Motor-insurance surveyor knowledge library

Zero Depreciation (Nil Dep) No depreciation is deducted on replaced parts (plastic, rubber, fibre, glass, nylon). IMT-23 (Depreciation Waiver on Specified Parts) A tariff endorsement that lowers depreciation on specified parts — notably fibre-glass components become NIL depreciatio Engine Protection Internal engine / gearbox damage from water ingress, hydrostatic lock, or leakage of lubricating oil / coolant — NOT pay Consumables Cover Nuts, bolts, screws, washers, clips, grease, engine/gear/brake/AC oil, coolant, distilled water, bearings, lubricants us Tyre & Rim Protect Accidental damage to tyres, tubes and alloy / steel rims (replacement + balancing). Key & Lock Protect Replacing lost / stolen / damaged keys, the lock-set and remote, plus locksmith charges. Return to Invoice (RTI) On Total Loss / CTL / theft, pays the original invoice value (or current replacement + first-registration + road tax) in NCB Protection Protects the earned No-Claim Bonus even after a limited number of claims. Roadside Assistance (RSA) Towing, minor on-spot repair, fuel, flat-tyre help, battery jump-start, taxi / hotel assistance. Loss of Personal Belongings Loss of or damage to personal belongings inside the vehicle during an accident or theft. Daily Allowance / Conveyance A fixed daily amount (or courtesy vehicle) while the vehicle is under admissible repair beyond a free period. Emergency Medical Expenses Emergency medical expenses of the driver / occupants after an accident. Compulsory PA — Owner-Driver (₹15 L) Statutory ₹15 lakh Personal Accident cover for the registered owner-driver, mandatory under IRDAI unless the owner holds PA — Passengers / Unnamed Occupants Personal Accident cover for the paying passengers / unnamed occupants in the vehicle at the time of accident, up to the Paid Driver Cover (PA + Legal Liability) PA and legal-liability cover for the paid / hired driver as prescribed under the Workmen Compensation Act (and successor EMI / Loan Payment Protect Pays a fixed number of monthly EMIs on the vehicle loan while the vehicle is under admissible repair beyond a free perio Spare / Replacement Car (Courtesy Vehicle) A courtesy vehicle (same / similar segment) for use while the insured vehicle is under admissible repair beyond a free p Preferred Garage / Garage of Choice Lets the insured choose any garage (even outside the insurer's network) for an admissible repair without a labour-rate p Pay As You Drive (PAYD / Km Slabs) A usage-based pricing model — the Own-Damage premium is linked to the declared km slab (typically 2,500 / 5,000 / 7,500 Pay How You Drive (PHYD / Telematics) A telematics-based pricing model — a device / app tracks driving behaviour (speed, braking, cornering, time-of-day) and EV Battery Protect / EV Shield (Battery) Damage to the high-voltage traction battery of an EV from external accident, water ingress or short-circuit — NOT the st EV Charger / Cable Cover Loss of or damage to the EV's home-use / portable charger and the associated cable due to fire, theft or external accide EV Charging Station Damage Damage to a wall-box / charging point at the insured address caused by fire, theft or external accident. CNG / LPG / Bi-fuel Kit Cover Own-Damage cover for the aftermarket CNG / LPG / bi-fuel kit (cylinder + regulator + wiring) separately declared with su Imported Spare Parts Cover Pays the extra cost of genuine imported spare parts (over the standard India-sourced equivalent) when such a part is req Windshield / Windscreen Standalone Cover Standalone cover that pays for windshield / windscreen replacement WITHOUT affecting the main policy's NCB slab on renew Outstation Emergency / Trip Benefit A bundled benefit when a breakdown / accident occurs beyond a set distance from the insured address — covers towing, hot

Rodent / Rat Bite Damage Rodent gnawing to wiring harness, insulation, upholstery, hoses, under-bonnet plastic trim and sound-deadening pads caus Dog Bite / Scratch Damage Scratches, bite marks and panel dents to body panels, bumpers, running boards, seats and door-trim caused by a dog (stra Monkey / Primate Damage Damage to wiper arms, side mirror housings, antennae, rubber trims, wind deflectors, roof-rack covers and soft-top mater Bird Strike / Bird Nest Damage Panel dent, windscreen crack or paint damage from a bird strike while the vehicle was in motion; and damage to engine-ba Snake / Reptile in Engine Bay Damage to wiring, hoses, insulation and plastic covers in the engine bay from a snake or lizard that has entered the veh Hornet / Wasp / Bee Hive Damage Panel or paint damage from acidic bee / hornet discharge; interior corrosion or wiring damage from a wasp nest built ins

