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FAQs

Non Life Insurance - What briefly is the risk covered under the Own Damage Policy?
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The insurance company will indemnify the insured persons against loss or damage caused to the insured vehicle by any of the following:

  • Fire, explosion, self ignition or lightning
  • Burglary, housebreaking or theft
  • Riot and strike
  • Earthquake (fire and shock damage)
  • Flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost
  • Accidental external means
  • Malicious act
  • Terrorist activity
  • While in transit by road, rail, inland waterway, lift, elevator or air
  • Land or rockslide

Note:

The basic rate for premium calculation is a comprehensive rate covering all the above-mentioned risks. If you do not want a cover for earthquake (for instance if you don't live in an earthquake prone area), flood and / or riot and strike, you would be given a discount of 0.10 percent of "Insured's Estimated Value" for exclusion of earthquake and 0.15 percent of the same for exclusion of flood and for riot and strike respectively.