(a) Types of policies in motor insurance are:
(i) Private motor
(ii) Commercial vehicle
(iii) Motor cycle
(iv) Motor trade
(v) Agricultural and forestry vehicle
(vi) Special types.
(b) The scope of cover in motor insurance are:
(i) 'Act' only
(ii) Third party only
(iii) Third party, fire and theft
(iv) Comprehensive.
(i) Act' Only:- This is the cover that provides protection against third-party bodily injury or death. only.
(ii) Third Party Only:- This cover provides indemnity (indemnity) to third parties for both death or bodily injury and property damage.
(iii) Third Party, Fire and Theft:- This covers loss of ot damage to the insured vehicle and or accessories as a result of fire, or theft as well as compensation for bodily injury or death of third party and third party property damage.
(iv) Comprehensive:- This is generally the widest scope of cover available under Motor Insurance. It provides cover against loss of or damage to the insured vehicle and/or its accessories arising from accidental collision or overturning, mechanical breakdown or by fire of theft as well as the insured's legal Liability towards third parties. .