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Motor insurance

Insurance of motor vehicles and liabilities arising from the use of vehicles. Comprehensive policies cover loss/damage to the insured’s vehicle, liability to third parties and other sections depending on the type of vehicle. Third party fire and theft covers third party risks plus loss/damage to the insured’s vehicle if caused by fire and theft. Third party only is limited to third party risks only. Act only cover is less extensive than third party only as cover is limited to the compulsory insurance requirements of the Road Traffic Act 1988. Most policy forms have a foreign use section. The principal vehicle types are: private cars; commercial or goods-carrying vehicles; agricultural and forestry vehicles; motor trade; motorcycles, mopeds; and special types (e.g. mobile plant).

Motor Insurance Add-Ons : Legal Liability for Persons Employed in connection with the Operation of the Vehicle

Liability to any paid driver or cleaner or conductor or persons employed in loading/unloading may be covered on payment of additional premium. The premium to be charged on total number of such employees registered to be carried on the vehicle and the coverage is in terms of the Employees Compensation Act.

Motor Insurance Add-Ons : Techograph

Techograph is a precision instrument which records a vehicle’s driving pattern along the route for a period of 24 hours. It given an accurate record of the distance travelled, stoppages en-route (authorized or unauthorized), braking pattern, various speed levels etc. The Techograph provides irrefutable evidence in case of accidents by giving relevant information about the speed, time and place of accident. For the driver, it is also an assurance of safety as he will be warned when he is over-speeding. The Techograph promotes good driving habits and results in saving of fuel and maintenance costs and reduction of road accidents and is as such being installed by many Private Operators, State Road Transport Corporations and Public Owned Corporations and Fleet Operators.

Motor Insurance Add-Ons : Vehicles Driven by Non-Conventional Source of Power like battery, electric etc

(i) Pvt Cars/Taxes are rated as Private Cars/Taxis up to 1000 cc; (ii) Motorised 2 wheelers are rated as motorized 2 wheelers with capacity exceeding 150 cc but not exceeding 350 cc (iii) For vehicles driven solely by any other non-conventional source of power approved by RTA reference to be made to IRDAI.