Q1. Is it mandatory to insure my Maruti commercial vehicle?

Ans: Yes, according to the Motor Vehicle Act, you cannot use a commercial vehicle without at least a third-party insurance policy.

Q2. Why do I need commercial vehicle insurance?

Ans: A commercial vehicle insurance provides coverage for business owned vehicles against damages caused to the vehicle and any third party due to the vehicle. So having an insured vehicle not only helps you abide by laws but also provides a financial backup.

Q3. What is the Maruti commercial vehicle insurance price?

Ans: The premium for your commercial vehicle depends on several factors such as the engine capacity, policy coverage, IDV, make, model, etc. The third party premium is fixed by the IRDAI based on the gross vehicle weight for goods carrying vehicles and engine capacity for passenger carrying vehicles.

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Maruti Insurance

Maruti commercial vehicles are one of the largely sold cars in India. The company has sold over 1.5 lakh Super Carry models. Presently, Maruti sells goods carrying vehicles and passenger carrying vehicles. In India, it is mandatory to get your vehicles insured with at least a third party insurance to cover any losses or damages caused to a third-party person or property due to an accident or collision by the insured vehicle.

Maruti Model	Engine Capacity/Gross Vehicle Weight	Third Party Insurance Premium
Maruti Model	Engine Capacity/Gross Vehicle Weight	Third-Party Premium	Per Licensed Passenger
Eeco Cargo	1540 kg	₹16,049	-
Super Carry	1620 kg	₹16,049	-
Tour H1	998 cc	₹6,040	₹1,162
Tour H3	998 cc	₹6,040	₹1,162
Tour S	1197 cc	₹7,940	₹978
Tour M	1462 cc	₹7,940	₹978

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

Reasons to Buy Maruti Insurance Policy

Here are the reasons to buy a Maruti insurance policy:

Legal Requirement: Having at least a third party insurance policy is mandatory as per the Indian Motor Laws. So, to avoid any fines and traffic violations you must always get your vehicle insured
Financial Back-up: An insurance policy not only offers legal protection but also helps you with financial security. You can ride your vehicle peacefully as you have a strong financial back-up and your accidental claims will be settled by your insurer.
Easy to Compare, Buy and Renew: You can easily compare, buy and renew your commercial vehicle insurance online on websites like policybazaar.com.

Types of Maruti Insurance Policy

The two types of commercial vehicle insurance are mentioned below:

Third-Party Insurance: This insurance policy provides coverage only against damages caused to a third-party, person or property due to the insured vehicle. It is a mandatory insurance policy as per the Indian Motor Laws and the premium is decided by the IRDAI. The third party commercial vehicle insurance does not cover any damages caused to the insured vehicle.
Comprehensive Insurance: A comprehensive insurance is not a legally mandatory policy, but provides the maximum coverage. It covers the damages caused to both third-party and the insured vehicle. You can also purchase several add-ons to increase the coverage of your insurance policy at an additional premium.

What is Covered Under the Maruti Insurance?

What is Covered?
What is not Covered?

The inclusions of the Maruti Insurance policy are as follows:

Damages caused due to natural or man made disasters
Damages caused to a third-party person or third-party property
Any unintentional damages
Damages caused due to theft, burglary or housebreaking

The exclusions of the Maruti Insurance policy are as follows:

Any kind of mechanical or electrical breakdown
Consequential losses
Any kind of loss or damage incurred if the driver is under the influence of alcohol or other intoxicating drug
Losses or damages incurred if the driver is found without a valid driving license

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Maruti Insurance: Add Ons

You can purchase the following add-ons at an additional premium to increase the coverage of your insurance policy:

Bumper to Bumper Cover/Zero Depreciation: Your vehicle is subject to a depreciation cost every year based on its age. An insurer always deducts the depreciation cost while settling your claim. However, with this add-on cover, the insurer will not deduct the depreciation and will reimburse the full amount while settling your accidental claim.
Electrical and Non Electrical Accessories: This add-on covers damages caused to the additionally-fitted accessories such as fog lights, seat covers, etc.
Personal Accident (PA) Cover: It is mandatory to buy a PA cover for the individual owner of at least ₹15 lakhs in case of disablement or death.
IMT 23: This add-on provides coverage for uninsured parts like tyres and tubes, lamps, mudguards, side parts, bonnet, bumpers, headlights, and paintwork of damaged portions after deducting the depreciation costs.

How to Buy Maruti Insurance Online?

Nowadays everything is available online including an insurance policy. Here are the steps to buy a Maruti insurance online from policybazaar.com:

Go to the homepage and click on 'commercial vehicle insurance' to buy your policy.
Fill the registration number of your vehicle or click on ' I have a brand new vehicle'
Provide all the required details of the commercial vehicle like its make and model, manufacturing details, RTO information, etc.
After providing all the necessary details select the IDV and add-ons required and the available plans will be displayed.
Choose the most suitable insurance plan and pay the premium.
The policy will be mailed to you on your email address.

How to Renew Maruti Insurance Online?

The steps to renew Maruti Insurance policy online are as follows:

Step 1: Visit the official website of Policybazaar Insurance Brokers Private Limited.
Step 2: Choose 'commercial vehicle insurance' to renew your policy.
Step 3: Fill the vehicle registration number and submit the form.
Step 4: Fill all the required details and click on 'view prices'.
Step 5: Check all the details displayed such as vehicle information, existing policy details, NCB, IDV, etc. Also, select the required add-ons.
Step 6: All the plans will be displayed based on the information provided.
Step 7: Select the plan and pay the premium.
Step 8: Your policy will be renewed and sent to you on your registered email address.

How to File Maruti Insurance Claim?

You can use the steps mentioned below to file your claim easily:

Inform the insurer to file a claim for any unforeseen mishap.
File an FIR with the local police as it is a mandatory document to file a claim.
The insurer will send a surveyor who will assess the damages caused to your vehicle or to any third party.
Submit all the required documents to get an approval for your claim.
Once your claim is accepted, your vehicle will be sent for repair.
Your insurer will then settle your claim

Documents Required for Maruti Insurance Claim

The following documents must be submitted to file a claim against your commercial vehicle insurance:

Duly filled and signed claim form
Registration Certificate
Copy of the driving license
FIR copy
Repair estimate
Load challan
Commercial vehicle permit

Maruti Insurance Policy FAQs

Q1. Is it mandatory to insure my Maruti commercial vehicle?

Ans: Yes, according to the Motor Vehicle Act, you cannot use a commercial vehicle without at least a third-party insurance policy.
Q2. Why do I need commercial vehicle insurance?

Ans: A commercial vehicle insurance provides coverage for business owned vehicles against damages caused to the vehicle and any third party due to the vehicle. So having an insured vehicle not only helps you abide by laws but also provides a financial backup.
Q3. What is the Maruti commercial vehicle insurance price?

Ans: The premium for your commercial vehicle depends on several factors such as the engine capacity, policy coverage, IDV, make, model, etc. The third party premium is fixed by the IRDAI based on the gross vehicle weight for goods carrying vehicles and engine capacity for passenger carrying vehicles.