Commercial Vehicle Insurance is a type of motor insurance policy to cover damages and losses produced to or by a commercial vehicle and the particular owner-driver. This could involve damages and losses in situations such as accidents, collisions, natural calamities, fires, etc. All businesses need to buy industrial vehicle insurance for their vehicles, such as auto-rickshaws, cabs, school buses, tractors, commercial vans, and trucks.
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Types of Commercial Vehicle Insurance
There are two types of commercial vehicle insurance.
- Comprehensive Commercial Vehicle Insurance
- Third-party liability Commercial Vehicle Insurance
Why do you need a Commercial Vehicle Insurance?
- Suppose your business owns one or many vehicles. During the case, it’s crucial to get commercial vehicle insurance that will financially guard and cover your business from any losses and injuries caused to and by your car (s) and the people doing it.
- If your primary business includes applying vehicles, before-mentioned as a regular cab service or a private school bus, commercial vehicle insurance will assure your stakeholders and passengers that they’ll always be guarded and covered.
- Essentially a mandate by law, it is compulsory to have a Liability Only policy in place that guards third parties against any damages and losses that your commercial transportation could cause.
Commercial Vehicle Insurance Cover
- Accidents
- Theft
- Fire
- Natural Disaster
- Personal Accident
- Third-Party Damages
- Towing damage Vehicle
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Commercial Vehicle Insurance Claim Process
Claim commercial vehicle insurance can be a clear advantage with the right path. To make the claimed amount refunded without a hassle, it is crucial that you immediately notify your commercial transportation insurance provider regarding the damage. Commercial Vehicle insurance providers allow claim forms online as well. It is essential to cross-check commercial transport insurance details.
- Policy number for reference
- Time and date of loss
- the location where the incident took place
- A brief description of the incident
- Name & Contact number of the person filing the claim
Documents Required
Here this selection the claim commercial passenger vehicle insurance or goods carrying transport insurance. you will need to provide the following document.
Registration certificate of the vehicle
- Driving License (real copy)
- Claim form duly signed and filled
- Copy of FIR
- Tax paid receipt
- Copy of Aadhar Card
- Fitness certificate
- Original insurance policy papers
Commercial Vehicle Insurance Policy Renew Process
Below are mentioned the commercial wheels insurance plan can be renewed online as well as offline mode.
Step-1: Visit the official website of your insurance provider.
Step-2: Go to the policy renewal option.
Step-3: Enter the required details, such as the policy number
Step-4: Submit the details
Step-5: Pay the premium amount online
Best of Luck…!!!