34_myjeevika commercial & miscellaneous vehicle Insurance.doc

8/14/2019 34_myjeevika commercial & miscellaneous vehicle Insurance.doc

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myjeevika Commercial & Miscellaneous Vehicle Package PolicyWordings

Whereas the insured by a proposal and declaration dated as stated in the

Schedule which shall be the basis of this contract and is deemed to beincorporated herein has applied to the L&T General Insurance Company Ltd.for the insurance hereinafter contained and has paid the premium mentionedin the schedule as consideration for such insurance in respect of accidentalloss or damage occurring during the period of insurance.

Now This olicy Witnesseth!

That sub"ect to the Terms #$ceptions and Conditions contained herein orendorsed or e$pressed hereon%

Section I. Loss O or !amage to the Vehicle Insured

. The Company will indemnify the insured against loss or damage to the'ehicle insured hereunder and ( or its accessories whist thereon

I. by fire e$plosion self ignition or lightning%II. by burglary housebrea)ing or theft%III. by riot and stri)e%I*. by earth+ua)e ,fire and shoc) damage-%*. by flood typhoon hurricane storm tempest inundation cyclone

hailstorm frost%*I. by accidental e$ternal means%*II. by malicious act%*III. by terrorist acti'ity%I. whilst in transit by road rail inland/waterway lift ele'ator or air%. by landslide roc)slide.

Sub"ect to a deduction for depreciation at the rates mentioned below inrespect of parts replaced%

a- 0or all rubber ( nylon ( plastic parts1 tires and tubes1 batteries and

air bags / 234b- 0or fiber glass components / 534c- 0or all parts made of glass / Nild- 6ate of depreciation for all other parts including wooden parts will

be as per the following schedule!

"ge O #he Vehicle$ O !e%reciation or

i'ing I!V O #heVehicle

LTGICL/MOTOR-02/ANNEXURE 9 1


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Not e$ceeding 7 months 24#$ceeding 7 months but not e$ceeding year

24

#$ceeding year but not e$ceeding 8

years

834

#$ceeding 8 years but not e$ceeding 5years

534


934


234

8. The Company shall not be liable to ma)e any payment in respect of!/

a- conse+uential loss1 depreciation1 wear and tear1 mechanical or

electrical brea)down1 failures or brea)ages or for damage causedby o'erloading or strain of the insured 'ehicle nor for loss of ordamage to accessories by burglary1 housebrea)ing or theft unlessthe insured 'ehicle is stolen at the same time.

b- damage to tires and tubes unless the 'ehicle is damaged at thesame time in which case the liability of the Company shall belimited to 234 of the cost of replacement.

c- any accidental loss or damage suffered whilst the insured or anyperson dri'ing the 'ehicle with the )nowledge and consent of theinsured is under the influence of into$icating li+uor or drugs.

5. In the e'ent of the 'ehicle being disabled by reason of loss or damagedco'ered under this policy the Company will bear the reasonable cost ofprotection and remo'al to the nearest repairer and redeli'ery to theinsured but not e$ceeding in all 6s. :23 for three wheeled 'ehicles1 6s.1233(/ for ta$is and 6s. 81233(/ for other commercial 'ehicles inrespect of any one accident.

9. The insured may authori;e the repair of the 'ehicle necessitated byloss or damage for which the Company may be liable under this policypro'ided that!

a- the estimated cost of such repair including replacements1 if any1does not e$ceed 6s. 233(/

b- the Company is furnished forthwith with a detailed estimate of thecost of repairs

c- the insured shall gi'e the Company e'ery assistance to see thatsuch repair is necessary and the charges are reasonable.

Sum Insured ( Insured)s !eclared Value *I!V+



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The Insured@ar)et *alue< throughout the policy periodwithout any further depreciation for the purpose of Total Loss (Constructi'e Total Loss ,TL(CTL- claims.

The insured 'ehicle shall be treated as a CTL if the aggregate cost of

retrie'al and ( or repair of the 'ehicle1 sub"ect to terms and conditions ofthe policy1 e$ceeds :24 of the I=* of the 'ehicle.

Section II ( Lia-ility to #hird Parties



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. Sub"ect to the limits of liability as laid down in the schedule hereto theCompany will indemnify the insured in the e'ent of an accident causedby or arising out of the use of the 'ehicle against all sums includingclaimant


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8. The Company will pay all costs and e$penses incurred with its writtenconsent.

5. In terms of and sub"ect to the limitations of the indemnity granted by

this section to the insured1 the Company will indemnify any dri'er whois dri'ing the 'ehicle on the insured


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Sub"ect otherwise to the terms e$ceptions conditions and limitations of thispolicy1 the Company underta)es to pay compensation as per the followingscale for bodily in"ury(death sustained by the owner/dri'er of the 'ehicle1 indirect connection with the 'ehicle insured or whilst dri'ing or mounting

into(dismounting from the 'ehicle insured or whilst tra'eling in it as a co/dri'er1 caused by 'iolent accidental e$ternal and 'isible means whichindependent of any other cause shall within si$ calendar months of suchin"ury results in!

Nature of In"ury Scale ofCompensation

i- =eath 334ii- Loss of two limbs or sight of two eyes or onelimb and sight of one eye

334

iii- Loss of one limb or sight of one eye 234i'- ermanent total disablement from in"uriesother than named abo'e

334

ro'ided always that

a- Compensation shall be payable under only one of the items ,i- to,i'- abo'e in respect of the owner/dri'er arising out of any oneoccurrence and the total liability of the insurer shall not in theaggregate e$ceed the sum of 6s. La)h during any one period ofinsurance.

b- No compensation shall be payable in respect of death or bodilyin"ury directly or indirectly wholly or in part arising or resulting fromor traceable to ,- intentional self in"ury suicide or attemptedsuicide physical defect or infirmity or ,8- an accident happeningwhilst such person is under the influence of into$icating li+uor ordrugs.

c- Such compensation shall be payable directly to the insured or tohis(her legal representati'es whose receipt shall be the fulldischarge in respect of the in"ury to the insured.

This co'er is sub"ect to

a- the owner/dri'er is the registered owner of the 'ehicle insuredtherein

b- the owner/dri'er is the insured named in the policyc- the owner/dri'er holds an effecti'e dri'ing license1 in accordance

with the pro'isions of 6ule 5 of the Central @otor *ehicle 6ulesD1 at the time of accident.



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"voidance o Certain #erms and /ights o /ecovery

Nothing in this olicy or any endorsement hereon shall affect the right of anyperson indemnified by this olicy or any other person to reco'er an amount

under or by 'irtue of the pro'isions of the @otor *ehicle Act DD.

Eut the insured shall repay to the Company all sums paid by the Companywhich the Company would not ha'e been liable to pay but for the saidpro'ision.

0eneral 1'ce%tions 2,Applicable to all sections of the olicy-

The Company shall not be liable under this policy in respect of

. Any accidental loss or damage and(or liability caused sustained orincurred outside the geographical area%

8. Any claim arising out of any contractual liability%5. Any accidental loss damage and(or liability caused sustained or

incurred whilst the 'ehicle insured herein is

,a- being used otherwise than in accordance with the >Limitations asto use

Documents

34_myjeevika commercial & miscellaneous vehicle Insurance.doc