The sum insured for the vehicle is called "insured's declared value" and should reflect the current market value of the vehicle. Under liability insurance, third party liability insurance is covered. There is unlimited coverage to third parties injury and third party property damage is covered up to a sum of Rs 7,50,000.

 

The insured has the option to restrict coverage for third party property damage to Rs 6,000 and this will result in a lower "liability only" premium.