Transportation has become part and parcel of many business these days. However, with the increasing number of vehicles on road, reckless driving and timely delivery constraint, ‘safety’ has taken a back seat. Most often, you end up paying for getting your vehicle fixed at no fault of yours. And when you have a fleet of vehicles for your business, no wonder if your jaw drops while looking at the liabilities side of your balance sheet at the end of every year.
Royal Sundaram, now offers ‘Commercial Vehicle Insurance’, a comprehensive insurance policy that covers your financial losses (partial or total) caused by your commercial vehicles when involved in an accident during the period of insurance.
1) Covers loss of or damage to the insured vehicle due to accidental external means
2) Covers loss or damage to the insured vehicle, caused by any of the following:
- Fire explosion, self ignition, or lightning
- Burglary, theft, or house breaking
- Riot, terrorist activity, strike, malicious acts
- Earthquake (Fire and Shock damage), flood, storm,landslide/rockslide
- Whilst in Transit by road, air, rail inland waterways lift or elevator
3) Third party liabilities arising due to
a. death or or bodily injury to any person caused by or arising out of the use (including the loading and/or unloading) of the vehicle.
b. damage to property caused by the use (including the loading and/or unloading) of the vehicle.
4) Provides optional Personal Accident Cover to the driver covering accidental death, permanent total disability - to a maxinim sum insured of Rs. 2 lakhs.