IndusInd General Commercial Vehicle Insurance
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About IndusInd Commercial Vehicle Insurance
IndusInd (formerly known as Reliance) commercial vehicle insurance protects vehicles used by businesses, such as trucks, taxis, buses, trailers, etc. The policy is designed to cover losses caused to the insured vehicle due to accidents, collisions, natural calamities, man-made disasters, and more. IndusInd General Insurance, an IIHL company, is one of the leading general insurance companies in India. It has over 125 offices and 90,000 intermediaries all over India. The company aims to offer customized solutions for each customer along with online & telecalling services.
Key Features of IndusInd Commercial Vehicle Insurance
| Features | Coverage/Benefit |
| Own Damage Cover | Yes |
| Third-Party Coverage | Yes |
| Towing Disabled Vehicle | Yes |
| Personal Accident Cover for Owner-Driver | Mandatory of up to ₹15 lakh |
| Add-Ons | Available |
Benefits of IndusInd Commercial Vehicle Insurance
The IndusInd commercial vehicle insurance has the following benefits:
- 700+ network garages across India
- Round the clock assistance and customer support
- Easy to purchase and renew
Types of IndusInd Commercial Vehicle Insurance
There are two types of IndusInd commercial vehicle insurance policies available for customers:
- Third-party Commercial Vehicle Insurance: A third-party commercial vehicle insurance policy, also called a liability-only cover, is compulsory under the Motor Vehicles Act. This type of insurance policy only provides financial coverage for legal liabilities arising from injury, death, or property damage caused to a third party by the insured vehicle. It does not cover any losses or damages incurred by the vehicle itself.
- Comprehensive Commercial Vehicle Insurance: A package policy is commonly known as a comprehensive commercial vehicle insurance policy. This type of insurance covers both own vehicle damages and third-party liabilities. It protects the vehicle against losses resulting from accidents, fire, theft, natural calamities, and other unforeseen events. Policyholders can enhance their coverage further by opting for add-on covers.
Coverage Under IndusInd Commercial Vehicle Insurance
An IndusInd commercial vehicle insurance covers the following:
- Damage or losses incurred due to riots, strikes, and malicious acts
- Any loss or damage due to natural calamities
- Losses or damages caused due to terrorist activity
- Damages due to road accidents or collisions
- Losses due to burglary, theft, or housebreaking
- Damages due to self-ignition, fire explosion, or lightning
- All third-party liabilities
IndusInd commercial vehicle insurance does not cover the following cases:
- Damage or loss because of war or nuclear risks.
- Damage or loss because of ionizing radiation.
- All consequential losses
- Damages incurred outside the prescribed geographical area
- Losses incurred due to regular wear and tear.
IndusInd Commercial Vehicle Insurance Add-Ons
A standard comprehensive policy might not be able to provide the required protection. Policyholders can choose to buy add-ons to enhance the coverage of their commercial vehicle insurance at an additional premium. The following add-ons are available with a IndusInd comprehensive commercial vehicle insurance:
- IMT 23: This add-on offers coverage for essential parts of your vehicle that are often not covered under a standard commercial vehicle insurance after deducting depreciation costs. These parts are tyres, tubes, lamps, mudguards, side panels, bonnet, bumpers, headlights, and the paintwork of damaged areas, etc.
- Accessories Cover: This add-on protects additional electrical and non-electrical accessories that were additionally fitted to your vehicle, such as fog lights, seat covers, and other non-standard parts, in case of accidental damage.
- Zero Depreciation: As your vehicle ages, it depreciates over time. Insurance companies usually deduct depreciation costs when settling claims. However, with this add-on, the applicable depreciation cost will not be applied to accidental claims, ensuring that you receive the full amount without any deductions.
- PA Cover: A Personal Accident (PA) cover of ₹15 lakhs is mandatory to cover the owner-driver in case of death or disability caused by an accident.
How To Buy IndusInd Commercial Vehicle Insurance?
Follow the steps mentioned below to buy or renew a IndusInd commercial vehicle insurance policy online:
- Go to the official website of Policybazaar Insurance Brokers Private Limited.
- Select 'commercial vehicle insurance' from the homepage.
- Fill the form with all the necessary details and submit it.
- All the available plans will be displayed.
- Choose the add-ons, NCB (if applicable), IDV, and other details.
- Select the IndusInd commercial vehicle insurance plan that fits your needs.
- Pay the premium and the policy will be mailed to you.
How to File A SBI Commercial Vehicle Insurance Claim?
Inform the Insurance Provider
Register your commercial vehicle insurance claim by calling the toll-free number of the insurer right after the incident.
Damage Inspection
A surveyor will be sent by the commercial vehicle insurance company to assess the damages caused to or by the insured vehicle.
Submit Documents
The surveyor confirms the liability and submits all the required documents to file the claim.
Claim Settlement
The insured vehicle will be repaired and the claim will be settled.
Documents Required To File A IndusInd Commercial Vehicle Insurance Claim
- Claim Form
- Vehicle RC (Registration Certificate)
- Driver's License
- Fitness Certificate
- FIR Report (if applicable)
- Repair Invoice
- Load Challan, invoices and permits
IndusInd General Commercial Vehicle Insurance FAQs
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Q1. What documents do I need to purchase a IndusInd Commercial Vehicle Insurance policy?
Ans: To buy a IndusInd commercial vehicle insurance you need the following details/documents:
- 1. Registration number
- 2. Chassis number
- 3. Engine number
- 4. Previous commercial vehicle policy number (if you have any)
- 5. Commercial vehicle manufacturing date
- 6. Contact details of the owner (phone number, address, and email)
- 7. Commercial vehicle RC.
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Q2. What is No Claim Bonus (NCB)?
Ans: No Claim Bonus is a discount offered by the insurer for not raising a claim in a policy year.. Policyholders can get up to 50% discounts and accumulate this yearly. -
Q3. What are the different types of vehicles that IndusInd General Insurance Company insures online?
Ans: You can purchase insurance for private cars online for both four-wheelers and two-wheelers. In addition to this, you can also purchase a commercial vehicle insurance policy online.
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Q4. What is the process to get my commercial vehicle insurance policy’s copy online?
Ans: For the same, you just have to log on to IndusInd website, if you have registered yourself, and if not, then get yourself registered and create your credentials with IndusInd General Insurance Company. A soft copy of your commercial vehicle insurance policy is available there for download.
Secure your commercial vehicle
Renew via self video inspection
Lowest premium starting ₹ 3,139
Standard T&C Apply.
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*Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.
“20+ insurers to choose from#” and “1.2cr+ vehicles insured#” are provided for both private cars and commercial vehicles
^Renew policy in 2 minutes is subject to operations not being impacted by a system failure, technical glitch, insurer downtime, force majeure event, or for reasons beyond our control. Actual transaction time may vary, subject to additional data requirements and operational processes.
“For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale” “All savings and online discounts are provided by insurers as per IRDAI-approved insurance plans | Standard Terms and Conditions Apply”.
+₹3,139/- excluding GST per annum is the price for third-party commercial vehicle insurance for Electric Goods Carrying E Cart 3-Wheeler (commercial).
