Private Car Insurance
As we are aware today Private cars range from a lakh to a few crores, and insuring them has become very important as in case of any unfortunate incidents, the financial loss at stake is very high. As we are part of the Motor Vehicle Evolution we have also witnessed huge innovation in the field of Car Insurance as well. Today the coverages have been designed with the intent of being able to cover all types of Risks.
Section 1 – Loss of or Damage to the vehicle insured
- By Fire, explosion self-ignition or lightning;
- By Burglary, housebreaking or theft;
- By Riot and strike;
- By Earthquake (Fire and Shock Damage);
- By Flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost;
- By Accidental external means;
- By Malicious act;
- By Terrorist activity;
- Whilst in transit By road Rail Inland - Waterway lift elevator or air;
- By Landslide, Rock slide.
Subject to deduction for depreciation at the rates mentioned below in respect of parts replaced
(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. And
(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.
(b) The company is furnished forthwith with a detailed estimate of the cost of repairs; and
(c) The Insured shall give the Company every assistance to see that such repair is necessary and the charges are reasonable.