STANDARD FORM FOR PRIVATE CAR PACKAGE POLICY
Whereas the insured by a proposal and declaration dated as stated in the Schedule which shall be the basis of this contract and is deemed to be incorporated herein has applied to the Company for the Car Insurance herein after contained and has paid the premium mentioned in the schedule as consideration for such insurance in respect of accidental loss or damage occurring during the period of insurance.
NOW THIS POLICY WITNESSETH
That subject to the Terms Exceptions and Conditions contained herein or endorsed or expressed hereon;
SECTION I. LOSS OF OR DAMAGE TO THE VEHICLE INSURED
The Company will indemnify the insured against loss or damage to the vehicle insured here under and/or its accessories whilst thereon
1. By fire explosion self ignition or lightning:
2. By burglary housebreaking or theft;
3. By riot and strike;
4. By earthquake (fire and shock damage); 5. By flood typhoon hurricane storm tempest inundation cyclone hailstorm frost; 6. By accidental external means;
7. By malicious act;
8. By terrorist activity:
9. Whilst in transit by road rail inland-waterway lift elevator or air;
10 By landslide rockslide.
Subject to a deduction for depreciation at the rates mentioned below in respect of parts replaced Under Car Insurance
1. For all rubber/nylon/plastic parts, tyres and tubes, batteries and air
bags-50%
2. For fibre glass components-30%
3. For all parts made of glass-Nil
4. Rate of depreciation for all other parts including wooden parts will be as per the following schedule.
AGE OF VEHICLE || % OF DEPRECIATION
Not exceeding 6 months - Nil
Exceeding 6months but not exceeding 1 year - 5%
Exceeding 1 year but not exceeding 2 years-10%
Exceeding 2 years but not exceeding 3 years - 15%
Exceeding 3 years but not exceeding 4 years - 25%
Exceeding 4 years but not exceeding 5 years - 35%
Exceeding 5 years but not exceeding 10 years - 40%
Exceeding 10 years - 50%
5. Rate of Depreciation for Painting :
In the case of painting, the depreciation rate of 50% shall be applied only on the material cost of total painting charges. In case of a consolidated bill for painting charges, the material component shall be considered as 25% of the total painting charges for the purpose of applying the depreciation. The Company shall not be liable to make any payment in respect of:-
a. Consequential loss, depreciation, wear and tear, mechanical or electrical breakdown, failures or breakages;
b. Damage to tyres and tubes unless the vehicle is damaged at the same time in which case the liability of the company shall be limited to 50% of the cost of replacement.
C. Any accidental loss or damage suffered whilst the insured or any person driving the vehicle with the knowledge and consent of the insured is under the influence of intoxicating liquor or drugs.
In the event of the vehicle being disabled by reason of loss or damage covered under this Car Insurance Policy the Company will bear the reasonable cost of protection and removal to the nearest repairer and redelivery to the insured but not exceeding in all 1500/-in respect of any one accident.
4. In the event of the death of any person entitled to indemnity under this policy the Company will in respect of the liability incurred by such person indemnify his/her personal representative in terms of and subject to the limitations of this Policy provided that such personal representative shall as though such representative was the insured observe fulfill and be subject to the terms exceptions and conditions of this Policy in so far as they apply.
5. The Company may at its own option
a. Arrange for representation at any Inquest or Fatal Inquiry in respect of any death which may be the subject of indemnity under this Policy.
b. Undertake the defence of proceedings in any Court of Law in respect of any act or alleged offence causing or relating to any event which may be the subject of indemnity under this Policy.
AVOIDANCE OF CERTAIN TERMS AND RIGHT OF RECOVERY
Nothing in this Policy or any endorsement hereon shall affect the right of any person indemnified by this Policy or any other person to recover an amount under or by virtue of the provisions of the Motor Vehicles Act.
But the insured shall repay to the Company all sums paid by the Company which the Company would not have been liable to pay but for the said provisions.
