Goods Carrying Vehicle Insurance Policy
Buy/Renew Goods Carrying Vehicle Insurance Policy Online
Buy/Renew Goods Carrying Vehicle Insurance Policy Online
A commercial goods carrying vehicle insurance policy is a plan that provides coverage to the insured when their vehicle undergoes several kinds of damages due to unforeseeable events. A vehicle that is primarily used to transport goods from one place to another for commercial reasons is referred to as a commercial vehicle. A well-structured insurance plan can ease the financial setback that can happen as a result of events such as floods, fires, theft, storms, riots, accidents, and so on. The coverage opted depends upon the plan chosen.
As an owner of a business that manages commercial goods carrying vehicles, you may be aware of the risks and dangers that these vehicles are vulnerable to. To protect your business revenues from getting a dent due to such dangers, you should opt for a commercial goods carrying vehicle insurance plan. It is also mandatory as per the Motor Vehicles Act of 1988 to have basic third-party coverage if you wish to drive your vehicle on Indian roads.
As mentioned earlier, prevalent laws mandate the purchase of third-party insurance for any vehicle owner wishing to ply on Indian roads. The third-party goods carrying vehicle insurance plan offers coverage to the insured in case of third-party liabilities arising during accidents.
If you are looking for protection from a variety of unpredictable events such as natural calamities, naturally occurring and manmade fires, theft, riots, larceny, and so on, then a comprehensive goods carrying vehicle insurance policy would be the ideal option. Aside from this protection, you also have third-party liability coverage as well as the benefit of selecting multiple add-ons under the comprehensive plan.
Natural disasters
Damages caused due to natural disasters such as floods, storms, landslides, earthquakes, hailstorms, lightning, and similar incidents are covered in this insurance policy. Goods carrying vehicles are especially susceptible to these events, so coverage against them is essential to protect your hard-earned money.
Fire
A fire can cause immense amounts of damage. A goods carrying vehicle which is often huge in size with a large engine capacity can get severely affected by such fires. So, insuring such vehicles with a comprehensive goods carrying vehicle insurance policy can lead to great savings for you in such situations. Naturally occurring fires as well as fires caused due to manmade reasons are also covered.
Theft
The commercial goods carrying vehicle insurance plan also provides compensation if the vehicle is ever a victim to theft, larceny, break-ins, and so on. With goods carrying vehicles driving long distances and travelling distant, unknown roads, the risk of theft is prominent and so, such coverage is all the more important.
Third-party liabilities
The comprehensive goods carrying vehicle insurance policy also covers third-party liabilities. So, harm to third-party individuals and damages to third-party vehicles or property are also covered.
Additional protection with add-ons
You can opt for add-ons and level up your financial protection. Some popular add-ons include zero depreciation cover which allows you to claim the entire claim amount without consideration of the depreciation value. The NCB protector allows you to freeze your claim-free streak and raise a claim without affecting your NCB discount.
A third-party goods carrying vehicle insurance policy covers the following events:
Damages occurring to a vehicle/s of the third-party during an accident caused by the insured vehicle are covered under third-party goods carrying vehicle insurance.
If in an accident, the insured vehicle causes bodily harm to a third party, then the liabilities arising as a result of that is covered under the third-party goods carrying vehicle insurance plan. Liabilities arising due to the death of the third party are also covered.
If the insured vehicle accidentally causes damage to third-party property, then compensation up to a certain limit will be provided by the insurer.
As per prevalent laws, every vehicle owner mandatorily needs to have a personal accident cover. This cover provides compensation to the insured in the unfortunate event of an accident causing them total and permanent disability as well as death.
Raising a claim with us is easy. Here is a step-by-step guide on how you can raise a claim on your commercial goods carrying vehicle insurance plan:
You can initiate the claim process by informing us. You can give a call at our toll-free number, reach out to us through our app or contact us at one of our branches if it is possible for you.
If it is an event that requires informing police authorities, then it is essential that you do so at the earliest and provide an overview of the event. The insurer will require a copy of the FIR as well.
Now, you need to provide us with the claim form duly filled and signed by you. This step of the procedure may require you to provide us with relevant documents such as your driving license, RC of the insured vehicle, a copy of the insurance policy, and so on.
It is important that you do not begin with the repairing process until a representative from the insurance company has inspected/surveyed your vehicle and the damages. You can begin the repairing process then onwards.
If you have opted for cashless repair, then you will have to pay only the deductibles. The rest of the payment will be handled directly by the insurer with the network garage. In the case of non-cashless claims, you will have to pay for the repairs.
In case of a reimbursement claim, you will have to provide the bills for the repair to the insurer so that they can reimburse you the amount accordingly.
We have over 20,000 branches and agents spread across the country. This allows us to provide quick and efficient service to you no matter the location.
We have over 20+ years of experience in the Indian general insurance sector, providing our customers with the best insurance policies.
You can reach out to us for any queries or doubts related to your commercial goods carrying vehicle insurance plan at any time and we will be there to answer you.
With 4300+ network garages located in different parts of the country, you can access quality repairs for your commercial vehicle with no hassle of arranging large amounts of cash.
We have settled a total of 11.48 lakh claims in 2021 and have an excellent claim settlement ratio of 92.65%.
Since a commercial goods carrying vehicle travels long distances, covering several states, the risks it is vulnerable to are also high. Frequent visits to a garage are bound to happen. You can protect your finances from these expenses with the help of a reliable commercial goods carrying vehicle insurance plan.
Looking for a garage and paying for the repairs can be time-consuming. However, with a commercial goods carrying vehicle insurance plan, you can rely on network garages to provide your vehicle with the best quality repair and not worry about making large payments as well. This helps ensure that your vehicle is back on track quickly and is running your business well.
With a commercial goods carrying vehicle insurance plan, you can breathe a little easier in the event of your commercial vehicles suffering damages. You can rest assured that you will not have to shell out a large amount of money from your business revenues.
Our commercial goods carrying vehicle insurance plan also covers hired driver/s and employee/s. So, if the covered events were to cause any harm to them, you can raise a claim and get financial aid for the same.
