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Insurance ยป Automobile Insurance
Depreciation
 

Depreciation Applicable in the event of claim - Private Vehicle & Motorcycle

Age of Vehicle Percentage of
Depreciation
Upto 6 months
Nil
Between 6 months To 1 year
5%
Between 1 year To 2 years
10%
Between 2 years To 3 years
15%
Between 3 years To 4 years
25%
Between 4 years To 5 years
35%
Between 5 years To 10 years
40%
Above 10 years
50%

Note: For all Rubber, Nylon or plastic parts, Bumper, Back Light & battery 50% Depreciation

or all parts made of Glass - Nil

Depreciation Applicable in the event of claim - Commercial Vehicle

Age of Vehicle Percentage of Depreciation
Upto 6 months Nil
Between 6 months To 1 year 10%
Between 1 year To 2 years 15%
Between 2 years To 3 years 20%
Between 3 years To 4 years 30%
Between 4 years To 5 years 40%
Between 5 years To 10 years 45%
Above 10 years 60%


Excess

Types of Automobile

Imposed Excess (Rs)

Discount on premium for imposed Excess % Compulsory Excess (Rs)
Registration date of Vehicle

Upto 5 years

Rs

5 To 10 years

Rs

Above 10 years

Rs

Motorcycle 500 10 500 500 500
1000 15
2000 20
Private vehicle 1000 10 1000 2000 3000
2000 15
5000 20
10000 25
Taxi 1000 10 2000 3000 4000
2000 15
5000 20
10000 25
Commercial Vehicle 1000 10

Tanker-
5000

8000 10000
2000 15
5000 20 Tempo-
1000
2000 3000
10000 25 Others-
2000
4000 6000

Agriculture

Forest/Construction Equipment Vehicle

1000 10 5000 7000 10000
2000 15
5000 20
10000 25

Note: Compulsory Excess for Ambulance, Fire Brigade, Dead Body Carrying Vehicle Rs. 2000/-

 

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Personal Line Insurance is meant to cover risks of person and property of individuals or group of individuals or liability developing upon them...
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Private Car, Two Wheeler, Commercial Vehicle, Ambulance, Construction Equipment vehicle, Agriculture & Forest Vehicle
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