For those running a business that requires the need of vehicles, having a commercial vehicle insurance policy is an investment. A commercial vehicle insurance policy is mandatory as per the Motor Vehicles Act, 1988, and protects one’s business from any sort of loss involving the vehicle. A commercial vehicle insurance policy financially protects the vehicle owner in the case of an accident, as it offers coverage for the damages caused to the vehicle as well as offers coverage for the vehicle of the third party involved in the accident. In addition, a comprehensive commercial vehicle insurance plan offers coverage for both the involved parties in case of any bodily injury, disability or death. Listed below are the nuances of a commercial vehicle insurance.
Listed below are some of the key benefits of a commercial vehicle insurance:
Listed below are some of the circumstances where a commercial vehicle owner can make an insurance claim:
Policyholders cannot make a claim based on the below-listed circumstances:
Listed below are some of the popular insurance companies offering insurance policies for commercial vehicles:
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