In­surance for Com­pre­hen­sive Cover

Consumer Voice - - Insurance For Your Two-wheeler -

While the MV Act does not pro­vide for cov­er­ing in­surance for other types of risks, like theft, fire, or even dam­age to the owner’s ve­hi­cle, al­most all the gen­eral (non-life) in­surance com­pa­nies of­fer the com­pre­hen­sive cover as an op­tion.

What Is Cov­ered?

A com­pre­hen­sive cover (also called pack­age pol­icy) as­sures some clear ben­e­fits, as listed be­low.

On to­tal or par­tial loss/dam­age to your twowheeler Against nat­u­ral calami­ties such as:

• Fire

• Ex­plo­sion

• Self-ig­ni­tion or light­ning

• Earth­quake

• Flood

• Typhoon

• Hur­ri­cane

• Storm

• Tem­pest

• In­un­da­tion

• Cy­clone

Op­tional Add-On Cov­ers

The fol­low­ing ad­di­tional cov­ers are avail­able on pay­ment of ex­tra pre­mium:

• Nil de­pre­ci­a­tion cover (noth­ing payable in case of par­tial loss; de­pre­ci­a­tion avail­able to a max­i­mum of 50 per cent on var­i­ous metal, plas­tic, fi­bre or rub­ber parts in the event of to­tal loss)

• Loss of ac­ces­sories (elec­tri­cal/elec­tronic)

• Loss of driv­ing li­cense

• Daily cash al­lowance (dur­ing the pe­riod of

post-ac­ci­dent re­pair)

• En­gine pro­tec­tion

• Tyres and tubes

• NCB pro­tec­tion

• Anti-theft de­vice • Hail­storm

• Frost

• Land­slide

• Rock­slide Against man­made calami­ties such as:

• Bur­glary

• Theft

• Riot

• Strike

• Ma­li­cious acts

• Ac­ci­dent by ex­ter­nal means

• Ter­ror­ist ac­tiv­ity

• Any dam­age in tran­sit by road, rail, in­land wa­ter­way, lift, el­e­va­tor or air

What Is Not?

• Nor­mal wear and tear

• Break­downs

• Con­se­quen­tial loss

• Loss oc­curred due to in­valid driv­ing li­cense (ex­pired li­cense)

• Loss oc­curred on ac­count of drunken driv­ing and/or drugs in­take

• Loss due to civil war, war, etc.

• Claims aris­ing out of con­trac­tual li­a­bil­ity

• Use of the ve­hi­cle oth­er­wise than in ac­cor­dance with ‘lim­i­ta­tions to use’ (for ex­am­ple, when driven by a per­son other than owner/driver and/or as stated in the driver’s clause)

• Any ac­ci­den­tal loss or dam­age and/or li­a­bil­ity caused/sus­tained/in­curred out­side the

Handy Tips

Opt for pol­icy cover for a longer pe­riod (to avail dis­count). Opt to buy your pol­icy on­line (dis­counts are avail­able). Opt for vi­tal ad­di­tional cov­ers such as en­gine pro­tec­tion, zero de­pre­ci­a­tion and anti-theft de­vice (to en­sure ad­di­tional pro­tec­tion on pay­ment of a small price). ge­o­graph­i­cal area as men­tioned in the pol­icy doc­u­ment This list is in­dica­tive.

Other Key Ben­e­fits to Take Note of

The fol­low­ing ad­di­tional cov­ers are avail­able on pay­ment of ex­tra pre­mium:

• Most in­surance com­pa­nies are of­fer­ing up to one lakh ru­pees as per­sonal ac­ci­dent cover to the pol­i­cy­holder to­wards un­lim­ited li­a­bil­ity for third-party death/ bod­ily in­jury claims and in­dem­nity for third-party prop­erty dam­age (one com­pany gives up to two lakh ru­pees).

• One in­surance com­pany of­fers dis­count up to 40 per cent on pre­mium for pur­chas­ing the pol­icy on­line.

• Some com­pa­nies of­fer in­surance cover for ac­ces­sories (such as dam­ages to mud­guard, lamp/lights, tyres, bumpers, etc.) on pay­ment of a small ad­di­tional pre­mium.

• A cou­ple of in­surance com­pa­nies of­fer cover against tow­ing charges (when the scooter/bike gets im­mo­bilised due to ac­ci­dent).

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