Toyota Insurance

Toyota Insurance Price

Toyota insurance is a type of commercial vehicle insurance, and its premium is fixed by the IRDAI based on the gross vehicle weight for the goods-carrying vehicle and engine capacity for the passenger carrying vehicle.

*Disclaimer: The premium mentioned above is fixed by the IRDAI and is subject to change without prior notice and increase if you purchase a comprehensive policy and include any add-ons.

Reasons to Buy Toyota Insurance Policy

You must insure your Toyota vehicles for the following reasons:

• Legal Requirement: It is mandatory to have a third-party commercial vehicle insurance to drive your commercial vehicles as per the Indian Motor Laws.
• Comprehensive Coverage: A third-party insurance will cover third-party liabilities, whereas a comprehensive insurance policy offers coverage for both third-party liabilities and accidental damages caused to the insured vehicle.
• Financial Protection: An insurance policy also offers you a mental peace as the insurer covers your vehicle against any unfortunate mishap that might occur in the future due to accidents, collisions, disasters, theft, etc.

Types of Toyota Insurance Policy

There are two types of insurance policy available for your Toyota commercial vehicles which are mentioned below:

• Third-Party Insurance: This type of insurance policy is a legal obligation as per Motor Laws of India. This type of insurance can be purchased at a minimal insurance premium that is fixed by the IRDAI. It provides coverage only for third-party liabilities and not for own-damages.
• Comprehensive Insurance: Comprehensive policy provides a better coverage as it offers coverage for third-party liabilities and any losses or damages caused to the insured commercial vehicle due to accidents, collisions, fire, natural disasters, man-made calamities, fire, self-ignition, etc. With a comprehensive policy, you also have the option to include various add-ons and increase the protection.

Toyota Insurance Policy Add-Ons

To increase the coverage of your Toyota commercial vehicle insurance, you can buy the following add-ons. :

• IMT 23: It covers the cost of damages incurred on items generally excluded from a claim reimbursement, such as tyres, lamps, bonnet, etc., after deducting the depreciation costs.
• Accessories Cover: This add-on will reimburse for costs incurred on damages caused to electrical and non-electrical accessories that are not a part of the manufacturer's initial selling price and were additionally fitted.
• Zero Depreciation Add-On: It helps the policyholder avoid the depreciation cost incurred on all own-damage accidental claims as per the age of the vehicle.

How to Buy Toyota Insurance Online?

The steps to buy Toyota insurance from policybazaar.com are mentioned below:

• Head to the 'commercial vehicle insurance' section.
• If applicable, choose 'I have a Brand New Vehicle' and fill out the form with the required details or fill vehicle number to see the prices
• Select the plan based on the details provided and include any add-ons if required
• Pay the premium and the policy will be mailed to your registered email address.

How to Renew Toyota Insurance Online?

You can renew your insurance online from policybazaar.com using the steps mentioned below:

• Select the 'commercial vehicle insurance' option.
• Fill out your vehicle registration number and click on submit.
• Select the required add-ons and IDV (10% lower than your previous IDV)
• The available plans will be displayed
• Pay the insurance premium
• The policy will be instantly renewed and mailed.

How to File Toyota Insurance Claim?

• Step 1: Intimate the insurer to start your claim process.
• Step 2: Get your damages assessed by the surveyor sent by the insurance provider.
• Step 3: After the assessment, fill and submit all the required documents.
• Step 4: The insurance company will get your vehicle repaired and settle the claim.

Documents Required for Toyota Insurance Claim

• Fully filled and signed claim form
• Valid driver license
• Commercial vehicle RC
• FIR copy, if applicable
• Bills estimate
• Load challan and permits