Fire, Explosion, Self-Ignition, Lightning Loss or damage to the vehicle (and its accessories while fitted) by fire, external explosion, self-ignition from an elec Flood / Inundation (Riverine, Urban Drainage, Dam Release) Submersion / water-ingress damage to the vehicle from riverine flood, urban drainage overflow, cloud-burst or controlled Cyclone, Storm, Tempest, Hurricane Impact damage to the body / glass / soft-top of the vehicle from a declared cyclone, named storm or severe tempest — inc Earthquake (Fire & Shock) Fire damage AND shock / structural damage to the vehicle resulting directly from an earthquake, including damage from fa Landslide / Rockslide / Avalanche Impact and crush damage to the vehicle from a landslide, rockslide, mud-slide, hill-side collapse or snow avalanche — co Hailstorm Dent damage to roof, bonnet, boot, body panels and windscreen caused by hailstones of accidental impact. Frost / Freezing Damage to the radiator, cooling system, washer bottle, pipes and body panels caused by freezing / frost in extreme-cold Theft / Burglary / Housebreaking (Vehicle, Parts, Battery) Theft of the entire insured vehicle, OR theft of parts / fitted accessories / battery / infotainment / wheel-rims from t Riot, Strike, Malicious Damage (RSMD) Damage to the vehicle from riot, strike, civil commotion, mob attack, or malicious act by a person other than the insure Terrorism Risk (Terrorism Add-on — post-2008 Pool) Loss of or damage to the insured vehicle caused directly by an act of terrorism as declared / recognised by the appropri Damage Whilst in Transit (Rail / Road / Air / Inland Waterway) Loss or damage to the vehicle whilst in transit by road, rail, inland waterway, lift, elevator or air — e.g. a car being Self-Ignition (Electrical / Fuel-System Fault) Fire damage to the vehicle originating from an internal electrical short-circuit, over-heating of wiring, fuel-line leak

Total Loss / Constructive Total Loss (CTL) — Formula Treatment of a claim as a Total Loss (TL) or Constructive Total Loss (CTL) when the vehicle is beyond economic repair. S Salvage Valuation (BAV / Fair-Wreck / Scrap-Quote) The method for determining the salvage / wreck value of a TL / CTL vehicle so the insurer can either sell it to the insu Depreciation Schedule (IMT / IRDAI) The percentage of depreciation deducted on the cost of each replaced part at the time of claim settlement — governed by Compulsory Excess vs Voluntary Deductible The excess / deductible amount that is deducted from every admissible OD claim. Compulsory excess is prescribed by IRDAI Sec. 64-VB Compliance (Premium Realisation Before Loss) The statutory requirement under Sec. 64-VB of the Insurance Act, 1938 that the premium for the policy must be realised b Owner-Driver vs Anonymous Driver — CPA Validity The impact of who was driving at the time of loss. The ₹15 L Compulsory Personal Accident (CPA) cover is available only No-Claim Bonus (NCB) Continuity / Grace Period The accumulation of NCB (20% - 25% - 35% - 45% - 50% over 5 consecutive claim-free years), the loss of NCB on claim (rev Financier / Hypothecation Endorsement — Claim Payment Route The endorsement on the policy and the RC naming the bank / NBFC that financed the vehicle. On any claim settlement, the Fitness Certificate (Commercial Vehicle) — Validity on DOL The validity of the Fitness Certificate issued by the RTO under Sec. 56 of the MV Act, 1988. Fresh commercial vehicle fi Permit Validity (National vs State) — Impact on Claim The validity and territorial scope of the transport permit under Sec. 66 of the MV Act. A commercial goods / passenger v Modifications — CNG / LPG Kit, Roof-Carrier, Body-Alteration Any modification to the vehicle after original registration — aftermarket CNG / LPG / bi-fuel kit, roof-carrier / luggag Driving Licence — Class, Transport Endorsement, Learner Rules The requirement under Sec. 149 (and Sec. 3 - 10) of the MV Act that the person driving the insured vehicle at the time o

