Published on: Mar 4, 2016
Transcripts - Policy wordings(2)
± ±Bajaj Allianz General Insurance Company Limited Issuing office : Important notice* 1. In the event of a claim ,please make sure to call our 24 hours Call Center directly instead of agent or the garage rep. for following help. - to get your claim registered in our records and the claim number issued for future reference. - to know about the claim process and the necessary requirements for faster settlement of claim. - to know the approved garage where vehicle is to be taken for quality repair , cashless settlement and other value added services Improper communication can lead to delay in settlement or repudiation of claim : 2. Please refer to the Claim Guide copy supplied by your agent for more details on claim settlement process, requirements and the Bajaj Allianz Preferred Workshops list . In case you havent received ,please contact our nearest office or the agent. 3. Should you decide on garage of your choice , company cannot assure the services such as cash less settlement facility , quality of job , avoid excess or wrong billing by the garage . To contact please dial toll free number : 1600225858 or 020-30305858 (free call from BSNL / MTNL) or email at : firstname.lastname@example.org *conditions apply PRIVATE CAR PACKAGE POLICYWhereas the Insured by a proposal and declaration dated as vi. by accidental external means;stated in the Schedule which shall be the basis of this contractand is deemed to be incorporated herein has applied to Bajaj vii. by malicious act;Allianz General Insurance Company Limited (hereinafter viii. by terrorist activity;referred to as “Company”) for the Insurance hereinaftercontained and has paid the premium mentioned in the ix. whilst in transit by road rail inland waterway liftschedule as consideration for such insurance in respect of elevator or airaccidental, loss or damage occurring during the Period ofInsurance. x. by landslide/rockslideNOW THIS POLICY WITNESSETH that subject to the Terms, Subject to a deduction for depreciation at the ratesExceptions, and Conditions contained herein or endorsed or mentioned below in respect of parts replaced :expressed hereon. 1. For all rubber, nylon, plastic parts, tyre, battery &SECTION I - LOSS OR DAMAGE TO THE VEHICLE INSURED air bags 50%1. The Company will indemnify the Insured against loss or damage to the Motor Car insured hereunder and/or its 2. For fibre glass components 30 % accessories whilst thereon; 3. For all parts made of glass Nil i. by fire explosion self ignition or lightning; 4. Rate of depreciation for all other parts including wooden ii. by burglary housebreaking or theft; parts will be as per the following schedule iii. by Riot and Strike; AGE OF VEHICLE % OF DEPRECIATION iv. by Earthquake (Fire and Shock Damage); Not exceeding 6 months.......................................Nil v. by Flood Typhoon Hurricane Storm Tempest Exceeding 6 months but not exceeding 1 year ....5% Inundation Cyclone hailstorm Frost; Exceeding 1 year but not exceeding 2 years....10% Regd. & Head Office : GE Plaza, Airport Road, Yerawada, Pune - 411 006. Tel. : (+91 20) 56026666. Fax : (+91 20) 56026667± ±
± ±Exceeding 2 years but not exceeding 3 years...15% The IDV of the vehicle ( and accessories if any fitted in the vehicle ) is to be fixed on the basis of the manufacturer’s listedExceeding 3 years but not exceeding 4 years..25% selling price of the brand and model as the vehicle insured at the commencement of insurance / renewal and adjusted forExceeding 4 years but not exceeding 5 years.....35% depreciation ( as per schedule below ).Exceeding 5 years but not exceeding 10 years...40% The schedule of age wise depreciation as shown below isExceeding 10 years...................................................50% applicable for the purpose of Total loss / Constructive Total Loss (TL / CTL) claims only.2 The Company shall not be liable to make any payment in respect of : AGE OF VEHICLE % OF DEPRECIATION FOR FIXING IDV a. consequential loss depreciation wear and tear Not exceeding 6 months.........................................5% mechanical or electrical breakdown failures or Exceeding 6 months but not exceeding 1 year ....15% breakages Exceeding 1 year but not exceeding 2 years......20% b. damage to tyres and tubes unless the vehicle is damaged at the same time when the liability of the Exceeding 2 years but not exceeding 3 years.....30% Company is limited to 50% of cost of replacement; and Exceeding 3 years but not exceeding 4 years.....40% c. Any accidental loss or damage suffered whilst the Insured or any person driving the vehicle with the Exceeding 4 years but not exceeding 5 years.....50% knowledge and consent of the Insured is under the influence of intoxicating liquor or drugs. IDV of vehicles beyond 5 years of age and of obsolete models of the vehicles (i.e. Models which the manufacturers have3 In the event of the vehicle being disabled by reason of discontinued to manufacture) is to be determined on the loss or damage covered under this Policy the company basis of understanding between the insurer and the will bear the reasonable cost of protection and removal