My car is five years old and I have never claimed any insurance. But now I want to get some dents repaired which will cost me around Rs 40,000. Can I claim the full amount this time from insurance as I do not want to spend any money from my pocket for this kind of a repair?
– Ganesh Chhabra
Comprehensive Motor Insurance covers the vehicle against any damages to the vehicle due to any of the insured perils covered under the policy. It’s inevitable to accumulate scratches and dents on your car’s body during the course of driving. If the mentioned dents have occurred to the vehicle in an unfortunate incident during the policy period then you can make a claim against the same. Insurance company will settle the claim considering the excess and depreciation as applicable.
For my car insurance, should I just take the third-party cover as my car is now 13 years old?
In order to get a comprehensive cover for vehicles that are 10-15 years old, insurance company demands an inspection report from a surveyor certifying the condition of the vehicle. On the basis of report the insurance company will provide you a comprehensive insurance cover. You can take third-party insurance if it is difficult to obtain a comprehensive cover for your car. As per the Motor Vehicle Act, it is mandatory that all the vehicles plying on the road must possess third-party motor insurance.
I want to drive down to Nepal for 10 days. Will my car insurance be vaid there? If not, what should I do?
As per the Motor Vehicle Act, all the vehicles plying in the territorial limits of India must possess motor insurance at all times. Hence, scope of motor insurance policy is restricted to geographical limits of India. Also loss or damage incurred outside the geographical area are excluded from the standard motor insurance policy. However, in order to be covered under motor insurance policy while driving into Nepal you need to have Extension of Geographical Area under motor insurance. On payment of additional premium, motor insurance can be extended to include countries such as Bangladesh, Pakistan, Nepal, Bhutan, Maldives and Sri Lanka.
The writer is MD & CEO, Universal Sompo General Insurance. Send your queries to firstname.lastname@example.org