Bharti AXA Commercial Vehicle Insurance

Bharti AXA General Insurance Company Limited is a joint amalgamation between one of the renowned Indian business group namely Bharti Enterprises and AXA, which has established its name in the business of financial protection and wealth management respectively.

Bharti AXA General Insurance Company offers various insurance plans catering to the needs of different people and meeting their prerequisites. The plan differs from motor insurance, health insurance, travel insurance and other products.

Bharti AXA commercial vehicle insurance provides comprehensive coverage against any loss/damage caused due to natural calamities, man-made calamities, malevolent acts, and so on.

Bharti AXA commercial vehicle insurance also provides liability coverage for a third-party in case of any injury/death or property damage caused to the third-party by the insured vehicle.

Why Bharti AXA Commercial Vehicle Insurance Plans Are Necessary

If one runs a business, which involves the use of a commercial vehicle then it becomes imperative to buy Bharti AXA commercial vehicle insurance and secure oneself from any financial implications, which might incur on the event of an unfortunate accident/mishap.

Commercial vehicles are essentially heavy-duty vehicles, which includes bus, trucks, bulldozer, carrier, cranes, tractors, etc. and are prone to road accidents and damages. When a vehicle provides one with finances to live a life and helping one to meet the daily expenses, then it is the responsibility of the vehicle–owner to secure the wheels from any sort of odds, as any loss/damage will affect the functioning and movement of the business.

The following are some reasons to avail commercial vehicle insurance, which are:

  • Having commercial vehicle insurance provides comprehensive coverage in case of any emergencies against damage/loss caused due to an accident/mishap.
  • Provides coverage in case of any uncertainties leading to loss/damage to third-party.
  • If required, provides coverage to the driver and owner of the vehicle in case of any mishap leading to the death or lifetime disablement.

Features of Bharti AXA Commercial Vehicle Insurance

Having achieved two international certificates within the initial year of its operation, Bharti AXA Company shows the achievement the company has attained. Moreover, it has earned a name when it comes to satisfying the insurance needs of the customers and maintaining quality and ease in the claim process.

A commercial vehicle is a high-value asset, which makes it important to cover it from any odds. Given below are the benefits of buying Bharti AXA commercial vehicle insurance:

  • Cover Against Natural Calamity: It provides extensive coverage in case of any damage caused due to any natural calamity, which includes terrorism, earthquake, flood, cyclone and inundation.
  • Cover Against Man-Made Calamity: On the off chance, if a mishap occurs, which leads to the damage because of any man-made calamity, which includes fire and ignition, robbery, theft or house-breaking then coverage for the equivalent shall be provided.
  • Cover Against Malevolent Acts: If any damage occurs due to any malevolent acts such as riot, strike and terrorism then under such perilous situations coverage for the same will be provided.
  • Cover During Transit: If the damage occurs whilst in transit by road, rail, air, lift or an elevator then the same will be covered under the commercial vehicle insurance plan.
  • Cover for Third-party: In case of any damage, which leads to the injury/death or property damage to the third-party then under such circumstances, a third-party liability cover will secure one from such implications.
  • Cashless Garage Facility: In case when a commercial vehicle meets with an accident, the help of this benefit, takes care of the expense incurred for the repair of the vehicle, and provides coverage for the equivalent.
  • Quick Claim Settlement: It provides a hassle-free and instant claim settlement process and is taken care of on priority. Moreover, one can get to know the status of the claim made via SMS alerts through the company’s customer support team.
  • Round-the-clock assistance: In case of any queries or dilemma, one can always get in touch with the reliable customer care assistance round-the-clock and get the doubts cleared.

Inclusions Under Bharti AXA Commercial Vehicle Insurance

Below does Bharti AXA General Insurance Company offer the contingencies that are covered in Bharti AXA commercial vehicle insurance policy:

  • Cover for Electrical/Non-Electrical Accessories: It provides coverage against any loss/damage to any electrical or non-electrical accessories.
  • Cover for Personal Accident: Coverage is provided in case of any injury, death or permanent disability to the insured or named/unnamed passenger.
  • Cover for Legal liability: The policy can be extended and provide cover if in any case, any legal liability arises to the person’s employees, for example, paid drivers/cleaners, workers of the insured other than the paid drivers and to passengers who have paid or not paid the fare.

