Various exclusions in add on covers of motor insurance plans
Motor insurance has become a very important purchase in order to protect the owner of a care financially in case of an accident or any other untoward damage to the care. In this article, we look at the various exclusions made to covers of motor insurance plans: · Zero depreciation cover: The main exclusion in zero depreciation cover is the deductible fixed by the buyer at the time of purchase of policy. · Consumable expenses cover: The exclusions in consumable expenses cover are any expenses made towards consumables not mentioned in the policy and any consumables related to wear and tear not directly related to claim. · Engine protector cover: The exclusions in engine protector cover include any wear and tear, mechanical & electrical failure and parts falling under warranty, loss or damage due to corrosion of engine or parts due...