INSURANCE FOR GOODS CARRYING VAHECLES

his insurance policy can be used to insure any motorised vehicle that carries goods (the insured owner's own or for hire) including three-wheeled motorised rickshaws and motorised pedal cycle rickshaws.


Risks covered
This insurance policy provides compensation to the insured party based on
Own damage
Actual amount for repairs/ replacement subject to depreciation and sum insured.
Garage and towing charges limited to Rs.1,000/-
Market value or sum insured, whichever is lower in case of a certifiable total loss.Act liability
Unlimited liability towards the death or bodily injury of the third party.
Liability towards non-fare paying passengers
Liability towards workmen as per the Workmen's Compensation Act.
Liability towards third party property damage limited to Rs.6,000/-
Costs and expenses incurred with express content.
Liability of the paid driver is also covered as long and if he observes all conditions as the insured owner/ financier himself.
In case of death of the insured/ any person entitled to indemnity for an incurred liability, his personal representative will receive indemnity as in the case of the insured, if he observes all the conditions as the insured himself.
Compensation offered
This insurance policy provides compensation to the insured party based on
Own damage
Actual amount for repairs/ replacement subject to depreciation and sum insured
Garage and towing charges limited to Rs.1,000/-
Market value or sum insured, whichever is lower in case of a certifiable total lossAct liability
Unlimited liability towards the death or bodily injury of the third party
Liability towards non-fare paying passengers
Liability towards workmen as per the Workmen's Compensation Act
Liability towards third party property damage limited to Rs.6,000/-
Costs and expenses incurred with express content
Liability of the paid driver is also covered as long and if he observes all conditions as the insured owner/ financier himself
In case of death of the insured/ any person entitled to indemnity for an incurred liability, his personal representative will receive indemnity as in the case of the insured, if he observes all the conditions as the insured himself.
Exclusions
This insurance policy will never pay any claims arising from
Compulsory excesses specified by the policy
Consequential loss, depreciation, regular wear and tear, mechanical or electrical breakdown
War or nuclear perils
Vehicle being used outside the geographical limit of operation or is being driven by a person other than the authorised driver
Drunken driving or contractual liability
Damages to tyres unless vehicle is also damaged and liability is limited to 50 percent of the cost of replacement
Damage to lamps, mudguards, bonnet, bumpers or paint unless the vehicle is damaged at the same time