Motor Trade-Internal Risk

Key Feature

A) Comprehensive Cover
This form of cover provides Insurance against
Damage to the vehicle (Own Vehicles) up to an amount of Rs. 50,000/- for any one accident
Damage to vehicles of third party up to an amount of Rs. 1,50,000/- for any one accident
Bodily injury unlimited
Property damage excluding damage to vehicles up to an amount of Rs. 1,50,000/- for any one accident

B) Liability Only Cover
This form of cover provides Insurance against
Bodily injury unlimited
Property damage excluding damage to vehicles up to an amount of Rs. 1,50,000/- for any one accident

Coverage

Loss or damage to own vehicles: The policy covers an amount of Rs. 50,000/- against any loss or damage caused to own vehicle or its accessories due to accidental, external and visible means and occurring in or on the premises insured.
Liability for third party bodily injury / death: protects against any legal liability arising because of the vehicle, towards third parties for bodily injury / death of a person.
Loss or damage to third party vehicles: The policy covers an amount of Rs. 1, 50,000/- against any loss or damage caused to third party vehicle or its accessories due to accidental, external and visible means and occurring in or on the premises insured.
Additional covers

Open air car parks
Open air car parks adjoining outside premises as given for insurance may be covered under scope of this cover with some additional premium.

More than one Premises
Any other premises owned by the Insured which is within 450 meters by road also may be covered under this Policy with additional premium.

Exclusion

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

Normal wear and tear
Depreciation or any consequential loss
Mechanical/ electrical breakdown
Loss / damage due to war, mutiny or nuclear risk
Failures or breakage nor for damage caused by overloading or strain
Damage to tyres by application of brakes or by punctures, cuts or bursts.