What does your vehicle insurance cover and what it doesnt?
Posted on: 27/Jun/2017 10:08:29 AM
According to the Motor Vehicles Act, buying an insurance cover is made mandatory with every purchase of vehicle. Your motor dealer will have arrange this for you, or you can get it on your own as well from any insurance company, but you need to make a detailed comparison of all the available plans. It is also necessary for you to know what your plan covers and what are the factors it doesn’t. All the mandatory requirements get filled under Third Party Insurance. This is offered at very low price, but it doesn’t encompass any damage done to the vehicle or even you. So, a comprehensive plan is always better. Even in these comprehensive plans, there are a few exclusions. Below are the details of what a motor insurance will not cover.
Learn what don’t get covered under comprehensive insurance:
Under own damage insurance, about 60 to 65 percent of a comprehensive plan gets covered. A lot of others however don’t get covered. Hence, you need to know the exclusions and the other terms and conditions associated with the plan so as to be precautionary instead of experiencing rejection of claim.
When the one who drives the vehicle at the time of accident does not carry the driving license, claims made for such cases will not be entertained, and the entire cost of repair falls on your head.
In almost all policies, driving after consumption of alcohol or drugs is not covered. In case of accident due to improper use of vehicle, the coverage is not included.
Each and every insurer has got a different time frame within which the information about mishap has to be updated. If this is not done, you will not be eligible for claiming for the damages.
When proper registration for vehicle is not done during accident, there will be no insurance money given.
There is a defined capacity for each and every vehicle. When you overload the vehicle and drive, and when an accident takes place at that time, there will be no insurance claim entitled to such cases. Accidents caused due to oil leak or starvation are not covered.
A few insurance polices are offered pertaining only to the specific geographical area like Delhi-NCR. When there is an accident beyond the area limit, the insurer will not cover the claim.
When you use a personal vehicle for needs beyond what is allowed or licensed to, you will be debarred from applying for insurance claim.
When you make any sort of intentional damage to the vehicle, those will not be covered.
For consequential losses, the insurance will not be covered. For example, lack of maintenance may cause serious vehicle damage. So, at such times, the bike will be disqualified from getting the insurance cover.