Private Vehicle — Permit Not Required (GVW threshold) A private, non-transport motor vehicle (private car, two-wheeler, personal jeep) does NOT require a transport permit und National Permit — Inter-State Goods Carriage (AITP, 15,000 kg GVW) A National Permit (NP / All-India Tourist-type for goods, authorised under Sec. 88(12) of the MV Act) issued to a goods State Permit — Within-State Goods / Passenger A state carriage permit issued under Sec. 66 r/w Sec. 72 (goods) or Sec. 74 (contract carriage) / Sec. 73 (stage carriag Contract Carriage Permit — Buses, Maxi-cabs, Chartered Buses A Contract Carriage Permit issued under Sec. 74 of the MV Act for a vehicle plying under a single contract for an agreed Stage Carriage Permit — Buses on Fixed Route / Fare A Stage Carriage Permit issued under Sec. 73 of the MV Act for a bus / mini-bus that carries passengers on a notified ro All-India Tourist Vehicle Permit (AITP) An All-India Tourist Vehicle Permit under Sec. 88(9) of the MV Act, read with the Central Motor Vehicles (All India Tour Light Goods Vehicle (LGV) Permit — GVW below 7,500 kg A goods-carriage permit for a Light Goods Vehicle (LGV / LCV) — GVW typically below 7,500 kg (classes like Tata Ace, Mah Medium Goods Vehicle (MGV) Permit — GVW 7,500 kg to 12,000 kg A goods-carriage permit for a Medium Goods Vehicle (GVW typically 7,500 kg to 12,000 kg — classes like Tata 1109, Eicher Heavy Goods Vehicle (HGV) Permit — GVW above 12,000 kg A goods-carriage permit for a Heavy Goods Vehicle (GVW typically above 12,000 kg — trucks, trailers, tippers, tankers of Temporary Permit — Max 4 Months, Specific Use A Temporary Permit under Sec. 87 of the MV Act, granted for a limited period not exceeding 4 months, for a specific use Special Permit — Occasional, Event-Specific A Special Permit granted under Sec. 88 of the MV Act for the occasional carriage of persons for a specific event (religi Authorization vs Permit — Rule 83 Annual Renewal (common confusion) Many surveyors treat "permit" and "authorization" as the same thing — they are NOT. The PERMIT is granted once (5 years

MCWOG — Motorcycle Without Gear (≤ 50 cc, mopeds) MCWOG class authorises the holder to drive a motorcycle WITHOUT gear — essentially mopeds and some electric two-wheelers MCWG — Motorcycle With Gear (geared 2W, > 50 cc) MCWG class authorises the holder to drive a motorcycle WITH gear and above 50 cc capacity — Hero Splendor, Bajaj Pulsar, LMV-NT — Light Motor Vehicle Non-Transport (private car / jeep up to 7,500 kg GVW) LMV-NT (also simply "LMV" in post-2016 practice) authorises the holder to drive a Light Motor Vehicle (private car, jeep LMV-T — Light Motor Vehicle Transport (post Mukund Dewangan + 2023 referral) LMV-T is the transport-vehicle authorisation on an LMV licence, enabling the holder to drive a commercial / fare-paying HMV — Heavy Motor Vehicle (all vehicles > 7,500 kg GVW) HMV is the umbrella heavy-motor-vehicle authorisation, covering any motor vehicle whose GVW exceeds 7,500 kg (and which HPMV — Heavy Passenger Motor Vehicle (bus, > 13 seats) HPMV authorises the holder to drive a Heavy Passenger Motor Vehicle — any passenger-carrying vehicle with more than 13 s HGMV — Heavy Goods Motor Vehicle (> 7,500 kg GVW goods) HGMV authorises the holder to drive a Heavy Goods Motor Vehicle — any goods carriage of GVW exceeding 7,500 kg (10T / 16 Hazardous Goods Driving Endorsement (PESO-trained, 1-yr refresher) A separate endorsement on a HGMV / HTV driving licence, authorising the holder to drive a vehicle carrying hazardous sub Transport Badge (RTO-issued, separate from DL class) The Transport Badge is an additional authorisation issued by the local RTO, separate from the Transport-endorsement on t Minimum Age & Experience by DL Class Minimum-age and prior-experience thresholds by DL class as prescribed under Sec. 4 and Rule 8 of the CMVR: MCWOG — 16 yr

