What Is Covered and Not Covered Under Commercial Vehicle Insurance in India?

Commercial Vehicles work as goods transportation as well as a mode of transferring passengers from one place to another on a fare-paying basis. Commercial vehicles certainly perform demanding tasks on a regular basis. It could be a touring vehicle on duty of transferring passengers throughout the day, or, it can also be a truck responsible for delivering goods from one spot to another. All types of commercial vehicles ensure that the business goes one without any obstacles and also help in faster transportation.

The continuous functioning of such vehicles on regular basis makes them more prone to certain risks such as an unforeseen accident and natural calamities. Such risks cause you severe damage to both your vehicle and saving leading to several exorbitant repair costs. Your savings might get hampered by paying for such huge amount of losses and repairs. This is why commercial vehicle insurance policies have been designed.

Unforeseen costs could destroy your savings. To come up with such expenses and safeguard your commercial vehicles completely, go for the best Commercial Vehicle Insurance Policy. Only a comprehensive commercial vehicle insurance policy guarantees uninterrupted business process along with a seamless transportation.

What Is Covered?

Comprehensive commercial vehicle insurance plan covers own damage to the vehicle against:

• Accident by external means
• Housebreaking, Burglary, Theft
• Fire, Self-ignition, Explosion, Lighting
• Terrorism, Strike, Riots, Other Malicious Acts
• Transit by Road, Inland Waterway, Rail, Elevator, Lift
• Flood, Earthquake, Storm, Rockslide, Landslide

Personal Accident Cover

• Commercial vehicle insurance policy also covers costs incurred during the medical treatment of the driver in case of an accident. However, you go for the coverage for the occupants of the vehicle by paying an additional premium.

Third Party Legal Liability

• Any third party death or injury due to an accident involving your vehicle
• Any third party owned property damage or loss causing from your vehicle

What Is Not Covered?

Many assume that commercial vehicle insurance will cover anything. However, this perception is wrong. Just like any other types of motor insurance policies, commercial vehicle insurance plans also have a number of exclusions. The policy will not cover any loss or damage resulting due to the followings:

• Depreciation
• Electrical or Mechanical breakdown/failure
• Any damage while driving under the influence of Alcoholic substances/ Liquor/ Drugs etc.
• Any consequential loss
• Loss/ Damage from Mutiny/ War/ Nuclear risks
• Any damage to the tire and tubes have given that the vehicle is not damaged at the same time. Other than that, the Liability of the company shall be limited to 50% against the cost of replacement
• Any Loss/ Damage to the vehicle outside India
• Any damage/ loss caused the insured vehicle by overloading or strain
• Damage to any bridge and/or viaduct
• Damage to any road and/or anything beneath by vibration
• Damage by the weight of the insured commercial vehicle and/or load carried by the vehicle.