IFFCO TOKIO GCV
Depreciation Waiver Coverage
ITGI will pay for Depreciation charges deducted in the own damage claim of Partial Loss under Standard Motor Package Policy in case of damage to the insured vehicle.
e.g. 50% depreciation applicable on Bumper or any other plastic parts in addition to other applicable depreciation on other parts which has been deducted in the main own damage claim of Standard Motor Package Policy, will be payable here
Special Provision – The replacement or repair of the parts will be decided by the authorized surveyor or representatives of ITGI.
New Vehicle Replacement
In case of Total Loss, ITGI will pay for the difference of amount between Ex Showroom Price of the same make, model and the IDV of the Insured Vehicle . Further the Registration cost and Insurance cost for new vehicle of same make, model as that of insured vehicle will also be payable by us
Exclusions: - ITGI will not pay for any difference between lower IDV than the prescribed IDV for the same make, model of the vehicle.
Daily Rental/Travel Cost (Applicable for PCP & TWP)
In case of Partial Loss/Total Loss, ITGI will pay for the Daily Rental/Travel Cost and the daily limit will depend on the IDV of the vehicle or as opted by insured. The total compensation will vary according to the type of claim i.e. total loss (30 days) or partial loss (14 days). The limit of liability will be in respect of each 24 hours.
Exclusions: - ITGI will not pay for-
i) First 24 hours of period of ITGI liability.
ii) The cost of fuel and other running, maintenance cost of the vehicle.
ii) More than 5% of daily rental/travel cost unless the bills are submitted.
Personal Effects and Belongings
ITGI will pay for the loss of damages to Personal Effects and Belonging in/on the insured vehicle in case of theft or operation of other insured perils upon the insured vehicle.
Exclusions: - ITGI will not pay for-
i) Property stolen unless the Insured Vehicle is locked and all doors & windows are properly fastened while unattended.
ii) Money, Jewellery and Valuables, Mobile phones, Laptops, Electrical accessories etc.
iii) Any Claim unless the complaint is lodged with Police
ITGI will pay for Medical Expenses including Hospitalization and Outpatient treatment including cost of medicines, various tests, operation, consultation fee etc for injuries sustained by insured person(s) in connection with insured vehicle as per the Limit of Liability, which is opted by Insured. Additional Benefits: - ITGI will also pay for Special expenses of Female insured person for their period of disability hiring Housemaid, Housekeeper and Tuition fees for children if the female insured persons are injured and disabled whilst driving or travelling in the insured vehicle. This amount will be payable for a maximum of 60 days. Exclusions: - ITGI will not pay for- Medical expenses whilst the driver driving the Insured Vehicle is under the influence of intoxicating liquor or drugs. Medical expenses unless the treatment following injury is not started within 24 hrs of injury.
Personal Accident Coverage
ITGI will pay for bodily injury/death as per Scale of Compensation from 100% to 10% for death, permanent total or partial disablement and also temporary total disablement for the period, the insured person is disabled subject. Additional Benefits: - We will also pay for Funeral expenses/Transportation of dead body, Rehabilitation program benefit, Cost of supporting items. Exclusions: - ITGI will not pay for – Any Claim arising from or resulting from intentional self injury, suicide or attempted suicide, physical defect or infirmity. Any Claim for Additional Benefit(s) unless the bills, receipts are submitted to ITGI. More than 100% of the Sum Insured stated in the schedule after adding degree of disablement, even if accident impairs a number of physical or mental functions.
No Claim Bonus Protection
NCB will be earned, retained in this benefit even if there is a claim under the main Standard Motor Policy. However the percentage of NCB earned or retained may vary according to the no. of claims. Exclusions: - No NCB can be earned if there are more than 2 claims. Important Point:- This coverage will be given only to selected class, type of vehicles and also to a special group of customers depending upon the profile.
Increased Property Damage Liability Benefit
ITGI will pay for Legal Liability to third party property damage including legal expenses in excess of Section II, Liability to third party property damage which is available under Standard Motor Package Policy.
Wreckage/Debris Removal & Transshipment Cost
ITGI will pay for cost, expenses, charges in respect of the cleaning and removal of debris, wreckage of the vehicle and goods falling from the vehicle due to the accident to the vehicle. “It also covers the transshipment costs for goods due to accidents in commercial vehicle”. Exclusions: - ITGI will not pay for any cost if the insured vehicle is parked or located in their residential premises/business, office premises where the vehicle is parked normally incase of Wreckage/Debris Removal or Transhipment Cost.
Loss of Income or Vehicle Hire Cost (Applicable for Commercial Vehicles
ITGI will pay for hiring cost of same make, model or for loss of income/revenue following accident to the insured vehicle. This limit of liability (hiring cost) will be for each 24 hours) Exclusions: - ITGI will not pay for- First 24 hours of period of ITGI liability. The cost of fuel and other running, maintenance cost of the vehicle. More than 5% of daily rental/travel cost unless the bills are submitted.
Towing and/or Removal/Storage of the Insured Vehicle
ITGI will pay or arrange for Towing, Removal or Storage benefits in case of accidents. This will be in addition to benefits available under Standard Motor Package Policy. Exclusions: - ITGI will not pay for- Any Claim if the vehicle is able to be driven on its own power on self propelled basis unless in ITGI's opinion it it could increase or aggravate the damages sustained by insure vehicle incase of Towing and/or Removal/Storage of Insured Vehicle.
Accommodation and Travelling Expenses
ITGI will pay for or arrange for Accommodation and travelling expenses will be provided if the vehicle is stolen/damaged at a distance of more than 100 (One Hundred) Kilometers for Two Wheelers /Private Cars and 200 (Two Hundred) Kilometers for Commercial Vehicles from the Place of Residence/Work. Exclusions: - ITGI will not pay for- More than 2 (Two) events in the coverage period. Any expenses more than actual seating capacity of the vehicle as per the Registration Certificate or actual number of insured person at the time of accident/theft.
Transport, Redelivery or Repatriation of Repaired Vehicle
ITGI will pay or arrange for Transport, Redelivery or Repatriation of insured vehicle following accident to the vehicle for which we have an own damage claim outside city i.e. 100 (One Hundred) Kilometers for Two Wheelers/Private Cars and 200 (Two Hundred) Kilometers for Commercial Vehicles provided the repair work is taking in excess of 72 hours. Exclusions: - ITGI will not pay for- i) If the Insured or his/her personal representative is already at the garage for the delivery of the vehicle or at the place of recovery in case of theft. ii) If the vehicle is recovered by Police Authorities and transferred to the Police Station.