Commercial Motor Insurance: Why is it Important?

Businesses are constantly under the risk of losses at risk of losses. Any contingency can place a huge financial burden on your business. While some businesses may be capable of surviving through such situations, not all business owners can manage to alleviate the financial losses.

To be prepared for such situations, every business owner must be small and medium enterprise (SME) is required to have business insurance. Many insurance companies offer commercial insurance in India. You can choose from a variety of business insurance policies that offer the right coverage for you and your business.

Insurance is an effective tool to cover your financial losses when your car is damaged in an accident or any other similar event. Whether your car is for personal use or for business activities, motor insurance is required to protect your car from the possibility of damage or loss. Ideally, your car insurance policy should be based on the vehicle’s risk factors. This is where the difference between coverage for private vehicles and commercial vehicles begins. A commercial vehicle is more than just a personal transportation tool and requires special coverage for accidental loss or damage. *

What is commercial car insurance?

Commercial insurance for cars is a motor insurance policy that provides coverage to vehicles that are intended for business use. Taxis plying in Indian cities are a prime example of this. The type of insurance coverage under this category is slightly different because the risks faced by commercial vehicles are different from the risks of private vehicles. These accidents can cause damage to passengers, drivers, or vehicles. Any of these three can adversely affect business and commercial vehicle owners need protection from them. Like private car insurance, you can buy commercial car insurance online. Here is a list of things covered in Commercial Vehicle Insurance:

  • Financial protection for the policyholder business in the event of an accident or damage to a commercial vehicle.
  • Coverage on vehicle damage due to theft, fire and natural disasters.
  • Personal accident cover for driver.
  • Passenger cover option.
  • Third party liability insurance

* Standard T&C Apply

Buying commercial car insurance

Before deciding to buy commercial car insurance, it is important to compare different insurance policies. Using a car insurance calculator, you can easily compare car insurance online. Using a calculator can help with all future policy issues, including the insurance renewal. You can compare different car insurance quotes and understand their coverage and premiums. When choosing a car insurance policy, you should aim to get more coverage with lower premiums. It offers comprehensive coverage at competitive prices. Comparing insurance policies online can help you find the right amount of premium. Choosing the right premium is important because it is a recurring expense. *

Apart from the premium, you should also consider other factors related to car insurance before choosing a policy. These factors include the coverage to be taken, the declared value of the car insured and the commercial car insurance policy exclusions. *

* Standard T&C Apply

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.


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