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Definition

Commercial Vehicle Insurance is designed to protect vehicles used for business purposes, such as delivery vans, trucks, and buses. It covers damages from accidents, theft, natural calamities, and provides liability coverage in case of damages or injuries caused to others.

How does it work?

Businesses select and purchase a policy that best fits their fleet’s needs. Premiums are based on vehicle types, usage, coverage limits, and other factors. In case of an accident or damage to the vehicle, the policy provides financial compensation to cover repair costs and liabilities.

What’s Covered

Collision andOverturning covers damages to the vehicle from collisions and overturning.

Fire andExplosion compensation for damages caused by fire, explosion, or lightning.

Third-Party Injuriesor Damages liability coverage for injuries to others or damage to third-party property.

Goods inTransit optional coverage for goods being transported in the vehicle.

What’s Not Covered

Wear and Tear standard aging and deterioration of the vehicle.

Driving Under Influence accidents occurring under the influence of drugs or alcohol.

Unlawful Use damages incurred during illegal activities or unauthorized use of the vehicle.

War and Nuclear Risks damages due to war, rebellion, or nuclear risks.

Non-Compliance with Vehicle Standards damages resulting from non-compliance with safety and maintenance standards.

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