Commercial vehicle insurance benefits are as important for any small or big business owner as they are for individuals. Since for them the impact of an unexpected damage or cash outflow is big, and hence it makes monetary sense to cover your risks. Commercial vehicle insurance covers a majority of these losses arising out of situations involving your commercial vehicle. Here are some of the commercial vehicle insurance benefits.
- Third party insurance is mandatory in India, it also saves your from monetary obligations that come when someone files a FIR in a accident involving your vehicle.
- Unplanned expenses arising out of theft or loss of vehicle can be met with insurance cover.
- Natural calamity inflicted losses are covered.
- The owner/driver accident cover is also a part of this.
Apart from all this, there are a host of additional optional features that you can get included in your insurance policy, by paying a small premium. Some of them are :
- Geographical extension of your vehicle presence route.
- Retention of no claim bonus.
- Loss or damage of accessories.
- Waiver of reduction in depreciation for partial losses.
- Cashless claims
- Towing facility
One of the Commercial vehicles insurance benefits is that it is easily transferable. You need to inform the insurer in writing of the transfer of ownership of the vehicle within 14 days, after which the insurance will be applicable.
If you need any assistance in selecting the best insurance for your vehicle, please fill in the form above and get the best insurance quote.