Page 235 - Motor Insurance Ebook IC 72

Guide for Motor Insurance

Q 10. What are the model guidelines regarding age
considerations for fresh acceptance and
renewals of proposals requiring comprehensive
cover on following vehicles: a) Taxis b) Goods
Carrying Vehicles.

Ans. a) Taxis -Following are the model guidelines regarding
age considerations for fresh acceptance of proposals
requiring comprehensive cover on Taxis:
i) Upto 3 years - Comprehensive cover may be
granted
ii) Upto 5 years - Subject to inspection and satisfactory
claims experience.
iii) Over 5 years but up to 7 years - Subject to inspection
with a compulsory excess of Rs. 5000.
iv) Over 7 years - Act only cover should be granted.
Up to 10 years old vehicles renewal may be done
on normal terms subject to satisfactory claims
experience. Over 10 years renewals should be
offered for Act only.

Commercial Vehicles - Following are the model
guidelines regarding age considerations for fresh
acceptance of proposals requiring comprehensive cover
on Commercial Vehicles:
1) Goods Carrying Vehicles (Own Goods)

i) Up to 5 years - Comprehensive cover may
be granted without much consideration.

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