a. You must have insurable interest. In other words you must be the Registered Owner of the vehicle. In case of transfer of ownership on sale of your vehicle the transferee (buyer of the vehicle) shall apply for transfer of the policy within 14 days from the date of transfer of R.C to the Company so that the necessary change of ownership is recorded in the policy by the Company and issue a fresh Certificate of Insurance. If this is not done within the stipulated period of 14 days claims if any will be rejected. This may kindly be noted.

b. In case your vehicle is fitted with bi-fuel system such as Petrol/ Diesel and CNG/ LPG as permitted by the concerned RTA the same should be mentioned in the proposal form itself so that required premium can be charged. Non-disclosure of this can prejudice the claim.

c. It is always advised to renew your motor policy before the expiry date so that there is continuity. In case there is any break in insurance policy the vehicle needs to be physically inspected at your cost and a fresh proposal form will be collected.

d. The Insured Declared Value (IDV) of the vehicle will be deemed to be Sum Insured for the purpose of insurance. Therefore when your vehicle is brand new it is covered at 95% of Invoice Price for the first policy period. Thereafter depreciation is charged for the vehicle based on the usage i.e. age of the vehicle as per schedule of depreciation for arriving at IDV. The said schedule of depreciation is very much available with our Office and the same can be verified by you if you feel it necessary. However if your vehicle is beyond 5 years of age or an obsolete model IDV fixation under the policy is only based on an understanding between you and our Company. Therefore you may exercise proper care before fixing IDV under the policy.
e. We advise you to keep safely all previous policy records so that you are helped in case Third party claims are filed after many years.