Edelweiss Commercial Vehicle Insurance

Edelweiss commercial vehicle insurance policy is designed for both goods carrying and passenger carrying vehicles. Edelweiss General Insurance Company provides access to 1500 cashless garages to its customers. The claims are settled quickly and priority services are provided at their preferred workshops.

Edelweiss General Insurance Company Limited understands their customer needs, and provide them with a comprehensive commercial vehicles package insurance so that the insured vehicle is protected when it’s needed the most.

Inclusions of Edelweiss Commercial Vehicle Insurance Policies

Edelweiss commercial vehicle insurance policy provides two types of coverage benefits

  • Third-party Liability Insurance
  • Comprehensive Package Insurance
  • Personal Accident Cover

Edelweiss Third-party Commercial Vehicle Insurance:

Third-Party Commercial vehicle Insurance protects the insured against any third party legal and financial liabilities arising due to an accident with the insured vehicle.

Third-Party Insurance offers limited coverage. It includes bodily injuries, property damage, and death of a third party. Commercial vehicle insurance premium for 3rd-party insurance is lesser than a comprehensive insurance policy.

Inclusions of third-party liability insurance:

  • Liabilities towards damage to the third-party vehicle involved in the accident
  • Liabilities towards bodily injuries to the third-party individual or occupants involved in the accident
  • Legal liabilities caused to non-fare paying passengers
  • Third-party property damage cover is provided up to Rs 7.5 lakh

Additional Covers at Extra Cost:

  • Personal accident cover for the occupants of the motor vehicle up to Rs 2 lakh per person
  • Additional legal liability cover for your Paid Drivers, Employees other than a paid driver, who are travelling in the vehicle
  • Liabilities arising due to use of LPG/CNG bi-fuel kit

Exclusions of the Edelweiss Third-party Commercial Vehicle Insurance:

Third-party commercial vehicle insurance does not cover the following -

  • Damage Caused to the Insured Vehicle – Edelweiss third-party commercial vehicle insurance doesn’t cover the loss, damage, and theft of the policy holder’s vehicle.
  • Injury to self - During an accidental collision, the policyholder doesn’t get any compensation for his own damage. Only the damage caused to a third-party is covered.

Edelweiss Comprehensive Commercial Vehicle Insurance:

Edelweiss comprehensive commercial vehicle insurance, as the name suggests, is an extensive motor insurance policy with extra benefits.  Apart from third party insurance cover, it also compensates for the loss or damage caused to the insured vehicle. It also covers theft of the insured vehicle.

It is recommended to buy a comprehensive commercial motor insurance policy as it covers both own damage and third-party damage.

Coverage/Inclusions of Comprehensive Commercial Vehicle Insurance Policy:

  • Loss or damage due to natural disasters such as lightning, earthquake, flood, typhoon, hurricane, storm, landslide, cyclone, etc.
  • Loss or damage caused by man-made disasters such as burglary, theft, riots, strike, or terrorist activities.
  • Towing Disabled Vehicles- When the insured vehicle insured is used for towing anyone mechanically propelled disabled vehicle, the policy covers third-party liabilities arising during the course of towing as per the vehicle’s indemnity limits.
  • Damages to the vehicle while in transit by road, water or train.
  • Personal accident cover including the accidental demise of the driver and permanent disabilities resulting due to an accident. Some motor insurance providers also provide optional insurance coverage for the co-passengers.

As comprehensive insurance provides wide coverage, it is the first pick despite the higher premiums. Edelweiss commercial vehicle insurance premiums for comprehensive insurance are usually higher as compared to a third-party insurance policy. It is suggested for every goods carrying or passenger-carrying vehicle owner to stay protected with an all-inclusive insurance policy.

