Amtek manufactures a wide range of components for automotive applications, specialized in engine, transmission and suspension systems. The company has clients like Maruti, TVS, Hero Honda, Mahindra & Mahindra, Bajaj Auto and Tata Motors. It also has presence in the US and UK.
Auto insurance, also commonly known as vehicle insurance or motor insurance, is an insurance which consumers can purchase for cars, trucks, and other vehicles. In other words, it is a contract between the owner of a vehicle and the insurance company. According to the contract, the vehicle owner agrees to pay the premium and the insurance company agrees to pay the losses as defined in the policy.
The primary use of auto insurance is to provide protection against losses incurred as a result of traffic accidents. The auto insurance provides property, liability and medical coverage. property coverage pays for the damage to or theft of the vehicle. Liability coverage pays for the legal responsibility to others for bodily injury or property damage. Medical coverage reimburses the cost of treating injuries, rehabilitation and sometimes lost wages and funeral expenses.Auto Insurance Coverage Levels
Insured should write the number of the other vehicle in case of an accident or third party claim Names of witness should also be written down File an FIR with the nearest police station Insured should then contact the insurance company and get a claim number A surveyor is appointed who reports the approximate value of loss or damage Based on the report of the surveyor, insurance companies try to send the amount to the insured within one to three weeks An individual might have to pay the repair charges himself and later get it reimburse
Different documents are required for claiming insurance. Here we discuss it under three different types of insurance.For Accident Claims
The claim for auto insurance is rejected under the following circumstances: If it is a consequential loss; depreciation; wear and tear; mechanical and electrical breakdown; failure or breakage.
When the vehicle is used outside the geographical area; when used contrary to limitation as to use; driven by a person other than the driver stated in the driver's clause.
In case of war perils, nuclear perils and drunken driving.