The following events or losses are not covered in this policy:
• Mechanical/ Electrical breakdown
• Wear and tear, ageing of vehicle
• Consequential loss*
• Depreciation
• Deliberate accidental loss
• Intoxicated driving
• Any contractual liability
• Damage to/ by a person driving any vehicles or cars without a valid license
* Consequential loss is an indirect loss, which is not directly resulting out of a loss event, but arising as a consequence of loss event. For example, Mr. Singh was on his way to office for an important meeting with client. Unfortunately, his vehicle met with a road accident resulting in damages to vehicle and it consumed lot of his time. Due to this, he could not attend the meeting resulting in loss of approx ₹15 lakh. Damages to vehicle due to the accident are covered however, but the loss of ₹15 lakh is consequential and hence not covered.
For details, kindly refer to the Two-wheeler Policy Wordings.