Other Commercial Insurance

This insurance covers sectors with specialized coverage for specific risks and operations.

Understanding Commercial Insurance for Business Entities

Commercial insurance caters to businesses and industries, providing coverage for a range of operational and asset-related needs. It serves industrial sectors like construction, manufacturing, telecom, textiles, and logistics, offering essential protection during business operations.

What does commercial vehicle insurance cover?
  • Accident cover in commercial vehicle insurance
  • AccidentsCommercial vehicle insurance policies provide coverage against the damages to or by a commercial vehicle in case of an accident.
  • Fire
  • Losses/Damages caused to commercial vehicles in case of fire are covered in this policy.protection against fire in commercial vehicle insurance.
  • Theft cover
  • If your commercial vehicle is stolen, this policy ensures you are covered for the loss of the vehicle if your vehicle can not be tracked.
  • Natural Calamities
  • Natural disasters such as floods, lightning, and storms can cause huge damage to vehicles and a commercial vehicle insurance policy can protect you from losses due to any natural calamity.cover against natural disasters in commercial vehicle insurance.
Commercial Vehicle Insurance Third-Party Coverage
  • Third-Party Losses
  • Third-party property damages are covered up to 7.5 lac and injury, and deaths of third parties are covered by an unlimited amount in commercial vehicle insurance.
  • Towing Disabled Vehicles
  • Any damages to or by the commercial vehicle while being towed are covered in the commercial vehicle insurance policy.
What is not covered in commercial vehicle insurance?
  • General Wear & Tear
  • Any loss or damage to the vehicle due to war, invasion or nuclear warfare etc.
  • Mechanical or electrical breakdown of the vehicle.
  • Any loss or damage caused outside the geographical area of coverage as mentioned in the policy.
  • Usual depreciation of the value.
  • Driving without an appropriate driving license
  • Non-accidental losses.
  • Any loss occurred to the commercial vehicle while using it for racing or any illegal purposes.
  • Any losses occurred while drunk driving the vehicle.
Types of Commercial Vehicle Insurance Plans
  • Third Party Insurance
  • Third Party policy covers the damages to third-party properties or injuries or death of other persons involved in an accident with the insured. As per Indian laws, it's mandatory to have at least third-party insurance to drive a vehicle in India. Third-party insurance is recommended to vehicle owners if the vehicle is very old and has a very low IDV compared to the premium being paid or if it's being driven very less.
  • Comprehensive/First Party Insurance
  • This type of policy covers both third-party damages and own vehicle damages in case of any accident, theft or fire. It is not mandatory to buy a comprehensive policy for your commercial vehicle but it's always advisable to opt for it because of the limited coverage provided in third-party-only policies. A comprehensive policy will cover insured vehicle against any partial or total damage to the vehicle due to any accident or external means such as riots or natural calamities as well hence it's best to buy a comprehensive package policy.
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