Comprehensive vehicle insurance also covers-

  • Liabilities towards the damages caused to the third-party vehicle involved in the accident
  • Liabilities towards the injuries caused to the third-party involved in the accident

Exclusions of Comprehensive Commercial Vehicle Insurance Policy:

  • This type of vehicle insurance does not offer any coverage if the accident occurs while driving under the influence of alcohol
  • A vehicle being driven by an individual not holding a bona fide driving license
  • Mechanical breakdown or wear and tear of the vehicle
  • Loss or damage of vehicle tyres unless the vehicle is also damaged

Personal Accident Cover

The personal accident coverage limit is up to Rs 15 lakh. In case of injuries sustained by the driver or owner of the insured vehicle while driving it or mounting or dismounting from it, the coverage for any injuries or death resulting within initial 6 months from the incidence shall be compensated as mentioned in the table below -

Type of Injury

Compensation Provided

Accidental Death

100%

Loss of either or both the eyes and limbs

100%

Loss of one eye or limb

50%

Permanent or total disabilities

100%

On payment of an additional premium, you can get personal accident cover for the unnamed passengers (other than insured). The compensation for the same shall be compensated as mentioned in the table above.

Add-on Covers

To enhance your policy coverage you can opt for the following coverage benefits by paying an additional premium:

  • Coverage for CNG/LPG bi-fuel kit that is installed in the insured vehicle
  • Coverage for Electrical or Non-electrical fittings in the insured passenger-carrying vehicle
  • Personal accident cover for unnamed passengers up to a limit of RS 2 lakh per person
  • Extension of the scope of geographical cover to the neighboring countries of Nepal, Bangladesh, Pakistan, Bhutan, Maldives, and Sri Lanka
  • Coverage for tyres, lamps, tubes, side parts bumpers mudguards, bonnet, headlights, and paintwork of only the damaged portion
  • Fibreglass fuel tanks
  • Legal Liability cover for paid drivers and non-fare paying passengers/employees travelling in the vehicle
  • Extension of Geographical Area

No-claim Bonus

No-claim that is available shall be as per the table given below:

Claim-free Years

Percentage of Discount on Own-Damage Premium

No-claims till one-year

20%

No-claims till two-years

25%

No-claims till three-years

35%

No-claims till four-years

45%

No-claims till five-years

50%

Benefits of Buying Edelweiss Commercial Vehicle Insurance Online

One of the greatest benefits of purchasing an Edelweiss commercial vehicle online is that you do not have to run from pillar to post. In the comfort of your home or workplace, you can get your vehicle insured.

The process is also quite convenient and simplified. You can compare various insurance plans online on Policybazaar.com, check the policy features and benefits, and pick the one that meets most of your needs. 
Using an online vehicle insurance premium calculator, you can calculate Edelweiss commercial vehicle insurance premium within seconds. It gives you a fair idea of the expenses and accordingly you can choose the plan.

If you purchase Edelweiss commercial vehicle insurance online, you can avail benefits like- secure payment gateway and insurance renewal reminder.

You can easily pay the policy premium using online payment options like a credit card, debit card, net banking, and UPI.

Edelweiss Commercial Vehicle Insurance Renewal

The policy can easily be renewed online on Policybazaar’s website and the process is given below:

  • Enter your vehicle number
  • View commercial vehicle insurance prices
  • Select your City and the RTO
  • Get the vehicle insurance quotes and premium estimate based on the details provided
  • Enter personal details like the policyholder’s name, address, geographical location, contact number, etc.
  • Pay online and the policy will be mailed to you

Edelweiss Commercial Vehicle Insurance Claim Settlement

The insurer provides an immediate intimation of the claim number to the insured over email/message.

  • For each claim, a dedicated claims person is allotted
  • The surveyor is appointed on the same day
  • Letter of requirement is provided within 3 days from the insurer or the surveyor with simple documents
  • Edelweiss commercial vehicle claim settlement is done within 7 days of receiving the final documents
  • The payment details are then communicated to the policyholder
  • Edelweiss General Insurance has a robust grievance handling team to ensure an immediate solution to your claim related queries

Edelweiss Commercial Vehicle Insurance FAQs

Written By: PolicyBazaar - Updated: 27 December 2020
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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