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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
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Policy documents

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
Illustration showing acts of terrorism related to insurance coverage
Riot, strike, malicious act or terrorism
Damage caused while the vehicle is in transit (road, rail, inland waterways or air)
Third-Party Liability Cover
Covers legal liability arising from use of the vehicle for:
Accidental Death
Death or bodily injury to a third party
Illustration showing damage to third party property related to insurance coverage
Damage to third-party property
Illustration showing legal costs and expenses related to insurance coverage
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
Loss of limbs or eyesight
Permanent-total-disability
Permanent total disablement

*Subject to policy limits and conditions, including 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.

Policy Documents

1. Prospectus
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2. Proposal Form
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3. Policy Wordings
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4. Customer Information Sheet
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  • Multiple coverage options to choose from.
  • Policies available for private and commercial vehicles.
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