insured. to the nearest repairer and redelivery to the Insured but not exceeding in all Rs.1500/- in respect of any one IDV shall be treated as the ‘ Market Value’ throughout the accident. policy period without any further depreciation for the purpose of Total Loss (TL) / Constructive Total Loss (CTL) The Insured may authorise the repair of the vehicle claims. necessitated by damage for which the Company may be liable under this Policy provided that: The insured vehicle shall be treated as a CTL if the aggregate cost of retrieval and / or repair of the vehicle, subject to terms a. the estimated cost of such repair including and conditions of the policy, exceeds 75% of the IDV of the replacements does not exceed Rs.500/ vehicle. b. the Company is furnished forthwith a detailed SECTION II - LIABILITY TO THIRD PARTIES estimate of the cost of repairs and 1. Subject to the Limits of Liability as laid down in the c. the Insured shall give the Company every assistance Schedule hereto, the Company, will indemnify the to see that such repair is necessary and the charges are Insured in the event of an accident caused by or arising reasonable. out of the vehicle, against all sums which the Insured shall become legally liable to pay in respect of :SUM INSURED - INSURED’S DECLARED VALUE (IDV) i) death of or bodily injury to any person includingThe insured declared value (IDV) of the vehicle will be occupants carried in the vehicle (provided suchdeemed to be the ‘ SUM INSURED’ for the purpose of this occupants are not carried for hire or reward) butpolicy which is fixed to the commencement of each policy except so far as it is necessary to meet theperiod for the insured vehicle.± 2 ±
± ± requirements of Motor Vehicles Act the Company APPLICATION OF LIMITS OF INDEMNITY shall not be liable where such death or injury arises In the event of any accident involving indemnity to more than out of and in the course of the employment of such one person any limitation by the terms of this policy and/or person by the insured. of any Endorsement thereon of the amount of any indemnity ii) damage to property other than property belonging to shall apply to the aggregate amount of indemnity to all the Insured or held in trust or in the custody or control persons indemnified and such indemnity shall apply in of the Insured. priority to the insured.2. The Company will pay all costs and expenses incurred SECTION III - PERSONAL ACCIDENT COVER with its written consent. FOR OWNER - DRIVER3. In terms of and subject to the limitations of the indemnity 1 The Company undertakes to pay compensation as per granted by this section to the Insured the Company will the following scale for bodily injury / death sustained indemnify any driver who is driving the vehicle on the by the owner - driver of the vehicle, in direct insureds order or with insureds permission provided connection with the vehicle insured or whilst driving that such driver shall as though he were the Insured or mounting into / dismounting from the vehicle observe fulfil and be subject to the terms exceptions and insured or whilst traveling in it as a co-driver, caused by conditions of this Policy in so far as they can apply. violent accidental external and visible means which4. In the event of the death of any person entitled to independent of any other cause shall within six indemnity under this Policy the Company will in respect of calendar months of such injury result in : the liability incurred by such person indemnify his/her Nature of injury Scale of compensation personal representatives in the terms of and subject to the limitations of this Policy provided that such personal (I) Death .................................................... 100% representatives shall as though he/she was the Insured observe fulfil and be subject to the terms exceptions and (II) Loss of two limbs or sight of two eyes or conditions of this Policy in so far as they can apply. one limb and sight of one eye.......................... 100%5. The Company may at its own option (A) arrange for representation at any Inquest or Fatal Inquiry in respect of (III) Loss of one limb or sight of one eye.............. 50% any death which may be the subject of indemnity under this policy and (B) undertake the defence of proceedings (IV) Permanent total disablement from in any Court of Law in respect of any act or alleged offence injuries other than named above. .................. 100% causing or relating to any event which may be the subject to the indemnity under this Section. Provided always thatAVOIDANCE OF CERTAIN TERMS AND RIGHT OF RECOVERY A) compensation shall be payable under only one of the items(i) to (iv) above in respect of the owner -Nothing in this Policy or any endorsement hereon shall affect driver arising out of any occurrence and thethe right of any person indemnified by this Policy or any other total liability of the insurer shall not in theperson to recover an amount under or by virtue of the aggregate exceed the sum of Rs 2. Lakhs duringprovision of the Motor Vehicles Act. any one period of insurance.But the Insured shall repay to the Company all sums paid by B) no compensation shall be payable in respect ofthe Company, which the Company would not have been liable death or bodily injury directly or indirectly whollyto pay, but for the said provisions. or in part arising or resulting from or traceable to (1) Intentional self injury suicide or attempted suicide physical defect or infirmity or (2) an accident happening whilst such person is under the influence of intoxicating liquor or drugs.± 3 ±
