When you finally get the keys to your brand-new car, it is natural to be eager to take it out for a spin. You have imagined this moment for months; cruising along on the highway, with music playing and the wind in your hair. But as you begin driving, you might be hesitant to step on the accelerator. You get a little anxious! What if something goes wrong while driving? The last thing you want is any kind of harm coming to the new love of your life.
Most new-car owners feel this way, given the number of risks vehicles are exposed to on the road or otherwise.
According to a report by the Ministry of Road Transport and Highways, over 4 lakh road accidents were reported in the country during the year 2021, causing injuries and fatalities. The worst affected age group was 18-45 years.
While you should not let the fear of untoward incidents steal your joy of driving, it is prudent to take every precaution to safeguard your brand-new car and yourself when on the road. Motor Vehicle Insurance is an essential requirement for any vehicle owner for several reasons.
All that Motor Insurance covers
Motor vehicle insurance is a type of insurance plan that offers financial coverage for any damage and loss sustained to your vehicle due to accidents, theft, natural calamities, man-made disasters, and other such mishaps.To obtain such financial cover, you need to pay an annual premium, which is based on various factors, such as the car’s value, location, type of coverage, etc.
Types of Motor Insurance plans
There are three main types of Motor Insurance Plans that can cover all kinds of vehicles, from two and four-wheelers to commercial vehicles.Let’s look at each of these types in detail.
Third-party limited liability insurance
Section 146 of the Motor Vehicles Act, 1988 makes it mandatory for every vehicle owner in India to have third-party insurance. This type of insurance covers various third-party liability claims made against you.For instance, let’s say you accidentally bump into another vehicle while driving, causing loss or damage to the other vehicle, individuals or property. You would be responsible for covering any liability arising from such a situation.
It is important to remember that having third-party Motor Insurance is a legal obligation. This means if you are found driving without it, you could be liable for hefty penalties. Having a valid insurance policy for your vehicle can save you from unnecessary expenses to meet third-party liabilities.
Own damage insurance
A road accident can not only cause physical damage to you and your vehicle but could also throw your financial plans out of gear as you may have to pay for repairs and damages out of your pocket.Own Damage Insurance is a type of Insurance Plan designed to protect you from financial loss on account of vehicle theft or damage. Depending on the terms and conditions of the policy you choose, the Motor Insurance plan can cover costs for necessary repairs and replacements, without draining your savings.
Also read:What is the difference between First-Party and Third-Party Motor Insurance?
- Comprehensive Insurance Plan Comprehensive Insurance is a combination of own damage insurance and third-party insurance. This type of plan offers financial coverage for damage or loss incurred by you or your vehicle and that of a third party.
Typically, buying such a plan is best, as it lays to rest all your worries. However, as it offers cover for you as well as a third party, the premiums may be a little higher.
Inclusions and exclusions of comprehensive Motor Insurance
It is important that you understand what is included and what is not in your comprehensive auto insurance plan to ensure a successful claim process if the need arises.To do so, it is vital to read the policy document which contains the list of exclusions and inclusions. Sign the policy document only after you are clear and confident about the terms being offered.
Here's a closer look at the common inclusions and exclusions of a Motor Insuranceplan:
Comprehensive Motor Insurance Plan Inclusions:
- Accidental damages
When your vehicle meets with an accident, it could suffer dents, scratches and maybe even damage requiring extensive repairs. Most insurance plans cover the cost of repairs in case of such accidental damage. This way, your vehicle can get back to its previous condition and you can get back on the road as soon as possible. - Third-party liability
If another vehicle, individual or someone’s property suffers from loss or damage due to an accidental collision with your vehicle, the liability can be covered by your insurer. - Personal accident cover
Road accidents are an unfortunate possibility for all motorists, and can sometimes involve hospitalisation, medical surgeries, or in the worst-case scenario, fatalities. Along with causing immense emotional and physical stress, they can be a massive drain on your finances. A comprehensive Motor Insurance plan can offer financial coverage and other assistance, depending on the terms and conditions, in such instances. - Damage caused due to natural calamities
Natural calamities such as floods, earthquakes fires, etc. are beyond anyone’s control. They can claim lives and cause destruction. But what you can do is be prepared to tackle them. A comprehensive insurance plan typically covers damage and loss incurred by the insured vehicle resulting from natural calamities. This helps you get back on track in such cases. - Damage caused due to man-made disasters
Man-made disasters like terrorist attacks, riots, and strikes can happen at anytime and anywhere, and minimising the damage from such situations are not in you control.
