Non Life Insurance - Which are the risks covered by a Comprehensive Policy?

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Although the Act Policy Form is identical for different classes of vehicles, the Comprehensive Policy Form is not. For Private cars and Motor Cycles, there are two Sections in the Comprehensive Policy. Section I concerns loss or damage to the vehicle and covers the risks like:

  • Fire, Explosion, Self-Ignition and Lightning.
  • Burglary, Housebreaking and Theft.
  • Riot, Strike, Malicious and Terrorism Damage.
  • Earthquake.
  • Flood, Typhoon, Hurricane, Storm, Tempest, Inundation, Cyclone, Hailstorm.
  • Accidental External Means.
  • Transit by road, rail, inland waterway, lift, elevator or air.

For motor cycles and commercial vehicles, the risk of Frost Damage is also covered. From the above coverage, for all classes of vehicles, the risks of Riot, Strike, Malicious and Terrorism Damage, Earthquake and Flood and Storm; can be opted out of with a consequent discount in premium.

In addition to these, cover is also available for Protection and Removal Costs and Authorisation of Repairs.

If a motor vehicle is disabled as a result of loss or damage due to the perils mentioned above, the insurance company bears the reasonable cost of protection and removal to the nearest repairer and the cost of redelivery to the owner/insured subject to a maximum limit, in respect of any one accident.

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