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What is the maximum amount payable for accidental loss or damage to the vehicle?
What is the maximum amount payable for accidental loss or damage to the vehicle?
If repair costs exceed the current market value of the vehicle, what action will the Company take according to the text?
If repair costs exceed the current market value of the vehicle, what action will the Company take according to the text?
When will the Company replace a new vehicle with a new vehicle of the same make, model, and specification according to the text?
When will the Company replace a new vehicle with a new vehicle of the same make, model, and specification according to the text?
What option does the Company have for repairing a vehicle beyond its current market value?
What option does the Company have for repairing a vehicle beyond its current market value?
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What is one condition must be met for the Company to replace a stolen new vehicle with a new one according to the text?
What is one condition must be met for the Company to replace a stolen new vehicle with a new one according to the text?
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In what scenario will the Company settle a claim by making a payment for a vehicle's market value?
In what scenario will the Company settle a claim by making a payment for a vehicle's market value?
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What is the maximum amount the Company will pay if a vehicle is not immediately available in Malta or was not purchased in Malta?
What is the maximum amount the Company will pay if a vehicle is not immediately available in Malta or was not purchased in Malta?
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What is included in the Personal Accident coverage (not applicable to Motor Cycles/Quad Bikes) ?
What is included in the Personal Accident coverage (not applicable to Motor Cycles/Quad Bikes) ?
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What is the maximum limit for Personal Accident coverage for Death & Permanent Disablement?
What is the maximum limit for Personal Accident coverage for Death & Permanent Disablement?
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Under what conditions will Breakage of Glass coverage apply according to the text?
Under what conditions will Breakage of Glass coverage apply according to the text?
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What must be done to ensure that Breakage of Glass claim does not affect the No Claim Discount?
What must be done to ensure that Breakage of Glass claim does not affect the No Claim Discount?
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In case of permanent disability, how much can be claimed for modifications or adaptations done to the insured vehicle according to the text?
In case of permanent disability, how much can be claimed for modifications or adaptations done to the insured vehicle according to the text?
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If a private vehicle owner has had 4 years claims free and makes a single claim, what will be the new No Claims Discount (NCD) percentage at the next renewal?
If a private vehicle owner has had 4 years claims free and makes a single claim, what will be the new No Claims Discount (NCD) percentage at the next renewal?
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For a commercial vehicle owner aged 21-24, what would be the voluntary excess for Third Party Only in case of own damages?
For a commercial vehicle owner aged 21-24, what would be the voluntary excess for Third Party Only in case of own damages?
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In the event of two claims arising during the period of insurance for a private vehicle owner with 3 years claims free, what will happen to the No Claims Discount (NCD)?
In the event of two claims arising during the period of insurance for a private vehicle owner with 3 years claims free, what will happen to the No Claims Discount (NCD)?
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For a motorcycle owner aged 18-20, what is the total excess payable for Comprehensive cover in case of own damages?
For a motorcycle owner aged 18-20, what is the total excess payable for Comprehensive cover in case of own damages?
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If a private vehicle owner with MotorMax coverage ages from 25+ to 21-24, how does the excess change for Theft or Theft Damage or Fire following Theft?
If a private vehicle owner with MotorMax coverage ages from 25+ to 21-24, how does the excess change for Theft or Theft Damage or Fire following Theft?
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In which situation would a motorcycle owner benefit from an excess waiver on Comprehensive Cover?
In which situation would a motorcycle owner benefit from an excess waiver on Comprehensive Cover?
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Study Notes
- The text outlines various provisions of an auto insurance policy offered by a company.
- The policy covers accidental loss or damage to a vehicle, including its accessories and spare parts, up to the reasonable market value at the time of loss or damage, but not exceeding the Sum Insured.
- The company may repair, reinstate, replace, or pay for the loss or damage; use parts of similar standard for repair; or settle the claim by payment of the vehicle's market value if repairs exceed the market value.
- If a new vehicle is stolen or damaged beyond repair within the first 12 months of purchase in Malta, the company will replace it with a new one of the same make, model, and specification, if immediately available.
- Personal Accident coverage for death and permanent disablement, as well as medical expenses, is included for the insured and passengers.
- Police report and doctor's referral are required for Personal Accident and Medical Expenses claims.
- Glass breakage and bodywork scratching caused by broken glass are covered, up to €1,000, without affecting the No Claim Discount.
- No Claim Discount (NCD) reduction after claims: single claim results in a one-year step-back, two claims result in a two-year step-back, and more than two claims result in a 0% NCD.
- Various excesses apply to different types of damages under private, commercial, and motorcycle policies.
- Excess waiver is available for Comprehensive Cover if the client has a Home Policy with MMS covering contents, subject to conditions.
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Description
Test your knowledge on the maximum amount payable for accidental loss or damage to a vehicle, including accessories and spare parts. Understand the criteria for determining the reasonable market value at the time of loss or damage.
