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| | | What are the types of motor insurance policy? | There are two types of motor insurance policies:-
Liability Only Policy : This policy covers Third Party Liability (TPL) for bodily injury and/or death and property damage. Personal accident cover for owner-driver is also included. This cover is mandatory under the Motor Vehicles Act. While the insured is the first party, the insurance company is the second party and all others are third parties.
Package (Comprehensive) Policy: This policy covers loss or damage to the vehicle insured (Own Damage or OD) and TPL. It entitles you to claim compensation in case your vehicle is stolen or damage. In addition, it also covers additional liabilities as provided by the India Motor Tariff. | | top |
| | | What are the main features of a Package (Comprehensive) policy? | A Package (Comprehensive) private motor insurance policy provides cover for :-
Loss or damage to your vehicle due to:
 | Fire, explosion, self ignition or lightning |
| Burglary, housebreaking or theft |
| Riot and strike |
| Earthquake (fire and shock damage) |
| Flood, typhoon, hurricane storm, cyclone, hailstorm and frost |
| Accidental external means |
| Malicious act |
| Terrorist activity |
| Goods- in- transit by road, rail, inland-waterway, lift, elevator or air |
| Landslide or rockslide |
Personal accident cover:
The motor insurance provides compulsory personal accident cover for individual owners of the vehicle while driving. You can also opt for a personal accident cover for passengers.
Third party legal liability against:-
| Third party injury |
| Third party death |
| Third party property damage |
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| | | What are the main features of a Third Party Liability (TPL) policy? | A Third Party Liability (TPL) policy is mandatory under the Motor Vehicle Act and provides cover against :-
- Third party injury
- Third party death
- Third party property damage
Click here to view TP liability premium as prescribed by TAC. | | top |
| | | What is the difference between a TPL Policy and a Package (Comprehensive) Policy? | | The difference between a TPL Policy and a Package Policy is that a TPL policy is mandatory under the Motor Vehicles Act while a Package Policy (Comprehensive) is optional. | | top |
| | | What is Third Party Property Damage (TPPD) Cover? | | Under TPL cover, you have an option to restrict the Third Party Property Damage (TPPD) cover to the statutory limit of Rs 6,000 as provided in the MV Act. However, this cover can be increased to Rs 7.5 lakh for cars and Rs 1 lakh for two-wheelers by paying a nominal additional sum of Rs 100 (private cars), Rs 150 (commercial vehicles – Taxis and three-wheelers ) and Rs 50 (two- wheelers). This option, however, is not applicable to damage caused to humans | | top |
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