Old Car Comprehensive
Introduction
Our Old Car Comprehensive Insurance provides reliable coverage for vehicles older than 5 years.
We offer a minimum premium rate of 1.50% of the Insured Estimated Value (IEV), making it an affordable solution for older private cars.
Covers
Loss or Damage to the Vehicle
- Accidental external means
- Fire, external explosion, self-ignition, lightning and frost
- Burglary, housebreaking and theft
- Malicious act
- Riot and strike damage
- Flood, hail, wind, hurricane, cyclone, tornado and typhoon damages
- Earthquake, volcanic eruption or other convulsion of nature
- Risk while in transit by air, road, rail, inland waterway, lift or elevator
- Transport of motor car to nearest workshop in case it breaks down (Subject to Rs. 500 limit)
- In the event of motor car being disabled by reason of loss or damage:
- The reasonable cost of protection and removal to the nearest repairer should not exceed Rs. 500
- The company should be provided a detailed estimate of the costs incurred
Third Party Liability
- Death or bodily injury to a third party (except for the person employed by the Insured)
- Damage to property of a third party (except for property held in trust or custody by the Insured)
- Indemnity to any person driving on Insured’s order/permission given that he is not entitled to indemnity under any other insurance
- Indemnity to the Insured even when driving a vehicle not belonging to him and not hired under hire purchase agreement
- In case of death of a third party, the company will indemnify the deceased’s personal representatives in terms of the policy
Medical Expenses
The company will pay medical expenses not exceeding Rs. 350 in case of accidental bodily injury.
Conditions
- Immediate notice to the company in case of a claim
- Immediate notice to the police in case of theft
- Loss of original excise duty and taxation papers must be informed within 48 hours
- Cancellation by the company or the Insured on 7 days notice with return of premium on pro rata basis
Key Terms
| Key Terms | Details |
|---|---|
| Net Premium | 1.50% of Insured Estimated Value (IEV) |
| Vehicle Age | Older than 5 years |
| Maximum Sum Covered | 3.5 Million |
| Vehicle Type | Private |
Product Benefit Table
| Add-Ons | Amount (PKR) |
|---|---|
| Personal Accident to Paid Driver | 500 /- |
| Personal Accident to Passengers (4 passengers excluding driver) | 900 /- |
Exclusions
Pre-existing medical conditions and any deductibles that apply to the policy.
Unattended passports, including those left in vehicles or with carriers, unless secured in a hotel safe, safety deposit box, or locked accommodation.
Unreported passport loss or theft — incidents not reported to the police, embassy, consulate, or issuing authority within 24 hours of discovery.
Loss or damage caused by authorities, including delays, confiscation, or detention by customs or other official bodies.
Fines, penalties, or punitive damages of any kind.
Costs related to passport renewal.
Claims arising from war, invasion, or terrorism.
For a complete list of exclusions, please review the full policy wording.