The policy is applicable to all types of vehicles plying on road like Scooters, Motorcyles, Cars (Private or plying as taxis), Goods carrying vehicls, (Trucks, Trailers, etc) Passenger carrying vehicles, (Autorickshaws, Buses etc), Motor Trade Vehicles (vehicles in garages and showrooms).
There are two types of policies available; one covering the Third Party Insurance; which according to Motor Vehicles Act 1988 is mandatory for every registered vehicle. The other type of policy is Package Policy which covers the loss and/or damage to the vehicle in addition to the third party liability. The policy provides for a step-up No Claim Bonus (NCB) for each claims free year.
The policy does not cover:
- Violation of Limitation of Use (e.g. driving private car for commercial purpose, passenger carrying vehicle operated as goods carrying etc.)
- Gradual wear and tear
- Consequential Losses
- War or War Like Perils
- Nuclear and its Radiation Risks
- Driving under influence of alcohol or without valid license
The private car insurance comes with hosts of additional covers at an additional premium like:
- Nil Depreciation
- Return of Invoice Value
- NCB Protection Cover
- Road side assistance services
- Personal Baggage and belongings cover
- Lock &Key Replacement Cover
Disclaimer: The above is a broad indication. The actual available are as described in the policy wordings of the insurance company and will be subject to the policy terms, conditions and exclusions.