If your vehicle gets damaged or destroyed in such a disaster, you will likely have to bear a significant loss. However, with a comprehensive insurance plan, which covers damage and loss incurred from man-made disasters, you are financially covered. - Vehicle theft
A comprehensive insurance plan also offers coverage for vehicle theft. Typically, you receive a reimbursement of up to a specific limit for theft of vehicle parts. In case of theft of the vehicle itself, you receive a pre-determined reimbursement amount based on you vehicle's Insured Declared Value (IDV). - Transit damage
If a job transfer is on the cards, you will likely have to shift everything, including your vehicle, to a new city. If your vehicle is damaged or lost during transit (via rail, road, air, or water), you can claim transit damage through your comprehensive insurance policy.
Comprehensive Motor Insurance exclusions:
- Wear and tear
A vehicle is a depreciating asset, which means its value and structure depreciate with time. Hence, you will commonly notice wear and tear in your vehicle as time progresses. This can include dents and scratches, gradually deteriorating engine capabilities, etc. Such damage due to natural wear and tear cannot be claimed under a Motor Insurance plan. - Damage incurred due to reckless behaviour
If you cause an accident due to reckless behaviour, such as driving under the influence of alcohol, excessive speeding, breaking traffic rules, or driving without a license, then your insurance claim will be rejected. - Damage incurred due to nuclear activity or war
Damage or loss to your car due to nuclear activity, gas leaks, or explosions is not covered under comprehensive insurance. Even if your vehicle is damaged due to an act of war, such as bombing, gunfire, and other war-related activities, you are not entitled to compensation. - Use of vehicle beyond the geographic scope
Every insurance policy caters to a specific geographic scope. If your vehicle has incurred damage or loss beyond the specified geographic region, and you raise a claim, the likelihood of the claim being processed is relatively low.
Common Motor Insurance plan add-ons
Motor Insurance add-ons are policy coverage extensions you can opt for, to increase the scope of protection for your vehicle. In simple terms, Motor Insurance add-ons cover specific expenses, and these add-ons come at an extra cost.Here are some of the most common Motor Vehicle Insurance add-ons.
- Zero depreciation or zero dep cover
As your car gets older, it depreciates in value. Insurers take this into account while settling your claims. For instance, imagine that your five-year-old car suffers damage in an accident, and the repair bill amounts to ₹ 25,000. The insurer may not pay you the entire amount. It will consider the depreciated value of the parts replaced and only pay you the difference. However, having a zero depreciation cover allows you to claim the full amount without any deductions. - Engine protection cover
Most vehicle insurance policies do not cover engine failure. If you want this additional cover, you can opt for the engine protection add-on at an extra cost. - 24x7 road assistance cover
A sudden vehicle breakdown, whether on a busy highway or in a deserted area, can leave you stranded and helpless. But if you have a roadside assistance add-on, you have access to round-the-clock assistance in case of vehicle breakdowns. This can include towing services, cover for loss of personal belongings, tyre repair charges, etc.
Also read:What are the benefits of Motor Insurance add-on covers?
What is a Motor Insurance premium?
Motor Insurance premium is the amount you pay an insurance company to get the necessary coverage for your vehicle. Factors that affect a premium include the value of your car, the type of coverage you need, the add-ons you opt for, the city you live in, etc.Ways to reduce a Motor Insurance premium
There are several ways in which you can get an insurance company to potentially lower your Motor Insurance premium. Let’s look at a few of them.- Type of insurance plan The type of Insurance Plan you opt for is the primary determinant of your premium. Generally, own damage insurance and third-party liability insurance plans have lower premiums, while a comprehensive Motor Insurance plan comes at a higher premium.
