Motor business shall be categorized into:
- Motor private
- Motor commercial: PSVs, Lorries, Tractors, Trailers, and Motor Cycle.
The motor comprehensive insurance policy can be extended to cover the below benefits
- Windscreen cover
- Riots and strikes and civil commotion cover
- Special perils cover (Volcanic eruptions, floods, hurricanes, typhoons, earthquakes,
- sub-terrene fires)
- Medical expenses
- Repair authority. Limit above excess up to which a customer is allowed to undertake
- Bail Bond-Incase insured is arrested, insurance Company pays for his bond at police station.
- Emergency charges for transport to hospital
- Insured’s legal liability – Amount insured is liable to pay in case of a claim
- Passenger liability – Liability arising out of injuries sustained or property lost by
- Passengers while lawfully traveling in the insured’s car.
- Loss of use cover – If insured gets a claim, underwriter provides car hire charges.
- Personal accident cover
- Radio cassette and other additional accessories cover e.g. alloy, rims and other extras.
- Towing charges.
THIRD-PARTY ONLY COVER
Covers the insured against accidental loss or damage and/or death, bodily injury or loss or damage to property of third parties arising out of use of motor vehicles owned and/or operated by the insured.
THIRD-PARTY FIRE AND THEFT COVER
In addition to coverage provided under the third party only, this cover includes loss or damage arising from fire or theft only to the insured vehicle
In addition to the full third-party fire and theft, it covers accidental damage and malicious damage to the insured vehicle; however, the comprehensive cover does not imply that every conceivable risk is covered. Every policy has some perils that are not covered as per the exclusion under the policy e.g. terrorism, special perils, nuclear energy risks exclusion, riot, and strike.
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