Eicher Insurance

Eicher Insurance Price

The following table highlights some of the popular Eicher commercial vehicle models along with their gross vehicle weight and third party insurance premium.

*Disclaimer: The third-party insurance premium mentioned above is fixed by the IRDAI and is based on the gross vehicle weight. The premium may increase if you choose a comprehensive policy and add-ons.

Reasons to Buy Eicher Insurance Policy

Here are the reasons to buy a commercial vehicle Insurance policy:

• Legal Obligation: Having an Eicher insurance policy is legally compulsory under the Indian Motor Vehicle Act. You cannot use your commercial vehicle unless you have a third party insurance cover.
• Financial Protection: An insurance policy provides you with a financial backup against any damages or losses caused due to third party liabilities, road accidents, natural or man-made disasters, terrorist activities, theft, fire, etc.
• Enhanced Coverage: A comprehensive insurance for your Eicher vehicles will ensure that both third party liabilities and damages caused to your own vehicle are covered, thus providing you with enhanced protection.

Types of Eicher Insurance Policy

1. Eicher Third-Party Insurance

   As per the Motor vehicle Act, 1988, it is mandatory to have at least a third-party commercial vehicle insurance. The policy only covers any loss or damage incurred to any third-party person or property. However, with a third party insurance, you cannot get coverage for damages incurred by the insured vehicle.

2. Eicher Comprehensive Insurance

   This is an optional insurance policy for commercial vehicles and it is not compulsory to have this policy. However, it is always advantageous to insure a commercial vehicle with a comprehensive insurance policy. This is because a comprehensive Eicher Insurance policy offers coverage for losses and damages caused to own vehicle and third-party person or property as well. Eicher insurance comprehensive policy covers the insured commercial vehicle against damages caused due to natural calamities and man-made disasters. It also provides insurance coverage for third-party liabilities arising due to injury, death, or property damage caused to any third party by the insured commercial vehicle.

Eicher Insurance Policy: Add-Ons

Additional covers provide add-on benefits over the basic insurance policy. However, one has to pay an extra premium for adding the riders or additional covers to his/her Eicher Insurance policy for a commercial vehicle. The Eicher Insurance Policy details for additional covers are given below:

• Zero Dep/ Nil Depreciation: Insurers always deduct the depreciation cost in case of an accidental claim depending upon the age of the vehicle. However, with the zero dep add-on, you are entitled to a full claim amount without deducting the depreciation costs.
• Personal Accident (PA) Cover: It is mandatory for everyone to get a PA Cover for the owner driver of ₹15 lakhs with your Eicher insurance policy.
• Electrical and Non Electrical Accessories: This add-on covers your vehicle against any damage or loss occurring to your accessories and fittings that are not a part of the manufacturer's initial selling price.
• IMT 23: The IMT 23 is an extended cover available for all commercial vehicles. It provides an extended coverage to tyres and tubes, lamps, bonnet, mudguards, side parts, headlights, bumpers, paintwork of damaged portions, etc after considering and deducting the depreciation costs.

How to Buy Eicher Insurance Online?

Buying an insurance policy online is quick, easy, and hassle-free. You can easily buy Eicher insurance using the steps mentioned below:

• Go to policybazaar.com and select'commercial vehicle insurance' to buy Eicher insurance.
• Fill the vehicle registration number or select'I have a brand new vehicle'.
• In case of a new vehicle, fill out all the details such as make, model, RTO, etc, and click on submit.
• All the plans available for your Eicher vehicle will be displayed on the screen.
• Select any add-ons if required and check your IDV based on your previous policy.
• Select the plan and pay the premium to buy your Eicher Insurance.

How to Renew Eicher Insurance Online?

The steps to renew the Eicher Insurance policy online are as follows:

1. Step 1: Visit policybazaar.com and tap on'commercial vehicle insurance'.
2. Step 2: Fill the vehicle registration number and click on submit.
3. Step 3: Select the add-ons and IDV. Your IDV must be 10% less than that mentioned in your previous/expired policy
4. Step 4: The insurance plans will be displayed on your screen.
5. Step 5: Choose the plan that fits your requirements and pay the premium to get your policy renewed.

How to File Eicher Insurance Claim?

To file a claim against your commercial vehicle insurance policy, you must follow the steps mentioned below:

• Step 1: Inform the insurer about the incident and file an FIR in case of any third party liability.
• Step 2: The insurer will send a surveyor who will assess the damages caused.
• Step 3: Once the surveyor approves, you must submit all the required documents and file the claim.
• Step 4: Your commercial vehicle will be sent for repair.
• Step 5: Once repaired, the insurer will settle the claim.

Documents Required to File Eicher Insurance Claim

• Duly filled and signed claim form
• Copy of Registration Certificate (RC)
• Copy of Driving License
• FIR copy, if applicable
• Estimate of repair/ repair bill
• Load challan
• Commercial vehicle permit