HDFC ERGO commercial vehicle insurance provides third-party liability cover as well as comprehensive coverage to a wide range of commercial vehicles such as passenger-carrying vehicles, goods carrying vehicles, and other special types of commercial vehicles against any type of financial expense incurred owing to an unforeseen accident or damage.
It is highly important to make sure hassle-free operations throughout your business. Hence, it becomes more important to protect and maintain such commercial vehicles that make your business go. Let's have a look at some of the unique and special features of HDFC ERGO commercial vehicle insurance policy.
Own Damage Cover
Any damage or loss incurred to the insured vehicle is covered under the specified circumstances under own damage cover. Forinstance, any damage due to naturalcalamities, burglary or theft, strikes, riots, terrorist activity, or any malicious act, transit by road, rail, lift, etc.
Third-Party Liability Cover
Under third-party liability cover, the insured is protected against the third party liability that could arise out of the use of the vehicle resulting in death or bodily injury to the occupants being carried in the vehicle other than the insured’s. Apart from that, third-party policy also offers coverage to the property damage of a third party.
Commercial vehicle insurance policy from HDFC ERGO offers towing cover. However,this feature may vary subject to the terms as per the policy wordings. Depending on the type of vehicle, the company offers reimbursement of towing charges up to Rs. 750/-, Rs. 1500/- and Rs .2500/- respectively.
On the basis ofthe purpose of the vehicle, you maygo for thepurchase of any of the commercial vehicle insurance plans from HDFC ERGO as listed below:
- ✔Goods Carrying Vehicle Insurance
- ✔Passenger Carrying Vehicle Insurance
As the name suggests, this particular commercial vehicle insurance plan basically offers coverage to good carrying vehicles like trucks, trailers, etc. This policy essentially offers coverage to the insured vehicle for any type of man-made or natural calamity like, earthquake, theft, burglary, fire, etc. among others.
Special Features of HDFC ERGO Goods Carrying Vehicle Insurance
Have a look at some of the unique features of goods carrying vehicle insurance:
- ✔This policy provides both third-party as well as own damage coverage.
- ✔You can enjoy cashless claim facility all over India from registered workshops or garages.
- ✔You can choose to extend the coverage of the policy by opting for added covers on the basis of requirements.
- ✔You can easily get your No Claim Bonus (NCB) transferred if you wish to switch from your current insurance provider to HDFC ERGO Commercial Vehicle Insurance.
Coverage under HDFC ERGO Goods Carrying Vehicle Insurance
The coverage for HDFC ERGO goods carrying vehicle insurance policy is following:
- ✔Cover for Accidents: In case, the insured vehicle is damaged as a result of an accident, the policy will offer coveragainst the same.
- ✔Cover against Fire and Explosion: If your vehicle is partially or totally damaged due to fire or explosion, the policy will cover it..
- ✔ Protection against Theft: In case the vehicle gets stolen and is under complete loss classification, the policy will pay up to the full worth of the vehicle.
- ✔ Cover for Natural Calamities: The policy will also cover the costs of any loss or damage that occurs owing to a natural calamity such as, flood, tsunami, storm, earthquake, etc.
- ✔Personal Accident Cover: In case you meet with an unfortunate mishap, either the owner of the vehicle or the driver will be protected under this feature. Personal Accident cover will offer equalcost a specific level of the total guaranteed to incorporate the expense of your treatment. The co-travellers can also be secured given that an additional premium is paid for the same.
- ✔Third-party Liability Cover: The policy will cover any claim arising outof an accidental death, bodily injury or property damage of a third party.
Exclusions under HDFC ERGO Goods Carrying Vehicle Insurance
- ✔Depreciation: The policy will not cover if there is depreciation in the estimation of your vehicle over the period of time.
- ✔ Illegal Driving: If the vehicle gets into a mishap while it was being driven under the influence of alcohol or any other similar intoxicants, or driven without a proper driving license, the policy will not offer any coverage.
- ✔Mechanical and Electrical Breakdown: If the vehicle doesn't properly functiondue to some mechanical or electrical breakdown, then the policy will not offer any coverage under such circumstances.
As the name suggests, this HDFC ERGO Commercial Vehicle Insurance Plan offers coverage to various passenger carrying vehicles such as taxi, bus, etc against manmade and natural calamities like theft, burglary, earthquake, flood, fire, riots, etc.
Features of HDFC ERGO Passengers Carrying Vehicle Insurance
Some of the special features of goods carrying insurance from HDFC ERGO are as follows:
- ✔The premium of the policy is fixed on the basis of the cubic capacity (CC), weight of the vehicle, etc.
- ✔You may avail some discounts on the premium depending on the mode of purchasing of the policy.
- ✔The policy covers both manmade and natural disasters.
- ✔You can earn No ClaimBonus (NCB) for every year you do not file any claim under the policy.
Coverage under HDFC ERGO Passengers Carrying Vehicle Insurance
The policy offers the following coverage options:
- ✔Third-partyLiability Cover: The policy will cover any claim arising out of third-party liability such as death, bodily injury and property damage of a third party.
- ✔Coverage against Natural Calamities: It will cover any damage to the vehicle owing to natural calamities like earthquake, flood, storm, etc.
- ✔Protection Man-made Calamities: The policy will compensate the full value of the vehicle is stolen or is damaged due to manmade calamities.
- ✔Cover for Personal Accident: The policy will offer coverage to the owner or driver of the vehicle for treatment costs in the event of an accident. The co-passengers can also be covered given that an additional premium for the same is paid.
- ✔Accident Cover: In the event of an unforeseen circumstance, if the vehicle is damaged due to an accident, the policy will offer coverage for the same.
- ✔Fire and Explosion Cover: The policy will cover if the vehicle is partially or totally damaged due to fire and explosion.
Exclusions under HDFC ERGO Passengers Carrying Vehicle Insurance
The policy will not offer any compensation under the following circumstances:
- ✔Depreciation: If there is depreciation in the value of your vehicle over the period time,the policy will not cover it.
- ✔Illegal Driving: The policy will not offer any coverage of the vehicle meets with an accident while the drive was under the influence of alcohol or drugs or any other intoxicants or if you do not possess a valid driving license.
- ✔Mechanical and Electrical Breakdown: The policy will not offer any coverage of your vehicle stops wokring due to some mechanical or electrical problems.