Commercial vehicle insurance, as the name suggests, is a particular motor insurance policy that has been particularly designed for the protection of the vehicles that are engaged in commercial purpose. Such commercial vehicle could be a lorry responsible for transferring or carrying goods from one part of the city to another part; these vehicles could include a taxi engaged in the task of transferring passengers from one spot to another on a fare-paying basis.
In all conditions commercial vehicles put in a lot of effort and continuous performance. These vehicles require more attention in terms of coverage and protection since they are accountable for a huge amount of task that is to be completed on a regular basis regardless of the weather or other conditions.
Commercial vehicle insurance policy has been designed particularly for these vehicles other than private vehicles. Given that commercial vehicles perform strenuous tasks, they need better and more compact coverage in case of an accident. Considering the repairing costs of any commercial vehicle could go higher, these policies have been designed.
Commercial vehicle insurance, just like the private motor vehicle insurance offers mainly two types of plans: third party liability only plan which is mandatory by law and the comprehensive policy. Apart from these two, you can, however, broaden the coverage on your commercial vehicle by opting for some effective add-on covers in exchange of additional premium payment.
You can instantly buy or renew the policy for your commercial vehicle instantly by simply visiting GIBL.IN, India’s fastest growing insurance marketplace.
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