Kshema Passenger Carrying Vehicle Package Policy

The Kshema Passenger Carrying Vehicle Package Policy offers comprehensive protection to your commercial vehicles involved in passenger transportation, covering loss or damage to your vehicle due to accidents, theft and specified perils, along with liability arising from third-party injury, death or property damage. It also includes personal accident cover for the owner-driver.

Covers loss or damage to the vehicle due to accidents and specified incidents such as fire, theft and natural calamities
Covers injury, death, or property damage to third parties arising from the vehicle’s use
Includes personal accident cover for the owner-driver as per policy terms
Fulfills the mandate to have third-party liability cover as required under the Motor Vehicles (Amendment) Act, 2019

Why Choose Kshema Passenger Carrying
Vehicle Package Policy?

Covers Own Damage and Third-party Liability
Provides coverage for loss or damage to your insured vehicle as well as liability to third parties.
Fulfills Statutory Requirements
Meets all statutory third-party liability cover requirements for commercial passenger vehicles under the Motor Vehicles (Amendment) Act, 2019.
Protection for Your Vehicle
Covers repair or replacement costs for damage due to covered events such as accidents, natural calamities, or theft.
Cover for Authorised Drivers
The policy extends to authorised drivers using the vehicle with your permission, subject to policy terms.
Personal Accident Cover
Provides compensation to the owner-driver in case of accidental death or disablement.

What’s Covered Under This Policy?

Own Damage Cover

Covers loss or damage to the insured vehicle due to:

Accidents
Fire, explosion, self-ignition, or lightning
Theft, burglary, or housebreaking
Natural calamities such as flood, storm, cyclone, or earthquake
Riot, strike, malicious act, or terrorism
Damage caused while the vehicle is in transit by road, rail, inland waterways, or air

Third-Party Liability Cover

Covers legal liability arising from the use of the vehicle for:

Death or bodily injury to a third party
Damage to third-party property
Associated legal costs and expenses (with the insurer’s consent)

Personal Accident Cover (Owner-Driver)

Provides cover to the owner-driver against an accident that leads to:

Death
Loss of limbs or eyesight
Permanent total disablement

*Subject to policy limits and conditions, including possession of a valid driving licence and the insured being the owner-driver.

Important Things to Note

IDV (Insured Declared Value) is treated as the sum insured for the vehicle.
Claims are subject to deductibles and depreciation as specified in the policy.
Coverage applies only when the vehicle is used as per policy conditions.
Certain exclusions apply, including wear and tear, electrical and mechanical breakdown, intoxicated driving, etc.