• Motor vehicle which includes private cars, Motorized Two wheelers and Commercial vehicles excluding vehicles running on rails
  • Owners of the vehicle, Financiers or Lessee, who have insurable interest in a motor vehicle.

Section II (Liability) of Package Policy :

1. Liability to third parties bodily injury and or death and property damage

2. Personal accident cover for the owner driver for a specified sum insured

The following are payable under Section II of the Package Policy subject to the limit of liability laid down in the Motor Vehicles Act :

  • The insured's legal liability for death / disability of third party
  • Loss or damage to third party property
  • Claimant's cost as decided by the court
  • All costs and expenses incurred with company's written consent
  • In case of death of an Insured person, entitled to indemnity for a liability incurred under this policy, his legal representative will be indemnified in place of insured, if he observed all conditions as the insured himself.

Section I (Own Damage - OD) of Package Policy:

Section I of package policy covers loss or damage to the vehicle and / or accessories due to

  • Accidental external means
  • Fire, Self ignition, lightning
  • Burglary, house breaking or theft
  • Terrorist activity
  • Riot, Strike and Malicious Damage
  • Earthquake
  • Flood, cyclone and Inundation etc
  • While in transit by rail, road, air, elevator, lift or inland waterways
  • Landslide or work slide

None of the above perils can be excluded from the scope of a policy.

Loss or damage to accessories by burglary/house breaking/theft

1. For private car it is covered

2. In case of Motorized Two Wheelers this can be covered on payment of an additional premium at 3% of the IDV of such accessories

3. Loss or damage to Lamp, Tyres, mudguard and / or bonner side parts, bumpers etc., can be covered on payment of additional premium. This is applicatble only to Commercial Vehicles.

If the vehicle is disabled in an accident, cover is provided for the reasonable cost