± ± C) Such compensation shall be payable directly to combustion shall include any self-sustaining the insured or to his/her legal representatives process of nuclear fission. whose receipt shall be the full discharge in respect of the injury to the insured. 5. Any accidental loss damage or liability directly or indirectly caused by or contributed to by or arising2) This cover is subject to from nuclear weapons material. (a) the owner-driver is the registered owner of the 6. Any accidental loss damage and/or liability directly or vehicle insured herein; indirectly or proximately or remotely occasioned by contributed to / by or traceable to or arising out of or in (b ) The owner driver is the insured named in this connection with War, Invasion, the Act of foreign policy. enemies, hostilities or Warlike operations (whether before or after declaration of war) Civil War, Mutiny (c) the owner-driver holds an effective driving Rebellion, Military or usurped power or by any direct license, in accordance with the provisions of Rule or indirect consequences of any of the said 3 of the central Motor Vehicles Rules, 1989, at the occurrences and in the event of any claim hereunder time of the accident. the Insured shall prove that the accidental loss damageGENERAL EXCEPTIONS and/or liability arose independently of and was in no way connected with or occasioned by or contributed to(Applicable to all Sections of the Policy) by or traceable to any of the said occurrences or any consequences thereof and in default of such proof theThe Company shall not be liable under this Policy in Company shall not be liable to make any payment in respect of such a claim.respect of: DEDUCTIBLE1. Any accidental loss damage and/or liability caused sustained or incurred outside the Geographical Area. The Company shall not be liable for each and every under Section -I (loss of damage to vehicle insured) of this policy in2. Any claim arising out of any contractual liability. respect of the deductible stated in the schedule.3. Any accidental loss damage and/or liability caused CONDITIONS sustained or incurred whilst the vehicle insured herein is This policy and the Schedule shall be read together and any word or expression to which a specific meaning has been a. being used otherwise than in accordance with the attached in any part of this Policy or of the Schedule shall bear limitations as to Use or the same meaning wherever it may appear. b. being driven by or is for the purpose of being 1. Notice shall be given in writing to the Company driven by him/her in the charge of any person immediately upon the occurrence of any accidental other than a driver as stated in the drivers clause. loss or damage in the event of any claim and thereafter the Insured shall give all such information and4. a. Any accidental loss or damage to any property assistance as the Company shall require. Every letter whatsoever or any loss or expense whatsoever claim writ summons and/or process or a copy thereof resulting or arising therefrom or any shall be forwarded to the Company immediately on consequential loss. receipt by the Insured. Notice shall also be given in b. Any liability of whatsoever nature directly or writing to the Company immediately the Insured shall indirectly caused by or contributed to by or arising have knowledge of any impending Prosecution from ionising radiations or contamination by Inquest or Fatal Inquiry in respect of any occurrence, radioactivity from any nuclear fuel or from any which may give rise to a claim under this Policy. In nuclear waste from the combustion of nuclear case of theft or criminal act which may be the subject fuel. For the purpose of this exception of a claim under this Policy the Insured shall give± 4 ±
± ± immediate notice to the Police and co-operate with the in force or the policy may be cancelled at any time by Company in securing the conviction of the offender. the insured on seven days’ notice by recorded delivery and provided no claim has arisen during the currency2. No admission, offer, promise, payment, or indemnity of the policy, the insured shall be entitled to a return of shall be made or given by or on behalf of the Insured premium less premium at the company’s Short Period without the written consent of the Company which rates for the period the policy has been in force. Return shall be entitled if it so desires to take over and of the premium by the company will be subject conduct in the name of the Insured the defence or to retention of the minimum premium of Rs.100/- settlement of any claim or to prosecute in the name of (or Rs. 25/- in respect of vehicles specificially designed / the Insured for its own benefit any claim for indemnity modified for use by blind / handicapped/mentally or otherwise