116 When we talk about commercial vehicle insurance, it refers to the vehicles that are used for commercial purposes and not for personal use. Vehicles like buses, trucks, auto/rickshaws, agricultural vehicles, taxis/cabs, ambulances, etc. come under the commercial vehicle category. In addition, bulldozers, cranes, and trailers also come under the same category. These are listed as heavy commercial vehicles. Table of Contents Importance of Buying a Commercial Vehicle InsuranceInclusions and Exclusions Under Commercial Vehicle Insurance Policy?Difference Between Third-Party Commercial Insurance & Comprehensive Commercial InsuranceAnywhere, Anytime insurance with the Bajaj Finserv App Importance of Buying a Commercial Vehicle Insurance You will need commercial vehicle insurance if you are in the business of transportation. In India, third-party insurance under the Motor Vehicles Act, 1988 is mandatory. Hence, it makes a necessary for you to get your commercial vehicle insured to avoid penalties. Inclusions and Exclusions Under Commercial Vehicle Insurance Policy? If you are planning to purchase a commercial vehicle insurance policy, we suggest that you go through the inclusions and exclusions of the policy before making the final purchase. Here we have listed all the inclusions and exclusions under the policy. Have a look at the following: InclusionsExclusionsDamages caused due to a malicious act and not by the owner.Insured vehicle faces damage due to mechanical or electrical breakdown.Damages caused due to fire or explosion.Damage caused to the vehicle when driving under the influence of alcohol.Damage caused due to an accident to the insured vehicle.Consequential losses.Damage caused to the insured vehicle due to terrorist activity.Damage caused when driving without any valid car documents.Damage caused due to man-made calamities like riots, vandalism, etc.Intentional damage.Damage caused to the vehicle while it was transported through water, land, or rail.Damage caused when involved in criminal activity.Insured vehicle being stolen.Damage caused due to road accident.Damage caused due to natural disasters like floods, earthquakes, landslides, cyclones, hurricanes, frost, hailstorms, etc. Difference Between Third-Party Commercial Insurance & Comprehensive Commercial Insurance When planning to buy a commercial insurance plan, there is constant confusion about which policy to buy – Third-Party Commercial Insurance or Comprehensive Commercial Insurance. So, to help you decide what’s best according to your requirements and budget, we have listed a few pointers below: Third-Party Commercial InsuranceComprehensive Commercial InsuranceLower premium priceWider coverageOffers coverage for third-party claimsOffers coverage for both third-party claims and own damage claimsCoverage for third-party injury & death due to accidentCoverage for more than just accidental damages (option to buy rider covers)Coverage for third-party property damageCoverage for damages due to natural or man-made calamities.No coverage is offered in case of damage caused due to theft or fireCoverage offered for loss occurred due to fire or theftNo option to include rider coversOption available to buy add-on covers In conclusion, Now that you are aware of commercial vehicle insurance, you can easily plan to make a purchase. We hope that this article provided all the important details regarding the commercial vehicle insurance policy. If you want to explore more motor insurance policies, you can visit our Bajaj Finserv app. Anywhere, Anytime insurance with the Bajaj Finserv App The Bajaj Finserv App is a high utility App that takes care of all your financial needs including insurance. On the app, you can explore benefit-rich health insurance plans from our trusted partners. Here you can view product features, compare prices and purchase a plan that is best suited to your needs. All this in a matter of minutes and from the comfort of your home. It truly is becoming the new way to buy insurance. 0 comment 0 FacebookTwitterPinterestEmail Uneeb Khan Uneeb Khan CEO at blogili.com. Have 4 years of experience in the websites field. Uneeb Khan is the premier and most trustworthy informer for technology, telecom, business, auto news, games review in World. previous post How and Where to Store a Stroller next post Best Skin Care Products Review 2022 Related Posts The Dos and Don’ts of Corporate Gifting in... 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