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Motor Insurance


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:

Comprehensive policy
Act Liability Policy

Types of Vehicles:

Commercial Vehicles
Private Vehicles
Motor Cycle

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:

  1. Death 20,000.00
  2. Major Injury 10,000.00
  3. Minor Injury 5,000.00
  4. 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

Covers:

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:
  1. Registration certificate
  2. Tax token & fitness
  3. Valid driving license
  4. In case of commercial vehicle Route permit paper is also needed for Insurance certificate.

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