Motor Insurance is a type of insurance policy that provides financial protection against unexpected physical damage, theft, or third-party liability involving motor vehicles. Different Motor insurance issued for different types of motor vehicles. Motor Vehicles are usually classified in the following manner:
The vehicles which are under private registration and used for private purposes and not used for hire or reward, shall come under the scope of the Private Vehicles.
The insurer will indemnify the Insured against loss of or damage to the Motor Vehicle and/or its accessories whilst thereon.
| by fire external explosion, self-ignition or lightning | |
| by fire external explosion, self-ignition or lightning | |
| by burglary housebreaking or theft | |
| Eby Riot and strike including malicious damage | |
| by Earthquake (Fire and shock Damage) | |
| by Flood, Typhoon, Hurricane, Storm tempest, Inundation, Cyclone, Hailstorm, Frost | |
| by Accidental external means | |
| Whilst in transit by road, rail inland waterway, lift, elevator or air. |
Commercial Vehicle is any type of motor vehicle used primarily for business purposes, rather than personal use. These vehicles are used to transport goods, passengers, or perform services.
The insurer will indemnify the Insured against loss of or damage to the Motor Vehicle and/or its accessories whilst thereon.
| by fire external explosion, self-ignition or lightning | |
| by burglary housebreaking or theft | |
| by Riot and strike including malicious damage | |
| by Earthquake (Fire and shock Damage) | |
| by Flood, Typhoon, Hurricane, Storm tempest, Inundation, Cyclone, Hailstorm, Frost | |
| by Accidental external means | |
| Whilst in transit by road, rail inland waterway, lift, elevator or air. |
Motorcycle insurance is a type of motor vehicle insurance that offers financial protection for motorbike owners against various risks such as accidents, theft, natural disasters, and third-party liabilities.
The insurer will indemnify the Insured against loss of or damage to the Motor Vehicle and/or its accessories whilst thereon.
| by fire external explosion, self-ignition or lightning | |
| by burglary housebreaking or theft | |
| by Riot and strike including malicious damage | |
| by Earthquake (Fire and shock Damage) | |
| by Flood, Typhoon, Hurricane, Storm tempest, Inundation, Cyclone, Hailstorm, Frost | |
| by Accidental external means | |
| Whilst in transit by road, rail inland waterway, lift, elevator or air. |
No Claim Bonus (NCB): If there is no claim in a year you will be entitle to ‘No Claim Bonus’ NCB for each year of no claim is as follows:
| Sl# | No. of Year | NCB of Comprehensive Vehicle | ||
|---|---|---|---|---|
| PV | CV | MC | ||
| 01. | 1st Year | 30% | 30% | 15% |
| 02. | 2nd Year | 40% | 40% | 20% |
| 03. | 3rd Year | 50% | 50% | 25% |
Loading: Loading is applicable is as follows:
| Sl# | Period of Insurance | Loading of Comprehensive Vehicle | |
|---|---|---|---|
| PV | CV | ||
| 01. | One claim in preceding period of Insurance | 30% | 30% |
| 02. | Two claims in preceding period of Insurance | 40% | 40% |
| 03. | Three claims in preceding period of Insurance | 50% | 50% |
This Policies Terms, Conditions, Warranties, Exclusions & Deductible is applicable which are specifically excluded by the policy wording.
N.B.: For details, you are requested to contact to our nearest branch or Head Office.