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Kshema Two-Wheeler Package Policy
The Kshema Two-wheeler Package Policy offers comprehensive protection to your two-wheeler vehicle against loss or damage arising from accidents, theft, fire, and natural calamities. It also provides coverage against legal liabilities for bodily injury, death, or property damage caused by the insured vehicle.
- Covers loss or damage to the vehicle due to road accidents and specified incidents such as fire, theft and natural calamities
- Covers injury, death, or property damage to third parties arising from the insured vehicle.
- Personal accident for the owner-driver and pillion rider are covered as per policy terms.
- Meets the legal requirement for third-party liability insurance under Section 146 of the Motor Vehicles Act, 1988 (as amended by the Motor Vehicles (Amendment) Act).
Why Choose Kshema Two-wheeler Package Policy?
Covers Own Damage and Third-party Liability
Provides protection from loss or damage to your insured vehicle as well as legal liability towards third parties.
Fulfills Statutory Requirements
Meets the statutory requirement for third-party liability insurance coverage for motor vehicles under Section 146 of the Motor Vehicles Act, 1988, as amended by the Motor Vehicles (Amendment) Act.
Protection for Your Vehicle
Covers the cost of repairing or replacing the insured vehicle for damage arising from covered events, including accidents, theft, natural calamities, and other specified perils.
Compulsory Personal Accident Cover
An optional add-on coverage selected by the insured that provides compensation to the owner-driver or pillion rider in the event of accidental death or disablement resulting from an accident involving the insured vehicle.
What’s Covered Under This Policy
Own Damage Cover
Covers loss or damage to the insured two-wheeler due to:
Accidents
Fire, explosion, self-ignition or lightning
Theft, burglary or housebreaking
Natural calamities such as flood, storm, cyclone or earthquake
Other specified events as per policy terms
Third-Party Liability Cover
Covers legal liability arising from use of the vehicle for:
Death or bodily injury to a third party
Damage to third-party property
Compulsory Personal Accident Cover
Provides personal accident cover to the owner-driver and pillion rider covering:
Death
Loss of limbs or eyesight
Permanent disablement
*Subject to policy limits and conditions, including valid driving licence and the insured being the owner-driver
Important Points to Note
- The Insured Declared Value (IDV) represents the sum insured for the vehicle and serves as the maximum amount payable in the event of a total loss or theft of the insured vehicle.
- Claim settlements are subject to deductibles and depreciation, as applicable under the policy.
- Coverage applies only if the vehicle is used as permitted under the policy terms and conditions.
- Wear and tear arising from the routine running and usage of the vehicle is not covered.
- Loss or damage arising from mechanical or electrical breakdowns is excluded from coverage.
- Claims arising from improper, unauthorized, or negligent use of the vehicle are not covered under the policy.
- Loss or damage caused directly or indirectly by war, mutiny, or nuclear risks is not covered under the policy.
- Loss of accessories due to theft is not covered unless the entire vehicle is stolen at the same time.
- Loss or damage resulting from driving under the influence of alcohol or intoxicating substances is not covered under the policy.
- Coverage is subject to the driver holding a valid and effective driving licence.
*Please refer to the policy wordings for detailed terms and conditions.
Frequently Asked Questions
1. What are the policies available for covering the vehicle damage?
There are two policies:
Standalone Own Damage policy and Motor package policy
2. Is it mandatory to have insurance for plying vehicles on the public place?
As mandated by the Motor Vehicles Act, every vehicle plying on public roads must have a valid Motor Liability Only Policy providing third-party liability coverage.
3. What is covered under Liability Only Policy?
Covers the insured’s legal liability towards third parties for death, bodily injury, and property damage arising out of the use of the insured vehicle.
4. What does Motor Package Policy Cover?
Covers loss or damage to the vehicle due to road accidents and specified incidents such as fire, theft and natural calamities.
5. What are documents required at the time of claim?
Copy of claim intimation given to insurer with xerox copy of policy and premium receipt, duly filled Claim Form, Driving License, Registration Certificate of Vehicle, Estimate of repairs from repairer and stamped
receipt, Bills and Cash Memo of repairs, verification of road tax, Police Panchnama/FIR, Permit and Fitness Certificate and any other documents deem fit for the situation.
6. What amount is payable by me at the time of a claim?
Claims are subject to compulsory excess, depreciation (where Nil Depreciation Cover is not selected), and salvage value if the salvage is not surrendered to the insurer.
7. What is 'No Claim Bonus'?
No Claim Bonus (NCB) is a reward in the form of a premium discount granted for every claim-free year.
8. Can I enhance my policy with optional add-on covers?
Yes, you can enhance your policy by opting for additional add-on covers upon payment of an additional premium, subject to the insurer’s terms and conditions.
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- Multiple coverage options to choose from.
- Policies available for private and commercial vehicles.
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