subject: Features And Benefits Of Commercial Vehicle Insurance [print this page] A well-maintained fleet of commercial vehicles is the priciest possession of any business owner. Any small or large scale business essentially depends on their transport department. Any sort of damage to these vehicles means a greater loss to the business. The best thing that vehicle owners can use for the protection and maintenance of their vehicles is vehicle insurance. It offers coverage to all sort of business vehicles including trucks, tippers, tractors, cement mixers, tourist vehicles, cars, taxis and buses. Insurance is your ideal resource to guarantee utmost protection of your vehicles.
What is commercial vehicle insurance?
Auto insurance or vehicle insurance is mandatory in India. It covers all sorts of loss or damage caused to the vehicle and vehicle parts. Vehicle insurance provides coverage against the damage or loss to the vehicle, occurred due to natural calamities or accidents. Most auto insurance policies have the provision to offer accidental death and third party liability coverage for the owners and the drivers.
Commercial insurance can be availed for all the vehicles which are not used for personal services. It is applicable for various vehicles including trucks, tractors, agricultural vehicles, ambulances, buses and all other light and heavy commercial vehicles. Similar to a life insurance or health insurance policy, the vehicle owner needs to pay timely premiums to avail the predetermined amount as sum assured.
These premiums are calculated on the basis of a number of factors including the model, brand and manufacturing year of the vehicles, place of registration and their existing showroom prices. The sum assured for your vehicle also depends on the insureds declared value (IDV). IDV is the maximum sum assured payable by the insurer in case of vehicle loss or damage. The amount of premiums also depends on whether the policyholder is an individual buyer or a corporate client.
Benefits of auto insurance
Various insurers provide affordable commercial auto insurance plans online. Get online and choose an affordable and suitable vehicle insurance plan to protect your business vehicles. Following is the list of benefits you can avail against a vehicle insurance policy:
To avail insurance coverage for all the commercial vehicles including private and public buses, passenger vehicles, trucks, trailers, flatbed vehicles and construction vehicles.
To reduce the risk of all sorts of vehicle damage including accidents by external means, burglary, terrorism, malicious acts or strikes.
To avail coverage against natural calamities including earthquake, storms, lightning, floods, rockslide, landslide, explosion or fire.
To avail emergency assistance like towing or ambulance in case of any of the aforementioned scenarios. You can opt for cashless claim for immediate help through 24 hour toll-free customer care support.
To avail personal and third party liability coverage for death, injury or loss of property. You can also seek accidental death coverage for the driver or the vehicle owner.
To avail additional riders including coverage for electrical or non-electrical items, lights, tires and tubes, mudguards and bonnets, bumpers, etc.
To avail legal liability and death coverage for the paid staff and passengers.
by: lindadale
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