Volvo Truck Insurance

Volvo Truck Insurance Price

Reasons to Buy Volvo Truck Insurance Policy

Volvo truck insurance policy falls under the category of commercial vehicle insurance. Here are some reasons why you should consider buying a commercial vehicle insurance policy:

• Mandatory as per Law: Having a third party commercial vehicle insurance is mandatory for your Volvo commercial vehicles as per the Indian Motor Law as it is a legal obligation and also provides coverage for damages caused to the third-party person or property.
• Easy to Compare and Buy: You can easily compare, buy, and renew your Volvo truck insurance online easily on websites like policybazaar.com.
• Financial Security: An insurance policy offers an extended financial backup as the insurer covers third party liabilities and own damage in case of a comprehensive policy.

Types of Volvo Truck Insurance Policy

The two basic types of Volvo truck insurance policy are:

1. Third Party Insurance

   A third party commercial vehicle insurance is legally mandatory for your Volvo trucks. This type of insurance only covers losses and damages caused to any third party person or property. This policy does not cover any damages caused to the vehicle and the premium is set by IRDAI and not the insurance companies.

2. Comprehensive Insurance

   Commercial vehicle owners often opt for a comprehensive insurance policy as it offers an extended coverage. This type of policy not only protects you against third party liabilities, but also covers damages to the insured vehicle caused due to accidents, natural calamities, man-made disasters, theft, etc. You can also opt for add-ons and increase the coverage.

Volvo Truck Insurance: Add-Ons

You can choose the add-ons mentioned below to increase the coverage of your comprehensive commercial vehicle insurance at an additional premium:

• Electrical and Non Electrical Accessories Add-on Cover: This add-on covers damages caused to accessories fitted additionally and were not a part of the manufacturer's initial selling price. Accessories such as fog lights, seat covers, etc, are covered under this add-on.
• Personal Accident (PA) Cover: A PA cover is mandatory for the owner-driver as per the IRDAI. PA cover offers protection in case of disablement or death and must be of at least ₹15 lakhs.
• Zero Depreciation Add-on Cover: A commercial vehicle is subject to depreciation every year based on its age and it is deducted while settling a claim. If you have this add-on, your insurer is liable not to deduct any depreciation costs, in case of an accidental claim.
• IMT 23: This add-on provides coverage for parts, such as tyres, side parts, tubes, lamps, bonnet, mudguards, bumpers, headlights, etc after deducting the depreciation costs.

How to Buy Volvo Truck Insurance Online?

To purchase a Volvo truck insurance online, visit Policybazaar.com and follow the steps mentioned below:

• Fill out your vehicle registration number and click on submit to get the prices.
• In case of a new vehicle, click on 'I have a Brand New Vehicle' and fill the form with the required details.
• Choose the best coverage from all the plans displayed.
• Pay the premium of the policy selected.
• After successful payment, your policy will be sent to your registered mail ID.

How to Renew Volvo Truck Insurance?

For Volvo truck insurance renewal, you can simply follow these steps:

• Step 1: Visit the website of Policybazaar Insurance Brokers Private Limited and choose 'commercial vehicle insurance' from the homepage.
• Step 2: Fill the vehicle registration number and click on 'view prices'. Check the details displayed, such as the make, model, year of registration, RTO, etc.
• Step 3: Fill out your name and mobile number and tap on view prices.
• Step 4: Select the IDV, NCB, add-ons, and existing policy expiry date.
• Step 5: All the plans will be displayed on the screen. Compare the different policies and choose the most suitable one.
• Step 6: Pay the premium and the renewed policy will be sent to your registered email address.

How to File A Claim Under Volvo Truck Insurance?

To file a claim against your volvo truck insurance, you can , follow the process mentioned below:

• Intimate the insurance company after the accident to register a claim.
• A surveyor will be sent to assess the extent of damages sustained by the insured commercial vehicle
• Submit all the documents required to file a claim.
• The insured vehicle will then be sent to the garage for repairs
• Once repaired, the insurer will settle your claim.

Documents Required to Raise A Claim Under Volvo Truck Insurance

Make sure to keep these documents handy while raising a Volvo truck insurance claim for your vehicle:

• Duly signed claim form
• Copy of driving license
• Copy of Police FIR
• Repair estimates and bills
• Fitness certificate
• Copy of Registration certificate
• Copy of commercial vehicle insurance papers