Standard Extended Warranty for Motor Vehicle Insurance Policy

Decision
No. E/3/2023
Issuing the Standard Extended Warranty for Motor Vehicles Insurance Policy ,Pursuant to the Insurance Companies Law issued by the Oman Sultani Decree No. 12/1979 The Oman Sultani Decree No. 90/2004 on Transferring Insurance Jurisdiction from the Ministry of ,Commerce and Industry to the Capital Market Authority ,The Approval of the Board of Directors of the Capital Market Authority ,and in pursuance of public interest ,It has been decided
Article 1
.The attached Standard Extended Warranty for Motor Vehicles Insurance Policy shall have effect
Article 2
This decision shall be published in the Official Gazette, and comes into force after (6) six months .after the date of publication Issued on: 18 Jumadah II 1444 H Corresponding to: January 11, 2023 Abdullah Salim Abdullah Al Salmi Executive President of the Capital Market Authority Standard Extended Warranty for Motor Vehicles Insurance Policy
Chapter One
Definitions
In the application of these provisions, the following words and expressions shall have the :meaning respectively ascribed to them unless the context otherwise requires The policy: The Extended Warranty for Motor Vehicles Insurance Policy and its appendices The extended warranty: the insurance coverage of the mechanical or electrical failures in .the insured vehicle; which commences when the manufacturer’s warranty expires .The insurer: the insurance company licensed to operate in Oman The insured: the owner of the vehicle covered by the extended warranty and is obliged to .pay the premium and the policy is issued in their name Term of the policy: the agreed term of the insurance coverage for the time period or

.distance travelled between the insurer and the insured in the insurance application Insurance application: the application submitted by the insured in accordance with the .statements stated in appendix no. (2) attached herein The premium: the money, which the insured is obligated to pay to the insurer in exchange .for the insurance coverage specified in the policy The agent: the importer of any vehicle in the Sultanate of Oman who sells new or used .vehicles and licensed by the competent entities Manufacturer Warranty: the contractual liability of the manufacturer or agent towards the mechanical or electrical faults on the vehicle during the specified period or the distance, as .per the agreement between the manufacturer or the agent and the insured The parts included in the extended warranty: the mechanical or electrical parts of the vehicles which are covered by the manufacturer warranty, as stated in appendix (3) of this .form The mechanical or electrical faults: the faults of any of the parts covered by the extended .warranty, as stated in appendix no. (3) in this form The insured vehicle: the vehicle mentioned in the insurance application in appendix (2) of .this form The approved service center: the center specified by the insurer to repair the insured .vehicle The consequential loss: the loss that indirectly results from the mechanical or electrical fault .and it follows its occurrence
Chapter 2
General Conditions and Provisions
:Preamble -1 a. The policy, its appendixes and insurance application are considered as one contract. Any words and expressions in any part of the policy or the insurance application shall have the meaning ascribed unless the context otherwise requires. The insurer shall allow the insured .to review the policy and assure their understanding of its conditions b. All the information, material representations and customary practices relating to the insurance coverage in the extended warranty contracts offered by the insurer shall be .considered the basis of this contract Term of policy -2 :The policy shall come into effect after a. The information provided by the insured are completed along with supporting .documents b. Filling in the insurance application form together with a declaration that the information .provided is true .c. Payment of insurance premium :The coverage commencement date -3 The insurance coverage shall commence from the expiry of the manufacturer warranty to the .expiry of the specified insurance term in the insurance application :Obligations of the insurer -4 a. Provide all the services and settle all claims as accustomed professionally and within the .specified timeframes

