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Car insurance policy is taken by the owner to protect her vehicle from damages and/or loss arising from unavoidable and unforeseen circumstances. It provides cover against theft, total/partial, Third Party Liability arising out of Motor vehicle accident
Let us take a look at the different types of car insurance.
This is mandatory cover under the Motor Vehicles Act. It covers third party injury, death or damage to the property of third party.
Own damage to private car: Own Damage (OD) Car insurance helps you stay covered against damage caused to your vehicle due to accidents like fire, theft, etc. In case of an accident, an own damage cover compensates you for expense to repair or replace parts of your Private Car damaged in the accident. Your own damage insurance policy covers damage caused by fire explosion, riots and strikes, earthquake (fire and shock damage), floods, accidental external means, malicious acts, terrorist activity, whist in transit by road, rail, air, water or lift, and landslides. You are also covered in case of housebreaking and theft.
However, it does not cover the following
Third party insurance policy is a statutory requirement as per the Motor Vehicles Act, 1988, and driving without a third-party insurance policy for Private car in a public place is an offence punishable by law.
There are two types of third-party liability coverage. First coverage to third party person i.e. bodily injury/ Death/ disability etc. covers costs resulting from an accident to an insured vehicle. These injuries' costs could include expenses like hospital care, lost wages, and pain and suffering due to the accident. Second, property damage liability covers costs resulting from damages to or loss of property from an insured vehicle.
Choose wisely and secure your two wheeler with our range of add-on covers.
Depreciation Cover: It covers depreciation component applicable in the event of claim on the value of parts replaced as a result of admissible claim under Own Damage Section (Section I) of the policy.
Passenger Assist: This add-on offers comprehensive coverage to secure the passengers travelling in the insured vehicle.
Consumable Cover: It covers expenses incurred towards those items or substances of specific use which at the time of loss are either totally consumed or rendered unfit for further consumption arising out of damage to the vehicle insured and/or to its accessories. Major items covered are engine oil, coolant, fuel filter etc.
Engine Safe Cover: It covers expenses incurred for repair or replacement of internal parts of gearbox (such as gears or shafts, bearings, gear oil and gaskets), engine block and internal child parts of engine, labour cost (incurred towards overhauling the damages engine/gear box), engine compression tests and other machining charges due to ingression of water in the engine or leakage of lubricating oil from the engine / assembly arising out of accidental damage.
GAP Value Cover: It insures the difference between the Insured declared value and the purchase price or current replacement value of the vehicle (whichever is lower). It also covers the Road Tax and first-time registration charges of the vehicle.
Special Conditions applicable to this benefit-
Key Loss Cover: The Company will reimburse the cost of replacing vehicle keys in case of irrecoverable occurrences of broken or damaged keys and replacing locks and keys in case of theft of keys and /or if the vehicle is broken into along with damage to the locks/keys of the insured vehicle resulting in security threat to the vehicle.
Roadside Assistance Cover: It provides assistance to insured and passengers of the vehicle in case of distress "due to breakdown of the vehicle". The services provided under the Roadside Assistance are as follows:
Disclaimer: For more details on risk factors, terms & conditions please read sales brochure carefully before concluding a sale. *The discount amount will vary subject to vehicle specification and place of registration
Liberty Mutual Insurance Group Announces
New Joint Venture Partnership for Indian
Chances are that you are among a large number of people who forget to renew their vehicle insurance ....
Registration Number: 150 | ARN:Advt/2018/March/26 | CIN: U66000MH2010PLC209656
2019 Liberty General Insurance Ltd.
Reg Office: 10th floor, Tower A, Peninsula Business Park, Ganpat Rao Kadam Marg, Lower Parel, Mumbai - 400013
Trade Logo displayed above belongs to Liberty Mutual and used by the Liberty General Insurance Limited under license. For more details on risk factors, terms & conditions please read sales brochure carefully before concluding a sale.