Page 191 - Motor Insurance Ebook IC 72

Guide for Motor Insurance

Q.13 Mention the discounts available on a Package
Ans. Policy of motor vehicle insurance.
Following discounts are available on a Package
policy of insurance:
1. Automobile Association Membership Discount.

Individuals, joint owners or companies who are
members of recognized automobile association e.g.
Automobile Association of Southern India or
Automobile Association of Upper India or Western
India Automobile Association, can avail of discount
on the Own damage premium. The discount is
usually a maximum of 5% with a cap on the amount
e.g. 5% max Rs. 200 overall.

2. Anti-theft devices
Vehicles fitted with anti-theft devices approved by
ARAI, Pune ( Automobile Research Association
of India) and are eligible to a discount not exceeding
2.5% of OD premium subject to a maximum of Rs.
500/-

3. Voluntary Excess Discount:
Insured's willing to bear a higher amount of loss for
OD claims in addition to the compulsory excess
under the policy will be entitled to a discount on the
premium depending on the additional excess they
are willing to accept. The discounts range from

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