Motor Insurance: 

Motor Insurance: 

Different Motor Policies issued for different types of motor vehicles. Motor Vehicles are usually classified in the following manner:

A. Private Vehicles:

The vehicles which are under private Registration and used for private purposes and not used for hire or reward, shall come under the scope of the Private Vehicles. The vehicles are classed on the basis of the registration and the purposes of use but not on the basis of the design or type.

Two types of policies are issued under the Private Vehicle,

(1) Comprehensive Policy:

This policy provides protection in respect of:

1. i) Own damages or loss of the Motor Vehicle and/or its accessories whilst thereon,
2. a) by fire explosion, self ignition or lighting
3. b) by burglary housebreaking or theft
4. c) by Riot and Strike including malicious activities
5. d) by Earthquake (Fire & Shock damage)
6. e) by Flood, Typhoon, Hurricane, Storm, tempest, inundation, cyclone,  hailstorm, frost.
7. f) by accidental external means
8. g) whilst in transit by road, rail, inland waterway, lift, elevator or air.
9. ii) Third Party Liability in respect of accident caused by or arising out of the use of   the motor vehicle against all sums including claimant’s costs and expenses which the insured shall become legally liable to pay in respect of,
10. a) death of or bodily injury to any person except the person who is under
11. b) damage to property other than property belonging to the insured or held
    employment of the insured. Maximum payable BDT 20,000 (death). in trust by or in the custody or control of the insured. Maximum Payable  BDT 50,000 (property damage).

The premium rate, terms and conditions are as per Motor Tariff.

(2) Act Liability Policy :

Third Party Liability in respect of accident caused by or arising out of the use of the motor vehicle against all sums including claimant’s costs and expenses which the insured shall become legally liable to pay in respect of,

1. a) death of or bodily injury to any person except the person who is under employment of the insured.
2. b) damage to property other than property belonging to the insured or held in trust by or in the custody or control of the insured.

The premium rate, terms and conditions are as per Motor Tariff.

B. Commercial Vehicles

All vehicles not provided for under the Private or Motor Cycle Tariff excluding vehicles running on rails.

Two types of policies are issued under the Commercial Vehicle,

1) Comprehensive Policy:

This policy provides protection in respect of

1. i)Own damages or loss of the vehicle and or its accessories whilst thereon,
2. a) by fire explosion, self ignition or lighting
3. b) by burglary housebreaking or theft
4. c) by Riot and Strike including malicious activities
5. d) by Earthquake (Fire & Shock damage)
6. e) by Flood, Typhoon, Hurricane, Storm, tempest, inundation, cyclone,
7. f) by accidental external means
8. g) whilst in transit by road, rail, inland waterway, lift, elevator or air.
9. ii)Third Party Liability of the insured against all sums including claimant’s costs and expenses which the insured shall become legally liable to pay in respect of the followings, hailstorm, frost.
10. a) against any liability which may be incurred by him in respect of the death or bodily injury to any person or damage to property of a third party caused by or arising out of  the use of the vehicle in a public place. vehicle caused by or arising out of the use of the vehicle in a public place.
11. b) against the death of or bodily injury to any passenger of a public service The premium rate , terms and conditions are as per Motor Tariff.

2) Act Liability Policy

Third Party Liability of the insured against all sums including claimant’s costs and expenses which the insured shall become legally liable to pay in respect of the followings,
a) against any liability which may be incurred by him in respect of the death

1. b) against the death of or bodily injury to any passenger of a public service or bodily injury to any person or damage to property of a third party caused by or arising out of  the use of the vehicle in a public place. vehicle caused by or arising out of the use of the vehicle in a public place.

The premium rate, terms and conditions are as per Motor Tariff.

No Claim Bonus:

If there is no claim in a year you will be entitled to “No Claim Bonus”.
NCB for each year of no claim is as follows: