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    Commercial Vehicle Insurance

    Did you know that India is known for being one of the world's busiest countries when it comes to road traffic? Nearly millions of new car registrations were recorded every year. Indian roads bear a significant burden of the country's transportation, carrying almost 90% of passenger traffic and around 65% of goods. The rise in automobile usage has made road safety a top priority for citizens across the country.
    Around thousands of fatalities are recorded in a year involving accidents from all types of vehicles, including commercial ones. The damages caused to commercial vehicles due to unforeseen circumstances can affect the business and can cause significant financial loss. However, one can protect their business from such losses by getting commercial vehicle insurance.
    Best commercial vehicle insurance- DgNote Technologies Pvt. Ltd.
    Best commercial vehicle insurance- DgNote Technologies Pvt. Ltd.

    What is Commercial Vehicle Insurance?

    Commercial vehicle insurance is a type of insurance plan that protect businesses that use vehicles for their operations. It protects you financially against losses caused by accidents, theft, or damage to your commercial vehicles by insuring vehicles such as pickup vans, passenger vans, trucks, taxi, auto rickshaws, miscellaneous vehicles, buses, school buses, etc.
    Insurance cover damages to both the commercial vehicle and its drivers, including injuries and even fatalities. It also provides protection for businesses against liabilities that may arise from accidents or damages to third-party properties, injuries, or accidents.

    Why is Commercial Vehicle Insurance important?

    Commercial vehicle insurance is necessary for businesses that own and operate vehicles for work-related purposes.
    Here are some reasons why commercial vehicle insurance is essential

    What are the Types of Commercial Vehicles?

    Passenger carrying vehicle insurance
    This type of policy covers vehicles that carry passengers such as commercial cars/taxi/cabs, auto rickshaws, school or tourist buses. Passenger carrying vehicles has huge liabilities of lives of their passengers and hence always need protection against any liabilities arising out of any unfortunate incident.

    Types of vehicles covered :

    E-rickshaw – Battery operated three wheelers e rickshaws
    Auto Rickshaw – Three-wheeler petrol or CNG auto rickshaws which are mostly used for carrying passenger for short distances
    Commercial Car – Taxis, cabs or commercial cars which are mostly used for app-based transport such as ola/uber and other tourist transportation
    School Van or Passenger Van – Mini vans such as Tata Ace Magic, Mahindra Supro are mostly used to carrying passengers (school children or for local transport).
    School Bus or Passenger Bus – Buses used for transporting students or people
    Passenger carrying vehicle - DgNote Technologies Pvt. Ltd.
    Goods carrying vehicle - DgNote Technologies Pvt. Ltd.
    Goods Carrying Vehicle insurance
    Goods carrying vehicles are used for transporting public or private goods from one place to another. Trucks, pickup, delivery van, goods carrying three wheelers come in this category. Goods carrying vehicles perform heavy duty tasks and has very high chances of damages to or from insured vehicle and hence commercial vehicle policy is a must have to protect all parties in any unfortunate incident.


    Three-Wheeler Tempo
    Pickup Or Small Trucks such as Tata Ace, Mahindra, Bolero etc.
    Miscellaneous & Special Vehicles Insurance
    Miscellaneous vehicle insurance policy provide coverage against the damages caused to or by miscellaneous vehicles such as tractor, JCB, cranes and other special type of vehicles. Miscellaneous vehicles are vehicles which are not used for transporting goods or carrying passengers but for other works such as construction or in emergency services such as ambulance or fire suppressing vehicles.

    Types of vehicles covered :

    Tractors used for agriculture purpose.
    Construction vehicles such as JCB, Cranes etc.
    Fire Brigade
    Machine mounted vehicles.
    Misscellaneous and special vehicles insurance - DgNote Technologies Pvt. Ltd.

    What are the Types of Commercial Vehicle Insurance?

    Third-party commercial vehicle insurance - DgNote Technologies Pvt. Ltd.

    Third-Party Commercial Vehicle Insurance

    Third-Party policy covers the damages to third-party properties or injuries or death of other persons involved in an accident with the insured. As per Indian laws, having at least third-party insurance to drive a vehicle in India is mandatory. Third-party insurance is recommended to vehicle owners if the car is very old and has a low IDV compared to the premium being paid or if it's driven very less.
    Comprehensive insurance - DgNote Technologies Pvt. Ltd.

    Comprehensive Insurance

    It covers both third-party damages and own vehicle damages in case of any accident, theft or fire. Buying a comprehensive policy for your commercial vehicle is not mandatory, but it's always advisable to opt for it because of the limited coverage provided in third-party-only policies. A comprehensive policy will cover the insured vehicle against any partial or total damage due to any accident or external means, such as riots or natural calamities. Hence, it is advisable to buy a comprehensive package policy.
    Commercial Vehicle Insurance Policy – Inclusions Coverage
    Accidents – Provides coverage against the damages to or by a commercial vehicle in case of an accident.
    Fire – Losses or damages caused to commercial vehicles in case of fire are covered
    Theft – If stolen, this policy ensures coverage for the loss of the vehicle if it cannot be tracked.
    Natural Calamities – Covered losses due to natural disasters such as floods, lightning, and storms that can cause considerable damage to vehicles.
    Third-Party Losses – An injury or deaths of third parties are covered
    Towing Disabled Vehicles – Covered any damages to or by the vehicle while being towed.
    Commercial Vehicle Insurance Policy – Exclusions Coverage
    General wear and tear
    Any loss or damage to the vehicle due to war, invasion or nuclear warfare etc
    Mechanical or electrical breakdown of the vehicle
    Any loss or damage caused outside the geographical area of coverage as mentioned in the policy
    Usual depreciation of the value
    Non-accidental losses
    Any loss that occurred to the commercial vehicle while using it for racing or any illegal purposes
    Any losses occurred while drunk driving the vehicle
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