Types of Commercial Vehicle Insurance as per the Use

Commercial vehicles play a vital role in the life of a businessman and a common man. Now the question arises about how this can be useful for a common man, he has nothing to do with it. Commercial vehicles are a critical part of a supply chain, not only for goods but they are also used for travel. Every one of us has to use a commercial vehicle to travel from one place to another some of the time. No matter who you are, commercial vehicles can’t be replaced with any other commodity. Hence, this is one of the veins that help to nourish the country with all the needed requirements. 



What is the use of Commercial Vehicle Insurance?

For such a crucial body, there must be a proper safety organization. Therefore, the commercial vehicle insurance company comes into the role. The insurance company presents different types of plans for the vehicle. It depends on what they are looking for? Although there are policies that can specifically insure the vehicle, goods passengers or the drivers. 

Third-party Insurance - The policy assures safety for third party loss. In terms of life and property loss, the insurer safeguards the insured with financial and legal assistance. Third-party insurance is also a compulsory insurance policy to opt for. 

Own Damage Insurance - The body of the vehicle is insured in the policy from different types of perils. Natural and man-made perils are covered that have an impact on the life of a commercial vehicle. Commercial vehicle insurance gives you an easy and comfortable life in terms of vehicle perils. 

Transit Insurance - The vehicles that carry goods, they can also assure the safety of the goods by an insurer. This is known as Transit Insurance. The insurer gives assurance to the customer for their goods and in case of loss, accident or natural or man-made perils the insurer provides compensation.

Comprehensive Insurance Policy - The customers who are looking for Third-party Liability and Own Damage security, then they can go for a Comprehensive Insurance Policy. 

 

Comments

Post a Comment

Popular posts from this blog

How Commercial Vehicle Insurance Can Change your Business

Image
The country of India has at its highest peak in the growing sector. It is observing one of the fastest phases ever. The growth of the businesses is one of the main reasons that in encouraging the development of the nation. Businesses are one aspect that has played a critical role in building the potential of India’s economy. Every organization requires a supply chain that completes the cycle of raw materials from the business to the clients. The clients can be other businessmen or normal customers. The supply chain is covered by commercial vehicles, trains, cargo marines, cargo aircraft, etc. Though, the use of commercial vehicles plays a vital role as the backbone of any business. As per the report, there are more than 1 million commercial vehicles on the roads which are serving the companies to serve their client on time and grow more. Now, the point is that why are commercial vehicles insurance important to flourish the business?  Insurance company assures the safety of the ve hi
Read more

Commercial Vehicle Insurance

Image
  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 damage caused to the third party by the insured
Read more

How useful is personal accident insurance for you?

Image
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 – More than
Read more