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NISM Certifications · NISM-Series-X-B: Investment Adviser (Level 2) · Non-Life Insurance Products

Under a standard motor insurance package policy in India, which of the following is covered by the 'Own Damage' section rather than the 'Third Party Liability' section?

The repair cost of the insured car after an accidental collision is covered under Own Damage. This section protects the policyholder's own vehicle. Death, injury or property damage suffered by other people is a third-party liability matter, not own damage.

  1. ADeath of a pedestrian hit by the insured car
  2. BRepair cost of the insured car after an accidental collisionCorrect
  3. CProperty damage to another person's wall caused by the insured car
  4. DInjury to a cyclist hit by the insured car

Explanation

Own Damage cover compensates the policyholder for loss or damage to the insured vehicle itself, such as from accident, fire or theft. The other three options involve harm to third parties and fall under the Third Party Liability section.

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