An automobile insurance policy is a mechanism for protecting the policyholder's finances from any loss or harm to their vehicles. There are some accidents, though, for which the vehicle insurance provider does not provide coverage. These exclusions are often specified in the insurance document's terms and conditions. It's also crucial to pay attention to everything an insurance policy does not cover because it will help you when making claims.
Wear & Tear: The vehicle requires routine maintenance inspections to guarantee that you have a safe and enjoyable trip. However, your auto insurance policy does not provide coverage for any damage to your car that results from normal wear and tear.
Driving While Intoxicated: It is against the law to drive while intoxicated in India. As a result, if you drive while intoxicated or using any other intoxicant, insurance companies will not pay for the damage that results.
Intentional Property Damages: If the insured wilfully damages someone or something, the insurance company is not responsible for covering the costs of that harm. Additionally, the insurance will not file any claims for the harm done to the property.
Using a Private Vehicle for Business Use: If it is determined that you are using a personal vehicle for business, your insurance provider will not cover any losses if your automobile is damaged.
Driving Without Required Documentation: All required documents must be carried with you at all times while driving on Indian roadways, according to the Indian Motors Act. Your insurer will not cover any damage costs if you have an accident while travelling without valid documentation.
Consumables: Consumables, such as oils and lubricants, nuts and bolts, and other parts of the vehicle, cannot be claimed for damages. These costs will be borne by the policyholder throughout the claim settlement process.
Even though these are common exclusions, different insurers may have different levels of coverage. Therefore, it is advised to carefully study all the terms and conditions listed in the policy document before purchasing it in order to make an informed decision.
