INSURANCE COVER UNDER COMMERCIAL VEHICLE POLICY

Loss/damage to vehicle accessories

By:
(a)     Accidental external means
(b)     Fire, External Explosion, Self-ignition
(c)     Malicious Act
(d)     Whilst in transit by Road, Inland waterway, lift or Elevator.
(e)     Burglary, House Breaking, Theft of accessories only when vehicle is stolen at same time.

Exclusion

(a)     Consequential loss, depreciation, wear & tear, mechanical and electrical breakdown, failure, breakage.
(b)     Damage to tyre or caused by overloading, strain, Explosion of Boiler.
(c)     All nylon/rubber/plastic made parts and Batteries upto 50% of Replacement cost only payable.

Cost of protection and Towing to workshop

Rs. 1500/-

 

 

Authority to carry accident repair subject to estimate being submitted

Rs. 150/-

Death injuries to any person excluding where arising out of and in course of employment

 All sum subhect to limit of Rs. 150000/- including claimant’s cost and expenses for which Insured shall become legally liable but excluding liability beyond limit of carriage way/throughfare/for loading-unloading and also excluding personal conveyed other than in pursuance of contract of employment and excluding damage to property conveyed by Vehicle.  In addition Vehicles Carrying passenger for hire/reward should compulsarily cover liability to Passenger for specified amount at additional Premium.

Damage to property other than Insured/in control of Insured

Area of use

Nepal, India, Bangladesh and Bhutan

Limitations as to use

Policy does not cover for organised racing, pace-making reliability trail, speed testing, or whilst drawing trailer except towing other than for reward of any disabled mechanically propelled Vehicle.

Driver

Any person including Insured’s employee who is driving on Insured’s order/with his permission.  Provided person driving be charged for limit of Rs. 7500 any one passenger.

Discount on Premium

(a)     Insured bearing excess O/D.
(b)     Fleet rebate

Additional Perils covered at extra Premium

(a)     Riot & Strike
(b)     Earthquake
(c)     Flood
(d)     P/A to Driver, Cleaner & Conductor

No Claims Bonus

Preceding    year – 15%
Preceding 2 year – 25%
Preceding 3 year – 30%

Please ensure Vehicle is insured for full value to have adequate Indemnity.
Acceptance of this Proposal is subject to current rules/regulations of Tariff.

Complete answers to all questions will facilitate the Company quoting correct Tariff Rate of Premium
Liability of the Company does not commence until this proposal is accepted and Premium Paid.

N.B.  Foregoing is only broad indication of cover offered.  For full details, Please refer to the Company.