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Damages to the vehicle while it was outside the geographical area specified in the policy.Damages to the vehicle when driving under the influence of drugs and alcohol.The normal wear and tear of the vehicle with age and depreciation in its value.The following incidents are not offered coverage under the third-party liability plan from United India Insurance: What Is Not Covered Under The Third-party Liability Plan? This is also referred to as personal accident cover for the owner-driver. The plan protects the owner-driver of the insured car from injuries and death in an accident.It protects the policyholder from legal liability to third parties for injuries, death, or property damage.The third-party liability plan from United India Insurance offers the following coverage: What Does The Third-party Liability Plan Cover? The nature of hazards can be varied and financial fallouts can prove to be expensive not to mention the inconvenience that one has to bear in the absence of a necessary vehicle. It is always advisable to opt for comprehensive packages since it is impossible to tell what kind of events can lead to losses. The company offers ‘third-party liability only’ covers as well as comprehensive packages.
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Cars, being an expensive asset, can be the subject of situations that give rise to unpredictable financial setbacks. Subject to provisions, passengers and paid employees are also included in the scope of the contract. It is a form of personal insurance, usually included in the product portfolio of general insurance companies that aims to safeguard the financial interests of motorists with insurable interest in automobiles used for private purposes. Own-damage policies are optional but by availing a comprehensive policy one can ensure all-round protection.It is also more economical to have an all-in-one package than having separate indemnity contracts. As mandated by law, all vehicles plying on Indian roads have to have third-party insurance. It is required by all those who intend to drive in the country. The following kinds of insurance are offered to customers: Fire, Health, Motor, Marine, Industrial, Liability, Credit, and Micro Insurance. The company also boasts one of the most diversified product portfolios with solutions that provide coverage for assets ranging from livestock to satellites. It has an extensive reach with 1,340 offices servicing clients in urban, semi-urban and rural areas. Ltd., formed in 1938 and nationalised in 1972, is one of India’s oldest insurance companies. On 2 February 2018, the Government of India announced merger of United India Insurance Company with Oriental Insurance and National Insurance Company Limited.United India Insurance Co. The Gross Domestic Premium for the Financial Year 2019–20 is Rs. United India has also been the pioneer in taking Insurance to the rural masses with large scale implementation of Universal Health Insurance Programme of Government of India & Vijaya Raji Janani Kalyan Yojana (covering 4.5 million women in the state of Madhya Pradesh), Tsunami Jan Bima Yojana (in 4 states covering 459,000 of families), National Livestock Insurance and many such schemes. United India has been in the forefront of designing and implementing complex covers to large customers, as in the cases of ONGC Ltd, GMR - Hyderabad International Airport Ltd., Mumbai International Airport Ltd., Tirumala-Tirupati Devasthanam, Kochi Metro Rail Corporation etc. The Company has a variety of insurance products to provide insurance cover from bullock carts to satellites. Īfter nationalization, United India has 14,322 number of workforce spread across 2,248 offices providing insurance cover to more than 10 million policy holders. Twelve Indian insurance companies, four co-operative insurance societies, five foreign insurers with Indian operations and the general insurance operations of the southern region of Life Insurance Corporation of India were merged with United India Insurance Company Limited to form the company. But when GIC became a re-insurance company as per the IRDA Act 1999, its four primary insurance subsidiaries New India Assurance, United India Insurance, Oriental Insurance and National Insurance got autonomy, with effect from March 21, 2003. Previously it was a subsidiary of the General Insurance Corporation of India (GIC). It was incorporated on 18 February 1938, and nationalised in 1972. It is under the ownership of Ministry of Finance, Government of India. United India Insurance Company is a leading Indian nationalised general insurance company.