APPLICATION OF LIMITS OF INDEMNITY
In the event of any accident involving indemnity to more than one person any limitation by the terms of this Policy and/or of any Endorsement thereon of the amount of any indemnity shall apply to the aggregate amount of indemnity to all persons indemnified and such indemnity shall apply in priority to the insured.
PERSONAL ACCIDENT COVER FOR OWNER-DRIVER
The Company undertakes to pay compensation as per the following scale for bodily injury/death sustained by the owner-driver of the vehicle, in direct connection with the vehicle insured or whilst driving or mounting into/dismounting from the vehicle insured or whilst traveling in it as a co-driver, caused by violent accidental external and visible means which independent of any other cause shall within six calendar months of such injury result in:
Nature of injury & Scale of compensation
Death - 100%
Loss of two limbs or sight of two eyes or one limb and sight of one eye - 100%
Loss of one limb or sight of one eye - 50%
Permanent total disablement from injuries other than named above - 100%
Private Car Insurance Provided always that.......
1. Compensation shall be payable under only one of the items (i) to (iv) above in respect of the owner-driver arising out of any one occurrence and the total liability of the insurer shall not in the aggregate exceed the sum of 15 lakhs during any one period of insurance.
2. No compensation shall be payable in respect of death or bodily injury directly or indirectly wholly or in part arising or resulting from or traceable to (1) intentional self injury suicide or attempted suicide physical defect or infirmity or (2) an accident happening whilst such person is under the influence of intoxicating liquor or drugs.
3. Such compensation shall be payable directly to the insured or to his/her legal representatives whose receipt shall be the full discharge in respect of the injury to the insured.
a. This cover is subject to
i. The owner-driver is the registered owner of the vehicle insured herein;
ii. The owner-driver is the insured named in this policy.
iii. The owner-driver holds an effective driving license, in accordance withGeneral Exceptio the provisions of Rule 3 of the Central Motor Vehicles Rules, 1989, at the time of the accident.
4. The personal accident cover for owner driver is mandatory for a period of one year and may be extended, in line with the duration of policy, at the
discretion of the customer"
View Also This :- HOW TO CHOOSE THE RIGHT TERM PLAN FOR LIFE INSURANCE?|| READ FULL DETAILS
Important Links :-
Private Car Package Policy : Click Here
NOW THIS POLICY WITNESSETH
That subject to the Terms Exceptions and Conditions contained herein or endorsed or expressed hereon;
SECTION I. LOSS OF OR DAMAGE TO THE VEHICLE INSURED
The Company will indemnify the insured against loss or damage to the vehicle insured here under and/or its accessories whilst thereon
1. By fire explosion self ignition or lightning:
2. By burglary housebreaking or theft;
3. By riot and strike;
4. By earthquake (fire and shock damage); 5. By flood typhoon hurricane storm tempest inundation cyclone hailstorm frost; 6. By accidental external means;
7. By malicious act;
8. By terrorist activity:
9. Whilst in transit by road rail inland-waterway lift elevator or air;
10 By landslide rockslide.
Subject to a deduction for depreciation at the rates mentioned below in respect of parts replaced Under Car Insurance
1. For all rubber/nylon/plastic parts, tyres and tubes, batteries and air
bags-50%
2. For fibre glass components-30%
3. For all parts made of glass-Nil
4. Rate of depreciation for all other parts including wooden parts will be as per the following schedule.
AGE OF VEHICLE || % OF DEPRECIATION
Not exceeding 6 months - Nil
Exceeding 6months but not exceeding 1 year - 5%
Exceeding 1 year but not exceeding 2 years-10%
Exceeding 2 years but not exceeding 3 years - 15%
Exceeding 3 years but not exceeding 4 years - 25%
Exceeding 4 years but not exceeding 5 years - 35%
Exceeding 5 years but not exceeding 10 years - 40%
Exceeding 10 years - 50%
5. Rate of Depreciation for Painting :
In the case of painting, the depreciation rate of 50% shall be applied only on the material cost of total painting charges. In case of a consolidated bill for painting charges, the material component shall be considered as 25% of the total painting charges for the purpose of applying the depreciation. The Company shall not be liable to make any payment in respect of:-
a. Consequential loss, depreciation, wear and tear, mechanical or electrical breakdown, failures or breakages;
b. Damage to tyres and tubes unless the vehicle is damaged at the same time in which case the liability of the company shall be limited to 50% of the cost of replacement.
