Volvo Truck Insurance
Volvo Truck Insurance Volvo India has been offering high-tech and innovative driving solutions like trucks for the Indian market for decades. If you wish to purchase a Volvo truck, you must also consider buying a Volvo truck insurance for your commercial vehicle.Read more
Volvo Truck Insurance Overview
Volvo India has been manufacturing Volvo electric trucks for two decades now. The company is well known for offering premium transport solutions with a wide range of commercial trucks to its customers. Volvo trucks are best suited for tough jobs like cargo movement, mining, and construction.
Purchasing a Volvo truck insurance can be beneficial in offering financial assistance if your commercial truck meets with an unanticipated incident such as an accident, strike, riot, theft, fire, etc. Moreover, a Volvo truck insurance can also keep you covered against third-party property damages, death, or injury of a third party arising out of the insured vehicle.
Reasons to Buy Volvo Truck Insurance Policy
Here are some reasons why you should consider buying a Volvo truck insurance policy:
- Mandatory Purchase: Buying Volvo truck insurance for your truck is mandatory to drive legally on Indian roads. Thus, you must at least have a third-party Volvo truck insurance policy as per the motor laws of India.
- Complete Protection: With the help of a Volvo truck insurance policy, you can not only cover your truck from your own damages but can also get coverage against third party liabilities thus getting complete protection.
- Online Comparison: You can also easily compare Volvo truck insurance prices of multiple insurers online and purchase the one that suits your budget.
- Additional Covers: You can also enhance the coverage of your Volvo truck insurance policy by purchasing additional covers from your insurance company.
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Types of Volvo Truck Insurance Policy
The two basic types of Volvo truck insurance policy are:
Volvo Third Party Truck Insurance
A third-party truck insurance policy offers coverage against any third-party risks arising out of the insured truck. These risks can be death, injury to the third party, or property damage to the third party. A third-party liability commercial vehicle insurance policy is also mandatory as per the Indian motor laws. It does not cover an insured truck against its lown damages.
Volvo Comprehensive Truck Insurance
A comprehensive Volvo truck insurance policy offers coverage against losses sustained by the insured vehicle due to incidents like earthquakes, theft, fire, road accidents etc. It also covers a policyholder against any third party risk caused due to the insured vehicle. This policy offers complete protection by covering both own damage and third party liabilities and thus is mostly recommended.
Inclusions of Volvo Truck Insurance Policy
A Volvo truck insurance policy covers the following damages:
- Damages to the insured Volvo truck due to fire, explosion or ignition
- Losses arising out of natural calamities like earthquakes, cyclones, floods etc
- Losses sustained by the insured vehicle due to strikes, vandalism, or any other manmade disaster
- Damages arising out of any third party liabilities
- Damages to the insured vehicle while it was in transit via train, road, water or air
- Losses arising out of theft or burglary of the insured truck
Additional Covers Under Volvo Truck Insurance
A Volvo truck insurance policy can also be enhanced with the help of add-on covers that a policyholder can purchase by paying some additional premium. These add-ons include:
- Nil Depreciation Cover
- Engine Protect Cover
- IMT 23 Cover
- Personal Accident Cover
- Breakdown Assistance Cover
Exclusions of Volvo Truck Insurance Policy
A Volvo truck insurance policy excludes covering the following damages:
- Damages that were caused to the insured truck when the driver was drunk
- Damages to the insured vehicle when the driver was driving without a driving license
- Losses sustained by the insured Volvo truck when it was being used for private purposes
- Any damage to the insured vehicle when being driven outside the geographical area as specified in the policy
- Damages arising out of the electrical and mechanical breakdown of the insured truck
- Any wear and tear or general ageing of the insured vehicle
How to Buy Volvo Truck Insurance Online?
To purchase a Volvo truck insurance online, visit Policybazaar.com and follow the steps mentioned below:
- Visit the 'Commercial Vehicle Insurance' page from the 'Insurance Products' dropdown on the header
- Enter your name and mobile number to proceed
- Choose the type of commercial vehicle you own
- Select your vehicle's manufacturer as 'Volvo' along with model, and variant
- Select registration year and RTO details
- You will find multiple Volvo truck insurance plans to choose from
- Choose the desired plan along with add-ons
- Confirm the rest of the details and proceed with premium payment
- Pay the premium for your Volvo truck insurance policy
- Once the payment is complete, you will receive your Volvo truck insurance documents at your email id.
How to Renew Volvo Truck Insurance?
For Volvo truck insurance renewal, you can simply follow these steps:
- Head to the official website of Policybazaar Insurance Brokers Private Limited
- Select the ‘Commercial Vehicle Insurance’ page from the Insurance Products menu
- Enter your name and contact details
- Choose the type of vehicle, manufacturer, model, and vehicle variant
- Select vehicle registration year and RTO
- Select previous policy expiry and claim details
- Select the right Volvo truck insurance renewal plan and required add-ons
- Proceed with premium payment via your desired payment mode
- Once you have completed the payment, your truck insurance papers will be sent to your email address.
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Claim Procedure Under Volvo Truck Insurance
For an easy Volvo truck insurance claim, follow the process mentioned below:
- Intimate the insurance company soon after the incident to register a claim with them
- A surveyor will be sent to assess the extent of damages sustained by the insured Volvo truck
- The surveyor may also ask for some documents for a claim to be processed. Make sure to keep all the required documents with you
- The insured vehicle will then be sent to the network garage for repairs after which the insurer will settle the claim directly with the network garage
- If the repairs have been done in a non-network, the claim amount will be reimbursed to you after the repairs are done.
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 of repairs
- Truck's Fitness certificate
- Copy of Registration certificate
- Copy of commercial vehicle insurance papers
Ans. Yes. The Motor Vehicles Act 1988, has made it compulsory for every truck owner to have a valid commercial vehicle insurance policy to legally ply on the roads of India.
Ans. You can reduce your Volvo truck insurance cost by following these tips:
- Installing anti-theft device
- Not making a claim during the policy tenure
- Opting for voluntary deductibles
- Comparing commercial vehicle insurance policies online
Ans. No, you will not require any document to renew your Volvo truck insurance policy from Policybazaar.com.
Ans. You can pay the premium of your Volvo truck insurance on the website of
Policybazaar Insurance Brokers Private Limited via online payment modes like net banking, UPI, debit, and credit cards.
Ans. No, you cannot buy a single Volvo truck insurance for all your Volvo trucks. You will be
required to buy separate commercial vehicle insurance for each of your trucks.
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