Insurance


PACKAGE INSURANCE for ELEKTRON CYCLES m368+ & M5X
Insurance Providers- United India Insurance Company Limited
The policy protects against 'Accidental damage/loss to the e-cycle', and personal accident'
COVERAGE- LOSS/DAMAGE CAUSED TO ECYCLE BY:

1. By fire explosion self-ignition or lightning

2.  By riot and strike

3.  By burglary housebreaking or theft

4.  By earthquake (fire and shock damage)

5.  By flood typhoon hurricane storm tempest inundation cyclone hailstorm frost

6.   By accidental external means

7.   By malicious act

8.  By terrorist activity; whilst in transit by road rail inland- waterway lift elevator or air;

9.  By landslide rockslide.

 

Provided that the insurer’s liability (for loss or damage to 1 vehicle in a policy year) will not exceed the sum insured set in the schedule
PERSONAL ACCIDENT COVER- SUMMARY OF BENEFITS

LOSS COVERED

COVERS UPTO

PEOPLE COVERED

WHERE

Death, Loss of Two Limbs or sight of both eyes and one limb and sight of one eye.

100% of CSI

The rider of the Vehicle – Named Basis

INDIA

Loss of one Limb or sight of one eye.

50% of CSI

The rider of the Vehicle – Named Basis

INDIA

Permanent Total Disablement from injuries other than named above.

100% of CSI

The rider of the Vehicle – Named Basis

INDIA

 

  • Excess: 0.5% of the claim amount subject to a minimum of Rs.2500/- for each and every claim
  • Insured’s Declared Value / Insured Value: 95% Invoice Value

NECESSARY DOCUMENTS WHILE INTIMATING A CLAIM

A.      Policy Number

B.      FIR must for Theft, Burglary, etc.

C.      Repair estimate

BASIC CLAIM DOCUMENTS

1.       Duly filled and signed claim form

2.       Purchase Invoice

3.       Policy Copy

4.       Repair estimate

5.       Copy of FIR lodged at the nearest police station for Burglary/Theft

6.       No trace report confirming that the stolen vehicle is not traceable for Burglary/Theft

7.       Subrogation cum Indemnity on judicial stamp paper for Burglary/Theft

8.       NOC from financer, if applicable

LIMITATIONS AS TO USE / EXCLUSION
1. Consequential loss, depreciation, wear and tear, mechanical or electrical breakdown failures or breakages; damage to Tyres and Tubes unless the vehicle insured is damaged at the same time in which case the liability of the company shall be subject to a deduction for depreciation.
2. Loss of or damage to accessories by burglary housebreaking or theft unless the vehicle is stolen at the same time; and
3. Any accidental loss or damage suffered whilst the insured or any person driving the vehicle with the knowledge and consent of the insured is under the influence of intoxicating liquor or drugs.
4. The policy covers the use of the vehicle for any purpose other than Hire or reward, Carriage of goods other than personal luggage, organized racing, Pacemaking, Speed testing, Reliability Trials, Any purpose in connection with Motor Trade outside India.
5. Third Party Liability is not covered (damage to person or property by the rider of any other person while riding)


SPECIAL CONDITIONS
1. The Pedal Cycles / e-Bicycle should be securely locked when left unattended.