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Know more About Commercial Vehical Insurance
What is Commercial Insurance?
Commercial vehicle insurance provides protection for vehicles used for business purposes against damages, accidents, theft, or third-party liabilities. It ensures financial security for businesses by covering repair costs, legal expenses, and other unforeseen incidents involving commercial vehicles.
Key Benefits
Comprehensive Coverage
Protects vehicles from damages due to accidents, fire, theft, and natural calamities.
Third-Party Liability
Covers legal liabilities arising from injuries or property damage caused to third parties by the insured vehicle.
Driver and Passenger Protection
Offers coverage for the driver and passengers in case of accidents.
Minimized Financial Burned
Reduces out-of-pocket expenses for repairs or replacements.
Why Do You Need Commercial Insurance?
If you use vehicles for business purposes, such as transporting goods or passengers, commercial vehicle insurance is essential. It protects your business from financial losses caused by accidents, theft, or liabilities, ensuring smooth operations and compliance with legal requirements.
What’s Included & Excluded?
Included
Damage to vehicles caused by accidents, fire, theft, or natural disasters. Third-party liabilities, including injury or property damage. Coverage for driver and passenger injuries. Towing assistance in case of breakdowns.
Excluded
Damages caused by illegal activities or driving under the influence. Normal wear and tear of the vehicle. Mechanical or electrical breakdowns.Use of the vehicle outside the policy’s permitted coverage area.
Latest Blogs
Commercial Vehicle Insurance sub-categories:
1.
Goods Carrying Vehicle Insurance:
Protects vehicles transporting goods from damages and third-party liabilities.
2.
Passenger Carrying Vehicle Insurance:
Provides coverage for commercial vehicles like buses, taxis, and auto-rickshaws used to transport passengers.
3.
Third-Party Liability Insurance:
Covers legal and financial liabilities for injuries or property damage caused to third parties.
4.
Comprehensive Insurance:
Offers extensive coverage, including vehicle damage, third-party liabilities, and personal accident cover.
5.
Fleet Insurance:
A single policy to cover multiple vehicles owned by a business, simplifying management and ensuring complete protection.
