PRODUCT DISCLOSURE SHEET
(Please read this Product Disclosure Sheet before you decide to take up the Commercial Vehicle Insurance. Be sure to also read the general terms and conditions.)
What is this product about ?
This product is to cover goods carrying vehicles and omnibuses.
This policy indemnifies you against your liabilities to third parties for injury or death, damage to third parties’ property, and accidental or fire damage to your vehicle or theft of your vehicle.
What are the covers / benefits provided ?
| Cover | Comprehensive Cover | Third Party Cover |
| Liabilities to Third Party for: • Injury • Death • Property Loss/Damage |
Yes | Yes |
| Loss/Damage to Own Vehicle due to Accident, Fire/Theft | Yes | No |
| Towing costs (Limit: USD500) caused by collision | Yes | No |
| Legal fees (Limit: USD1,500) | Yes | Yes |
| No Claim Discount (NCD) on next premium renewal | Yes | Yes |
| Liability to driver of own vehicle (Bodily Injury, Property, Death) | No | No |
Optional benefits you may wish to purchase optional benefits by paying additional premium:
- Flood (For comprehensive cover only)
- Strike, Riot and Civil Commotion Extension (For comprehensive cover only)
- Accident to Driver of your vehicle
Duration of cover is for one year. You need to renew the insurance cover annually.
How much premium do I have to pay?
The premium you have to pay may vary depending on tonnage or carrying capacity & age of your vehicle , no-claim-discount (NCD) entitlement, optional benefits required and our underwriting requirements.
The minimum premium per policy is USD52.50.
What is the payment mode and how do I pay the premium?
This is an annual policy and you may pay your premium either by cash, or cheque.
What are some of the key terms and conditions that I should be aware of ?
- Duty of Disclosure
- You must give all the facts which you know or ought to know.
- You must ensure that the proposal form is completed accurately as it forms the basis of the insurance contract.
• Under-insurance
If you insure your motor vehicle at a lower sum than its market value, you will be deemed as self-insured for the difference, i.e. in the event of loss/damage, you will only be partially compensated (up to the proportion of insurance) by your insurance company.
• Over-insurance
Should you insure your motor vehicle at a higher sum than its market value, the maximum compensation you will receive is the market value of the motor cycle as the policy owner cannot ‘profit’ from a motor insurance claim.
• Claims
In the event of an accident, please call our 24 hours claim hotline _ immediately and provide the following:
- Your name;
- Your motor vehicle registration number ; and
- Location of accident.
• Deductible/Excess
This is the amount you have bear before we indemnify you of a loss.
• Premium Warranty
Premium must be paid and received by us within 30 days from the inception date of the cover, otherwise the cover is automatically cancelled and you will still be responsible to pay the proportion of premium for the period we have been on risk.
What are the major exclusions under this policy ?
This insurance does not cover certain losses, such as:-
- Driving under the influence of alcohol and/or drugs
- Your own death or bodily injury due to a motor accident
- Your liability against claims from driver of your vehicle
- Consequential loss, depreciation, wear and tear, mechanical or technical breakdown failure or breakages except breakage of windscreen.
- The loss of use of your vehicle
- damage to your vehicle’s tyres unless your motor vehicle is damaged at the same time.
- Any loss or damage caused by or attributed to the act of cheating/criminal breach of trust by any person within the meaning of the definition of the offence of cheating/criminal breach of trust set out in the Penal Code.
Note: This list is not exhaustive. Please refer to the policy contract for the full list of terms and conditions under this policy.
What are the pre-acceptance conditions for this product?
• No claims for the past 3 years.
• Insured has never been declined, cancelled or refused coverage previously.
Can I cancel my policy?
You may cancel the policy at any time by giving written notice to us. Upon cancellation, you are entitled to a refund of the premium based on the unexpired period of insurance less 10% administration charge.
Where can I obtain further information?
If you have any enquiries, please contact us at:
Customer Service
Dara Insurance Plc
Canadia Tower, 3rd Floor
No. 315, Corner of Ang Duong St.and Preah Monivong Blvd.,
Sangkat Wat Phnom, Khan Daun Penh, Phnom Penh, Cambodia.
Tel : 023 901353
E-mail : enquiries@darainsurance.com.kh
Website: www.darainsurance.com.kh