Page 234 - Motor Insurance Ebook IC 72

The Insurance Times

Each case is decided on the individual merits and
acceptance is subject to an excess, exclusion of personal
accident benefits and loading of premium. In some
cases, driving may be restricted to named persons.

If the car is fitted with luxury items e.g. music systems,
etc. then there is the additional risk of theft. Before
acceptance, full details of the luxury fittings including
the make and model and separate values for each item
are obtained.

In the present day motor vehicles come with these fittings
as standard models. The values are included in the
manufacturers selling price. In such case the value is
part of IDV and insured accordingly. There is no need
to declare these items and insured them separately.

The mileage run by the vehicle is also a factor for
acceptance. An excessive average mileage would
signify greater wear and tear. This would require an
adjustment downward on IDV. It will also mean more
extensive damages in the event of a claim.

During the tariff regime, in the 1980's the insurers had
evolved model guidelines for acceptance of other vehicle
vis-à-vis their age etc.

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