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As per the Motor
Vehicle Act, all the vehicles plying in the Territorial Limits of India
must possess an ACT POLICY at all times. The violation is punishable with
fine etc., as per Motor Vehicle act (as prevalent at the time of detection)
What is covered?
Third Party Property Damage
/ Bodily Injury (Fatal or Non-fatal) when Insured vehicle is used in a
public place.
Insured's legal liability, as per
Motor Vehicle Act, arising out of accident caused by or arising out of
the use of the vehicle anywhere in India.
Such liability as above in respect
of injury (fatal or non-fatal) to any third party and damage to any third
parties' property.
Who can take the policy?
Owners of the vehicle having insurable interest
in it.
What is the Period
of Insurance?
Annual/12 months from the date of inception.
Short period covers available at higher rates.
What is the Compensation?
Subject to limit of liability laid down in
the Motor vehicle act, the policy pays the insured's legal liability for
death/disability for third party.
Loss or damage to third party property, liability
for claimant's cost is also met (Max. Rs. 6,000/-) unless additional premium
for opting unlimited cover is paid.
All costs and expenses incurred with insurer's
written consent.
In case of death of the Insured/ Person entitled
to compensation for a liability incurred under this policy, his legal
heirs will be indemnified as in the case of the Insured, subject to the
limitations of use of the vehicle provided Driver was holding a valid
and effective driving license.
What is Liability of the insurers
with regard to Third Party Bodily Injury/ Death Claims?
Third Party (A person other than Insured and
the Insurer) who is injured /dies due to an accident with the Insured
Vehicle, the amount of compensation adjudged by the Motor Accident Claims
Tribunal is made good by the insurers and is payable to the Legal Heir
of the Deceased or the Injured. The amount of compensation is unlimited/
has no preset limit.
All costs and expenses incurred by the insured
with Insurer's written consent.
What is liability of the insurers
with regard to Third Party Property Damage?
The compensation payable to Third Party for
damage to its property (moveable or fixed) is restricted to Rs. 6000/-
{Rupees Six Thousand Only}, irrespective of the amount adjudged by the
Motor Accident Claims Tribunal/Court. This compensation limit can be increased
to Unlimited by paying of an additional Premium at the time of taking
insurance.
All costs and expenses incurred by Insured with Insurer's written consent.
What is liability of the insurers
towards Employee (Other than payed driver) of Insured?
Claims arising out of and in the course of
employment of a person in the employment of the Insured are compensated
to the extent of Rs.20,000 when an Employee (Other than payed driver)
is in the driving seat.
What is Non Idemnifiable/ Not Paid?
Consequential loss, wear and tear, mechanical
or electrical breakdowns, failures & breakages.
Damage to tyres, tubes unless the motorcar is damaged at the same time
however , the liability of the insurer for tyres & tubes is limited
to 50% of the cost of replacement.
Any accidental loss or damage suffered whilst the insured or any other
person driving with the knowledge and consent of the insured is under
the influence of intoxicating liquor or drugs.
Contractual Liability. When vehicle is used outside the geographical area,
when used contrary to limitation as to use, driven by a person other than
the driver as stated in the clauses mentioned in the policy of insurance.
War Perils, nuclear perils and drunken driving.
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