(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):

1. By fire, explosion, self-ignition or lighting.
2. By burglary, house-breaking or theft.
3. By riot & strike including malicious and terrorist activities.
4. By earthquake (fire and shock damage).
5. By flood, typhoon, hurricane, storm, inundation, cyclone, hailstorm, frost, tempest.
6. By accidental external means.
7. Whilst in transit by road, rail, inland waterway, lift, elevator or air.
8. 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:

1. Horse power or cubic capacity of the vehicle
2. Insured’s estimated value of the vehicle
3. Seating capacity of the vehicle

2) Commercial Vehicle:

1. Passenger Carrying: Type of vehicle

Insured’s estimated value of the vehicle
Seating capacity of the vehicle

1. Goods Carrying Vehicle:

Carrying capacity
Insured’s estimated value of the vehicle

3) Motor Cycle:

1. Cubic capacity of the vehicle
2. 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.

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: