1 / 9

Why Motor Insurance is Important

There are mainly two types of motor vehicle insurance. One is liability/act only policy For more : http://www.insuringindia.com/general-insurance/motor/online-motor-insurance-home.aspx<br>

insuringindia11
Download Presentation

Why Motor Insurance is Important

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. MOTOR INSURANCE Plot No. 8, Sector 32, Urban Estate, Gurgaon 122001, Haryana, India.

  2. GLOBALLY MOTOR INSURANCE IS THE BIGGEST AND FASTEST GROWING GENERAL INSURANCE PORTFOLIO AND INDIA IS NO EXCEPTION TO IT. INTRODUCTION - IT ACCOUNTS FOR MORE THAN 45% OF THE TOTAL GENERAL INSURANCE PREMIUM INCOME IN INDIA. - IN THE YEAR ENDING 2009, TOTAL NON-LIFE PREMIUM OF THE INDUSTRY WAS ABOUT 28,000 CRORES OUT OF WHICH MOTOR INSURANCE ACCOUNTED FOR ABOUT 13,000 CRORES.- HOWEVER MOTOR BUSINESS WAS ONLY 25 CRORES AT THE TIME OF NATIONALIZATION. Plot No. 8, Sector 32, Urban Estate, Gurgaon 122001, Haryana, India.

  3. MOTOR INSURANCE HISTORY - INDIA 1. 1939: MOTOR VEHICLES ACT (MVA) PASSED.2. COMPULSORY 3RD PARTY INSURANCE INTRODUCED ON 1ST JULY, 1946.3. PRACTICE IN INDIA FOLLOWS THAT OF U.K. MARKET.4. GOVERNED BY A TARIFF:WITHDRAWN IN U.K.MVA 1988, REPLACED THE MVA OF 1939 EFFECTIVE FROM JULY 1ST1989. Plot No. 8, Sector 32, Urban Estate, Gurgaon 122001, Haryana, India.

  4. WHAT IS MOTOR INSURANCE • MOTOR INSURANCE IS A COMBINATION OF TWO WORD • I.E.”MOTOR+INSURANCE” • MOTOR UNDER THE MOTER VEHICLE ACT IS A SELF-PROPELLED VEHICLE. • INSURANCE WE ALREADY KNOW IS PROTECTION AGAINST ANY “UNFORESEEN RISK”. Plot No. 8, Sector 32, Urban Estate, Gurgaon 122001, Haryana, India.

  5. MOTOR INSURANCE TYPE TYPE COMPREHENSIVE THIRD PARTY ZERO DEPRECIATIOM Plot No. 8, Sector 32, Urban Estate, Gurgaon 122001, Haryana, India.

  6. MOTOR INSURANCE BENEFITS 1. BODILY INJURIES TO YOURSELF OR OTHER .2.LOST WAGE DUE TO INJURY.3.BENEFITS TO SURVIVORS WHEN AN ACCIDENT RESULTS IN DEATH.4. Lawsuits brought against you as the result of an accident.5.repairs made to your car due to damage caused in an accident. Plot No. 8, Sector 32, Urban Estate, Gurgaon 122001, Haryana, India.

  7. WHAT IS THE COVER LEVEL OF MOTOR INSURANCE 1. THE cover level of motor insurance can be the insured PART, THE INSURED VEHICLE , THIRD PARTIES (CAR AND PEOPLE). 2. THE PREMIUM OF THE INSURANCE IS DEPENDENT ON CERTAIN PARAMETERS LIKE GENDER, AGE, VEHICLE CLASSIFICATION, ETC.

  8. WHAT MOTOR INSURANCE DOES NOT COVER 1.MOTOR INSURANCE DOES NOT COVER LOSS DUE TO WEAR AND TEAR, BREAKDOWN, ACCIDENTS DUE TO DRUNKEN DRIVING AND WAR PERILS.2. INSURANCE ALSO DOES NOT COVER FAILURE OR BREAKAGE WHEN THE VEHICLE IS USED OUTSIDE THE GEOGRAPHICAL AREA. Plot No. 8, Sector 32, Urban Estate, Gurgaon 122001, Haryana, India.

  9. THANKYOU

More Related