Motor Insurance

Drive with Confidence – Pioneer Insurance Company Provides comprehensive motor insurance policies to protect your vehicle against accidents, theft, and damage. With our reliable coverage, you can drive on the road with peace of mind, knowing that you're financially protected.

Motor Cycle Comprehensive coverage is provided for the following types of vehicles:

• Private Vehicle

• Commercial Vehicle

• Motor Cycle

Comprehensive insurance :

A fully loaded policy to provide you with protection for your car against unexpected accidental damages in addition to third party liability. The Private Car Package Policy covers you against any loss or damage caused to your vehicle or its accessories due to the following natural and manmade calamities:

Natural Calamities:
Fire, explosion, self-ignition or lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide, rockslide.

Man made Calamities:
Burglary, theft, riot, strike, malicious act, accident by external means, terrorist activity, and any damage in transit by road, rail, inland waterway, lift, elevator or air.

Exclusions:

Please note, while every effort is made to give you the best possible services any loss/damage to the vehicle and/or its accessories will be not be covered if caused by the following:

• Normal wear, tear and general ageing of the vehicle

• Depreciation or any consequential loss

• Mechanical / electrical breakdown

• Vehicle being used otherwise than in accordance with limitations as to use

• Damage to / by a person driving the vehicle without a valid license

• Damage to / by a person driving the vehicle under the influence of drugs or liquor

• Loss / damage due to war, mutiny or nuclear risk

• Use of Motor vehicle in violation of Limitation As To Use clause mentioned in the Policy

MOTOR INSURANCE POLICY

Description of Motor Insurance Business:
Motor Insurance: Different types or policies may be issued for different types of motor vehicles, Motor vehicles are usually classified in the following manner:- Private Cars, Commercial vehicles, Motor Cycles, Agricultural vehicles, Motor Trade vehicles.

Motor policies issued are usually of the following types irrespective of the class of vehicles:
a) Comprehensive policy
b) Act liability only policy.

Definition of private vehicle:

The Vehicles under private registration & used for private purposes only.

Direct risks covered under private motor comprehensive insurance policy
Fire, explosion, burglary and theft, riot & civil commotion, earthquake, flood & cyclone, storm, any type of accidental loss and Act liability (Life & property)

Definition of commercial vehicle:

The vehicle used for hire or reward and which are not provided for under the scope of private vehicle or motor cycle and registered as commercial vehicle.

Direct risks covered under commercial motor comprehensive insurance policy
Fire, explosion, burglary and theft, riot & civil commotion, earthquake, flood & cyclone, storm, any type of accidental loss and Act liability (Life & property)

In addition in respect of a commercial vehicle which is used for carriage of passenger for hire or reward and in respect of which legal liability to passenger is required to be covered in terms of the motor vehicles Act 1991 is subject to additional premium (Passenger risk coverage is compulsory) of liability to passenger in accordance with the premium of the motor tariff

Commercial Vehicle Insurance:

Commercial Vehicle Insurance provides protection against financial losses resulting from accidental damages to the vehicle. This type of insurance is specifically designed for commercial vehicles, including trucks, taxis, buses, and autos. In the event of accidents such as fire, burglary, theft, or external explosions causing damage to the insured vehicle, the insurance company provides compensation.

Comprehensive Policy (Coverage):

A comprehensive policy provides coverage for the following:

1. Damage caused by fire, explosion, self-ignition, or lightning.

2. Loss or damage resulting from burglary, house-breaking, or theft.

3. Coverage for riot, strike, including malicious and terrorist activities.

4. Protection against damage caused by earthquakes, including fire and shock damage.

5. Loss or damage due to floods, typhoons, hurricanes, storms, inundation, cyclones, hailstorms, frost, or tempest.

6. Coverage for accidental damage caused by external means.

7. Protection while the insured item is in transit, whether by road, rail, inland waterway, lift, elevator, or air.

8. Liability insurance coverage for legal obligations arising from the insured item's actions.

Motor Cycle Insurance

Pioneer Insurance Company Provides comprehensive and reliable motorcycle insurance coverage to ensure the protection and peace of mind for motorcycle owners. With our specialized motor cycle insurance policies, we offer a range of benefits and features tailored to meet the unique needs of riders in Bangladesh.

Our motorcycle insurance policies cover various risks and perils that riders may face on the roads. We provide coverage for damages caused by accidents, including collision, overturning, or damage due to a third party. In addition, we offer protection against theft and burglary, giving riders the confidence that their valuable asset is safeguarded.

EXCLUSIONS:

Please be aware that while we strive to provide you with the best possible services, the following situations will not be covered for loss or damage to the vehicle and/or its accessories:

• Normal wear, tear, and general aging of the vehicle.

• Depreciation or any consequential loss.

• Mechanical or electrical breakdown.

• Use of the vehicle in a manner not in accordance with the limitations as specified.

• Damage caused by a person driving the vehicle without a valid license.

• Damage caused by a person driving the vehicle under the influence of drugs or alcohol.

• Loss or damage due to war, mutiny, or nuclear risks.

• Use of the motor vehicle in violation of the Limitation as To Use clause mentioned in the policy.

Documents Required:

When purchasing a new policy, you will need to provide a completed proposal form with relevant details, along with a copy of the vehicle's registration certificate.

For policy renewal, you will be required to submit a completed proposal form with updated details, a copy of the previous policy document, and the vehicle's registration certificate (RC).