- Bundling plans Some insurance providers may provide discounted premiums if you buy multiple policies from them as a bundle. For instance, you could opt for Home Insurance along with your Motor Insurance cover.
- Geographic location The city you live in is another factor that affects the premium. For instance, if you live in a metropolitan city, where traffic is heavy and the possibility of accidents is high, your premium is also likely to be higher than what you would have to pay for in a less crowded or safer city.
- Safe driving If you are a cautious driver, having a good driving record, it could save you some money on the premium payments. Some insurers offer a safe driver discount to those without a history of accident or traffic violations. Factors like your age and the number of years you have been driving could also make a difference.
- Upfront payments / long term policies Insurers may offer a discount if you opt for a longer-term policy, say for two to three years, or if you choose to pay the premium upfront for the entire term of the policy.
- No claim bonus When you do not raise a claim during a year, your insurer may reward you with a claim bonus, which can influence the insurance premium you pay. Typically, most insurers extend the No Claim Bonus as a discount on your insurance premium, reducing the premium to be paid for the following year.
- Additional safety features in the vehicle Insurers may even provide discounted premiums if you install additional safety features in your car. These could be anti-theft devices, airbags, alarm, anti-lock braking features, etc.
The general advice is to buy a comprehensive insurance policy, as it offers extensive coverage. This is supported by the reasoning that paying a higher premium periodically is better than shelling out a significant sum at once during a crisis.
Also read: How do Motor Insurance rate change from city to city?
These are only a few factors that determine your insurance premium. To get a better sense of the amount you will have to pay as an insurance premium, it is best to contact the insurer, as they can explain various insurance plans in detail, review your profile, and assist with choosing a suitable policy.
How to make a claim and what is the settlement process?
Should you meet with an accident or need to make a claim, it is essential to contact the insurance company immediately. Before any repairs can begin, a surveyor from the insurance company will evaluate the damages and send a report. It is also advisable to take pictures or videos of any damage or loss sustained and provide all the necessary information to the insurance company regarding the incident. The claim amount you are eligible for will be based on the surveyor’s report.You can make two types of claims:
If you opt for a cashless claim policy, your insurance company will settle the payment for all repairs and replacements directly with the garage, provided it is a part of the insurer’s network.
- Cashless claim
- Filled and signed claim form
- Copy of the policy document
- FIR or police report (in case of theft or damage due to an accident)
- Repair bills and receipts
- Vehicle registration certificate
- Driving license of the driver
- Reimbursement claim If you opt for a reimbursement claim, you will be required to pay for the repairs upfront. You can then submit the bills and receipts to the insurance company for reimbursement.
Now let’s look at the list of documents you may need to submit for claim settlement.
Documentation required for making a claim
You should also keep in mind that there are certain timelines within which insurance companies are required to settle claims. Typically, claims are settled within 30 days from the submission of the required documents.You can seek support from the insurance ombudsman or register a complaint with the Insurance Regulatory Development Authority of India (IRDAI) if there is a delay or dispute in the claim settlement.
Tips for choosing the right Motor Insurance policy
Evaluateyour needsUnderstanding your needs is the first step in the process of choosing the right Motor Insurance plan. Evaluate the different types of policies and coverage options available. Also, consider other factors, such as your budget, vehicle type and age, add-ons needed, etc.
Researchyour policy options
This step will involve comparing quotes from different insurers keeping in mind the overall coverage, premiums, add-ons, etc. You can look for discounts and explore other options like bundling policies, No Claim Bonus, or some of the other offerings we discussed above, to get the best deal.
Check the credibility of the insurer
Assessing the reputation and financial stability of the insurer is extremely important. You can check the insurer’s track record in terms of claim settlement, overall assistance, customer service reviews, etc.
Network of garages
You should also check the insurance company’s network of garages and ensure there is a reliable one near you. This will make it convenient if you want to opt for a cashless claim.
Read the policy terms and conditions carefully
This is a crucial part in the policy buying process. Read the policy document carefully to understand the extent of coverage, inclusions, exclusions, add-ons, claim settlement process, and other terms and conditions. Clarify every doubt or concern with the insurer before signing the policy document.
Key Takeaway
- Investing in a Motor Insurance plan is necessary and advantageous.
