What to Do If Someone Damages Your Personal Truck after Borrowing?

Owning a vehicle is a big responsibility. The bigger the vehicle, the bigger is the responsibility to keep it safe. If you happen to own a truck, you not only need to maintain the truck but also need to buy insurance  for the vehicle. Why you may ask? Firstly, buying at least third party insurance for every motor vehicle is mandatory in India. Secondly, repairing any loss or damage to your truck can be really costly and can lead to major monetary losses. A commercial vehicle insurance policy can take care of any financial burden that may arise due to any loss or damages to your truck. Read more

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Motor insurance companies in India offer customized truck insurance online for people who own a truck. A truck insurance policy covers your truck against any unforeseen events that can cause loss or damages to your truck. These unforeseen events include accidents, natural calamities, fire, theft and manmade disasters. Moreover, it also provides coverage against any third party liabilities resulting from causing loss or damages to a third party and his/her property. In addition, the policy also covers the owner-driver of the truck against accidental disability or death.

However, truck insurance coverage depends on the type of policy you have purchased. If you have purchased a third party truck insurance policy, only third party liabilities arising out of your truck will be covered. But if you opt for comprehensive truck insurance online, you will be covered against third party liabilities, personal accident as well as any own damages of the truck.

What If Someone Borrows Your Truck and Damages It?

Sharing your vehicle with your relatives or friends is not uncommon in India. You may give your truck to your trusted people to help them out in case they do not have a vehicle or if their vehicle is not functional. But what if you lend your truck to someone and he/she damages the vehicle in an accident? Or what if the borrower accidentally damages someone else’s vehicle while driving your truck?

A situation like this is completely possible as accidents do not come with a warning. A minor accident with minor damages to your truck can be handled on your own. But if the damages are major, you may need the help of your motor insurance provider. The question here is if your insurer will cover the damages caused to or by your truck since you were not behind the wheel.

Well! It depends on the type of coverage you have opted for while buying your truck insurance online. But whether your motor insurer covers the damages to your truck or not, you need to inform them that you had willing lent your truck to the person responsible for causing the accident. This is important because otherwise, the insurance company will consider your truck stolen by the person who damaged the vehicle.

Now let’s understand the scope of coverage offered under your commercial vehicle insurance policy depending on the situation in which your truck was damaged.

Damages Sustained by Your Truck When the Borrower Was at Fault

If the person who had borrowed your truck is responsible for causing the accident and hence, the damages to your vehicle, two situations can arise. First, only your truck is damaged in the accident. Second, accidental damages have been caused to your truck as well as to third parties.

In the first situation, it is important that you have a comprehensive truck insurance policy. If you do, then you need to inform your motor insurer about the accident at the earliest. After you have informed your insurer that the truck was borrowed and not stolen by the person responsible for the accident, you will be required to raise a claim and follow the claim procedure. After proper verification, your insurer will most likely cover the expenses incurred on the repair of your truck.

In the second situation, you need to check if the borrower also has a commercial vehicle insurance policy for a truck. If yes, chances are that their insurance provider will pay for the damages or injuries caused to third parties. If not then your comprehensive truck insurance policy will come in handy.

You will have to raise a claim with your motor insurer after notifying you that your truck was damaged by the person to whom you had lent your vehicle. The damages caused to the third party’s property may be compensated by your insurer under the third party insurance cover. On the other hand, the damages sustained by your truck will be covered by your insurer under your own damages cover.

However, your insurance company may not pay for the third-party liabilities arising out of your truck for causing injuries to the third party if the vehicle was driven by someone else. The borrower may have to pay compensation to the victim on his/her own. However, it is best to confirm it with your insurer as the policy terms and conditions may vary from one insurance company to another.

Damages Caused to Your Truck When the Borrower Was Not at Fault

In case the person who borrowed your truck was not responsible for causing the accident and hence damaging your truck, then you need to get a hold of the driver of the other vehicle. The driver of the other vehicle will be responsible to pay for the damages to your vehicle, which may be covered by his/her motor insurer. Make sure to note down the contact details of the other driver for follow-up.

In case the other vehicle does not have a third party insurance cover, then also he/she is liable to pay for the damages sustained by your truck. Although, not having third party insurance will be a rare occurrence as it is a mandatory insurance cover for all motor vehicles in India. Still, if the other driver claims to not have motor insurance, report the matter to the police and file a complaint with the Motor Accident Claims Tribunal.

How to Raise a Claim under Truck Insurance Online?

Follow the steps given below to raise a claim under truck insurance online:

  • Inform your motor insurer about the accident at the earliest
  • Take pictures and videos of the damages sustained by the truck
  • A surveyor on behalf of your insurer may come to assess the damages to your truck
  • Cooperate and submit all the requested documents to the surveyor/ insurer
  • Based on the surveyor’s report, the insurer will accept or reject your claim

In a Nutshell

Sharing is considered a noble act and lending your truck to someone in need can be helpful to that person. But if that person damages your truck or a third party person’s property or causes injuries to a third party, then you can land yourself in some legal trouble. However, buying comprehensive truck insurance online can come in handy as you will be covered for such situations, except for the third party injuries caused by the borrower with your truck.

Nonetheless, it is advised to check with your motor insurer about the extent of coverage in case someone else causes a wreck while using your truck.

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