 About
Comprehensive Insurance Cover
This type of insurance covers all the risks covered in the Motor
Vehicles Act (as above), plus loss or damage caused to the vehicle due
to:
- Accident
- Fire, Explosion,
self-ignition, lightning
- Burglary, house-breaking,
theft
- Riots & strikes
- Earthquakes
- Flood, typhoon, hurricane,
storm, cyclones
- Malicious acts
- Terrorism
- Transit by rail/road. air,
waterways
Also included is the towing charge (up
to Rs.1, 500/- for private vehicles and Rs.2, 500/- for commercial
vehicles) incurred due to accident to the vehicle.
Exclusions to the Comprehensive Insurance Cover
This insurance does not cover loss or damage caused due to:
(a) Driver being under intoxication
(b) Vehicle being driven by a person not holding an effective,
valid licence.
It also does not cover:
(a) Damage to tyres (unless the vehicle is also damaged).
(b) Wear & tear, mechanical breakdown.
Calculation in the case of Comprehensive Insurance
Cover?
In the case of Comprehensive Insurance Cover, for the purpose of
premium, vehicles are categorized as follows:
PRIVATE CAR:
This is used for personal purposes. The premium is computed on the
following basis:
- Geographical area of use and
cubic capacity
- Value of the vehicle.
Accessories are to be specified separately under electrical and
non-electrical items.
TWO-WHEELER:
This is used for personal purposes only. Premium is calculated on
cubic capacity and value of vehicle. Accessories are to be
specified. Theft of accessories is not covered, unless the vehicle
is stolen at the same time.
COMMERCIAL VEHICLE:
This is a vehicle used for hire and is classified into:
- Goods-carrying commercial
vehicle: In this case premium is calculated on carrying capacity
-gross vehicle weight and value of the vehicle. Accessories
extra, as specified.
- Passenger-carrying commercial
vehicle: In this case premium is calculated on carrying capacity
of the vehicle -Number of passengers and value of the vehicle.
Accessories extra, as specified.
Note: all commercial vehicles are
subject to compulsory excess in each and every claim for damage.
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