Sunday, 6 March 2016

Classification of Vehicles Insured


Vehicle insurance is usually divided into the following four categories are:

(1) private cars.
(2) commercial vehicles business or commercial purposes, refer to any type of mechanically propelled vehicle. They passenger vehicles, goods vehicles or tractors can be.
(3) Trade vehicles.
(4) motorcycle.

Literacy rate of the vehicle which is the purpose of the class is made using the basis for classification for each classification are issued, and.

Tariff and non-tariff Office

There are two types of insurance companies. They are members of the Association of Motor Tariff "Tariff Office" and is called the tariff, which is not known as a member of the Association of 'non-tariff office. " Most of the companies have customs offices. Premium rates and conditions of the customs tariff policy of the office is controlled by the Association. Bangladesh Association of tariffs for commercial vehicles for the whole country, but also for private cars and motor-cycle in regional customs. Seven divisions of the country, Dhaka, Rajshahi, Chittagong, Khulna, Sylhet, Barisal and Rangpur divisions lie in a particular insurance company that has become a member of the Association is divided into specific regional tariffs. Of course there is no division and no territorial limits for driving restrictions on vehicles but insurance must be affected in a particular department. Similarly, some other regions of the office in a particular region of a tariff, but a car insurance premium tariffs and conditions of the region in which the vehicle will be managed by the Association.

Types of Coverage

Each car policy can be divided into three types:

(1) This Act Policy

The risk of legal policy, a policy which is not necessarily to be taken by the owner of a vehicle under the Motor Vehicles Act. According to this law, a principle by which any liability arising out of use of the vehicle in a public place or a person's death or physical injury caused by the insured may incur with respect to the cover must be taken. The extent to which the amount specified in the Act is also a policy should be adopted. Workmen's compensation insurance is a policy that any liability arising under the provisions of the 1923 law, the presence or otherwise engage in any salaried employee or driving a motor vehicle is carried in respect of death or bodily injury to vehicle cover. Without exception, all the provisions of the policy itself is printed together. It should be seen as compulsory insurance as well as personal injury and property damage only to.

(2) Third Party Policy

This policy is only the third-party risk, which is required by law for an insurance policy, as explained above, rather than the common law Act 1855 and as such the risk of fatal accidents, for which insurance can be attributed in accordance with the laws, covers. The policy includes third party property damage for which the insured is responsible. In addition to the insurer to pay compensation charge, the claimant's expenses  and costs  for which the insured becomes legally responsible, including all of the money.

(3) Comprehensive Policy

Under a single comprehensive policy covers a variety of risks. Some of the common risks, which alone is covered by this policy, and that the risk of the insured payment of an additional premium may be added if there are any other risks are covered. A comprehensive policy for private cars are usually the following risks:

(A) the loss or damage is. Required Lamps, Tyre, and car accessories, including the accidental external means, fire, explosion, self-ignition, lightning, snow, burglary, housebreaking, theft, malicious damage in transit by road or by law and are insured against, rail, inland waterways, lift or elevator.

(B) any accident and to a certain extent with respect to the nearest repair yard to remove the car from the removal of the charge.

(C) third party liability, ie, covered the risk of third-party policies.

(D) costs and expenses incurred with the consent of the company.

(E) repairs accident, which the company attributed to a certain extent due to the charge for cars.

(F) by the insured or the vehicle occupant injuries incurred in connection with medical expenses up to a certain limit.

In addition to the above risks, the insured can also secure additional benefits after paying additional premiums. This facility (i) death or bodily injury alone or together with the insured's wife, and the anonymity of passengers, (ii) riots and strikes, etc., (c) theft, larceny or by anger, coats, luggage can be lost or f. re, etc.

Commercial vehicle policies, which are as wide as those with private insurance are not. The main difference between the benefits of personal accident deducting money from third parties in respect of the compensation of the damage limitation. 20,000 on any one accident. On the same line as the cars motorcycle policies are issued.

Different policies in different conditions and should be studied carefully.

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