INTRODUCTION:
This policy is intended to cover Pedal Cycle (Private Cycles as well as Trade Cycles) against perils given below.
INSURD PERILS
SECTION-I: Insured’s legal liability to:
Bodily injury to any person (other than a member of Insured family or a person in the insured’s service or being conveyed on the Pedal Cycle insured).
Damage to property not belonging to or in the custody or control of the insured or of any servant of the insured or member of the insured’s family or being conveyed on any such cycle.
IN ADDITION, where legal proceedings have been defended with the insurer’s consent, payment of all legal expenses for which the insured may be liable.
SECTION-II: Loss of or damage to any such Pedal Cycle:
By accidental external means (excluding the first Rs.15/- of each claim in respect of damage).
By fire, lighting or explosion.
By Burglary, Housebreaking or Larceny.
Note:The company’s liability shall in no case exceed under Sec.1 in respect of any one
accident or series of accident arising out of any event, the amount stated in the
schedule AND Section II in respect of Pedal Cycle, the sum insured stated in the
Schedule.
EXTENSION:
The policy may be extended to cover, RIOT & STRIKE risk by charging additional premium.
EXCLUSION:
The company shall not be liable for:
Bodily injury, damage to property, and loss or damage to any pedal cycle insured thereunder, caused or sustained whilst:
Being used in any employment, business or profession.
Let out or used for hire.
Being used in racing pacemaking or speed tests.
Any claim arising out of accidents occurring outside the Geographical area.
Wear and tear or mechanical breakdown.
Repairing or replacing rubber tyres, lamps, tools or accessories unless damaged by an accident involving damage to the cycle itself.
Theft of rubber tyres, lamps, tools or accessories unless the Cycle itself is stolen at the same time.
War and kindered perils
Nuclear risks
BUSINESS
Traditional Agency Commission 15%
RATE
Non-tariff
Normally a rate of 3.5 percent is charged.
UNDERWRITING LIMITS Limitations, where acceptance without
(In lacs) reference to controlling authority
(as indicated) is not permitted
B.O. D.O. R.O. Cycles more than five years old
As Officer permitted
SPECIAL FEATURE
Exclusion of (1) (i) should be deleted wihen the policy is issued to a firm and not to an individual.