UIIC-UNITED INDIA INSURANCE COMPANY
MOTOR POLICY We Cover Motor vehicle which includes private cars Motorised Two wheelers and Commercial vehicles excluding vehicles running on rails. Who can Insure ? i· Owners of the vehicle Financiers or Lessee who have insurable interest in a motor vehicle. Insured's Declared Value (IDV) (a) In case of vehicle not exceeding 5 years of age the IDV has to be arrived at by applying the percentage of depreciation specified in the tariff on the showroom price of the particular make and model of the vehicle. (b) In case of vehicles exceeding 5 years of age and Obsolete models (manufacture of those vehicles which have been stopped by the manufacturers) they have to be insured for the prevailing market value of the same as agreed to between the insurer and the insured. PACKAGE POLICY Package Policy - Section I Section I (Own Damage - OD) of Package Policy : Section I of package policy covers loss or damage to
