5 Advantages of Purchasing Commercial Vehicle Insurance in India

A commercial vehicle insurance policy covers a vehicle that is used to transport products or passengers. Commercial vehicle insurance is a type of vehicle insurance that provides financial support to a commercial vehicle in the event of an accident. It is comparable to private automobile insurance. However, the coverage tailored to meet the demands of a commercial vehicle and the eventualities that may arise with such vehicles.

What is a Commercial vehicle Insurance Policy?

Commercial vehicle insurance coverage covers financial responsibilities resulting from damage caused by or to business vehicles. This insurance covers losses caused by fires, natural disasters, accidents, crashes, and other tragedies.

These designs have a broadcasting net for commercial vehicle inclusions. Thus, you may get commercial vehicle insurance online for vehicles such as cabs, tractors, school buses, auto-rickshaws, and others to protect your business from financial responsibilities resulting from accidents.

If you use your automobile as a vehicle, you must get commercial vehicle insurance coverage rather than a standard car insurance policy.

Features of Commercial Car Insurance

  • It pays for the litigation and legal expenses that are filed against you.
  • It includes additional advantages for any deaths that occur as a result of an accident.
  • A no-claim bonus is granted during renewals if there is no claim throughout the policy period.
  • It covers several kinds of exterior vehicle damage.
  • It covers third-party liabilities such as bodily harm or vehicle damage caused by a third party.

5 Benefits of Commercial Vehicle Insurance Policy

Now let’s talk about which is the benefits of commercial vehicle insurance policy.

  1. Theft coverage

If your vehicle is stolen, you will be entitled to a settlement sum based on the business vehicle insurance you purchased online. This payout amount will be the insured declared value (IDV) of your covered car.

  1. Personal Accident Cover

If you do not already have personal accident insurance coverage. You can incorporate one into your commercial insurance policy because it required by law. This offers coverage for the owner-physical driver’s harm or death in the event of an accident.

  1. Roadside assistance coverage

When your car breaks down on the road due to an accident, flat tyres, a faulty battery, or other reasons, the insurance will cover breakdown help as an add-on. And you will have the benefit of receiving assistance 24 hours a day, seven days a week.

  1. Loss of Revenue

Vehicles are necessary for many people’s jobs. This add-on helps to reimburse you for any lost revenue that may occur while your business vehicle is being repaired due to damage.

  1. Towing assistance

When your car is involved in an accident, it must be hauled to a garage for repairs. This component of the insurance will cover any additional fees you may incur while your car is being transported from the scene of the accident to the nearest garage or place of safety.

Never let a trip ground to a standstill. It is critical to remember that any unwelcome financial outlay might derail the process. By purchasing commercial car insurance, you can ensure the smooth operation of your business and the security of each commercial excursion.

FAQ’s on Commercial vehicle insurance

What is the difference between private and commercial vehicle insurance?

Private vehicle insurance allows for personal accident cover to the driver and passengers of a privately owned car in case of a fatal accident, leading to death or disability. Commercial car insurance provides personal accident cover to both the driver and passengers of any assortment of vehicles in case of a fatal vehicle crash.

What is third party insurance for commercial vehicle?

Third-party policies are available if you’re not the owner or driver of a vehicle but instead have legal ownership of that vehicle. In this case, you’re referred to as a ‘Policy Holder’ or ‘Owner’. The same goes for commercial vehicles which can be insured under third-party policies without the need for applying for third party owner insurance.

Can I use commercial vehicle for private use?

Yes. If you have a commercial driver’s license, you can drive both commercial vehicle and private car. In addition to the 7-Series vehicles, you can also operate with a certain type of semi-trailer and trailer combination as well.

How much does it cost for car insurance in India?

How much does car insurance cost in India? Car insurance typically costs about ₹2,400 (one thousand two hundred) per year.

Which is the largest commercial auto insurance company?

There are many commercial auto insurance company available and all Commercial vehicle insurance policy is such a valuable but Progressive is the biggest automobile insurer in the commercial auto insurance market, with $1.4 billion worth of direct written premium. This is double the total of Travelers, runner-up in this segment.


Commercial vehicle insurance is an important aspect to consider in India. The potential dangers involved with using commercial vehicles are high in number. And this means that it’s important to have quality insurance in place.

If you are considering commercial vehicle insurance for your vehicle. Take a look at our blog for a few tips on why you should purchase commercial vehicle insurance today.

We hope you enjoyed our blog on the advantages of purchasing Commercial Vehicle Insurance in India. It is important to have adequate insurance in place to protect your assets, particularly if you own a commercial vehicle. If you have any additional questions or would like to discuss a policy that is right for you, please contact us at.

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