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Tata AIG Commercial Vehicle Insurance

TATA AIG commercial vehicle insurance is designed to offer protection to commercial vehicles like trucks, tractors, buses, auto-rickshaws, etc, that are used for business activities, in case of an unforeseen event such as road accidents, theft, fire, natural disasters, etc. Getting at least a third party commercial vehicle insurance is mandatory as per the Motor Vehicles Act. You can purchase a TATA AIG commercial vehicle insurance via Policybazaar or the official website directly. Read more

About Tata AIG Commercial Vehicle Insurance Company

Tata AIG General Insurance Company Limited is a joint venture between the Tata Group and the American International Group (AIG). It provides insurance in several sectors such as Travel Insurance, Marine Insurance, Liability, etc.

The company also has a special feature called 'Go Digital' that helps users in buying insurance products online easily.

Key Features of Tata AIG Commercial Vehicle Insurance

Features	Coverage/Benefit
Third Party Coverage	Yes
No Claim Bonus Benefit	Yes
Towing Facility for Mechanically Disabled Vehicles	Yes
Personal Accident Coverage	Up to Rs. 15 Lakh

Benefits of TATA AIG Commercial Vehicle Insurance

Policyholders can avail the following benefits if they buy a TATA AIG Commercial Vehicle Insurance

TATA AIG offers a hassle-free online claim intimation process.
You can also make changes to your commercial vehicle insurance policy and update your contact details online when necessary.
TATA AIG has an easy claim process with 650+ claims experts to help you file a claim easily.
They offer several add-on covers to enhance insurance coverage for your commercial vehicle.

Coverage Under the Tata AIG Commercial Vehicle Insurance

What is Covered?
What is not Covered?

The policyholder gets compensation from the insurer for claims arising from:

Damages caused to third party and third party property
Losses occurred due to fire explosion, self ignition, lightning
Total or partial loss in case of burglary, house breaking, or theft
Damages sustained due to natural or man made disasters
All accidental damages due to collisions or road accidents
Damages caused due to malicious or terrorist activity
Losses occurring to the insured vehicle while in transit via rail, water, air, or road

The insurer is not liable to compensate the insured if the claim arises due to the following reasons:

Damages occurring due to consequential loss
Losses due to depreciation, regular wear and tear
Mechanical or electrical breakdown sustained by the insured vehicle
Damages caused due to overloading
Any accidental loss or damage caused when the person is driving under the influence of intoxicating liquor or drugs
Any accidental loss or damage and/or liability caused outside the Geographical Area

TATA AIG Commercial Vehicle Insurance Add-Ons

You can get additional covers for your TATA AIG commercial vehicle insurance for enhanced coverage at a nominal premium. Some of these coverages are mentioned below:

IMT 23: The IMT 23 cover is an extended cover that protects damages caused to excluded items like lamps, tyres, tubes, mudguards, bonnet, side parts bumpers, headlights and paintwork of damaged portions in a road accident. They cover total or partial damages caused to these parts after deducting the depreciation.
IMT 24: IMT 24 covers the insured against loss of or damage of electrical and/or electronic fittings that are not a part of the manufacturer's model.
Depreciation Reimbursement: With this add-on, the insurer will pay the amount of depreciation deducted on the value of parts replaced under an own damage claim. Usually while filing for an accidental claim, the insurer deducts the depreciation cost which increases every year. However, with this add-on, you will be reimbursed for the whole amount without deducting the depreciation.
PA Covers: In case of an accident, TATA AIG commercial vehicle insurance will also compensate for bodily injury or death of the owner-driver. As per the Motor Vehicle Act, having a personal accident (PA) cover is legally mandatory in India.

How to Renew TATA AIG Commercial Vehicle Insurance?

It is legally mandatory for all commercial vehicle owners to have a commercial vehicle insurance. Hence, it is very important to renew your expired commercial vehicle insurance to avoid not only the legal matters but also for its increased protection against any unforeseen financial losses. You can renew your commercial vehicle insurance online from Policybazaar.com using the steps mentioned below.

Step 1: Visit policybazaar.com and click on 'commercial vehicle insurance' from the homepage
Step 2: Enter your vehicle registration number.
Step 3: Provide all the necessary details asked, select the IDV and choose the add-ons.
Step 4: Choose the Tata AIG commercial vehicle insurance plan.
Step 5: Pay the premium using netbanking/cards/UPI.
Step 6: Get your policy instantly on your registered email.

How to File a Claim Under TATA AIG Commercial Vehicle Insurance?

Inform the Insurer

Inform the insurer regarding the accident and file a claim.

Surveyor Assessment

A surveyor will be sent to examine and assess the damages.

Document Submission

Submit the required documents such as claim form, RC, Driving License, Permits, etc. If there is theft, bodily injury, or property damage you must file a FIR with the police within 48 hours.

Claim Settlement

Once all documents are submitted and the vehicle is sent to the authorised network garage, it will be repaired and the insurer will directly settle the claim. You can also file a reimbursement claim, wherein the claim amount will be reimbursed once the repairs are done.

Documents Required to Raise a Claim Under TATA AIG Commercial Vehicle Insurance

To file a claim under the TATA AIG commercial vehicle insurance, you must submit the following documents:

Registration Certificate
Driving License
Claim Form
Fitness Certificate
State/National Permit
Authorisation Certificate
Load Challan / Goods Receipt / Invoices for Material loaded (in case the vehicle was loaded at the time of accident)
Final Repair Invoice
FIR /Police Report (in case of theft or third party injuries)

FAQs

Q1. How do I claim my Tata AIG commercial vehicle insurance?

Ans: To file a claim against your commercial vehicle insurance, you must intimate the insurer and file your claim.
Q2. What is covered under commercial vehicle insurance?

Ans: The TATA AIG commercial vehicle insurance protects your commercial vehicle such as trucks, lorries, buses, taxis, etc, from unforeseen events and situations such as accidental damages, fire, theft, natural calamities, etc.
Q3. What is zero dep insurance under commercial vehicles?

Ans: Each year, the value of your vehicle depreciates and your insurer deducts the depreciation while settling a claim. The zero dep cover ensures that the insured commercial vehicle recovers the full costs of the parts without deducting the depreciation in case of an accident.

Q4. How is commercial vehicle IDV calculated?

Ans: IDV is the maximum amount the insurer will pay in case your commercial vehicle is stolen or damaged beyond repair. You can calculate the IDV using this formula:

IDV= (Manufacturer's listed selling price - depreciation) + (Accessories not included in listed selling price - depreciation)

View more FAQ’s

Written By: PolicyBazaar

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Disclaimer: The list mentioned is according to the alphabetical order of the insurance companies. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in