INDIA MOTOR TARIFF w.e.f 01.07.2002 -
Policy wording
STANDARD FORM FOR MOTOR TRADE PACKAGE POLICY

Whereas the insured by a proposal and declaration dated as stated in the Schedule which shall be the basis of this contract and is deemed to be incorporated herein has applied to the Company for the insurance hereinafter contained and has paid the premium mentioned in the schedule as consideration for such insurance in respect of accidental loss or damage occurring during the period of insurance:

NOW THIS POLICY WITNESSETH :
That in respect of accidental loss or damage occurring during the period of insurance whilst insured vehicle is in a public place or is temporarily garaged during the course of a journey elsewhere than in or on any premises owned by or in the occupation of the insured and subject to the Terms Exceptions and Conditions contained herein or endorsed or expressed hereon,
SECTION I. LOSS OF OR DAMAGE TO THE VEHICLE INSURED
1. The Company will indemnify the insured against loss or damage to the vehicle
insured hereunder and/or its accessories whilst thereon.
i. by fire explosion self ignition or lightning ;
ii. by burglary housebreaking or theft ;
iii. by riot and strike;
iv. by earthquake (fire and shock damage)
v. by flood typhoon hurricane storm tempest inundation
cyclone hailstorm frost
vi. by accidental external means
vii. by malicious act
viii. by terrorist activity
ix. whilst in transit by road rail inland waterway lift elevator or air
x. by landslide/rockslide
Subject to a deduction for depreciation at the rates mentioned below in respect of parts
replaced :
1. For all rubber/ nylon / plastic parts, tyres and tubes, batteries and air bags - 50%
2. For fibre glass components - 30%
3. For all parts made of glass - Nil
4. Rate of depreciation for all other parts including wooden parts will be as per the
following schedule.
AGE OF VEHICLE % OF DEPRECIATION