Page 153 - Motor Insurance Ebook IC 72

Guide for Motor Insurance

Gross Vehicle Weight, which means the total weight
of the Vehicle and Load certified by the registering
authority as permissible for that vehicle. Based on
GVW, the specified amount of premium plus a
percentage surcharge on the IEV is charged. A
discount of 30% may be allowed to Own Damage
Premium for vehicles which are used for carrying
"own goods" only.

(2) Vehicles Carrying Passengers for Hire or
Reward -
i) Taxis with carrying capacity up to 6
Passengers - The Rate is based on Cubic
Capacity up to 1500 c.c. and exceeding 1500
c.c.
ii) Three Wheelers with carrying capacity up to
6 Passengers - The Rate is based on Cubic
Capacity (different capacities given under
Tariff).
iii) Other Vehicles with carrying capacity
exceeding 6 Passengers - The rates are based
on Licensed Passenger Carrying Capacity
and

(3) Trailers - The rate varies according to the class of
vehicle that will tow the trailer and the number of
trailers towed.

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