COMMERCIAL VEHICLE INSURANCE
Commercial vehicle insurance is necessary to keep your business running smoothly. Whether you own a small company with a single van or a company running an entire fleet of commercial vehicles, commercial vehicle insurance is both mandatory and useful.
Getting the right level of commercial vehicle insurance, such as bus insurance, taxi insurance, tempo insurance or truck Insurance at a price that suits you is important, especially when you are using your vehicle regularly for business.
Commercial vehicle insurance is an insurance policy which covers your commercial vehicle against different types of external damages, along with personal and third-party liabilities. It provides coverage for any legal liabilities following death, injury or property damage of third parties, arising out of your vehicle use.
The most important reasons
Regular vehicle servicing and maintenance is proven to reduce operating costs of commercial vehicles. Not only does commercial vehicle maintenance prevent excessive and unplanned vehicle maintenance jobs, it also minimises unscheduled disruptions to your operations when vehicles are off the road for periods of time. So, vehicle maintenance is good not only for your bottom line, but for your customers too.
Before you make a commitment to regular vehicle maintenance it’s important to understand how it’s going to benefit your business. So, here’s 5 reasons why commercial vehicle maintenance should be at the heart of your business strategy if you want to outperform rivals and delight your customers.
- Reduces Vehicle Breakdowns
- Fewer Accidents
- Lowers Operating Costs
- Improves Customer Satisfaction
- It’s the law
What you add-on covers in commercial vehicle insurance
DEPRECIATION SHIELD
In consideration of payment of additional premium, it is hereby agreed and declared that this Policy extends to cover the depreciation amount, partly or fully, on assessed damaged parts allowed for replacement during repairs in the event of a Partial Loss to the Insured Vehicle.
REVENUE LOSS PROTECTION COVER
In consideration of payment of additional premium, it is hereby agreed and declared that in the event of an admissible Own Damage Claim under the Policy, insurance company will pay you some payable own damage claim amount
CTOWING COVER
In consideration of payment of additional premium, it is hereby agreed and declared that in the event of the Insured Vehicle being disabled by reason of loss or damage covered in Policy, insurance company will bear the reasonable per kilometer cost of towing the Insured Vehicle from the spot of accident to the nearest repairer center
ENGINE PROTECTOR COVER
In consideration of payment of additional premium, it is hereby agreed and declared that this Policy extends to cover the consequential damage to the internal child parts of the engine of the Insured Vehicle arising out of water ingression and/or damage to gear box of the Insured Vehicle arising out of leakage of lubricating oil due to Accidental means.
How to Save Premium of Commercial Vehicle Insurance Policy ?
- Know Your Car's IDV
- Claim Your No Claim Bonus
- Install Security Devices
- Become AAI Member
- Increase the Voluntary Deductible
The value of your car depreciates overtime. Hence it is important to know your IDV. A lower IDV attracts a lower premium.
The No Claim Bonus is your rightful reward for being a responsible driver. Earn discounts of up to 50% on your premium year-on-year.
The safer your car, the lower will be the premium. Installing anti-theft devices can fetch you up to 2.5% discount on your car insurance premium.
Become a member of the Automobile Association of India and you can secure a concession on personal-damage premium.
A Voluntary deductible is the amount you agree to pay out of your pocket. The higher your voluntary deductible, the lesser will be your premium.
