• Widest and most selling general insurance product in India.
  • Sold separately for the following type of vehicles.

Two Wheeler-

Private Car

Broadly for above categories of vehicle the following two types of insurances policies are offered by insurers.

Liability Only Policy or
Standalone Third Party Liability

Package Policy (Liability Only Cover +
Damage to owner’s Vehicle usually
called Own Damage O.D Cover)

The Indian Motor Vehicle Act, 2018 has obligated on vehicle owner to mandatorily have “Liability Only Insurance Policy” failing which penal provisions get attracted. Own Damage” is a voluntary cover however it is prudent for the vehicle owner to take this cover to protect against financial loss which may arise from theft, fire and accidental damages to the vehicle.

What does Motor Insurance

The damages to the vehicle due to the following perils are usually covered under OD section of the Motor Insurance policy:

  • Fire, Explosion, Self - Ignition, Lightning
  • Burglary / Housebreaking / Theft
  • Riot & Strike
  • Earthquake
  • Flood, Storm, Cyclone, Hurricane, Tempest, Inundation, Hailstorm, Frost
  • Accidental External Means
  • Malicious Act
  • Terrorism Act
  • While in Transit by Rail / Road, Inland Waterways, Lift, Elevator or Air
  • Land slide / Rock slide

What does Motor Insurance

The following contingencies are usually excluded under
the Motor Insurance Policy:

  • Not having a valid Driving License
  • Under Influence of Intoxicating Liquor/ Drugs
  • Accident taking place beyond Geographical Limits
  • While Vehicle is used for Unlawful Purposes
  • Electrical / Mechanical Breakdowns.

Some of the terms
used in Motor Insurance

Insured Declared Value ( IDV)

IDV is value of the vehicle upto the age of 5 years arrived at based on the Manufacturer’s present value and depreciation based on the Age of the Vehicle. For vehicle more than 5 years of age this represents the present market value of the insured vehicle mutually agreed between insurer and insured at the time of buying insurance. In the event of theft or total loss, claim is settled at Insured declared value on the policy.   


Depreciation is such percentage value specified in the policy to be applied on various categories of vehicle parts in the event of partial damage claim.

No Claim Bonus

No claim Bonus is the accumulated discount percentage (maximum 50%) specified in the policy allowed to insured in Own Damage Premium at the time of renewal of insurance for continued Claim free years.

Add-on Cover in Motor Insurance Policy


Followings are some of the add-on covers offered by insurer subject to charge

  • Depreciation Waiver/ Nil Depreciatuon
  • Return to Invoice
  • No Claim Bonus Protection
  • Engine Protect
  • 24/ 7 Roadside Assistance
  • Key Replacement Cover
  • Tyre Cover
  • Accident Coverage for Co-passengers
  • Accessories Cover