JCB Insurance

Joseph Cyril Bamford Excavators Ltd is more commonly known as JCB was founded in the year 1945 by the Bamford family's Joseph Cyril Bamford. The company is still owned by the same family and in India, Ireland, and the UK, it is often known for excavators and mechanical diggers.

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JCB is known for manufacturing agriculture, construction, demolition, and waste handling equipment. The company dominates the Indian equipment manufacturing market as every three out of four pieces of equipment sold in India are from JCB. It manufactures approximately 300 types of commercial vehicles like tractors, excavators, diggers, and diesel tractors from 22 factories located in South America, North America, Europe, and Asia. Apart from India, the product of this company are sold in other 150 countries.

Since many institutes and businesses use JCB commercial vehicles, it becomes necessary for them to get the insurance of these vehicles. Moreover, India, in India, it is mandated by law to get the insurance of the vehicles and so does is the case with JCB vehicles. It is necessary to get JCB insurance.

Popular JCB Models with Insurance Price

JCB Model (2019 Registration)

JCB Model Variant

Insured Declared Value (IDV)

JCB Insurance Premium (Third-Party Insurance)

JCB 3 DX 2WD

Backhoe Loader – Diesel

Rs.13,19,220

Rs.7,843

JCB 30 Plus

Mini Excavator – Diesel

Rs.12,25,224

Rs.7,843

JCB 430 ZX Plus

Backhoe Loader – Diesel

Rs.19,71,200

Rs.7,843

JCB 432

ZX Load Shovel – Diesel

Rs.20,26,024

Rs.7,843

JCB JS 140

Hydraulic Excavator – Diesel

Rs.19,16,050

Rs.7,843

JCB JS 205

Hydraulic Excavator – Diesel

Rs.27,00,000

Rs.7,843

JCB JS 81

Hydraulic Excavator – Diesel

Rs.14,49,000

Rs.7,843

Disclaimer: The JCB Insurance Price for various Commercial Vehicle models may vary as per the capacity of the engine, RTO, IDV, fuel type, registration year, etc.

Reasons to Buy JCB Insurance Policy

Here are the reasons to purchase a JCB Insurance policy:

  • As per Motor Vehicle Act, 1988 it is mandatory to purchase vehicle insurance before plying it on the roads of India.
  • To get insurance coverage against losses and damages to third-party property or person in case of an accident or collision by the insured commercial vehicle.
  • To get insurance coverage for the insured vehicle in case of any damage or loss incurred to it.
  • Buying a JCB insurance policy online is simple and quick.
  • JCB insurance renewal process is fast and easy.
  • Personal accident coverage for owners, drivers, and occupants is also provided.

Types of JCB Insurance Policy

Third-Party Insurance: A third-party JCB insurance policy is the most basic type of insurance. Under this type of insurance policy, insurance coverage against losses or damages to a third-party person or property is provided in case of an accident or collision by the insured vehicle. However, a policyholder does not get any coverage for losses or damages incurred to his/her own (insured) vehicle.

Comprehensive Insurance: A comprehensive JCB insurance policy provides vast coverage as compared to third-party insurance. Under this policy insurance coverage against losses or damages to third-party as well as own vehicles is provided. Even though it is not compulsory to buy this insurance policy, but most insurance experts suggest opting for this type of vehicle insurance plan due to its comprehensive coverage.

Inclusions of JCB Insurance Policy

The inclusions of the JCB Insurance policy are as follows:

  • A JCB insurance policy provides insurance coverage to the insured vehicle against any loss or damages incurred due to an accident.
  • The JCB insurance policy also offers third-party liability cover in the situation of loss or damage to a third-party person or property.
  • The policy as well provides personal accident cover to the insured.
  • Damages and losses incurred because of explosion or fire.
  • Theft of the insured JCB commercial vehicle is as well covered in the JCB insurance policy.
  • Damage or loss incurred to the insured JCB vehicle because of riots, vandalism, etc. are as well covered in this policy.
  • Damages or losses incurred to the insured commercial vehicle because of floods, storms, etc. are covered in the JCB insurance policy.

