VALUE AUTO COVERAGE FAQs

Can I choose any benefits according to my choice?

Yes, this cover has a total of 12 add-on benefits and insured can choose as per choice. However, choosing 3 benefits is compulsory.

Is there any cover for existing damage?

No, existing damage comes under the exclusions of this insurance cover. Any Damage, injury or accident occurring before the cover commences, will not be covered.

What are the items covered under ‘Personal Effect and Belongings’?

It includes the articles in the vehicle excluding money, jewellery, valuables which are normally worn, used or carried.

What is the inference of ‘total loss’ in the ‘New Vehicle Replacement’ benefit?

It refers to a situation where the insured vehicle suffers damage beyond repair. In insurance terms, this means that the aggregate cost of repair of the vehicle, subject to term(s) and condition(s) of the policy, exceeds 75% of IDV (Insured Declared Value) of the vehicle as defined in the Standard Motor Package Policy.

What are the limits on the monetary coverage offered under each of the benefits?

For most of the listed benefits in the insurance cover, there are maximum monetary limits, which are either specified or have to be chosen by the insured.

What is depreciation?

Depreciation is defined as the decrease in the value of the vehicle with time due to age, and wear and tear. As your car ages, its market value goes down, and so does the claim amount that you get.

What is the coverage offered under ‘Personal Accident Coverage’ in this insurance?

The personal accident cover with this insurance is extensive, and provides much wider coverage than the personal accident cover offered under the basic motor policy. This benefit covers all the occupants of the vehicle (including driver, but excluding paid passengers). The personal accident cover has permanent and temporary disabilities as well as various additional benefits, covered.