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Why is a Comprehensive Policy in Motor Insurance a Good Idea?

20

May, 2016

Why is a Comprehensive Policy in Motor Insurance a Good Idea?

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Ramesh: Hi Rakesh! Rakesh: Hi Ramesh, How are you? Ramesh:All good, planning on buying a new car. Rakesh: Wow! Do opt for a comprehensive motor insurance policy. Ramesh: What is that? Are you in a similar dilemma? Don’t know which type of motor insurance policy to opt for? Here are a few insights on why taking a comprehensive motor insurance policy is a good idea. Investing in a car has its own share of expenses. Whether it is the maintenance cost or the ever rising petrol costs, you name it! […]

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Components of Motor Insurance

28

Jun, 2013

Components of Motor Insurance

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IDV: IDV means Insured’s Declared Value. It is the current market value of your vehicle. IDV is arrived at by adjusting the current Manufacturer’s Listed Selling Price(*see below) of the vehicle with depreciation percentage listed in the table below: VEHICLE % OF DEPRECIATION Not exceeding 6 months 5% Exceeding 6 months but not exceeding 1 year 15% Exceeding 1 year but not exceeding 2 years 20% Exceeding 2 years but not exceeding 3 years 30% Exceeding 3 years but not exceeding 4 years 40% Exceeding 4 years but not exceeding 5 […]

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