What Is The Basis Of Arriving At Sum Insured For Your Motor Policy?
For Own Damage:
The Sum Insured under a Motor Insurance policy reflects the value of the motor vehicle determined based on the concept known as Insured’s Declared Value. Insured’s Declared Value is the value arrived at based on the Manufacturer’s present value and depreciation based on the Age of the Vehicle.
For Third Party:
Coverage is as per requirements of the Motor Vehicles Act, 1988 . Compulsory Personal accident cover for owner-driver is also included.
Motor Insurance Products
At STS Wealth, our insurance covers your building against fire and natural calamities such as floods and earthquakes through our Digit Standard Fire & Special Perils policy. However, since buildings are also at a risk of burglary, we also cover burglaries. This way, your building will not only be protected from damages and losses due to fires and natural calamities but also from burglary. To simplify this for you, we have differentiated coverage options as below: