Types of Motor Insurance Policy
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Motor Third-Party Insurance
Which is sometimes also referred to as the 'Act only' cover, is a statutory requirement under the Motor Vehicles Act. However, it covers the insured's legalliability for death/disability of third-party loss or damage to the third-partyproperty -
Package Policy
This covers loss/ damage to the vehicle insured (own damage) along with third party liability cover which includes bodily injury and/or death and property damage, personal accident cover for owner driver and passengers.
Major Inclusions & Exclusions
Inclusions: What is covered in Motor Insurance ?
- Riot & Strike
- Fire & Burglary
- Terrorism Act
- Earthquake
- Land Slide
- Flood, Storm, Cyclone
- Theft
Exclusion: What is not covered in Motor Insurance ?
- If driver is under the influence of drugs and abuse.
- Vehicle is used for illegal activities or for purpose otherwise stated in the policy.
- Not having valid driving license
- Any loss or damage to the insured vehicle if it happens out side India.
- Two Wheelers
- Private Car
- Commercial Vehicles
- Miscellaneous Vehicles
