Why Is It Important to Purchase a Commercial Vehicle Insurance Policy?

You can consider commercial vehicles either a mode of transportation or transfers passengers on a fare-paying basis. These vehicles used to perform tedious tasks on an everyday basis - be it a touring car or a truck that carries goods from one place to another. Commercial Vehicles are the part and parcel of most business. All types of commercial vehicles contribute to the business and help in faster transportation. However, these vehicles expose to certain risks such as accidents and natural calamities as they continue functioning on an everyday basis. These risks consist of damage to your vehicle leading to several excessive repair costs. Paying for such unanticipated losses and damages may hamper your financial planning. To avoid such unavoidable situations, it’s always necessary to opt for a commercial vehicle insurance policy.

Features & Benefits of Commercial Vehicles Insurance Policy

·         A commercial vehicle insurance policy covers bodily injury or death caused by the use of the vehicle.      

·         Any loss or damage to the property caused by the use of the vehicle is covered.    

·         You can immediately renew your commercial vehicle insurance policy.

·         You can avail quick claim settlement by opting for the best commercial vehicle insurance policy.

·         Commercial vehicle insurance covers many circumstances and provides insurance cover for automobiles, which are not covered by a personal motor insurance policy.

Commercial Vehicle Insurance Coverage

Third Party Coverage: Third party policy of commercial vehicle insurance protects you against damages or losses that occur due to bodily injury or death to a third party or any damage to that person’s property by the use of your insured vehicle. However, as per motor vehicle law, it is necessary to buy a third party commercial vehicles insurance policy if you have a vehicle.

Comprehensive Coverage:  Loss or damages to your vehicle due to:

·         Self-ignition or lightning, fire, explosion

·         Theft, burglary, housebreaking

·         Strike, riot, earthquake

·         Typhoon, hurricane, storm, tempest, flood

·         Cyclone, hailstorm, inundation, frost

·         Rockslide, landslide

·         Accident by external means

·         Any kind of malicious act, terrorist activity.

This comprehensive coverage also provides third-party liability coverage as well. So it’s recommended to opt for a comprehensive commercial vehicle insurance policy.

Conclusion

If you are on the search of a right commercial vehicle insurance policy, you can visit the website of GIBL.IN. Since 29+ leading insurers are associated with this portal, you can compare commercial vehicle insurance quotes online and then choose the best one.