Auto Plus Insurance

 Why Auto Plus Insurance?

1. Depreciation waiver

All insurers deduct for depreciation on your car's parts, and therefore, you receive your claim only after deducting the amount of depreciation. The insurance company would deduct some amount on all parts except on glass items. Depreciation is charged as follows:

• 50% on Rubber Items, Tyre, Tube, Light
• 30% on Parts made of Fibre Glass
• up to 50% on Mechanical Parts as per the age.

With the depreciation waiver coverage, all depreciation amount deducted will be reimbursed to you when you make a claim

2. Daily rental/transportation cost

While your vehicle is being repaired in the workshop, you need to expend cost for daily travels. With the 'Daily Rental/Transportation Cost' coverage, we will give you the cost for daily travel. Daily travel costs will be given for a maximum of 14 days in case of partial loss and 30 days in case of total loss.

3. New vehicle replacement

When your vehicle is stolen or gets damaged beyond repair, the claim amount paid will be the insured value of your vehicle minus the salvage. The Insured value of your vehicle also accounts for the depreciation. Therefore, you need to bear the difference cost to buy a similar new vehicle. With the 'New Vehicle Replacement' coverage, the difference in the cost between the Sum Insured and the showroom price of the new vehicle will be reimbursed to you.     

4. Motor comprehensive policy should be available for auto plus.                                     

 Exclusions:

• Is not available for Commercial Vehicles
• Vehicles aged above 10 years
• Compensation for deductible access and salvage value

 Issued Date: 2004-11-17