Tuesday, June 23, 2015

Kinds of policies


The policies under motor insurance are as follows:
(i) Act liability only.
(ii) Third party only.
(iii) Comprehensive policy.

*** Comprehensive policy:


The comprehensive policy covers the following risks:
(i) Damage to car parts or body.
(ii) Removal charges for repairs.
(iii) Third party liabilities.
(iv) Costs & expenses incurred with risk.
(v) Repair charges.
(vi) Medical expenses.

At the payment of extra premiums, the following risks are also insured:-

(i) Death or injury to family members who are above 16 years & below 65 years.
(ii) Riots, strikes, thefts, larceny, etc.
(iii) Loss of Rugs.

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