Hazardous Goods Vehicle — Classification (CMVR Rule 9) A hazardous goods vehicle is any motor vehicle designed or used to carry a "hazardous substance" as defined in Rule 9 of Hazardous Goods Vehicle — Signage, Placard, UN Number Mandatory external signage on a hazardous goods vehicle under Rules 129-137 of the CMVR and Schedule-X of the Rules — ha Hazardous Goods Vehicle — Driver Qualifications (HGMV + Hazardous Endorsement + PESO training) The driver of a hazardous goods vehicle must hold (i) a HGMV / HTV Driving Licence, (ii) a specific "Hazardous Goods" dr Hazardous Goods Vehicle — Route Permit (PESO + MSIHC Rules 1989) A hazardous goods vehicle operates under a dedicated route-permit issued by the state Transport Authority under Sec. 66 Hazardous Goods Vehicle — Insurance Implications (OD & TP) The insurance implications of hazardous-goods carriage: (a) OD cover usually requires a specific "Carriage of Hazardous Hazardous Goods Vehicle — Pollution / PUC & Vehicle Age Limits A hazardous goods vehicle must comply with a stricter PUC regime under the CMVR and the Central / State Pollution Contro

IMT-1 — Vintage Car Cover A specific endorsement attaching the policy to a Vintage Car (manufactured on or before 31 December 1940, or as defined IMT-2 — Vehicle Laid-Up (storage / repair, pro-rata OD refund) Where the vehicle is withdrawn from use (laid up for repair, long-term storage, out-of-use beyond 30 days), IMT-2 allows IMT-5 — Reduction in TP Legal Liability An endorsement that reduces the Third-Party legal liability cover of the policy from the statutory unlimited (bodily inj IMT-7 — Depreciation Waiver on Specific Parts (pre-Zero-Dep era) The pre-2007 depreciation-waiver endorsement, now largely superseded by the modern Zero-Depreciation / Nil-Depreciation IMT-8 — Trailer Coupled to a Goods Carriage An endorsement extending the policy to a trailer or semi-trailer coupled to the insured goods carriage, with a specified IMT-14 — Driving Instruction (Private Car used for Driving School) An endorsement allowing a private car to be used by a professional driving-instruction school, with an additional premiu IMT-15 — Trailer / Semi-Trailer Detached An endorsement covering a trailer / semi-trailer against loss or damage while DETACHED from the drawing vehicle (parked, IMT-18 — Fibre-Glass Fuel Tank A specific endorsement allowing the vehicle to carry fuel in a fibre-glass fuel tank (as against the normal metallic / p IMT-19 — Private Car used for Non-Fare-Paying Passengers / Car-Pooling A private car policy normally excludes carriage of passengers for hire or reward. IMT-19 explicitly permits occasional n IMT-20 — Theft of Accessories Separately Insured An endorsement specifying a list of accessories (music system, LCD screens, custom alloy wheels, roof-rack, auxiliary la IMT-21 — Dep. Waiver on Lamps / Mudguards / Bonnet Side-Plates / Bumper / Windshield An endorsement waiving depreciation on a NAMED, LIMITED set of parts — lamp assemblies, mudguards, bonnet side-plates, b IMT-22 — Dep. Waiver on Doors / Bonnet / Dickey A tariff endorsement waiving depreciation on body panels — doors, bonnet, and dickey (boot-lid) — in the event of replac IMT-23 — Dep. Waiver on Specified Fibre-Glass Parts (standard broad) The widely recognised IMT-23 endorsement, which brings fibre-glass depreciation DOWN TO NIL (from the standard 30% / 50% IMT-27 — Burglary / Theft of Accessories while in the Car An endorsement extending the policy to cover accessories carried inside the vehicle (not fitted) against burglary / thef IMT-29 — Legal Liability to Employees (Passenger-Carrying) An endorsement extending the TP legal-liability cover to the insured's own paid employees travelling in the vehicle — co IMT-31 — Loss of Accessories (incl. Stereo / Music System) An older IMT endorsement covering loss of or damage to the vehicle's fitted stereo / music system / entertainment unit, IMT-33 — Fire Brigade Charges Reimbursement An endorsement reimbursing the fire-brigade charges / fire-tender call-out fees paid by the insured in a bona-fide fire IMT-34 — Return to Invoice (RTI) The IMT-tariff version of the Return-to-Invoice endorsement, under which, on a Total Loss / CTL / theft, the Company set IMT-35 — Hospital Cash / Medical Reimbursement A specified hospital-cash / per-day in-patient benefit, or a lump-sum medical-expenses reimbursement, for the insured an