Car insurance acts like a great friend at the time of crisis. It covers the losses made in an accident and thus saves you from paying out the huge sum from your pocket. To ensure a smooth & comfort all the way you drive, prime insurance providing you all providing you all protection with its Motor Insurance policy.
Types of Motor Insurance policy:
Act Liability Policy
Types of Vehicles:
Act liabilities policy:
This policy is commonly known as Third Party insurance. This is the minimum insurance requirement for any vehicles to run on road in Bangladesh. This policy cove red damage of any Third Party properties and victim for any consequences through insurance holding vehicle.
Act Liability Coverage:
Third party bodily injury
Third Party property damage
Benefits of Act liabilities:
Major Injury 10,000.00
Minor Injury 5,000.00
Property Damage 50,000.00
Extra Benefits with an additional premium:
Death: 20,000.00 to Tk.80,000.00
Property Damage:50,000.00 to Tk. 2,00,000.00
Comprehensive Insurance Policy
Section 1. Own damage of the vehicle
Comprehensive Insurance Policy covers own damage of vehicle by the following perils ……..
by fire, explosion, self- ignition or Lightning
by burglary, housebreaking or theft
by riot and strike including malicious and terrorist activities
by earthquake (Fire and shock Damage)
by Flood, Typhoon, Hurricane, Storm, Inundation, cyclone, Hailstorm, Frost
by accidental external means
Section 2: Third party Liabilities
Same as act liability coverage facility & also protection for financial benefit against damaged vehicles Claim payable at actual damage & as per terms &conditions of the policy.
No Claim Bonus (NCB) – Janata Insurance offers up to 50% for no claim bonus, which will depend on claim experience.
Claim loading for Private & Commercial vehicle (Own damage section)
If the insured is not entitle to any NCB * made claim or claims during the preceding year of insurance, the basic premium at next renewal shall be loaded in accordance with following scale:
*One claim in the preceding year of insurance 30%
* Two claim in the preceding year of insurance 40%
* Three claim in the preceding year of insurance 50%
The loading is applicable on basic premium.
Requirement of papers for providing Motor Insurance certificate:
Tax token & fitness
Valid driving license
In case of commercial vehicle Route permit paper is also needed for Insurance certificate.