Categories of Motor vehicle.

Two-Wheeler

Private Car.

Commercial Vehicle.

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Motor Insurance falls under two sections.

Section A: Motor Own damage

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Own damage section in a Motor Insurance provides financial protection to your motor vehicle against any damages caused due to accidents, natural disasters, theft, or any serious incidents. Any Extensions or add-on's fall apart of Section A.

Scope Of coverage

Section A of motor insurance covers damages arising out of the following perils.

• By fire explosion self-ignition or lightning.
• By burglary, housebreaking or theft.
• By riot and strike.
• By earthquake
• By flood, typhoon, hurricane storm and cyclone.
• By malicious act.
• By terrorist activity.
• By landslide / rockslide.
• Whilst in transit by road rail, inland waterway lift elevator or air.

Section B: Motor Third party

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Section B covers the mandatory third-party liability insurance covering legal liability arising from any death or injury or damage to a third party's property. Third-Party Insurance for a motor vehicle is a mandatory insurance requirement as per the Indian motor vehicle act 1988.

Scope Of coverage

Section A of motor insurance covers damages arising out of the following perils.

• This policy insures the liability of the owner of the vehicle against the third-party
• There is mandatory Personal Accident Insurance cover for 15 lakhs cover for Owner cum driver, which is also a part of the Insurance of two-wheeler and private car.
• For commercial and miscellaneous vehicle, PA cover has opted for paid driver and cleaner if required.

Abhivridhi Tip:

Always check The IDV of the two-wheeler before Insurance. Spare parts of certain cars are costly; make sure you rightly choose the Add-ons for your private car Insurance. Commercial vehicle claims are subject to depreciation; make sure IMT extensions are availed to minimise liability at the time of claim.