What is insured?
Any light motor vehicle used for social, domestic and pleasure purposes and for the insurer's business.
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Insured against what risks?
| 1(a). | Loss or damage by accident, fire, lightning, self ignition, external explosion, burglary, housebreaking or theft, malicious act. |
| 1(b). | Riot and strike; terrorism; earthquake; flood, cyclone and inundation. |
| 1(c). | Whilst in transit by rail, road, air, elevator, lift. Perils under. |
| 1(d). | Can be deleted and a discount in premium availed. |
| 2. | Liability for third party injury/death, third party property and liability to paid driver. |
| 3. | On payment of appropriate additional premium, loss/damage to electrical/electronic accessories, PA cover for drivers, insured or any named person, unnamed passengers can also be taken. |
| 4. | Certain discounts in premia are also available. |
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Who can insure?
Individuals and corporate owners of the private cars and the financier of the car having insurable interest in it.
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What will policy pay and how much?
| [A]. Own Damage |
| 1. | Actual amount spent for repairs/replacement subject to depreciation and sum insured as per survey report. |
| 2. | Garaging and towing charges - up to Rs 1000/- |
| 3. | Damage to tyres (when vehicle is also damaged) - 50 % of cost of replacement |
| 4. | In case of total loss, market value at the time of loss or sum insured whichever is less. |
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| [B]. Act Liability |
| 1. | Death or bodily injury to third parties - Unlimited. |
| 2. | Death or bodily injury to any person carried in the car provided they are not insured employees and not carried for hire or reward - Unlimited. |
| 3. | Liability to paid driver - As per W. C. Act |
| 4. | Third party property damage - up to Rs 6000/- |
| 5. | All costs and expenses incurred with company's written consent.
(In case of death of the Insured/any person entitled to indemnity for a liability incurred under this Policy,his personal representative will be indemnified ,as in the case of insured,if he observes all conditions as the insured himself.) |
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| Insurance Company |
| 1. The Oriental Insurance Company Ltd |
| 2. New India Assurance Company |
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