Motor Commercial Vehicle Package Policy - For Passenger Carrying Vehicles

Section 1: Loss of or damage to the Vehicle Insured:
We cover loss or damage to your Vehicle due to any of the following reason up to Insured’s Declared Value (IDV).
 

Section 2:  Liability to Third Parties (TP) - Cover for Legal liability due to Accident resulting in

• Personal Injury of TP – Unlimited coverage as per Court Award for accidental Death or injury of the Third party
• Property damage of TP – Up to Rs.7,50,000 for accidental damage to property of Third party

Section 3: Towing Disabled Vehicles
The policy shall be operative whilst the insured vehicle is being used for the purpose of towing any one disabled mechanically propelled vehicle and the indemnity provided by Section II of this policy shall subject to its terms and limitations be extended to apply in respect of liability in connection with such towed vehicle.
Provided always that
(a)    Such towed vehicle is not towed for reward
(b)    The Company shall not be liable by reason of this section of this policy in respect of damage to such towed vehicle or property being conveyed thereby.
 

Section 4: Compulsory Personal Accident (CPA) cover for Owner-Driver: – The CPA cover offers compensation upto Rs.15 lakhs for personal injuries suffered by the registered Owner of the Insured Vehicle whilst driving, travelling or alighting into/out of the Insured Vehicle.  The registered Owner should hold an effective driving license. The Compensation will be paid to the nominee in an unfortunate event of death of the registered vehicle owner. 

• Section-I -OD Premium: The OD premium is a percentage of the IDV (Insured declared value) of the vehicle. The OD premium rate is based on age of the vehicle, cubic capacity (CC) /Kilo Watt (KW), Geographical Zone where vehicle is registered, 2 wheelers /3 wheelers/4 wheelers and is as per India Motor Tariff. 
• Section-II-TP Premium: TP premium is fixed amount in Rupees based on CC / KW of the vehicle, 2 wheelers / 3 wheelers/4 wheelers and follows IRDAI guidelines framed from time to time.
• Section-IV - CPA Premium: CPA premium is fixed amount in Rupees.

Exclusions for Section-I - Loss of or Damage to the Vehicle Insured

The Company shall not be liable to make any payment in respect of
(a)    consequential loss, depreciation, wear and tear, mechanical or electrical breakdown, failures or breakages;
(b)    damage to Tyres and Tubes unless the vehicle insured is damaged at the same time in which case the liability of the company shall be limited to 50% of the cost of replacement.
(c)    any accidental loss or damage suffered whilst the insured or any person driving the vehicle with the knowledge and consent of the insured is under the influence of intoxicating liquor or drugs.

Exclusions under Section III – Compulsory Personal Accident cover for Owner-Driver:

No compensation shall be payable in respect of death or injury directly or indirectly wholly or in part arising or resulting from or traceable to 

(a)    intentional self-injury suicide or attempted suicide physical defect or infirmity or
(b)    an accident happening whilst such person is under the influence of intoxicating liquor or drugs.

• Call @ 1800 208 5544 / Write to customercare@cholams.murugappa.com or Walk-in directly for intimation.
• Survey through Live Video streaming.
• Submit the claim documents like claim form, copy of Driving license, Certificate of registration.  FIR is required in case of TP Accident.
• Process of claim and survey. NEFT transfer of Claim Amount.