- There are primarily three types of Motor Insurance policies to choose from – Own Damage, Third Party Liability, and Comprehensive Insurance Plan.
- You can opt between cashless claims and reimbursement claims.
- Make a note of the various inclusions and exclusions; they determine your insurance premium, and subsequently, the coverage offered.
- Also consider adding necessary or useful add-ons to your insurance policy to enhance protection.
FAQs – Frequently Asked Questions
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How to buy Motor Insurance ?
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What are the documents required to buy a Motor Insurance plan ?
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How can you make insurance premium payments ?
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Can you buy insurance for old vehicles as well ?
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How to raise an Insurance claim ?
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You agree that Facilities Provider / ABC Companies has no liability, obligation or responsibility for any such correspondence, purchase or promotion between you and any other ABC Companies and/or third parties.
Third party websites
This Website may be linked to other websites (including those of ABC Companies) on the World Wide Web that are not under the control of or maintained by ABCL. Such links do not indicate any responsibility or endorsement on our part for the external website concerned, its contents or the links displayed on it. These links are provided only as a convenience, in order to help you find relevant websites, facilities and/or products that may be of interest to you, quickly and easily. It is your responsibility to decide whether any facilities and/or products available through any of these websites are suitable for your purposes. The Facilities Provider or ABCL is not responsible for the owners or operators of these websites or for any goods or facilities they supply or for the content of their websites and does not give or enter into any conditions, warranties or other terms or representations in relation to any of these or accept any liability in relation to any of these (including any liability arising out of any claim that the content of any external web site to which this web site includes a link infringes the intellectual property rights of any third party).
USE of APP
In case any facilities/services, access/dissemination of information or execution of transaction is done through use of any APP related to ABC Companies, the additional terms and conditions governing the Use of APP shall be applicable and to be read along these Terms of Use.
Postings and monitoring
The Facilities Provider or ABCL or ABC Companies does not routinely monitor your postings to the Website but reserves the right to do so if deemed necessary if it is related to the facilities offered on the web site and to comply with law. However, in our efforts to promote good citizenship within the internet community, if the Facilities Provider or ABCL or ABC Companies becomes aware of inappropriate use of the Website or any of its facilities, any information, opinions, advice or offers posted by any person or entity logged in to the Website or any of its associated sites is to be construed as public conversation only, and the Facilities Provider or ABC Companies shall not be liable or responsible for such public conversation. You agree that in such cases, we will respond in any way that, in our sole discretion, as deemed appropriate. You acknowledge that Facilities Provider or ABC Companies will have the right to report to law enforcement authorities any actions that may be considered illegal, as well as any information it receives of such illegal conduct. When requested, ABC Companies/Facilities Provider will co-operate fully with law enforcement agencies in any investigation of alleged illegal activity on the internet.
Submissions and unauthorized use of any Materials contained on this Website may violate copyright laws, trademark laws, the laws of privacy and publicity, certain communications statutes and regulations and other applicable laws and regulations. You alone are responsible for your actions or the actions of any person using your user name and/or password. As such, you shall indemnify and hold Facilities Provider, ABCL / ABC Companies and its officers, directors, employees, affiliates, agents, licensors, and business partners harmless from and against any and all loss, costs, damages, liabilities, and expenses (including attorneys' fees) incurred in relation to, arising from, or for the purpose of avoiding, any claim or demand from a third party that your use of the Website or the use of the Website by any person using your user name and/or password (including without limitation your participation in the posting areas or your submissions) violates any applicable law or regulation, or the rights of any third party.
We reserve the right to terminate access to this Website at any time and without notice. Further this limited license terminates automatically, without notice to you, if you breach any of these Terms of Use. Upon termination, you must immediately destroy any downloaded and printed Materials.
If you come across any breaches/violation or offensive material you must report to us at abc.secretarial@adityabirla.com
Use of Cookies
You agree and understand that the Website will automatically receive and collect certain anonymous information in standard usage logs through the Web server, including computer/computer resource-identification information obtained from "cookies" sent to your browser from a web server or other means as explained in the Privacy Policy.
