Ms. Mona Mathur is a Fellow Member of Institute of Chartered Accountants of India and holds over 20 years of experience in managing accounting, auditing and finance operations.
Owning a commercial vehicle is considered as an asset. The insurance company ensures that your asset never becomes a liability for you. Commercial Vehicle Insurance is designed to cover damage and loss caused to or by the vehicle respective to the owner or driver. Why should you opt a Commercial vehicle Insurance ? As per the Motor Act 1988, it is mandatory for every vehicle owner to insure their vehicle with third-party insurance. The insurance company helps to assist you financially and legally at the time of natural and man-made calamities like earth earthquake, flood, typhoon, hurricane, storm, tempest, cyclone, landslide, rockslide, fire, riots, burglary, theft, thunder lightning, accidental, malicious act, terrorist act etc. The insurance provides you peace of mind and also saves you from financial and legal hassles. There are two types of vehicle insurance: - Third-party Insurance- Third-party Insurance covers the dama...
Commercial vehicles are more prone to accidents, so it becomes essential for all commercial vehicles to have an insurance policy. The insurance policy proposes different safety from almost all the perils that can ruin your vehicle. After taking a commercial vehicle insurance policy , the insured transfers all the risks from him to the insurer. Process of Filing Claim for a Commercial Vehicle Inform the Insurer - The main aspect of the claim is to inform the insurer as soon as possible. All the insurance companies offer a certain time frame under which the insured has to inform about the event and ask for the Claim. If you are late to inform about the event, then you must have a valid reason that can be adapted by the insurer otherwise the claim will be rejected. Take Photos - There are some events in which taking snaps are not possible, but if it is possible then it is highly recommended to take some snaps. The snaps are useful at the time of the sur...
Life is so uncertain that you can't predict what it will show in the next second. Therefore, it is necessary to secure your life before it's too late because an accident can occur at any time without any warning. And, it can leave a significant impact on the mind, body and finances. Hence, it is very important to purchase personal accident insurance to protect yourself and your family from such a situation. How useful it is to buy personal accident insurance - To get financial assistance for you and your family, personal accident insurance is useful is important for people in the event of an accident that leads to bodily injury, temporary total disability, permanent total disability permanent partial disability and death. Where in case of accidental death and permanent partial disability, the insurance company will pay 100%. And, for other disabilities insurers pay compensation accordingly. Let's see some of the facts about accidents in India – Mo...
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