and shall have full discretion in the challenged persons). Where the ownership of the conduct of any proceedings or in the settlement of any vehicle is transferred, the policy cannot be cancelled claim and the Insured shall give all such information unless evidence that the vehicle is insured elsewhere is and assistance as the Company may require. produced.3. The Company may at its own option repair reinstate or 6. If at the time any claim arises under this Policy there is replace the vehicle or part thereof and/or its any other existing insurance covering the same loss, accessories or may pay in cash the amount of the loss damage or liability, the Company shall not be liable to or damage and the liability of the Company shall not pay or contribute more than its rateable proportion of exceed the loss damage compensation cost or expenses. a) For total loss / Constructive total loss of the 7. If any dispute or difference shall arise as to the vehicle the Insured’s Declared Value (IDV) of quantum to be paid under this policy (liability being the vehicle (including accessories thereon ) as otherwise admitted) such difference shall specified in the schedule as the value of the independently of all other questions be referred to the wreck decision of a sole arbitrator to be appointed in writing by the parties to the dispute or if they cannot agree b) For partial losses i.e. Losses other than total loss upon a single arbitrator within 30 days of any party / constructive total loss of the vehicle - actual and invoking arbitration, the same shall be referred to a reasonable cost of repair and / or replacement of panel of three arbitrators, comprising of two parts lost or damaged subject to depreciation arbitrators, one to be appointed by each of the parties as per limits specified. to the dispute/difference and a third arbitrator to be4. The Insured shall take all reasonable steps to appointed by such two arbitrators who shall act as the safeguard the vehicle from loss or damage and to presiding arbitrator and Arbitration shall be conducted maintain it in efficient condition and the Company under and in accordance with the provisions of the shall have at all times free and full access to examine Arbitration and Conciliation Act, 1996. the vehicle or any part thereof or any driver or It is clearly agreed and understood that no difference or employee of the Insured. In the event of any accident dispute shall be referable to arbitration as herein or breakdown the vehicle shall not be left unattended before provided, if the Company has disputed or not without proper precautions being taken to prevent accepted liability under or in respect of this policy. further damage or loss and if the vehicle be driven before the necessary repairs are effected any It is hereby expressly stipulated and declared that it extension of the damage or any further damage to the shall be a condition precedent to any right of action or vehicle shall be entirely at the insureds own risk. suit upon this policy that the award by such arbitrator/arbitrators of the amount of the loss or5. The Company may cancel the policy by sending seven damage shall be first obtained. days notice by recorded delivery to the insured at the insured’s last known address and in such event will It is also hereby further expressly agreed and declared return to the insured the premium paid less the pro that if the company shall disclaim liability to the insured rata portion thereof for the period the policy has been for any claim hereunder, and such claim shall not± 5 ±
within 12 calender months from the date of such disclaimer have been the subject matter of a suit in a court of law then the claims shall for all purpose be deemed to have been abandoned and shall not thereafter be recoverable hereunder.8. The due observance and fulfillment of the terms conditions and endorsement of this Policy in so far as they relate to anything to be done or complied with by the Insured and the truth of the statements and answers in the said proposal shall be conditions precedent to any liability of the Company to make any payment under this Policy.9. In the event of the death of the sole Insured, this policy will not immediately lapse but will remain valid for a period of three months from the date of the death of Insured or until the expiry of this policy (whichever is earlier). During the said period legal heirs of the Insured to whom the custody and use of the Motor Vehicle passes may apply to have this Policy transferred to his / her / their names or obtain a new insurance policy for the Motor Vehicle. Where such legal heirs wish to apply for a transfer of this policy or obtain a new policy for the Vehicle such heir(s) should make an application to the company accordingly within the aforesaid period. All such applications should be accompanied by : a. Death certificate in relation to the insured b. Proof of title to the Vehicle c. Original Policy The Company reserves its rights to abide by any orderof the court in regard to declaration about the legal heir /heiress and ownership of the vehicle and the nominee willnot have any right to dispute such order of the Court.