Facilities Changes and Discontinuation
The Website reserves the right to discontinue or suspend, temporarily or permanently, the facilities. You agree that the Facilities Provider/ ABC Companies will not be liable to you in any manner whatsoever for any modification or discontinuance of the facilities. The format and content of this Website may change at any time. We may suspend the operation of this Website for support or maintenance work, in order to update the content or for any other reason.
ABCL, ABC Companies, and its directors, employees, associates, or other representatives shall not be liable for any damages or injury, arising out of or in connection with the use, or non-use including non-availability of the Website and also for any consequential loss or any damages caused because of non-performance of the system due to a computer virus, system failure, corruption of data, delay in operation or transmission, communication line failure, or any other reason whatsoever. The Website will not be responsible for any liability arising out of delay in providing any information on the Website.
Compliance with the Law
You agree that you will not:
- Use any robot, spider, scraper, deep link or other similar automated data gathering or extraction tools, programme, algorithm or methodology to access, acquire, copy or monitor the Website, or any portion of the Website.
- Use or attempt to use any engine, software, tool, agent, or other device or mechanism (including without limitation, browsers, spiders, robots, avatars or intelligent agents) to navigate or search the Website, other than the search engines generally available by third party web browsers
- Post or transmit any file which contains viruses, worms, Trojan horses or any other contaminating or destructive features, or that otherwise interferes with the proper working of the Website or the facilities.
- Attempt to decipher, decompile, disassemble, or reverse engineer any of the software, comprising or in any way making up a part of the Website or the facilities.
- You agree not to use the facilities for illegal purposes or for the transmission of material that is unlawful, harassing, libelous (untrue and damaging to others), invasive of another's privacy, abusive, threatening, or obscene, or that infringes the rights of others.
Restrictions on Commercial Use or Resale
Your right to use the facilities is personal to you; therefore, you agree not to resell or make any commercial use of the facilities. In addition, the Website welcomes your feedback as a user of the facilities. Any feedback you provide will become the confidential and proprietary information of the Website, and you agree that the Website may use in any manner and without limitation, all comments, suggestions, complaints, and other feedback you provide relating to the Website. The Website shall have a worldwide, royalty-free, non-exclusive, perpetual, and irrevocable right to use feedback for any purpose, including but not limited to incorporation of such feedback into the Website or other Website software or facilities.
No Endorsements
All product and facilities marks contained on or associated with the facilities that are not the Website marks are the trademarks of their respective owners. The Website would require you to respect the same. References to any such names, marks, products or facilities of third parties or hypertext links to third party sites or information does not imply the Website’s endorsement, sponsorship or recommendation of the third party, information, product or facilities.
Promotional Offers
You may receive from time to time, announcement about offers with intent to promote this Website and/or facilities/products of ABC Companies (“Promotional Offers”). The Promotional Offer(s) would always be governed by these Terms of Use plus certain additional terms and conditions, if any prescribed. The said additional terms and conditions, if prescribed, would be specific to the corresponding Promotional Offer only and shall prevail over these Terms of Use, to the extent they may be in conflict with these Terms of Use. The Website reserves the right to withdraw, discontinue, modify, extend and suspend the Promotional Offer(s) and the terms governing it, at its sole discretion.
Charges for use of Website
There are no charges or fees to be paid by you for use of this Website. However, you are responsible for all telephone access fees and/or internet service fees that may be assessed by your telephone and/or internet service provider. You further agree to pay additional charges, if any levied by Third Party Service Provider(s), for the facilities provided by them through the Website (Additional Charges).
No Endorsement
You are advised to be cautious when browsing on the internet and to use good judgment and discretion when obtaining information or transmitting information. From this Website, users may visit or be directed to third party web sites. The Website makes no effort to review the content of these web sites, nor is the Website or its licensors responsible for the validity, legality, copyright compliance, or decency of the content contained in these sites.
In addition, the Website does not endorse or control the content of any other user and is not responsible or liable for any content, even though it could be unlawful, harassing, libelous, privacy invading, abusive, threatening, harmful, vulgar, obscene or otherwise objectionable, or that it infringes or may infringe upon the intellectual property or other rights of another. You acknowledge that the Website does not pre-screen content, but that the Website will have the right (but not the obligation) in their sole discretion to refuse, edit, move or remove any content that is available via the facilities.
