What briefly is the risk covered under the Own Damage Policy?
The insurance company will indemnify the insured persons against loss or damage caused to the insured vehicle by any of the following: fire, explosion, self ignition or lightning burglary, housebreaking or theft riot and strike earthquake (fire and shock damage) flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, accidental external means malicious act while in transit by road, rail, inland waterway, lift, elevator or air land or rockslide NOTE: The basic rate for premium calculation is a comprehensive rate covering all the above-mentioned risks. If you do not want a cover for earthquake (for instance if you don’t live in an earthquake prone area), flood and / or riot and strike, you would be given a discount of 0.10 percent of “Insured’s Estimated Value” for exclusion of earthquake and 0.15 percent of the same for exclusion of flood and for riot and strike respectively.
