(1) Private Car

(2) Commercial Vehicle

(3) Motor Cycle.

Catagory:

(1) Act Liability Policy Form (Third Party): A common policy form for all types of vehicle, ie. Comprehensive Policy Form: Separate policy forms to be used for private vehicle, motor cycle & commercial vehicle.

Policy form shall contain two sections::

(i) SECTION 1, Own damage section. Under Own damage section the loss or damage to the insured vehicle to be covered.

(ii) SECTION 2, Act liability section. Under Act liability section the liability of the insured, as per motor vehicle Amendment Act, 1991 shall be covered.

(2) Act Liability Policy Form (Third Party): A common policy form for all types of vehicle i.e. private vehicle, motor cycle & commercial vehicle to be used. Liability of the insured made compulsory by motor vehicle Amendment Act, 1991 as well as additional liabilities may be insured.

Comprehensive Policy (What it Covers):

• By fire, explosion, self-ignition or lighting.
• By burglary, house-breaking or theft.
• By riot & strike including malicious and terrorist activities.
• By earthquake (fire and shock damage).
• By flood, typhoon, hurricane, storm, inundation, cyclone, hailstorm, frost, tempest.
• By accidental external means.
• Whilst in transit by road, rail, inland waterway, lift, elevator or air.
• Act liability insurance risks.

Act Liability Policy (What it Covers):

Death	:	Tk. 20,000
Grevious Injury	:	Tk. 10,000
Minor Injury	:	Tk. 5,000
Property Damage	:	Tk. 50,000

Rating of Motor Insurance:

We have three types of tariffs in our country for rating of motor insurance. These are private car, commercial vehicle and motor cycle tariff. As per tariff, the rating of motor insurance depends on following factor:

1) Private Car:

• Horse power or cubic capacity of the vehicle
• nsured’s estimated value of the vehicle
• Seating capacity of the vehicle

2) Commercial Vehicle:

• Passenger Carrying: Type of vehicle

Insured’s estimated value of the vehicle

Seating capacity of the vehicle

• Goods Carrying Vehicle:

Carrying capacity

Insured’s estimated value of the vehicle

3) Motor Cycle:

• Cubic capacity of the vehicle
• Insured’s estimated value of the vehicle

No Claim Bonus

A rebate in accordance with the following scale may be allowed by way of deduction from the premium required for the next renewal. No Claim Bonus applicable to own damage premium only.

On Comprehensive Policy	Private Vehicle	Commercial Vehicle	Motor Cycle
1st. Year. No claim made during the preceding year of insurance	30%	30%	15%
2nd Year. No claim made during the preceding 2 consecutive years of insurance	40%	40%	20%
3rd. Year. No claim made during the preceding 3 consecutive years of insurance	50%	50%	25%

On Act Liability Policy	Private Vehicle	Commercial Vehicle	Motor Cycle
1st. Year. No claims made during the preceding year of insurance.	10%	10%	5%
2nd. Year. No claims made during the preceding 2 consecutive years of insurance.	20%	20%	10%
3rd. Year. No claims made during the preceding 3 consecutive years of insurance.	25%	25%	15%

Claim Loading for Private Vehicle & Commercial Vehicle (Own Damage Section Only):

If the insured is not entitle to any NCB & made claim or claims during the preceding year of insurance, the basic premium at next renewal shall be loaded in accordance with the following scale:

Own Damage Section	Private Vehicle	Commercial Vehicle
One claim in preceding period of Insurance	30%	30%
Two claims in preceding period of Insurance	40%	40%
Three claims in preceding period of Insurance