In India Can a school bus play with passengers other than students and if it meets an accident will insurance company be liable to pay claim?
News is stuffed with reports of varied types of road accidents – vehicle knocking another vehicle, damaging property or killing or injuring people. We ourselves have a story or two to inform , bad experiences which may have cost us a bomb. Yet, not many seem to possess clarity on the because of make a claim once they or their vehicle are hit by another vehicle. just just in case of injury to our car we either usually settle it ourselves or depend upon our car insurer to buy for the damages albeit it means losing the accrued No-Claim Bonus (NCB) for no fault of ours. How about learning slightly more about third-party motor insurance, the mandatory cover which we've been paying premiums for therefore long. A comprehensive motor policy typically has two insurance covers bundled together –the third party insurance and thus the own damages cover. Some also accompany a built-in personal accident cover. because the names suggest, the ‘own damages’ and ‘personal accident’ insurance components are to hide your losses i.e. damages to your car or personal injuries, disability and death, respectively. While the above two are optional covers, third-party insurance is compulsory for all vehicle-owners as per the automobiles Act. For this reason, standalone third party insurance policies are often called ‘Act only’ insurance. Your third party insurance doesn't cover you and your automobile . It covers your legal liability for the damage you'll cause to a 3rd party only - bodily injury, death and damage to 3rd party property - while using your vehicle. Beneficiary of third party insurance is that the injured third party. The insured or the policy holder is solely nominally the beneficiary of the policy. during a 3rd party policy the primary party is that the insured and thus the second party is that the insurer . The third party here could be a person . . Under your third party insurance, a 3rd party can file a claim for compensation for injury, death, property damage caused by your car. The case for claiming compensation under third party are visiting be filed against you and your insurer. While there's not any limit on the liability covered for injury or death, the duvet for third-party property (usually the third party’s car) damage is capped at Rs 7.5 lakh. “In case damages exceed the upper limit, the balance possesses to be paid by the policyholder himself,” says Sanjay Datta, Chief Underwriting & Claims, ICICI Lombard General Insurance.
News is stuffed with reports of varied types of road accidents – vehicle knocking another vehicle, damaging property or killing or injuring people. We ourselves have a story or two to inform , bad experiences which may have cost us a bomb. Yet, not many seem to possess clarity on the because of make a claim once they or their vehicle are hit by another vehicle. just just in case of injury to our car we either usually settle it ourselves or depend upon our car insurer to buy for the damages albeit it means losing the accrued No-Claim Bonus (NCB) for no fault of ours. How about learning slightly more about third-party motor insurance, the mandatory cover which we've been paying premiums for therefore long. A comprehensive motor policy typically has two insurance covers bundled together –the third party insurance and thus the own damages cover. Some also accompany a built-in personal accident cover. because the names suggest, the ‘own damages’ and ‘personal accident’ insurance components are to hide your losses i.e. damages to your car or personal injuries, disability and death, respectively. While the above two are optional covers, third-party insurance is compulsory for all vehicle-owners as per the automobiles Act. For this reason, standalone third party insurance policies are often called ‘Act only’ insurance. Your third party insurance doesn't cover you and your automobile . It covers your legal liability for the damage you'll cause to a 3rd party only - bodily injury, death and damage to 3rd party property - while using your vehicle. Beneficiary of third party insurance is that the injured third party. The insured or the policy holder is solely nominally the beneficiary of the policy. during a 3rd party policy the primary party is that the insured and thus the second party is that the insurer . The third party here could be a person . . Under your third party insurance, a 3rd party can file a claim for compensation for injury, death, property damage caused by your car. The case for claiming compensation under third party are visiting be filed against you and your insurer. While there's not any limit on the liability covered for injury or death, the duvet for third-party property (usually the third party’s car) damage is capped at Rs 7.5 lakh. “In case damages exceed the upper limit, the balance possesses to be paid by the policyholder himself,” says Sanjay Datta, Chief Underwriting & Claims, ICICI Lombard General Insurance.
0 comments:
New comments are not allowed.