All about Commercial Vehicle Insurance

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    What is Commercial Vehicle Insurance?

Commercial Vehicle Insurance is for vehicles used for business activities.

Commercial Vehicle Insurance is for vehicles used for business activities.

Examples: Taxis, trucks, autorickshaws

It protects from cost due to damage caused by accidents, natural disasters or theft.

Things to remember while getting a Commercial Vehicle Insurance

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    Type of vehicle (two-wheeler, car, etc; model; age of the vehicle; petrol/diesel/CNG/electric)

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    Insured Declared Value

    How much money will be paid to the insured by the insurance company? It is the Selling Price of the vehicle minus the age and depreciation.

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    Where is the vehicle registered?

    The vehicle must be registered in a place where the insurance company has tie-ups with service centers for repairing any damage caused to the vehicle in an accident.

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    Claim settlement method

    • Cashless Claim Settlement where the insurance company settles claims directly with the repair service centre.

     

    • Reimbursement Claim where you have to make the payment to the repair centre from your pocket and the insurance company will reimburse the amount to you later. This is done after a surveyor from the insurance company goes through all evidence and documents.

Know more how to claim Vehicle Insurance!

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