1) Car Insurance
This insurance gives coverage against accidental damage or losses to the holder’s vehicle or third party. The amount of premium depends upon the make of the car, manufacturing year, value & state of registration.
2) Two Wheeler Insurance
This type of insurance is for scooters, bikes & features are similar to that of four-wheeler insurance.
3) Comprehensive Coverage
This type of coverage offers complete package policy wherein any damages to the vehicle will be covered up to the Insured Declared Value. Any third party property damage or third party injury/death can be covered. Policyholders feel less stressful as it gives end-to-end coverage.
4) Third Party Liability Coverage
Under the Motor Vehicles Act, third party liability coverage is legally mandatory. This type of motor insurance offers coverage against all legal liabilities to a third party caused when insured vehicle owner is at-fault. It insures injury/damage caused by policyholder to third person/property
5) Collision Coverage
It financially protects the policyholder against damage of insured’s own car. Collision coverage pays the policyholder for damage caused because collision which generally occurs due to an accident.
Add-On Riders
Add-on riders doesn't take the depreciation value of the parts & allows you to receive the entire claim amount. It is generally available for cars under five years & allows eligibility to claim full amount for replacing/changing any damaged parts of your vehicle.
Exclusions from Motor Insurance
1) General ageing, wear and tear
2) Damage by a person driving without a valid driving license
3) Mechanical or electrical breakdown, failure
4) Damage by a person driving under the influence of Liquor/Alcohol/Drugs
5) Depreciation, any consequential loss
6) Loss /Damage attributable to War /Mutiny /Nuclear risks
7) Damage to tyres and tubes are excluded unless the vehicle is damaged at the same time. In such circumstance, the liability of the company shall be limited to 50% of the cost which includes replacement Loss /Damage
