FAQ – Himalayan General Insurance
Possible questions and possible answers.
1. What is the period of non-life Insurance?
Usually 1 yr
2. Will I get my money back if I don’t make a claim at the end of the year?
Unlike life insurance, you do not get a refund on non-life insurance.
3. Why do I need Insurance for vehicles?
By law you are required to have at least 3rd party liability insurance.
4. What is the difference between comprehensive and third party insurance?
In case of an accident, comprehensive insurance covers the damage caused to your own vehicle and that of the other party (i.e. third party), + damage due to natural perils, theft, RSMDST (Riot, strike, Malicious Damage, Sabotage, Terrorism)
Third party insurance covers bodily injury, death, damage to property of the third party only, not your own.
5. What documents do I need to bring with me for insurance of vehicle?
VAT bill of purchase in case of a new purchase, vehicle registration book (Blue Book), copy of citizenship paper, passport size photo, the vehicle you are proposing to insure.
6. What happens if I have an accident or my vehicle is stolen or damaged?
Your first duty is to inform the insurance company of the incident. Contact the nearest branch and give a written notice. Do not repair your vehicle before informing your insurer. A surveyor may be appointed depending on your situation.
7. How long will it take to get a claim paid?
If you have provided all of the documentation in time, the claim process should only take a few weeks to complete.
8. What if I lose my insurance papers?
You can always ask for a copy from your insurer. The only original copy is the one given to you.
9. Why is the value of my vehicle depreciated?
According to the Nepal motor insurance tariff, all vehicles are depreciated according to the given guidelines.
10. What happens if my insurance expires and I don’t renew on time?
After the expiry of your insurance, your vehicle is no longer covered by insurance. Failure to renew within 30 days from the date of expiry will result in forfeiture of your no claim discount, if you are eligible to receive one.