Commercial Comprehensive Insurance Package

We realise that a vehicle can meet with an accident any time. That’s why our Commercial Motor Insurance Policy acts as your companion in difficult times and is designed to cover any loss or damage to your vehicle. It also covers third-party liability made mandatory by the Motor Vehicles Act.
Additional Covers
It makes sense to pay a little extra, if you are going to get those additional insurance covers. We ensure that the little extra is actually very little. With us, you can buy these at a nominal extra cost.


Personal accident cover
Compulsory personal accident cover of Rs 1 lakh (in case of two-wheelers) and Rs 2 lakhs (for other classes of vehicles) for individual* owners of the vehicle while driving.
Personal accident cover is not applicable for company owned vehicles.
Moreover, you and other occupants of the vehicle can also be covered for 'personal accident' for a maximum Capital Sum Insured of Rs1 lakh per person, in case of two-wheelers; and Rs 2 lakh per person for other classes of vehicles. You may also opt for higher personal accident cover limits.
* Available only if the owner of the vehicle holds a valid driving licence


Additional legal liabilities
While applying for a Commercial Motor Policy, you can also opt for the following additional legal liabilities at an additional premium:
- Paid driver/conductor/cleaner employed in operation of vehicle
- Employees traveling in/driving the vehicle other than the paid driver
- Non-fare paying passengers


Bi-fuel kit
The CNG-LPG bi-fuel kit can also be covered by paying an additional premium


IMT 23
For a nominal extra premium, our policy will also cover you on these parts:
cover for lamps, tyres/tubes, mudguards, bonnet/side parts, bumpers, headlights and paint works


Overturning
We also provide cover for the damages caused by overturning in mobile cranes/drilling rigs/mobile plants.
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Third-party liability
This policy protects you and your vehicle against any legal liability towards third parties, arising out of its use , leading to any bodily injury to/on death of a person and any damage caused to the third-party property
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Loss or damage to the vehicle
The Commercial Motor Policy also covers you against any loss or damage caused to your vehicle or its accessories due to the following natural and/or man-made calamities:
Natural calamities
Fire, explosion, self-ignition or lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide and rockslide.
Man-made calamities
Burglary, theft, riot, strike, malicious act, accident by external means, terrorist activity and any damage in transit by road, rail, air, inland waterway, lift or elevator, together with loss or damage to the vehicle itself.

While we make every effort to give you the best possible services, any loss of/damage to your two-wheeler and/or its accessories will be not be covered if caused by any of the following:
- Normal wear and tear as well as general ageing of the vehicle
- Depreciation or any consequential loss
- Mechanical/electrical breakdown
- Damage to/by a person riding the two wheeler without a valid licence
- Damage to/by a person riding the two wheeler under the influence of drugs or liquor
- Loss/damage due to war, mutiny or nuclear risk
- Use of the vehicle in violation of the Limitation as to use clause, mentioned in the policy
- Radioactive, toxic, explosive or hazardous properties of any nuclear assembly or nuclear component
Available Discounts


No-claims bonus
If you do not make a claim during the policy period, a No-claims bonus (NCB) is offered on renewals. This discount can go as high as 50% (NCB will only be allowed provided the policy is renewed within 90 days of the expiry date of the previous policy).
Transfer of NCB: You can also transfer full benefits of No-claims bonus when you shift your Motor Insurance Policy from another company.


Voluntary Excess Discount
You can avail more discount on the insurance premium, if you opt for a Voluntary Excess, in addition to the Compulsory Excess (Compulsory Excess is the amount of loss which the insured has to bear in each and every claim).


AAI Membership
You can avail additional discount, if you are a member of the Automobile Association of India (AAI), which is registered with IRDAI.


Anti-theft devices
If you have installed anti-theft devices approved by the Automotive Research Association of India (ARAI) in your car, you can avail 2.5% discount (or up to Rs 500) on your own-damage (OD) Premium.
Sum Insured
We insure all vehicles at a fixed value, known as Insured's Declared Value (IDV).
The IDV is calculated on the basis of your vehicle manufacturer's listed selling price (plus the listed price of any accessories) after deducting the depreciation for every year as per the following rates.
05%
Depreciation for vehicle
Not exceeding 6 months
15%
Depreciation for vehicle
Exceeding 6 months but not exceeding 1 year
20%
Depreciation for vehicle
Exceeding 1 year but not exceeding 2 years
30%
Depreciation for vehicle
Exceeding 2 years but not exceeding 3 years
40%
Depreciation for vehicle
Exceeding 3 years but not exceeding 4 years
50%
Depreciation for vehicle
Exceeding 4 years but not exceeding 5 years
Download
- Commercial Comprehensive Package Policy Tyre Guard
- Commercial Comprehensive Package Policy Consumables
- Commercial Comprehensive Package Policy EMI Protector
- Commercial Comprehensive Package Policy Loss of Driving License and Registration Certificate
- Commercial Comprehensive Package Policy Loss of Income
- Commercial Comprehensive Package Policy Rim Safeguard
- Motor Add Ons