Mahindra & Mahindra is one of the leading vehicle manufacturers in India that has its headquarter in Mumbai. The company is among the largest truck manufacturers in the world. Mahindra & Mahindra works under the brand name of ‘Mahindra’ and produces commercial vehicles, two-wheelers, SUVs, and trucks.Read more
Since it is mandatory in India to insure vehicles before plying them on the roads, so it is compulsory to insure Mahindra vehicles. Today, we will discuss about Mahindra Insurance for its commercial vehicles.
A Mahindra insurance policy not only provides a protective layer to the commercial vehicle but also protects owners/ drivers. With such type of vehicle insurance policy, a policyholder gets peace of mind that his/her vehicle is safe and secure against damages and losses that may incur due to an accident, natural calamity, or manmade disaster.
Popular Mahindra Models with Insurance Price
Mahindra CV Model (2019 Registration)
Mahindra Model Variant
Insured Declared Value (IDV)
Mahindra Insurance Premium (Third-Party Insurance)
Alfa Load – Diesel
PIK-UP 1.7 PS BS6 – Diesel
CBC – Diesel
Cabin & Load DSD PS – Diesel
L6 11 BS3 – Diesel
Cargo Van – Diesel
Disclaimer: The Mahindra Insurance Price for various Commercial Vehicle models may vary as per the engine capacity, fuel type, IDV, RTO, registration year, etc.
Reasons to Buy Mahindra Insurance Policy
The reasons to buy Mahindra insurance policy are:
- Buying Mahindra Insurance online is simple and quick.
- It is mandatory by law to insure your commercial vehicle at least with a third-party insurance policy.
- If one opts for a comprehensive insurance policy, his/her commercial vehicle gets insurance coverage against damages and losses incurred to own vehicle and for third-party both.
- The facility of ‘No Claim Bonus’ is offered.
- One can as well get 'Personal Accident Cover' as an additional benefit for drivers, passengers, and owners.
- The facility of cashless claim settlement in network garages is provided.
- Mahindra Insurance claim settlement process is hassle-free and quick.
- The process of Mahindra Insurance renewal is fast and easy.
Types of Mahindra Insurance Policy
Third-Party Insurance: According to the Motor Vehicle Act, it is mandatory to insure a vehicle with at least a third-party insurance policy. Under this type of insurance policy, one gets coverage against losses and damages that incur to third-party property or person by the insured commercial vehicle in an accident or other unforeseen situation. However, coverage for own damage is not offered in this policy.
Comprehensive Insurance: This type of vehicle insurance policy is not mandated by the law, but it is always good to have comprehensive insurance for your vehicle. The reason is, this type of insurance policy provides insurance cover against losses or damages incurred to a third-party person or place as well as to the insured vehicle. This means one gets insurance cover for own vehicle damage in an accident or other unforeseen situations.
Inclusions of Mahindra Insurance Policy
The inclusions of Mahindra Insurance policy are:
- A Mahindra Insurance policy provides insurance cover against losses or damages to the insured commercial vehicle due to
- Terrorist activity, malicious act
- Accident incurred due to some external means
- Road-slide, landslide
- Fire, self-ignition, explosion
- Storm, flood, typhoon, hurricane
- The policy also provides third-party liability cover that protects against losses incurred due to bodily injury or death of a third-party person or damages to third-party property by the insured commercial vehicle.
- Personal accident cover for the registered owner of the commercial vehicle is also offered in most of the Mahindra Insurance policies.
Additional Covers in Mahindra Insurance Policy
An additional or add-on cover is an insurance cover that a policyholder can get for enhancing the coverage of his/her commercial vehicle insurance policy. However, to get additional coverage one has to pay an additional premium as well. Here is the list of additional or add-on covers that one can buy for his/her Mahindra commercial vehicle:
- Protection of ‘No Claim Bonus’
- Zero depreciation cover
- Add-on cover for road-side assistance
- Outstation emergency cover
- Cover for key replacement
- Engine protection cover
- Consumables cover
- Return of invoice add-on cover
- Personal accident add-on for passengers
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Exclusions of Mahindra Insurance
The exclusions of the Mahindra insurance policy are:
- Any claim that is raised for the issues that are other than the coverage of the policy is not covered.
