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According to the report published by The Ministry of Road Transport and Highways in 2019, 449,002 accidents were reported in 2019 across the country. Out of the total number of accidents, 1,51,113 deaths were reported. With a little more maths, this comes to close to 1230 accidents and 414 accident-related deaths per day.
These accidents involve all types of vehicles including commercial ones. The damages caused to the commercial vehicle in case of an accident or any unforeseen situation can directly affect the business and cause humongous financial losses. However, this cost can be reduced with the help of commercial car insurance.
Let’s take a walk through the meaning of commercial vehicle insurance, its advantages and various other nuances.
Having the right insurance for commercial vehicles could help you repair the vehicle in case of accidental damage. You may need a commercial motor vehicle insurance policy if you.
Transport people or goods for a fee in your vehicle.
If you own one or more commercial vehicles since it protects you financially and covers your business from any losses caused by accidental damages to your vehicle.
It is mandatory to have at least Third-party Insurance Policy as per The Motor Vehicles Act, 1988. Failure to insure your commercial vehicle can invite penalties.
We are a general insurance company. Now, before those words conjure images of beige walls and bleak souls in your head, let us tell you we are vibrant and vivacious, and were founded to break that drab mould you were about to cast us in.
