When exactly do I need commercial auto insurance?
A commercial auto insurance is required for any vehicle that you use for business purpose, provided it is also registered as a commercial vehicle. A commercial vehicle will also have a commercial license plate or tag.
The following functions are usually performed by commercial vehicles only and therefore need commercial auto insurance cover:
- Using the vehicle to carry equipment and machinery.
- Using the vehicle to transport flammable or hazardous material.
- Using the vehicle to transport housekeeping equipment for business purpose.
- Using the vehicle to tow other vehicles.
- Using the vehicle to carry cranes plows etc.
- Using the vehicle to deliver retail or wholes sale products.
- Using the vehicle to deliver newspaper.
- Using the vehicle to transport people as cab or auto rickshaw service.
- Using the vehicle to run miscellaneous errands on behalf of a business.
- 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?