Electronic Communications
These Terms of Use and any notices or other communications regarding the Facilities may be provided to you electronically, and you agree to receive communications from the Website in electronic form. Electronic communications may be posted on the Website and/or delivered to your registered email address, mobile phones etc either by Facilities Provider or ABC Companies with whom the services are availed. All communications in electronic format will be considered to be in "writing". Your consent to receive communications electronically is valid until you revoke your consent by notifying of your decision to do so. If you revoke your consent to receive communications electronically, the Facilities Provider shall have the right to terminate the facilities.
Assignment
You shall not assign your rights and obligations under this Agreement to any other party. The Website may assign or delegate its rights and/or obligations under this Agreement to any other party in future, directly or indirectly, or to an affiliated or group company.
Legal Disclaimers
The information provided on or through the Website is for general guidance and information purposes only and they do not in any manner indicate any assurance or opinion of any manner whatsoever. Any information may be prone to shortcomings, defects or inaccuracies due to technical reasons. Certain information on Website may be on the basis of our own appraisal of the applicable facts, law and regulations in force at the date hereof.
The information (and opinions, if any) contained on the Website may have been obtained from public sources believed to be reliable and numerous factors may affect the information provided, which may or may not have been taken into account. The information provided may therefore vary (significantly) from information obtained from other sources or other market participants. Any reference to past performance in the information should not be taken as an indication of future performance. The information is dependent on various assumptions, individual preferences and other factors and thus, results or analyses cannot be construed to be entirely accurate and may not be suitable for all categories of users. Hence, they should not be solely relied on when making investment decisions. Your investment or financial decision shall always be at your own discretion and based on your independent research; and nothing contained on the Website or in any information would construe ABCL/ABC Companies or any of its employees/authorized representative as having been in any way involved in your decision making process. Any information and commentaries provided on the Website are not meant to be an endorsement or offering of any stock or investment advice.
Nothing contained herein is to be construed as a recommendation to use any product, process, equipment or formulation, in conflict with any patent, or otherwise and Facilities Provider / ABCL/ABC Companies makes no representation or warranty, express or implied that, the use thereof will not infringe any patent, or otherwise. Information on this Website sourced from experts or third party service providers, which may also include reference to any ABCL Affiliate. However, any such information shall not be construed to represent that they belong or represent or are endorsed by the views of the Facilities Provider or ABC Companies. Any information provided or sourced from ABCL Affiliate belongs to them. ABCL is an independent entity and such information from any ABCL Affiliate are not in any manner intended or to be construed as being endorsed by ABCL or Facilities Provider. The information does not constitute investment or financial advice or advice to buy or sell, or to endorse or solicitation to buy or sell any securities or other financial instrument for any reason whatsoever. Nothing on the Website or information is intended to constitute legal, tax or investment advice, or an opinion regarding the appropriateness of any investment or a solicitation of any type. Investment in the securities market and any financial instruments are inherently risky and you shall always assume complete and full responsibility for the outcomes of all the financial or investment decisions that you make, including but not limited to loss of capital. You are therefore advised to obtain your own applicable legal, accounting, tax or other professional advice or facilities before taking or considering an investment or financial decision.
No Solicitation
No Information at this Website shall constitute an invitation to invest in ABCL or any ABC Companies. These are meant for general information only or to meet statutory requirements or disclosures. ABCL or any of its employees are in no way liable for the use of the information by you, when making any decision or investing or trading through any investment vehicles or ABC Companies, or any other third party which may be engaged in offering of these services.
The information contained on this Website does not represent and should not be used to construe (i) the terms on which a new transaction would be entered into by ABCL or ABC Companies, (ii) the terms on which any existing transactions could be unwound by ABCL or ABC Companies, (iii) the calculation or estimate of an amount that would be payable following an early termination of any past/existing transactions or (iv) the valuations given to any transactions by ABCL or ABC Companies in their books of account for financial reporting, credit or risk management purposes.
