What Motor Insurance covers

What Motor Insurance covers: 

The damages to the vehicle due to the following perils are usually covered under OD section of the Motor Insurance policy: a. Fire, Explosion, Self- Ignition, Lightning b. Burglary/Housebreaking / Theft c. Riot & Strike d. Earthquake e. Flood, Storm, Cyclone, Hurricane, tempest, inundation, hailstorm, frost f. Accidental external means g. Malicious Act h. Terrorism acts i. While in Transit by Rail/ Road, Inland waterways, Lift, Elevator or Air j. Land slide / Rock slide • What Motor Insurance excludes: The following contingencies are usually excluded under the Motor Insurance Policy


• Not having a valid Driving License • Under Influence of intoxicating liquor/ drugs • Accident taking place beyond Geographical limits • While Vehicle is used for unlawful purposes • Electrical/Mechanical Breakdowns. • Basis of Sum Insured: For Own Damage: The Sum Insured under a Motor Insurance policy reflects the value of the motor vehicle determined based on the concept known as Insured’s Declared Value. Insured’s Declared Value is the value arrived at based on the Manufacturer’s present value and depreciation based on the Age of the Vehicle. For Third Party: Coverage is as per requirements of the Motor Vehicles Act, 1988 .





Compulsory Personal accident cover for owner -driver is also included. Policy can also be extended to cover various other risks like Personal A c c i d e n t t o o c c u p a n t s o f v e h i c l e , Wo r k m e n's Compensation to Driver, etc over and above the cover available to him under statute. 

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