Additional Covers in JCB Insurance Policy

To enhance the coverage of the base insurance policies, additional covers are provided by JCB insurance. Additional covers are also known as rider benefits that a policyholder can append to his/her insurance policy by paying an additional premium. Some of the most common types of additional covers provided by JCB insurance are as follows:

  • Add-On Cover to Protect Engine: This is one of the most useful add-on covers that one can include in his/her JCB Insurance policy. This add-on cover is to get protection for the JCB vehicle's engine and its various parts.
  • No-claim Bonus Protection Add-On Cover: ‘No Claim Bonus’ or NCB is the bonus that a policyholder gets for every claim-free year. However, even making a single claim, one can lose his/her ‘No claim Bonus’. To retain NCB, one may add this add-on cover in his/her JCB Insurance policy.
  • Zero Depreciation Add-On Cover: All the vehicles depreciate with time, and the commercial vehicles depreciate even faster as they are used more rigorously. To avoid the depreciation at the time of making a claim and ensure to get complete compensation, this JCB Insurance add-on cover works as a boon.

With these additional covers, there are many other add-on covers provided by various commercial vehicle insurance providers. Some of these add-ons are – the return of invoice, cover for electrical and non-electrical accessories, roadside assistance, cover for the bi-fuel engine, etc.

Exclusions of JCB Insurance Policy

The exclusions of a JCB Insurance policy are as follows:

  • Mechanical or electrical breakdown is not covered.
  • Losses or damages incurred to JCB commercial vehicle by a person who is driving it under the influence of alcohol.
  • Losses or damages incurred to JCB commercial vehicle by someone who is driving it without a valid driving license.
  • Any kind of consequential loss is not covered in the JCB Insurance policy.
  • Other exclusions according to the terms and conditions of the insurance policy.

How to Buy JCB Insurance Online

The current time is the time of the internet and online shopping, wherein one can buy everything on the virtual platform. From a needle to an insurance policy everything is available over the internet. So, if one wants to buy a JCB insurance policy online, he/she can follow the below steps:

  • Go to the commercial vehicle insurance page and click buy commercial vehicle insurance.
  • Provide all the details like make and model of the JCB commercial vehicle, its manufacturing details, type of insurance like comprehensive or third-party insurance, RTO information, details of the claim, etc.
  • After providing all the aforementioned details, a policy aspirant can choose the quote from the list of insurance providers for JCB commercial vehicles.
  • One now has to select an insurance policy as per his/her requirements and then make the payment online.
  • The policy is then e-mailed to the registered email id of the policyholder or one can download the JCB Insurance policy also.

How to Renew JCB Insurance Online

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

For renewing his/her JCB insurance policy, one has to submit the policy renewal form of JCB Insurance with the below information. After which insurance provider’s representative will get in touch with him/her:

  • Policyholder’s name
  • His/her mobile number
  • His/her email-id
  • His/her landline number (if exists)
  • JCB vehicle model
  • Registration city of the JCB commercial vehicle
  • Whether the last JCB Insurance policy was expired or not
  • Year of registration
  • Type of insurance policy:
    • Purchase a policy for brand new JCB commercial vehicle
    • Renew an existing JCB Insurance policy
    • Renew an existing JCB Insurance policy from a different insurer

JCB Insurance Policy Claim Procedure

  • When a policyholder wants to file a claim for his/her commercial vehicle, the first step he/she has to do is to inform the insurer at its toll-free number.
  • In the case of cashless claim settlement of JCB Insurance, a policyholder has to fix an appointment with the surveyor of the insurance provider. After his/her survey, the JCB commercial vehicle is taken to any of the network workshops of the insurance provider for repair.
  • The insurance provider has to give all the required documents to the surveyor.
  • The insurance provider can confirm the liability only after the successful survey.
  • If the policyholder opts for the cashless claim settlement service, the JCB insurance provider will settle the claim directly with the network workshop.
  • However, if the insured avails of the reimbursement option, then he/she requires to settle the cost of the claim first by self. Later, he/she may provide all the needed original bills along with the claim form to the insurance provider for settling the claim.

Documents Required for JCB Insurance Claims

  • Filled and signed claim form
  • Copy of the registration certificate
  • Copy of the driving license
  • FIR’s copy
  • Estimate of the repair
  • Load challan (in case of commercial vehicles only)
  • JCB commercial vehicle’s permit

JCB Insurance FAQ

Written By: PolicyBazaar

Commercial Vehicle insurance articles

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