Motor Trade-Road Risk

Key Feature

A) Comprehensive Cover
This form of cover provides Insurance against
Loss, destruction or damage to the insured vehicle caused by an insured event as stated in the policy wording.

B) Liability Only Cover
This form of cover provides Insurance against
Legal Liability to pay compensation for third-party injury or death arising out of the use of the insured vehicle.
Legal Liability to pay compensation for third-party property damage caused by the use of the insured vehicle
Compulsory Personal Accident for the owner-driver of the Insured Two-wheeler as per the policy terms and conditions

Coverage

Third party liability: protects against any legal liability arising out of the use of the vehicle, towards third parties arising on bodily injury to / on death of a person and any damage caused to third party property.

Loss or damage to the vehicle: The Policy covers against any loss or damage caused to the vehicle or its accessories 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, terrorist activity, and any damage in transit by road, rail, inland waterway, lift, elevator or air.

Additional covers at extra cost

Private Use Policy may be extended to cover user of vehicles for social domestic and pleasure purposes.

Demonstration Policy may be extended to cover driving for purposes of demonstration

Tuition Driving Extension Policy may be extended to cover driving for purposes of Tuition

Additional Legal liabilities

The following additional legal liabilities may also be opted for at an additional premium

Paid drivers employed in operation of vehicle.
Employees travelling in/driving the vehicle other than paid driver.

Exclusion

The Company will not be liable under the Policy in respect of loss or damage due to

Any loss/damage to the vehicle and/or its accessories will be not be covered if caused by the following-

Normal wear, tear and general ageing of the vehicle
Depreciation or any consequential loss
Mechanical/ electrical breakdown
Vehicle being used otherwise than in accordance with limitations as to use
Damage to / by a person driving the vehicle without a valid license
Damage to / by a person driving the vehicle under the influence of drugs or liquor