![[Valid Atom 1.0]](valid-atom.png "Validate my Atom 1.0 feed")
* India TRUCKMAKER TATA Motors': New overinsurance for trucks
* India - Tata Motors launches first of its kind ‘Triple Benefit Insurance’ across its range of trucks
* Depreciation waiver / Zero Depreciation Coverage: In the event of Partial loss, Insurance companies generally do not pay 100% of the claim. Instead the claim amount is reduced as per Standard Policy Deductible and depreciation on replaced parts, which ranges from 5-50%. However under the Depreciation Waiver / Zero Depreciation coverage, the Insurance Company will not deduct any depreciation amount from the claim.
* New Vehicle Replacement Coverage: In the event of total loss of a vehicle, insurance companies generally pay the Insured Declared Value (IDV) of the policy, which is always lesser than the replacement value of a new vehicle, as a result customers have to bear the difference in amount. However, under the New Vehicle Replacement Coverage, at the time of purchase of a new replacement vehicle, of a similar make and model, the customer would be paid the current ex-showroom price of the replacement vehicle. In addition, the customer would also be paid the current cost of insurance and registration, subject to adjustment of refunds.
* Loss of Income/ Vehicle Hire Cost: A commercial vehicle is a source of livelihood for the operator and any accident / total loss of a vehicle, has an adverse impact on the income of the vehicle operator. Under the Loss of Income / Vehicle hire cost cover, reimbursement would be provided to the customer (subject to policy conditions in all cases).
Labels: truckmakers news India
posted by Unknown @ 5:42 AM
0 Comments:
Post a Comment
<< Home