MOTOR VEHICLE INSURANCE

• DRIVEN BY OWNER OR EMPLOYED DRIVER

• EVEN LEARNER SUBJECT TO MV ACT
.STATUTORY COVER A –THIRD PARTY MANDATED BY SEC 146 OF MV
ACT1988-ALL VEHICLES IN PUBLIC PLACE/LIFE+PROP OF RS6000
COVER B-THIRD PARTY/ DAMAGE TO OWN VEHICLE
#‘MOD - POLICYMOTOR OWN DAMAGE—
ACCIDENT COVER FOR OWNER-DRIVER FOR RS 2LAKHS-COVERS MALICIOUS
ACTS /RIOTS/FIRE/EARTH QUAKES
PREMIUM ON INSURED DECLARED VALUE-IDV
REPAIRS/ABOVE 3 MONTHS DEPRECIATED VALUE FOR PARTS –EXTRA PREM
ON ACCESSORIES
#COMPREHENSIVE POLICY ---COVERS ALL LIABILITIES INCLDG
WORKMEN COMPENSATION ACT
 MOTOR VEHICLE INSURANCE
• FEATURES
• COVERAGE ==PERSONAL/BUSINESS-NOT FOR
RACING—SCOOTERS-AGRI TRACTORS AND
TRAILERS-SIDE CARS—THREE WHEELERS OF
PRIVATE USE—
• -ENTIRE COUNTRY-INCLDG NEPAL AND
BHUTAN
• -NORMALLY FOR12MONTHS
MOTOR VEHICLE INSURANCE
• TRANSFER-AUTOMATIC WITH BONUS-
CHANGE OF NAME
• FINANCE-BANK CLAUSE- HIREPURCHASE
• DOUBLE INS.-REFUND PRO RATA PREMIUM-
LATER POLICY CANCELLED
• NOCLAIM BONUS 1YR20%-2YR25%
• SUNSET CLAUSE 5YRS 65%
 MOTOR VEHICLE INSURANCE
• CLAIM PROCEDURE
• DUE CARE/LICENSED DRIVER/NOTICE
• THIRD PARTY LIAB ON CANCELLED POLICY
ALSO-LEGAL HEIRS COVERAGE/ LIFE
ACCIDENT COVER RS2LAKHS/MOD
• ACCESSORIES ONLY IF EXTRA PREM PAID
• DEPRECIATION EFFECTED TOTAL LOSSOR
CONSRUCTIVE TOTAL LOSS 75% OF IDV
 MOTOR VEH. INS.
• THIRD PARTY CLAIMS
• NO FAULT OR ABSOLUTE LIABILITY
• ----UNLIMITED ON DEATH OR INJURY AWARDED
BY COURT/ARBITRATOR
• --DAMAGE TO PROPERTY RS6000
• MINIMUM DEATH CLAIM
RS50000/DISABILITYRS25000
• CLAMS ON MULTIPLIER BASIS-POTENTIAL
EARNINGS-NO OF MEMBERS-MAX 18 TIMES