The accessories which are standard to your vehicle will
be covered. However, other non-standard/factory accessories are not covered
unless it was declared prior.
Depreciation in vehicle insurance often refers to the loss in value of insured vehicle over time due to factors such as age, wear and tear, and obsolescence. Vehicles, in general, are depreciating assets. For example, a new car will cost more than an ...
The coverage will depend on your vehicle’s fair market value or FMV. It also usually comes with a deductible or a sum of money you pay as a participation fee in the claim.
The coverage for Third Party Liability-Property Damage (VTPL-PD) provides you with protection in case your vehicle damages other people’s properties. This coverage is standard to all comprehensive vehicle insurance policies.
Expenses incurred by the third party due to death, disablement and medical are covered under Compulsory Third Party Liability (CTPL) and any excess in the CTPL benefits are covered under the Voluntary Third Party Liability -Bodily Injury (VTPL-BI).
Insurance claim adjuster is an independent person or company hired by your insurer to investigate claim and determine how much (or if) your insurance company should pay you for damages/losses. The appointment of an adjuster is dependent on the facts ...