Motor Vehicle Insurance: PICL Offers
The risks associated with the motor vehicle are classified into two major categories –
- Act Only Liability Insurance and
- Comprehensive Insurance
Act Only Liability Insurance
The insurer indemnifies the insured under the following circumstances :
- (a) Death of or bodily injury to any third party or any passenger of public service vehicle
- (b) Damage to property appertaining to the third party
- (c) All costs & expenses incurred with the written consent of the insurer
Comprehensive Insurance
The insurer indemnifies the insured against loss or damage to the motor vehicle and/or its accessories whilst thereon caused by
- (a) Fire, Explosion, Self-ignition or Lightning
- (b) Burglary, Housebreaking or Theft
- (c) Riot, Strike or Malicious Act
- (d) Earthquake (fire & shock)
- (e) Cyclone, Flood, Hurricane, Storm, Inundation, Hailstorm or Frost
- (f) Accidental External Means