Page 33 - Motor Insurance Ebook IC 72

Guide for Motor Insurance

clearance to the changes. The authority has prescribed
proposal forms for third party "Liability Only Policy "for
private car, two wheelers and commercial vehicles.
Existing two policy forms i.e. i) Liability only and ii)
package policy continues to be used.

7. Scope of cover against damage to the vehicle.
Ans: Own damage segment of the package policy covers
loss or damage caused to the vehicle or its accessories
due to the following perils, which can be broadly
classified as natural calamities and man made
calamities.

Natural Calamities: Fire, explosion, self-ignition or
lightning, earthquake, flood, typhoon, hurricane, storm,
tempest, inundation, cyclone, hailstorm, frost, landslide,
rockslide.

Man made Calamities: Burglary, theft, riot, strike,
malicious act, accident by external means, terrorist
activity, and any damage in transit by road, rail, inland
waterway, lift, elevator or air.

Motor insurance provides compulsory personal accident
cover to owner of the vehicle, while driving. One can
also opt for a personal accident cover for occupants
carried in the vehicle.

Sashi Publications - www.sashipublications.com 33

Copyright@ The Insurance Times. 09883398055 / 09883380339