Third-Party Liability Coverage
- Mandatory Coverage: This is the most basic and legally required form of motor insurance. It covers the policyholder’s legal liabilities towards a third party for injury, death, or property damage caused by the insured vehicle.
- Coverage Includes:
- Bodily injury or death of a third party.
- Damage to third-party property.
- Exclusions: It does not cover damage to the insured vehicle or injury to the policyholder
Comprehensive Coverage
- Extensive Protection: Comprehensive insurance covers both third-party liabilities and damage to the insured vehicle. It offers protection against a wide range of risks.
- Coverage Includes:
- Damage to the insured vehicle due to accidents, fire, theft, natural disasters (floods, earthquakes), and man-made calamities (riots, vandalism).
- Third-party liability for injury, death, or property damage.
- Personal accident cover for the policyholder.
- Optional Add-Ons: Policyholders can enhance coverage with add-ons like zero depreciation, engine protection, and roadside assistance.
- Exclusions: Wear and tear, mechanical or electrical breakdowns, and damage caused while driving under the influence of alcohol or drugs
Own Damage (OD) Coverage
- Stand-Alone Protection: This coverage focuses on protecting the insured vehicle against damages. It is usually available as an add-on to third-party liability insurance or as part of a comprehensive policy.
- Coverage Includes:
- Accidental damage to the insured vehicle.
- Theft or total loss of the vehicle.
- Damage due to fire, natural disasters, or man-made calamities.
- Exclusions: Similar to comprehensive coverage exclusions
Personal Accident (PA) Cover
- Driver Protection: This coverage provides compensation in case of injury, disability, or death of the policyholder (or named driver) due to an accident involving the insured vehicle.
- Coverage Includes:
- Compensation for accidental death.
- Compensation for permanent total disability.
- Optional cover for co-passengers and unnamed drivers.
- Exclusions: Intentional self-injury, suicide, or injury caused while driving under the influence of alcohol or drugs
Zero Depreciation (Nil Depreciation) Cover
- Full Value Coverage: An add-on to comprehensive insurance, this cover ensures that the policyholder receives the full claim amount without any deduction for depreciation of vehicle parts.
- Coverage Includes:
- Full replacement cost of parts like plastic, rubber, and metal without factoring in depreciation.
- Exclusions: Wear and tear, mechanical breakdowns, and damages not covered under the base policy.
Engine Protection Cover
- Engine Safety: An optional add-on that covers damages to the engine due to water ingression, oil leakage, or other non-accidental causes.
- Coverage Includes:
- Repair or replacement of engine parts and gearbox.
- Exclusions: Damage caused due to regular wear and tear or if the vehicle was driven in a waterlogged area without proper care
These various motor insurance coverages allow vehicle owners to customize their policies based on their needs, providing different levels of protection against risks associated with owning and operating a vehicle.
