________________ INFORMA TION ABOUT INSURED VEHICLE : Registration No. |__|__|__|__|__|__|__|__|__|__| Make |__|__|__|__|__|__|__|__| Model |__|__|__|__|__|__|__|__|__| Date of Registration |__|__|/|__|__|/|__|__|__|__| Mileage |__|__|__|__|__|__|__|__|__|__|__|__|__| kms __________________ Chassis No. |__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__| Engine No. |__|__|__|__|__|__|__|__|__|__|__|__|__|__|__|__| Class of Vehicle Private Commercial Two Wheeler Hypothecation / Hire purchase agreement _________________________________________________________________________________________ DET AILS OF ACCIDENT : Date |__|__|/|__|__|/|__|__|__|__| Time |__|__| : |__|__| am/pm Exact location of accident (Address / Spot of Accident with landmark) ________________________________________________________________

You can save on your motor insurance premium when you maintain a claim free record, as the No Claim Bonus which you accumulate can be translated into a discount on the Own Damage Premium . In case you have installed an anti theft device in your car, which is approved by the Automotive Research Association of India, then a discount of up to Rs.500 can be availed. Another way of reducing cost of premium is opting for voluntary excess, which means opting to bear a certain amount of loss from each claim.

Loss or Damage to your car and two wheeler against Natural Calamities Fire, explosion, self-ignition or lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide and rockslide. Loss or Damage to your car and two wheeler against Manmade Calamities, Burglary, theft, riot, strike, malicious act, accident by external means, terrorist activity, any damage in transit by road, rail, inland waterway, lift, elevator or air. Personal Accident Cover Coverage of Rs. 1 LakH for the individual owner/driver of the vehicle while driving or travelling, mounting or dismounting from the two wheeler. Third Party Legal Liability Protection against legal liability due to accidental damages resulting in the permanent injury or death of a person, and damage caused to the surrounding property.

Normal wear and tear and general ageing of the vehicle. Depreciation or any consequential loss. Mechanical/ electrical breakdown. Vehicles being used otherwise than in accordance with limitations as to use. Damage to/ by a person driving any vehicles without a valid license. Damage to/ by a person driving the vehicle under the influence of drugs or liquor. Loss/ damage due to war, mutiny or nuclear risk. Wear and tear of consumables like tyres and tubes unless the vehicle is damaged at the same time, in which case the liability of the company shall be limited to 50% of the cost of replacement.