Additional Coverage Offered by the Bharti AXA Commercial Vehicle Insurance

With an additional cover, one may opt to enhance the Bharti AXA commercial vehicle insurance. The following is the add-on cover:

  • Zero Depreciation Cover: This cover can be bought on the condition that the commercial needs be a minimum of 2 years old. Besides, the vehicle shall be repaired at the garages/workshop authorized by the company. This cover provides expenses related to repairing of rubber, tyres, airbags, fibreglass, batteries, plastic and nylon parts.

Exclusions Under Bharti AXA Commercial Vehicle Insurance

Some of the major exclusions under Bharti AXA commercial vehicle insurance are as follows:

  • Wear and Tear: Any claim arising due to wear and tear of the vehicle is excluded under this plan.
  • Consequential Loss: If in any case, the damage to the insured vehicle is caused because of a certain action either by the policyholder or third-party, for example, hydrostatic loss, etc. and, which is not covered in the policy schedule then any claim arising from the same are excluded.
  • Illegal driving: If any damage occurs under the influence of alcohol or on the off chance, one does not have the legal permit to drive on the roads of India.
  • Otherwise Usage: Any damage occurring when a private vehicle is used otherwise for commercial purpose, for example, a private car when used as a taxi and so on.
  • Civil/Nuclear Wars: Any claim arising due to damage/loss caused due to war, civil war or any war/nuclear-related perils are excluded.
  • Mechanical/Electrical Breakdown: Any claims arising due to mechanical or electrical breakdown of the commercial vehicle including the breakage or failure of the vehicle.
  • Contractual Liability: Any claims arising out of the reasons outside the policy contract are excluded.

Claim Process for Bharti AXA Commercial Vehicle Insurance

Have a look below, at the gradual guide, which will help the customers to raise and settle their Bharti AXA commercial vehicle insurance claims whenever required:

Step1 - Registering the Claim

To register the claim, the customer needs to call on the toll-free number of the company.  The customer must provide all necessary details as asked by the customer care executive to register the claim with correct information.

If the customers want to make a claim online, the customer can do so by logging on to the website of the company, downloading the claim form and filling it up. The claim form asks for important information such as contact number, number of the engine, date and time of the accident, relevant description and location of the accident, vehicle inspection address and so on.

Once the claim is registered, the customer care executive will provide the customer with the claim reference number. Now, this number is imperative as it helps one to know the status of the claim filed. Besides, the company will constantly be in touch with the customer and will update on the claim process at every level of the procedure via SMS. In case, if the customer does not receive an SMS from the company, the customer may get in touch with the customer care support by calling on the toll-free number and quote the claim reference number and be informed about the status of the claim.

Step 2 – Sending Damaged Vehicle for Repair

When the commercial vehicle gets damaged, it is of utmost importance to take it to a garage. Depending upon the wish of the customer, either the customer may take the vehicle to the nearby garage himself or the vehicle can be towed till garage to avoid any further damage to the commercial vehicle.

In case of theft of the commercial vehicle, the customer on the priority needs to file an FIR and simultaneously inform Bharti AXA General Insurance company as soon a possible. In case if the vehicle is not found within 90 days then the customer should obtain a Non-Traceable Report from the police authorities. Once the customer has the non-traceable report, the same needs to be submitted to the company after, which the claim settlement process will commence.

Step 3 - Survey and Claim Settlement

The customer needs to submit a copy of the following documents:

  • Signed claim form by the insured
  • Registration certificate of the vehicle
  • Self-attested copy of the driving license
  • Copy of the policy document
  • First Information report
  • Original Estimate
  • Invoice of repair
  • Receipt of payment

Note: The requirement of documents may vary depending upon the circumstances.

Bharti AXA Commercial Vehicle Insurance FAQs

  • Q1. What is a commercial vehicle insurance policy?

