Excluded from coverage are instances of regular wear and tear, operating a vehicle under the influence, driving without a valid license, intentional damage, and damage arising from war or war-like situations.

A cover note is a provisional insurance certificate provided by the insurer once the insured submits a completed proposal form and pays the full premium, preceding the formal issuance of a policy. Valid for 60 days from its issuance, the cover note requires the insurer to issue the Certificate of Insurance before its expiration date.

IDV stands for Insured's Declared Value. It represents the calculated value of a vehicle, determined by adjusting the current manufacturer's listed selling price with a depreciation percentage as specified in the Tariff. In the case of vehicles that are obsolete and over 5 years old, the IDV is determined through mutual agreement between the Insurer and the Insured.

Motor policies are generally issued for a twelve-month duration. However, an extension for a period less than 12 months may be granted with the approval of the competent authority. This extension could be to synchronize renewals on a common date or for other reasons that benefit the customer. Additional premium is required for such extensions, and periods less than 12 months can be approved on a Short Period basis only with the competent authority's approval.