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 to delay in intimation, depreciation on parts unless zero depreciation cover is opted and any deductible fixed at the time of purchase.

·        Personal accident cover: The exclusions include any intentional self-injury, suicide or attempted suicide, physical defect or the owner driving the car under the influence of intoxicating liquor or drugs. It also excludes the accidents caused while unnamed occupants are driving the car intoxicated or otherwise.

·        Accidental hospitalization cover: Accidental hospitalization cover excludes any expenses related to a sickness, disease not consequential to the accident, psychosomatic disorders caused or accentuated by the accident, any treatment started after 10 days from date of accident unless verified by a medical practitioner, any self-intentional injury, suicide or attempted suicide, drunk driving.

·        Hospital cash cover: Any hospitalization that does not exceed 3 days is excluded in this cover.

·        EMI protector cover: This cover of motor insurance plan excludes any penalty, interest or charges levied by the financer due to default in payment.

·        NCB protector for non-metallic parts: This cover excludes the cost of any painting work done without any repair associated with those parts.

·        Daily conveyance allowance cover: The daily conveyance allowance cover of motor insurance plans covers the cost for conveyance of the owner when the car is in repair. It excludes repairs done at unauthorized garage, if time required for repair is up to 3 days, if repair is delayed due to non-availability of spares or if the claim is only for windscreen or glass damage.

·       Tyre replacement cover: The exclusions in the tyre replacement cover include loss or damage due to natural wear & tear, damage in first 15 days of policy, damage due to race, rally or illegal activities, damage due to manufacturing defect or design, theft of tires without the car being stolen, tires with minor scratches or cuts that do not affect their performance, damage due to driving car with deflated tires.

·       Key and lock replacement cover: The exclusion to this cover is the scenario where a key is lost or stolen while still being in the vehicle.

We hope this article was helpful to you and informed you about the various exclusions in add-on covers of motor insurance plans. 

Have a great day!