Car Insurance Policy

Motor Private Car Insurance Policy

Private car insurance policy provides coverage for loss of or damage to your vehicle against the risk of accident, fire, theft, floods, earthquake, riot, strike etc. The policy also gives coverage for your liability arising out of death, injury to third party and/ or third property damage.

What the policy covers: Loss or damage to the insured vehicle, Personal Accident and Third Party Liability due to the following: Natural calamities -- Fire, explosion,self-ignition, lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide, rockslide. Man made: Burglary,Theft,Riot & strike, Malicious act, Accident by external means, Any damage in transit by road, rail, inland waterway, lift, elevator or air. Personal Accident Cover: Provides compulsory personal accident cover of Rs. 2 lakhs for individual owner driver of the insured vehicle while travelling in, mounting or dismounting from the car. You can also opt for a personal accident cover for passengers. Third party legal liability: Gives guaranteed protection against legal liability arising due to accidental damages, any permanent injury/ death of a person and/or  any damage caused to the property. Key Benefits Cashless claim facility at Cashless Garage Network across India. Claim towing charges up to Rs 1,500 in the event accidental damage or loss to your vehicle as specified under the policy Avail the following bonuses and discounts: No Claim Bonus: If you do not make a claim during the policy period, a No Claim Bonus (NCB) is offered on renewals. The discount can go as high as 50%. (NCB will only be allowed provided the policy is renewed within 90 days of the expiry date of the previous policy.) Transfer your NCB: You can transfer full benefits of No Claim Bonus when you shift your motor insurance policy from another company to ITGI. The discount rate remains the same, provided you show evidence that you are entitled to No Claim Bonus from your previous motor insurance Renewal notice or Letter confirming the NCB entitlement from the previous insurer or NCB declaration Additional discounts: Members of recognised Automobile Associations in India can avail a discount of 5% on the OD Premium subject to a maximum of Rs. 200.00 Discount for Anti-theft Devices: In case you have installed Automobile Research Association of India (ARAI) approved anti theft device in your vehicle, you get a discount of 2.5 % on the OD Premium to a maximum of Rs. 500.00 Cover yourself and your family: You can also opt for personal accident cover of up to Rs. 2 Lakhs for other unnamed passengers in your car. For e.g. your family, relatives, friends etc. Customise your insurance with additional covers: Electrical and/ or non-electrical items fitted to the vehicle can be insured separately. For example: fog lights, music system In case of vehicles fitted with bi-fuel system such as Petrol/ Diesel and CNG/ LPG, permitted by the concerned RTO, the CNG/LPG kit fitted to the vehicle is to be insured separately at an additional premium of 4% on the value of such kit. You need to specifically declare this in the proposal form. Sum Insured with IDV The vehicles are insured at a fixed value called the Insured’s Declared Value (IDV). IDV is calculated on the basis of the manufacturer’s listed selling price of the vehicle (plus the listed price of any accessories) after deducting the depreciation for every year as per the schedule provided by the Indian Motor Tariff. If the price of any electrical and / or electronic item installed in the vehicle is not included in the manufacturer’s listed selling price, then the actual value (after depreciation) of this item can be added to the sum insured over and above the IDV. Two wheeler ITGI’s comprehensive Package Policy for two wheelers covers Loss or damage to the vehicle insured, Personal Accident and Third Party Liability. What the Policy Covers: Loss or damage to your vehicle: Any loss or damage caused to the vehicle due to the following natural and man made calamities. Natural Calamities – Fire, explosion, self-ignition or lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide, rockslide. Man made Calamities – Burglary, theft, riot, strike, malicious act, accident by external means, any damage in transit by road, rail, inland waterway, lift, elevator or air. Personal accident cover: The motor insurance provides compulsory personal accident cover of Rs. 1 lakh for individual owner driver of the vehicle insured while traveling in, mounting or dismounting from the vehicle. You can also opt for a personal accident cover for pillion rider. Third party legal liability: Protects against legal liability arising due to accidental damages, any permanent injury/ death of a person and/or any damage caused to the property. Key Benefits Cashless claim facility at our Cashless Garage Network all across India. No Claim Bonus:  If you do not make a claim during the policy period, a No Claim Bonus (NCB) is offered on renewals. This discount can go as high as 50%. (NCB will only be allowed provided the policy is renewed within 90 days of the expiry date of the previous policy.) Transfer your NCB:  You can transfer full benefits of No Claim Bonus when you shift your motor insurance policy from another company to ITGI. The discount rate remains the same, provided you show evidence that you are entitled to No Claim Bonus from your previous motor insurance. You can present the following: Renewal notice or Letter confirming the NCB entitlement from the previous insurer or NCB declaration Additional discounts Members of recognised Automobile Associations in India can avail a discount of 5% on the OD Premium subject to a maximum of Rs. 50 Discount for Anti-theft Devices:  In case you have installed Automobile Research Association of India (ARAI approved) anti theft device in your vehicle, you get a discount of 2.5 % on the OD Premium to a maximum of Rs. 500. Sum Insured The vehicles are insured at a fixed value called the Insured’s Declared Value (IDV). IDV is calculated on the basis of the manufacturer’s listed selling price of the vehicle (plus the listed price of any accessories) after deducting the depreciation for every year as per the schedule provided by the Indian Motor Tariff. If the price of any electrical and / or electronic item installed in the vehicle is not included in the manufacturer’s listed selling price, then the actual value (after depreciation) of this item can be added to the sum insured over and above the IDV.

Source: http://www.iffcotokio.co.in