    Commercial vehicle insurance essentially protects against any loss/damage caused to the owner, vehicle or third-party in case of any unfortunate mishap/accident from any fiscal cost. Commercial vehicles are essentially segregated into two, which are passenger-carrying vehicle and goods carrying vehicle.

  • Q2. What are the modes of payment available to buy Bharti AXA commercial vehicle insurance?

    Bharti AXA commercial vehicle insurance provides the customer with different modes to pay the premium amount for the same, which are:

    • Online Payment
    • Through cash or cheque at banks
    • Auto debit with a mandate

    The policyholder needs to sign the mandate, which the company provides at the time of signing the policy. Moreover, one also has an alternative wherein the amount ca be directly paid to the account either through a cheque, cash or via net banking.

  • Q3. What are the benefits of buying Bharti AXA commercial vehicle insurance?

    The following are the benefits of buying Bharti AXA commercial vehicle insurance:

    • It provides coverage against man-made calamity, natural calamity and any malicious acts.
    • A reliable round-the-clock customer support service.
    • Quick claim settling process.
    • Cover for legal liability
    • Cover for electrical and non-electrical accessories
    • Cashless garage facility.
    • Cover for personal accident, and so on.
  • Q4. What are the limitations of Bharti AXA commercial vehicle insurance?

    The following are the limitations which are not included under Bharti AXA commercial vehicle insurance:

    • Wear and Tear
    • Consequential loss
    • Contractual liability
    • Illegal driving
    • Civil/nuclear war
    • War/nuclear-related perils
    • Mechanical/electrical breakdown
  • Q5.What is the policy renewal process for Bharti XA commercial vehicle insurance?

    In case, if one wishes to renew Bharti AXA commercial vehicle insurance then if the policy has been bought online one needs to visit the official website of the provider and pay the amount which is due for Bharti AXA commercial vehicle insurance. Remember, one will get a reminder SMS of the due date.

  • Q6. What is the process to settle the claim for Bharti AXA commercial vehicle insurance?

    While registering a claim for Bharti AXA  commercial vehicle insurance the following information will be required:

    • Name of the Policyholder
    • Policy Number
    • Location of the accident
    • Date of the accident
    • Details of damage in a brief
    • Contact details of the policyholder
    • Details of the driver who was driving the vehicle during the accident.
    • Details of the garage where the vehicle will be inspected.
    • Relevant Details of the people who sustained injuries in the accident.
    • Details of the hospital where the victims have been admitted or are given first-aid.
Written By: PolicyBazaar - Updated: 20 August 2020

Commercial Vehicle Insurance Articles

Beginner’s Guide - Auto-rickshaw Insurance

Beginner’s Guide - Auto-rickshaw Insurance

Running a business, which requires the usage of commercial vehicles, is a common sight in India. Besides, having the right commercial vehicle insurance is recommended and is useful to ensure the smooth operation of the business. It is imperative to...
All you need to Know about Third Party Commercial Auto Insurance

All you need to Know about Third Party Commercial Auto Insurance

A third-party commercial vehicle insurance policy covers risks arising due to third party liabilities such as third-party vehicle damage, third-party bodily injury. It offers the desired protection in the event of any legal liability related...
All about Commercial Vehicle Insurance in India

All about Commercial Vehicle Insurance in India

Compared to old times today the business operates efficiently as we have excellent modes of transportation. If a vehicle is providing you with an income of livelihood you definitely will not want in anything happening to your vehicle, as any damage...
7 Things You Should Know About Commercial Vehicle Insurance

7 Things You Should Know About Commercial Vehicle Insurance

When you own a business, you already have a lot on your plate to think about which leads to anxiety and stress. Buying commercial vehicle insurance will secure you from any commercial vehicle perils that may happen. Secure yourself and your business...
Demand of Commercial Vehicle Insurance in India

Demand of Commercial Vehicle Insurance in India

Commercial vehicles are a common sight on the roads of India. If you own a commercial vehicle and if the vehicle meets with an accident, it can affect you financially as well as from the perspective of your business. Moreover, it could also lead to...