Statutory Disclosure
ABCL and ABC Companies are engaged in a broad spectrum of activities in the financial services sectors. You understand and acknowledge that Aditya Birla Money Limited (‘ABML’), Aditya Birla Finance Limited (‘ABFL’) and Aditya Birla Sun Life Asset Management Company Limited and trustees and sponsor of Aditya Birla Sun Life Mutual Fund (‘ABSLMF’) are group companies and ABML / ABFL also acts as a distributor of ABSLMF. Any recommendation or reference of schemes of ABSLMF if any made or referred on the Website, the same is based on the standard evaluation and selection process, which would apply uniformly for all mutual fund schemes. You are free to choose the execution facilities in the manner deemed fit and proper and no commission will be paid by ABSLMF to ABML / ABFL if you choose to execute a transaction with ABSLMF on the Website, unless otherwise agreed by you and ABML/ABFL separately. Information about ABML/ABFL, its businesses and the details of commission structure receivable from asset management companies to ABML/ABFL, are also available on their respective Website.
Similarly Aditya Birla Money Insurance Advisory Services Limited and Aditya Birla Insurance Brokers Limited are insurance intermediaries and engaged in the distribution of Insurance Products and it may services may include products of Aditya Birla Sun Life Insurance Company Limited and Aditya Birla Health Insurance Company Limited. However there is no conflict on these services and commissions if any payable are in accordance of the extant regulations.
Force Majeure
The Facilities Provider, ABC Companies and any of its Third Party Service Providers shall not be liable for any delay or failure in performance resulting directly or indirectly from acts of nature, forces, or causes beyond their reasonable control, including, without limitation, Internet failures, computer equipment failures, telecommunication equipment failures, other equipment failures, electrical power failures, strikes, virus, other malicious computer code, hacking, labour disputes, riots, insurrections, civil disturbances, shortages of labour or materials, fires, flood, storms, explosions, acts of God, war, earthquake, governmental actions, orders of domestic or foreign courts or tribunals, non-performance of third parties, or loss of or fluctuations in heat, light, or air conditioning.
Indemnification
You agree to protect and fully compensate Facilities Provider, ABCL, ABC Companies, subsidiaries, licensors, suppliers and facilities providers, employees, officers and directors, from any and all third party claims, liability, damages, expenses and costs (including but not limited to reasonable attorneys fees) caused by or arising from your use of the facilities, your violation of the Terms of Use or your infringement, or infringement by any other user of your account, of any intellectual property or other right of anyone.
No Waiver
The Facilities Provider, ABC Companies or any of its third party service providers and processor bank/merchants etc. shall not be deemed to have waived any of its/their rights or remedies hereunder, unless such waiver is in writing. No delay or omission on the part of Facilities Providers and ABC Companies, in exercising any rights or remedies shall operate as a waiver of such rights or remedies or any other rights or remedies. A waiver on any one occasion shall not be construed as a bar or waiver of any rights or remedies on future occasions.
Exclusive Agreement
You agree that these Terms of Use are the complete and exclusive statement of agreement supersede any proposal or prior agreement, oral or written, and any other communications between you and the Facilities Provider and its Third Party Service Providers or processor bank/merchants relating to the subject matter of these Terms of Use. These Terms of Use, as the same may be amended from time to time, will prevail over any subsequent oral communications between you and the Website and/or the processor bank.
Termination
Either party can terminate this Agreement by notifying the other party in writing. Upon such termination You will not be able to use the facilities of this Website.
Governing Law and Jurisdiction
The Website specifically prohibits you from usage of any of its facilities in any countries or jurisdictions that do not corroborate to all stipulations of these Terms of Use. The Website is specifically for users in the territory of India. In case of any dispute, either judicial or quasi-judicial, the same will be subject to the laws of India, with the courts in Mumbai having exclusive jurisdiction.
These Terms and Conditions are governed by and to be interpreted in accordance with laws of India, without regard to the choice or conflicts of law provisions of any jurisdiction. You agree, in the event of any dispute arising in relation to these Terms and Conditions or any dispute arising in relation to the Website whether in contract or tort or otherwise, to submit to the jurisdiction of the courts located at Mumbai, India for the resolution of all such disputes.
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