Bollywood actor Tiger Shroff narrowly escaped an assassination attempt on Sunday after gunmen opened fire on his car in Mumbai's Juhu. The 36-year-old actor was left unhurt and the police are investigating the matter. The incident took place while he was in a car that was leaving a football club.
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The incident has raised concerns about law and order and safety of high profile figures in Mumbai, which is the home to many prominent Bollywood celebrities.
The issue has also raised questions about insurance coverage during such incidents. If one ever encounters bullet damage, gunfire or attack related losses, are insurance companies liable to pay?
Does Car Insurance Cover Bullet Damage?
This depends on the type of insurance coverage that one has. In India, there are three main types of car insurance. These include third party insurance, standalone or own damage insurance and comprehensive insurance.
1. Third-Party Insurance: This insurance covers legal liability for injury, death, or property damage caused to third parties by your vehicle. It is mandatory for vehicles in India.
2. Standalone Own-Damage Insurance: This insurance covers damage to your own vehicle caused by accidents, theft, fire, natural disasters, or other covered events. It does not cover third-party liabilities.
3. Comprehensive Insurance: This insurance combines third-party liability and own-damage coverage. It protects against third-party claims and damage to your vehicle from accidents, theft, fire, and natural disasters.
For bullet-related damages, comprehensive insurance or standalone own-damage insurance may cover the repair costs. It is likely that standalone cover may have certain exclusions, which can include such incidents.
Typically, war, invasion, terrorism and military operations are often excluded from standard cover. You will need to confirm this with your insurance provider and check whether your policy allows standard or add on coverage for bullet or gunfire damages.
Generally, comprehensive insurance policies are more likely to cover such costs. It is the most exhaustive coverage for car owners and usually protects the vehicle against a range of financial and legal responsibilities. This also means that comprehensive insurance premiums can be on the higher side. You should ideally clarify these inclusions with your provider and also stay updated on the steps you need to take for insurance purposes in case such incidents happen.
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To stay protected and informed, make sure to check the policy's “perils covered” and “exclusions” sections and ask your insurer to provide in writing about such specific coverage, if not covered.
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