- Damages or losses caused to commercial vehicle when it is outside its geographical location are not covered.
- Damages or losses caused to commercial vehicle when it is used for the purpose for which it is not fit for.
- Any kind of consequential loss is not covered.
- Losses or damages to the commercial vehicle when the driver is drunk.
- Any losses or damages incurred to the commercial vehicle when the driver is driving it without a valid driving license.
- Any type of intentional damage is not covered.
- Damages or losses caused to the commercial vehicle due to war or war-like situations.
How to Buy Mahindra Insurance Online
This is the era of the internet and e-commerce. Be it clothes or a vehicle insurance policy, one can buy everything online. So, to buy a Mahindra Insurance policy online one has to follow the below steps:
- The very first step is to visit the commercial vehicle insurance page and there click buy commercial vehicle insurance.
- After this, the policyholder has to mention all the details like make and model of the Mahindra commercial vehicle, its RTO information, manufacturing details, insurance type such as comprehensive or third-party insurance, details of the claim, etc.
- Now, after providing all the information, a policyholder can choose the insurance quote from the list of insurance providers for Mahindra commercial vehicles.
- A policyholder then has to select an insurance policy as per his/her requirements and then make the payment online.
- The insurance policy is then e-mailed to the registered email id of the policyholder or one can download it.
How to Renew Mahindra Insurance Online
The steps process for renewing a Mahindra Insurance policy online are as follows:
A policyholder must provide the renewal form of Mahindra Insurance with the below-mentioned details and a representative of the insurance company will get in touch with him/her:
- Policyholder’s name
- His/her email-id
- His/her landline number (if there)
- His/her mobile number
- Vehicle model of Mahindra Commercial Vehicle
- Commercial vehicle’s registration city
- Registration year of the vehicle
- Whether the previous Mahindra Insurance policy was expired or not
- Type of commercial vehicle insurance:
- Purchase an insurance policy for a brand new commercial vehicle
- Renew an existing Mahindra Insurance policy
- Renew an existing Mahindra Insurance policy from a different insurance provider
Mahindra Insurance Policy Claim Procedure
- Initially, an insured has to inform the insurer at its toll-free number.
- For cashless claim settlement of Mahindra insurance, the insured has to fix an appointment with the insurer’s surveyor. After successful completion of the survey, the commercial vehicle is taken to any of the network garages of the insurer for repair.
- An insured has to submit all the necessary documents to the surveyor.
- The insurer can confirm the liability only after the completion of the above step.
- If the insured avails the cashless service, the Mahindra insurer will settle the claim with the network garage directly.
- However, if one opts for the reimbursement facility, he/she must settle the cost of the claim first by self. Later, the claim is settled by the insurer. However, for the same, the insured must have to provide the claim form with all the original bills to the insurance provider.
Documents Required for Mahindra Insurance Claims
- Filled and signed claim form
- Copy of the license copy
- Copy of FIR
- Registration certificate’s copy
- Estimate of the repair
- For commercial vehicles load, challan is needed
- Commercial vehicle’s permit
Mahindra Insurance Policy FAQs
Q1. What issues do I have to face, if I forget to renew my Mahindra Insurance policy on time?
Ans. One has to deal with the following consequences, if he/she forgets to renew his/her insurance policy on time:
- In case of an accident, the insurance provider will not pay the claims.
- The ‘No Claim Bonus’ will not be paid to him/her.
- Driving a vehicle that has an expired insurance policy is considered illegal in India.
Q2. How long does it take to renew a Mahindra Insurance policy for a commercial vehicle?
Ans. It takes less than five minutes to get the insurance of your commercial vehicle online.
Q3. How does a Zero Depreciation addition cover help?
Ans. This is an add-on cover that you can buy for your Mahindra commercial vehicle, however, you have to pay an additional premium for the same. Opting for this cover ensures that you will get a complete cover for your vehicles sans the depreciation effects.
Q4. Can I make a claim, if my Mahindra commercial vehicle gets stolen?
Ans. Yes, if you have purchased an own-damage cover for your Mahindra commercial vehicle or if you have comprehensive insurance for it, then you can raise the claim for the same.
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