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Compulsory Excess

This document outlines the compulsory deductibles that apply to claims made under the Own Damage section of vehicle insurance policies. It provides a table that lists the type of vehicle, compulsory deductible amounts based on the vehicle's weight, passenger capacity, and other classifications. For example, commercial goods vehicles under 7,500 kg have a Rs. 500 compulsory deductible, while commercial vehicles over 16,500 kg have a Rs. 1,500 compulsory deductible. Private cars under 1,500cc have a Rs. 500 compulsory deductible. The document also provides notes on endorsements to apply based on the vehicle type.

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Ashok Kumar
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4K views2 pages

Compulsory Excess

This document outlines the compulsory deductibles that apply to claims made under the Own Damage section of vehicle insurance policies. It provides a table that lists the type of vehicle, compulsory deductible amounts based on the vehicle's weight, passenger capacity, and other classifications. For example, commercial goods vehicles under 7,500 kg have a Rs. 500 compulsory deductible, while commercial vehicles over 16,500 kg have a Rs. 1,500 compulsory deductible. Private cars under 1,500cc have a Rs. 500 compulsory deductible. The document also provides notes on endorsements to apply based on the vehicle type.

Uploaded by

Ashok Kumar
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd

GR.40. Compulsory Deductibles.

Claims under Own Damage section of policies covering all classes of vehicles are
subject to a compulsory deductible as per the under noted table:-

TYPE OF VEHICLES COMPULSORY


DEDUCTIBLES
Commercial Goods carrying Passenger carrying (Rs)
Vehicles (other Vehicles Vehicles
than vehicles Not exceeding 7500 Kg. Not exceeding 17 500/-
rateable under GVW passengers
Class-D,E,F Exceeding 7500 Kg. GVW Exceeding 17 passengers 1000/-
and G of CVT) but not exceeding 16500 but not exceeding 36
Kg. GVW passengers
Exceeding 16500 Kg. Exceeding 36 passengers 1500/-
GVW
0.5% of IDV of the
Vehicles rateable under Class D of the Commercial Vehicles Tariff (CVT) vehicle subject to a
minimum of Rs.
2000/-
Vehicles rateable under Class E, F and G of the Commercial Vehicles Rs.50/-for two-
Tariff (CVT) wheelers and Rs.
500/- for others
Taxis and Three Wheelers rated as Commercial Vehicles (Not exceeding 500/-
1500cc)
Taxis and Three Wheelers rated as Commercial Vehicles (Exceeding 1500 1000/-
cc)
Private Cars including three wheelers rated as Private Cars(Not 500/-
exceeding1500cc)
Private Cars including three wheelers rated as Private Cars (Exceeding 1500 1000/-
cc)
Motorized Two Wheelers. 50/-

NB.1. The above Compulsory Deductibles are also to be applied where restricted covers
as specified under GR 45 A/B are granted.

NB.2. The endorsements applicable for compulsory deductibles as per above schedule
will be as follows:

a. For all commercial vehicles excluding taxis and motorized two wheelers
b. carrying passengers for hire or reward– Endorsement IMT – 21 is to be used.

c. For private cars, three wheelers rated as private cars, all motorized two
wheelers and taxies – Endorsement IMT– 22 is to be used.

NB.3. Exclusions under (a) of Endorsement IMT- 21 may be reinstated in cover by


payment of additional premium @15% of the total gross OD premium (before
application of any discount) and Endorsement IMT-23 is to be used for such
reinstatement of excluded cover.

GR.40. Compulsory Deductibles. Claims under Own Damage section of policies covering all classes of vehicles are subject
reinstatement of excluded cover.

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