We Cover

Motor vehicle which includes private cars, Motorised Two wheelers and Commercial vehicles excluding vehicles running on rails

Who can Insure ?

Owners of the vehicle, Financiers or Lessee, who have insurable interest in a motor vehicle.

Insured's Declared Value (IDV)

(a) In case of vehicle not exceeding 5 years of age, the IDV has to be arrived at by applying the percentage of depreciation specified in the tariff on the showroom price of the particular make and model of the vehicle.

(b) In case of vehicles exceeding 5 years of age and Obsolete models (manufacture of those vehicles which have been stopped by the manufacturers), they have to be insured for the prevailing market value of the same as agreed to between the insurer and the insured.

(a) Package Policy - Section I

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 workslide

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 Motorised 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 of the following :

  • Its removal to nearest reapirers
  • The cost of reasonalble repairs immediately necessary
    subject to the limit provided for.

(a) Package Policy - Section II

Section II (Liability) of Package Policy :

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

What is not payable under the policy ?

  • Contractual liability.
  • War perils, nuclear perils and drunken driving
  • Consequentail loss, Depreciation, Wear and tear, mechanical or electrical break down
  • Damage suffered due to driving the vehicle under the influence of intoxicating liquor or drugs
  • Claims arising outside the geographical area specified in the policy
  • Claims arising whilst the vehicle is used in contravention of the limitations as to use
  • Claims arising when the vehicle is driven by a person without valid driving licence

(b) Liability Only Policy

As per Section II of the package policy


The following are the discounts available on the premium payable.

  • Vintage Cars - Cars manufactured prior to 31.12.40 and duly certified by the Vintage and Classic Cars Club of India :

    A discount of 25% on the OD rates is available. Policies issued covering these vehicles are Agreed Value Policies.
  • No Claim Bonus :
    Ranging from 20% to 50% depending on the number of claim free years.
  • Automobile Association Membership Discount :
    Discount of 5% on the Own Damage premium subject to a maximum of Rs. 200/- for private cars and Rs. 50/- for Motorised Two wheelers only.
  • Discount for Anti Theft Devices :
    A discount of 2.5% on the OD component of premium subject to a maximum of Rs. 200/-. Device approved by the ARAI, Pune - installation of the same in vehicle certified by the Automobile Association of India.
  • Concession for vehicles laid up for continuous periods exceeding 2 months
  • 50% discount on the OD premium on the vehicle specialy designed / modified for use of the blind, handicapped and mentally challenged persons
  • Use of vehicles withing Insured's premises/sites :
    A discount of 33 1/1 % on the tariff rates is permissible.

Extension of Cover on payment of additional premium

Additional premium is payable to extend the cover under the Package and Liability Only policies in case of the following :

  • The Geographical area may be extended to include
    a) Bangladesh b) Bhutan c) Nepal d) Pakistan e) Sri Lanka f) Maldives by charging additional premium of Rs. 500/- per vehicle in case of package policy and Rs.100/- per vehicle in case of Liability only Policy.
  • Personal Accident covers are available to names and unnamed persons travelling in the Motor Vehicles including employees.
  • In case of vehicles belonging to Embassies / Consulates etc., where the "import duty" element is not included in the IDV the premium for Own Damage shall be loaded by 30%.
  • Electrical / Electronic Fittings : Electrical / Electronic Fittings which do not form part of the vehicle manufactured and imported have to be specifically covered separately by paying additional premium of 4% on the value of such fittings.
  • CNG / LPG-Bi-fuel Kits :
    Vehicles fitted with CNG/LPG Bi-fuel kits have to be separately declared and premium is chargeable at 4% on the value of such kit.
  • Fibre Glass Fuel Tanks :
    An additional premium of Rs.50/- for OD cover for all vehicles except Miscellaneous Type of Commercial Vehicles : for Miscellaneous Type of Commercial Vehicle it is Rs. 100/-.

Other Information

(I) Transfers :

In case of change of ownership, please ensure to effect the transfer of Insurance policy within 14 days from the date of transfers of ownership.

(II) Change of Vehicles :

A vehicle can be substituted by another vehicle for the same class, for the balance period of a policy subject to adjustment of premium, if any, on prorata basis from the date of substitution.


Particulars of cover, liability and exclusion given above are not complete or exhaustive.

Our nearest branch office may be approached for complete details.