What Is Insurance For Commercial Vehicles?

Commercial car insurance is auto insurance that protects your company vehicles from losses or damages brought on by unlucky circumstances.

You must insure your taxis, trucks, school buses, and other commercial vehicles under a comprehensive commercial vehicle insurance online policy if you own any of these vehicles. With this insurance, you’ll be protected from severe financial hardships brought on by losses or damages to third parties’ people or property.

You can get a comprehensive and liability-only plan while looking for commercial car insurance. The earlier insurance policy offers superior protection, including coverage for owner-driver, own vehicle, and third-party damages. A liability-only policy only provides limited coverage because it only covers third-party people and property.

Commercial Vehicle Insurance Exclusions

Setting reasonable expectations from the start will be facilitated by having a clear understanding of the inclusions. You will receive the following standard inclusions regardless of the insurance you choose:

For Commercial Vehicle Third-Party Insurance

You will be protected from the following with third-party or liability-only commercial vehicle insurance:

  • A third party’s loss or damage brought on by accident involving your car.
  • Loss or damage to another party’s property brought on by accident involving your car.

For Comprehensive Commercial Auto Insurance

Comprehensive commercial vehicle insurance online shields you from additional risks in addition to those covered by third-party commercial vehicle insurance, including:

  • Loss or damage to your locked car brought on by rioting, towing broken-down automobiles, traffic accidents, or natural disasters.
  • Loss or damage incurred by the owner or driver due to an accident, disaster, or other unpleasant circumstances.  

You can broaden the coverage under your auto rickshaw insurance by purchasing the appropriate add-ons or riders. Although the add-ons differ from insurance provider to insurance provider, you can typically upgrade for the following in return for paying a higher premium:

  • Consumable cover: In the event of an accident, this add-on will pay for the costs of your commercial vehicle’s nuts, screws, engine oil, and other components.
  • Depreciation insurance for automobile parts: Whether used for business or not, all vehicles and the parts that make them up are subject to depreciation. Get an add-on that shields you from depreciation on vehicle parts if you don’t want your claim to be based on the vehicle’s depreciated worth. 
  • Emergency roadside assistance: This add-on will aid you if your commercial vehicle breaks down on the side of the road due to an engine malfunction, an accident, or any other cause. You will receive roadside assistance day or night.   
  • Engine protection: Comprehensive commercial vehicle insurance does not cover consequential damages. However, if you purchase an add-on to safeguard your car’s engine, you can file a claim for the resulting damages.*
  • Legal liability: This add-on is essential if you wish to shield yourself from lawsuits brought about by injuries to those working for you while on the clock.

Make sure you do your commercial vehicle insurance renewal on time.

* Standard T&C Apply

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.