Page 199 - Motor Insurance Ebook IC 72

Guide for Motor Insurance

ii) Year of manufacture -This is necessary to
decide the age of the vehicle particularly for
comprehensive cover.

iii) Type of body, seating capacity and Cubic
capacity- These are required for Rating.

iv) Date of Purchase - This is required for
applying loading in case of late Registration

v) Insured's estimate of the value of the vehicle-
Required for premium calculation and this is
also the Sum Insured in Motor.

(c) Details of other vehicles - Details of Vehicles
owned by the proposer and details of accidents
during the past 3 to 5 years give some idea about
the physical and moral hazard.

(d) Details of insurance history-This is to ascertain
whether there were any adverse features, such
as declinature, cancellation or imposition of special
terms and conditions by previous insurers.

(e) Questions relating to extra benefits and eligibility
for discount - Required for additional premium or
discount of premium as the case may be.

(f) Certain other particulars in case of commercial
vehicles - E.g. the type of permit, the total licensed
passenger carrying capacity etc.

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