C. Any accidental loss or damage suffered whilst the insured or any person driving the vehicle with the knowledge and consent of the insured is under the influence of intoxicating liquor or drugs.
In the event of the vehicle being disabled by reason of loss or damage covered under this Car Insurance Policy the Company will bear the reasonable cost of protection and removal to the nearest repairer and redelivery to the insured but not exceeding in all 1500/-in respect of any one accident.
4. In the event of the death of any person entitled to indemnity under this policy the Company will in respect of the liability incurred by such person indemnify his/her personal representative in terms of and subject to the limitations of this Policy provided that such personal representative shall as though such representative was the insured observe fulfill and be subject to the terms exceptions and conditions of this Policy in so far as they apply.
5. The Company may at its own option
a. Arrange for representation at any Inquest or Fatal Inquiry in respect of any death which may be the subject of indemnity under this Policy.
b. Undertake the defence of proceedings in any Court of Law in respect of any act or alleged offence causing or relating to any event which may be the subject of indemnity under this Policy.
AVOIDANCE OF CERTAIN TERMS AND RIGHT OF RECOVERY
Nothing in this Policy or any endorsement hereon shall affect the right of any person indemnified by this Policy or any other person to recover an amount under or by virtue of the provisions of the Motor Vehicles Act.
But the insured shall repay to the Company all sums paid by the Company which the Company would not have been liable to pay but for the said provisions.
APPLICATION OF LIMITS OF INDEMNITY
In the event of any accident involving indemnity to more than one person any limitation by the terms of this Policy and/or of any Endorsement thereon of the amount of any indemnity shall apply to the aggregate amount of indemnity to all persons indemnified and such indemnity shall apply in priority to the insured.
PERSONAL ACCIDENT COVER FOR OWNER-DRIVER
The Company undertakes to pay compensation as per the following scale for bodily injury/death sustained by the owner-driver of the vehicle, in direct connection with the vehicle insured or whilst driving or mounting into/dismounting from the vehicle insured or whilst traveling in it as a co-driver, caused by violent accidental external and visible means which independent of any other cause shall within six calendar months of such injury result in:
Nature of injury & Scale of compensation
Death - 100%
Loss of two limbs or sight of two eyes or one limb and sight of one eye - 100%
Loss of one limb or sight of one eye - 50%
Permanent total disablement from injuries other than named above - 100%
Private Car Insurance Provided always that.......
1. Compensation shall be payable under only one of the items (i) to (iv) above in respect of the owner-driver arising out of any one occurrence and the total liability of the insurer shall not in the aggregate exceed the sum of 15 lakhs during any one period of insurance.
2. No compensation shall be payable in respect of death or bodily injury directly or indirectly wholly or in part arising or resulting from or traceable to (1) intentional self injury suicide or attempted suicide physical defect or infirmity or (2) an accident happening whilst such person is under the influence of intoxicating liquor or drugs.
3. Such compensation shall be payable directly to the insured or to his/her legal representatives whose receipt shall be the full discharge in respect of the injury to the insured.
a. This cover is subject to
i. The owner-driver is the registered owner of the vehicle insured herein;
ii. The owner-driver is the insured named in this policy.
iii. The owner-driver holds an effective driving license, in accordance withGeneral Exceptio the provisions of Rule 3 of the Central Motor Vehicles Rules, 1989, at the time of the accident.
4. The personal accident cover for owner driver is mandatory for a period of one year and may be extended, in line with the duration of policy, at the
discretion of the customer"
View Also This :- HOW TO CHOOSE THE RIGHT TERM PLAN FOR LIFE INSURANCE?|| READ FULL DETAILS
Important Links :-
Private Car Package Policy : Click Here
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