KATHMANDU: Shikhar Insurance Company Ltd has launched a new additional benefit vehicle insurance policy — Shikhar Auto Plus Insurance.

The three additional benefits include depreciation waiver, new vehicle replacement and daily rental or transportation cost. For now, only private two- and four-wheelers will be able to sign up for the additional benefits, as per a media release. As per the company, the insurance will be provided only for vehicles below the age of 10 years from the date of manufacture or registration in Nepal.

Under this policy, the insured will be able to avail one or more benefits for which a separate premium will be charged for each benefit. The additional benefit is expected to provide greater coverage for private vehicle owners in case of accidents or theft of their vehicles.