Commercial Vehicle Insurance

Smart Drive Commercial Vehicle Insurance:

You have a lot riding on your commercial vehicle - it is your physical link with your market or it's an important part of your fleet. Even as it plies every day serving your business, it is exposed to many risks. Insure it reliably with Bharti AXA. 

The SmartDrive policy for Commercial Vehicle attends to your various requirements because you have the options of including Personal accident cover to named persons as well as legal liabilities to employees and passengers.

A smart first step !!

Simple, yet comprehensive; this defines Bharti AXA Commercial Vehicle Insurance Policy, which provides protection against liabilities arising out of an unfortunate eventuality.

This policy provides the following covers:

1. Accidental damage to the vehicle due to:

• Fire, lightning, self-ignition, external explosion, burglary, housebreaking or theft, malicious act.
• Riot and strike; terrorism; earthquake; flood, cyclone and inundation
• Whilst in transit by rail, road, air, elevator, lift.

2. Liability cover for:

• Third party injury or death
• Third party property damage caused to their property

By paying an additional premium, you can opt for extra covers in case of:

• Loss or damage to electrical accessories
• Loss or damage to Non-electrical accessories
• Personal Accident cover for insured or any named person or unnamed passengers
• Legal liability to persons employees (paid drivers/cleaners)
• Legal Liability to employees of the insured (other than paid drivers/cleaners)
• Legal liability to fare and non fare paying passengers

Add On Cover- Zero Depreciation:

Guidelines:

• Cover can be given to vehicles upto 2 years of age. It should be repaired at any of Company’s authorized garage
• Depreciation Cover can be given to all the preferred segments of Goods carrying vehicles.

Benefit:

• Current deduction on account of Depreciation on various items:
  Glass  - Nil ; Plastic  - 30% ; Rubber  - 50% ; Metal  - Between Nil to 50% depending on age
  
• With Add on cover- deduction on account of Depreciation on various items:
  Glass  - Nil ; Plastic  - Nil ;   Rubber  - Nil ;   Metal  - Nil

What is payable in the event of a claim under a policy?

1. Accidental Damage Section

• Actual amount spent for repairs / replacement as assessed subject to depreciation and Sum Insured as per assessment.
• Garaging and towing charges up to a maximum of Rs.2500/-
• In case of total loss, market value at the time of loss or Sum Insured whichever is less

2. Liability Section:

• Legal liability for paid-driver,if opted
• Death or bodily injury to third parties - as per Motor Vehicles Act
• Death or bodily injury to any person carried in the car provided they are not Insured's employees and not carried for hire or reward - As per Motor Vehicles Act
• Third party property damage - up to Rs.750,000/-
• Non fare paying passengers connected with the journey/goods carried - As per Motor Vehicle Act.

What does the Policy not cover?

The Policy does not cover any claim due to: 

• Wear and tear, breakdowns.
• Consequential loss
• Loss when driving with invalid driving license or under the influence of alcohol.
• Loss due to war, civil war, etc.
• Claims arising out of contractual liability.
• Use of vehicle otherwise than in accordance with 'limitations as to use' (e.g. private car being used as a taxi)
• War perils, nuclear perils
• Mechanical and electrical breakdown; failure or breakage.

This is not an exhaustive list. For a detailed list of exclusions, please read our policy terms and conditions.

Getting started, smartly!!

Here's what you should do to get your SmartDrive - Commercial Vehicle Insurance Policy:

• Read the prospectus carefully
• Fill in the proposal form in all respects and kindly do not leave any blanks
• For any clarification, feel free to call the nearest branch office or our customer care number
• Please pay the premium preferably by way of a/c payee cheque or DD