Page 37 - Motor Insurance Ebook IC 72

Guide for Motor Insurance

It is also required for any deviations from the erstwhile
tariff rates for the standard products. Based on this
leeway to insurers the following extra cover or Add-
ons are now being offered by insurers:
1. Depreciation reimbursement
2. Return to Invoice
3. No Claim Bonus protection
4. Repair of Glass, rubber, fiber & Plastic parts
5. Emergency transport and Hotel expenses
6. Loss of personal belongings
7. Key Replacement
8. Daily allowance
9. Engine Protector
10. Spot Assistance, etc.

Another significant change taken place in the field of
motor insurance is the creation of India Motor Third
Party Insurance Pool (IMTPIP), which come in to force
w.e.f 01/04/2007.

This pool is created to ensure availability of third party
insurance to commercial vehicles, since insurers resorting
to evade issuance of policies due to huge loss in this
segment.

IMTPIP is an arrangement made amongst all non-life
insurance companies transacting motor insurance

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