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COME TO THE LEADER! WE VALUE EVERY VEHICLE, WE VALUE EVERY LOSS |
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TIPS ON BUYING RIGHT MOTOR INSURANCE POLICY |
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Driver should bear in mind that there are number of details that should be taken into account when applying for motor insurance policy.
Firstly as soon as car purchased the owner must buy an insurance cover. If a used car is purchased, the new owner needs to know that the cover of the previous owner is null and void.
The insured value or sum insured depends on the market value of the vehicle. Under insurance or over insurance occur when this value is not properly mentioned.
Over insurance occurs when sum insured is higher than the market value, maximum compensation is the market value of the vehicle.
Under insurance occurs if sum insured is less than the market values, you are as self-insuring the difference. In the event of a loss, you will only be partially compensated.
Average clause is applied when you suffer damage to your vehicle which is under insured. Your claim will be reduced proportionately by the uninsured portion, e.g. if you have insured your vehicle up to 70% of the market value, the insurance company will only pay 70% of total repair cost.
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List of coverage for each type of cover |
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| Coverage |
Act liability policy |
Third party policy |
Comprehensive policy |
| Third party personal injury and death |
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| Third party property damage |
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| Theft/own damage, constructive total Loss |
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Private and Commercial Vehicle Comprehensive Insurance |
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This is the widest form of cover; our client is protected against financial losses of all kinds, accidental loss to vehicle, theft of car and third party liability claims on him or her |
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Private and Commercial Vehicle Third Party Motor Vehicle Insurance |
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EFU's client is protected against all financial losses due to accidental damage liability of all forms to third party, property damage or bodily injury, death or both. |
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Private and Commercial Vehicle Act only Liability Insurance |
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The cover meets the minimum legal insurance requirement. In this cover, EFU offers you protection against financial losses due to liability of accidental bodily injury or death to third party.
In addition to above basic protections we are offering insurance solutions to our clients, combining basic covers with following EXTRA BENEFITS:
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Family Accidental Benefit Cover |
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EFU offer accidental death or injury benefit for insured, spouse and the entire family of EFU individual clients, in addition to comprehensive insurance of motor vehicle. |
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Accidental Death Cover for Salaried Driver |
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For our commercial clients owning fleet of vehicles a specially designed product offering personal accident covers for the paid drivers. |
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Protection of Loan Amount for Financial Institutions |
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For financial institution offering car financing schemes EFU offer modified insurance package offering protection of outstanding loan amount to the leasing company in case of death of lessee, combined with the comprehensive coverage of motor vehicle |
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Personal Accident Benefit Cover for Passengers |
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This is a very popular cover that EFU is giving its clients who are in hospitality business, car rental service. Their guests are offered accidental injury or death benefits while traveling in motor vehicle. |
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Last Updated: October 02, 2009 |
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