1.
|
Whether motor premium can be paid in instalments ? |
|
As this class of insurance is tariff regulated , it is not permissible to accept premium in instalments. In fact as per Sec 64 VB of Insurance Act '1938 like other insurance premium , motor premium also is to be paid in advance before commencement of risk.
|
| |
 |
2.
|
Price/Discount/Excess for this Policy? |
|
Price and Excess vary according to individual Section.
One has to opt for at least three covers of the Policy.
Volume Discount i.e. if more than 4 Sections are opted 15% discount
on premium other than Fire and Workmen's Compensation Sections;
20% discount, if more than 6 Sections are opted. No other discount.
Price and Excess vary according to individual Section.
One has to opt for at least three covers of the Policy.
Volume Discount i.e. if more than 4 Sections are opted 15% discount
on premium other than Fire and Workmen's Compensation Sections;
20% discount, if more than 6 Sections are opted. No other discount.
Price and Excess vary according to individual Section.
One has to opt for at least three covers of the Policy.
Volume Discount i.e. if more than 4 Sections are opted 15% discount
on premium other than Fire and Workmen's Compensation Sections;
20% discount, if more than 6 Sections are opted. No other discount.
|
| |
|
3.
|
Basis of indemnity in the event of claim? |
|
No Claim Bonus is basically an incentive awarded to the owner of the vehicle for his credibility of keeping the vehicle safe and secured. Credit even goes to the owner if the vehicle is driven by his paid driver. This award is thus not transferable to anybody else on transfer/sale. On transfer the new owner again has to earn this No Claim Bonus.
|
| |
|
4.
|
What are the territorial limits under Personal Accident Policy? |
|
The cover provided under Personal Accident Policy is worldwide. However the claims are payable in India rupees only.
|
| |
|
5.
|
Why coverage is for students ? |
|
Individuals cannot always afford cost of health risk, therefore, passing on the risk to an insurer is best. Health Risk is present at all times. Continuous protection for unseen health contingencies is also required for students.
|
| |
|
6.
|
Who can take the Vidyarthi Policy ? |
|
Any Student between 3 to 25 years is eligible.
Parents/ Legal Guardian of Individual student in any Registered Educational Institution affiliated to any State Board, Council, University and AICTE or any other Govt. Statutory Authority, within the territory of India may take this policy. The Educational Institutions may also take a Group Policy covering named students enrolled with them.
|
| |
|
7.
|
Are Medical Reports necessary before taking Vidyarthi policy? |
|
No.
|
| |
|
8.
|
Any Income Tax benefit available in taking Vidyarthi policy? |
|
Yes. Guardian of the Insured will be eligible for deduction under Section 80D of the Income Tax Act, 1961 as amended from time to time, for the premium paid under Section I of the policy subject to limits specified in the Income Tax Act.
|
| |
|
9.
|
Why do I need to insure the vehicle ? |
|
Insurance protects and indemnify you against Losses suffered by you in
Unforeseen Accidents, damage & theft. Moreover it is Mandatory as per Motor vehicle Act. You can not ply vehicle on road without Insurance .
|
| |
|
10.
|
What is I D V? |
|
It is Insured Declared Value advised after applying depreciation percentage specified as per tariff or the showroom price of the vehicle, for vehicle not exceeding 5 years of Age and for others & obstacle Models, are to be insured or Market Value as agreed between Insured / & Insurer.
|
| |
|
11.
|
What are the document required at the time of Claim ? |
|
Claim intimation, Claim Form, Valid R. C. & Driving License, Estimate of repairs from Repairer, Bills/Cash Memos of Repair, Policy copy, F I R ( For theft & third party injury and any other documents depending upon case to case.
|
| |
|
12.
|
What is No Claim Bonus ? |
|
N C B, is a discount given to the insured vehicle, at the time of renewal of the policy after 12 months, if there is no claim during the covering of the policy. It is granted only on own damage section.
|
| |
|
13.
|
Is my N C B transferable ? |
|
Yes
|
| |
|
14.
|
Can my “ No Claim Bonus “ be forfeited ? |
|
Yes, if there is claim during the Insurance Period and if there is break in Insurance Period for more than 90 days.
|
| |
|
15.
|
What are the discounts available under Motor Policy? |
|
a. - Discount for Membership of Automobile Association.
b. - Discount for Anti theft devices.
c. - No Claim discount.
d. - Vintage and Classic Cars Club of India.
e. - Discount - vehicle designed for Handicapped person.
|
| |
|
| |
|
