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Motor Vehicle Insurance |
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Policy Rules |
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Endorsements for Motor Policy |
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1. |
What is an endorsement? |
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An endorsements is an written evidence of an agreed
change in the policy. It is a document that incorporates changes in
the terms of the policy. Endorsement can be of two type i.e. premium
bearing & non premium bearing endorsements.
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2. |
What is non-premium bearing endorsement? |
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Non premium bearing endorsement is the endorsement
for which no additional premium is charged. |
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Examples :- |
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- Rectification in contact details. |
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- Rectification in engine / Chassis
number |
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- Addition of hypothecation...etc. |
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3. |
What is premium bearing endorsements? |
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Premium bearing endorsement is the endorsement for
which additional premium is charged. |
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Examples :- |
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- Transfer of ownership |
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- Addition of LPG / CNG kit |
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- Change of RTO location...etc. |
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4. |
What are the documents required for transfer of
ownership endorsement? |
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Documents required are :- |
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- Request letter from the insured |
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- Endorsed RC copy |
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- Proposal form |
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- Vehicle inspection report if request for endorsement and transfer
date is greater than 14 days. |
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5. |
What are the documents required for endorsement of change of RTO
location? |
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Below are the documents which are required for change in RTO
location:- |
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- Request letter from the insured |
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- Invoice copy of the kit |
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- Payment of additional premium, if applicable |
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6. |
What are the documents required for endorsement of electrical &
non electrical accessories? |
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Below are the documents required :- |
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- Request letter from the insured. |
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- Invoice copy of the accessories. |
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- Payment of additional premium. |
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7. |
What are the documents required for endorsement of addition of
LPG / CNG kit? |
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Documents required are: |
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- Request letter from the insured |
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- Invoice copy of the kit |
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- Payment of additional premium |
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8. |
What are the documents do I need to submit for endorsement of
Change or removal of
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hypothecation? |
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Documents required are: |
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- Request letter from the insured |
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- Endorsed Rc copy or NOC from financial institution
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9. |
What are the documents do I needs to submit for endorsement of
correction in engine / chassis /
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registration number? |
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Documents required are :- |
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- Request letter from the insured |
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- RC copy |
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