What commercial auto Insurance Cover should I buy? Why is a comprehensive policy more expensive than liability only?
In India, third-party liability insurance is a mandatory buy for all vehicles plying on the roads in India. The liability-only policy covers losses and damages to people and property caused by the insured to others. A comprehensive policy covers both ‘third-party liability’ and damage to the insured’s own vehicle. A comprehensive policy is broader and therefore more expensive than a liability-only policy.
- 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?