How is the premium determined in Commercial vehicle Insurance?
There are many factors on which premium amount is determined and there is some variation in the premium charged by different insurers on similar covers. The parameters for comparison are deductibles, coverage, and Insured declared value (IDV) of the vehicle.
Some insurers have lower premiums but higher deductibles, while other insurers offer lower coverage and lower insured declared value. At IFFCO Tokio, expect the best coverage for the premium you pay.
- What is the amount for which I need to insure my commercial vehicle? How is IDV connected to the amount needed to insure vehicle?
- What kind of risks is covered by IFFCO Tokio third party policy?
- Consequences if I forget to renew my commercial auto insurance on time
- Can I renew my commercial vehicle insurance with IFFCO Tokio?
- What is a No Claim Bonus?