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...
An accident can bring devastating results, not only to the victim but also to his/her family. Accidents can change the lifestyle of your family. An accident can be of any type, one can be hit by another vehicle, or while playing any sports one can hit, etc. are some of the types of an accident. Accident has different faces, but the results are always the same, they alter the way of living life. It affects the victim and his family physically, financially, morally, emotionally, and in many more ways. Here comes the Personal Accident Insurance , this policy will assist you at the time of an accident. With Motor Insurance you must buy Compulsory Personal Accident Insurance. Personal Accident Insurance is the policy that insure your safety from all types of accidents. Under this policy, the insurance company will compensate you for the medical bills or for physical injury. Types of compensation covered: - · Accidental Death · ...
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