b. Handle the mistakes that occur during the service or in the parts or spare parts stipulated .in the list in appendix (3) of this form
c. Pay the compensation amount for the value of the mechanical or electrical fault or issue
the approval order for carrying out repair or maintenance and providing new original spare parts from the approved service center; while abiding by the timeframe for each fault based on its nature, at not more than (3) three work days following the completion of the claim file. In case of rejection of the claim, justifications shall be presented. d. Transfer of policy to the new owner in the event of transferring the insured vehicle ownership, provided, that .the new owner is not related directly or indirectly to importing or selling vehicles :Obligations of the insured -5 a. Complete the procedures for carrying out repair and periodical maintenance of the vehicle regularly. The insurer shall not be liable for repairing the mechanical or electrical faults arising directly from the negligence of the insured during carrying out the processes of .repair and periodical maintenance b. Complete the mechanical or electrical safety test after the occurrence of mechanical or electrical fault before making any repair. The insurer shall be obligated to pay the testing costs if the mechanical or electrical defect is included within the parts covered by the .extended warranty Jurisdiction -6 The courts of the Sultanate of Oman shall adjudicate disputes arising from the application of the .provisions of this policy :Cancellation of the policy -7 The insured shall have the right to cancel the policy, provided that there are no claims, based on the following equation: The returned premium=the insurance premium X remaining .period/insurance period
Chapter 3
Claim Procedures
:The procedures for presenting a claim are as follows .a. Submit the vehicle, policy and service records to the approved service center b. Diagnose the fault by the agent or the approved service center; and submit a detailed report on the status of the insured vehicle to the insurer for approval of carrying out the .repair processes
c. Submit a technical report from the manufacturer or its agent or the approved service
.center along with the quotation to the insurer
Chapter 5
Exclusions
The provisions of this policy shall not be applied in the following cases, unless otherwise agreed :by the insurer and the insured Fixing and repairing parts of the chassis like sliding, divided and convertible roofs, car doors .and trunk .Paint damage and rust in the chassis Leak of water or the parts where water leaked in the chassis like a door that does not fully

.closes, sliding roof isolators, windows and convertible roofs .Shock absorber of the vehicle chassis Group .Modifications and added parts to the vehicle which are not made by the manufacturer .Seat belts and deployed airbags due to an accident .Interior decoration of the vehicle Air-conditioning: charging, recharging and retrofitting; unless charging is carried out in .relation to repairs covered by manufacturer’s warranty Windshields, back windows, door windows, electrical switchgear engines for windows .shifter .Lights of all kinds .Rubber parts with all their internal and external components Tires and rings Depreciation arising from natural usage which arises from gradual decline in the operational performance of the parts covered by the extended warranty taking into consideration .vehicle age and total distance travelled :Consequential losses including but not limited to .a. The vehicle is not used .b. Loss of revenue or work opportunities .c. Costs for transport, fuel and using phone d. Mechanical or electrical faults arising directly from the neglignance of the insured during the .processes of repair and periodical maintenance of the vehicle
Appendix 1
Policy Schedule
:Policy no
:Name of the insurer
Type of insurance
Name of the insured
Insurance term: From to -1
Distance
:Insurance premium -2
.a. Basic insurance premium b. Supervision and regulation fees (0.06% of .(the net insurance premium
c. Emergency fund fees (1% of the net
(insurance premium
RO Total Paid premium -3
Appendix 2
Insurance application
:Name of the owner -1
:Address -2
:Phone No -3
:Email address -4
:Year of manufacture :Model :Type ofvehicle -5 :Number of Cylinders (engine capacity (Liter -6 .Chassis No -7 Date of first registration :Plate code :Plate no -8 Date of purchase -9 :Manufactured warranty period: ayear or distance -10 :The extended warranty period -11

two years without specifying distance (2) - three years without specifying distance (3) - five years without specifying distance (5) - sixyears without specifying distance (6) - .three years or (150000) one hundred and fifty thousand km, whichever comes first (3) - .five years or (150000) one hundred and fifty thousand km, whichever comes first (5) - .Other - :Insurance premium -12 .a. Basic insurance premium b. Supervision and regulation fees (0.06% of the net insurance (premium .(c. Emergency fund fees (1% of the net insurance premium RO Total paid premium -13 :Undertaking-14 I hereby declare that the information of the vehicle mentioned in the insurance application is true and that I shall adhere to the extended warranty term commencingfrom the expiry of the manufacturer warranty to the ending of the term or the stated distance in the policy above. .Terms and conditions shall apply :Signature of the insurer :Signature of the insured :Date List of parts covered by the extended warranty Spare Parts name Engine Bloc Cylinder with cylinder liner Valves with Seat Valves Pistons with Piston Rings Connecting Rod with Connecting Rod Bearing Camshaft with Bearing Flywheel Timing Pinion Turbocharger/Supercharger Manual Gear Box Full set Of Pinions Input Shaft Output Shaft Synchronizer Clutch Housing Automatic Gear Box Torque Convertor Clutch Plates Set

BodyValves
4X4 drive System
Transmission
Propeller Shaft
Front Excel (Right & Left)
Differential Housing with Tube
Pinion Gear
Ring Gear
Spider Gear and side
Rear Excel ( Right & Left)
Steering System
Steering Column
Steering Ruck
Brakes
Caliper Brakes with Piston