Motor Fleet
Insurance

Get several deeply researched insurance options in less than 24 hours:

  • Cover damage due to accidents and other causes
  • Get quotes from top commercial vehicle insurers such as HDFC Ergo, New India, Iffco Tokio, and Bajaj Allianz
  • Cover damage to property caused by a commercial vehicle
  • Cover third-party bodily injury and accidental death
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Advantages of Motor Fleet Insurance

Easy to Manage
Motor fleet insurance is an umbrella policy which covers all your vehicles with a single policy. It saves the effort of managing multiple policies for different vehicles, thus improving ease of management.
Cover Employees
Commercial vehicle insurance offers coverage to your employees driving your vehicle for medical treatment of any injury in case of an accident. Coverage for employees' personal vehicles is also available.
Higher Limits
Motor fleet insurance provides high enough insurance limits to help cover items like punitive damages, attorney’s fees and medical expenses of injured, which otherwise could easily exceed the limits of a general personal auto insurance policy.
Legal Liability Cover
A commercial fleet policy covers the litigation costs you might face if your vehicle were to get involved in an accident causing third party bodily injury, or property damage. All court fees and settlement cost will be paid by the policy.

Benefits of Motor Fleet Insurance

Protection to Vehicle

  • Commercial car insurance covers your vehicles for damage due to accidents or loss caused by fire, theft and self-ignition. It also covers natural calamities like earthquake, floods, storm, landslide and rockslide.
  • Damage to the vehicle due to terrorist activity, riots or strike, or any other malicious act is covered.
  • The policy also covers loss to the vehicles whilst in transit by road, rail and waterways.

Third Party Liability Cover

  • Commercial fleet insurance covers legal liability arising from bodily injury to any person caused by your vehicle. The policy will indemnify all the legal costs if the victim files a legal case against your business.
  • The policy will also pay for the death of any person due to an accident in which your vehicle is involved.
  • Damage to property owned by a third party, caused by an accident due to your vehicle, is also covered by this insurance.

Additional Benefits

  • Commercial motor insurance offers various add-on benefits such as personal accident protection to owner-driver, paid drivers, and passengers. You can also introduce coverage for towing disabled vehicles.
  • Legal liability for the paid driver in connection with the operation of the commercial vehicle can also be included in a policy.
  • Damage to vehicle accessories, bonnet and bumpers, tyres and tubes can also be covered.

FAQs

Commercial vehicle insurance covers loss or damage to a commercial vehicle in case of an accident, or due to specific perils like fire, explosion, lightning and natural calamities. Third party legal liability arising from bodily injury and property damage is also covered by the policy. Medical expenses of an employee meeting with an accident is also covered.
Yes, you can cover personal use of a company-owned vehicle, provided the company has commercial fleet insurance. If you are using your own vehicle to travel without using it for commercial purposes, then it would be covered under personal motor insurance. If your vehicle is insured under commercial car insurance and your family members are using it, then you must get non-owned vehicle coverage.
Yes, damage or breakage of windshield glass can be covered under commercial motor-vehicle insurance. This cover is available as an extension which can be included by paying a marginally extra premium. This coverage will pay for the replacement or repair of the windshield and can be availed only once during policy tenure.
Commercial vehicle insurance usually excludes accidental damage while driving under the influence of liquor or drugs. Wilful negligence is also excluded from the policy. Other common exclusions of this policy are consequential losses, wear and tear, depreciation, mechanical & electrical breakdown and failure of brakes.
In case of a claim, you should immediately notify the insurance company, giving them an indication of the nature and extent of any loss or damage. You must provide vehicle information and the name of the employee involved if there was an accident. Finally, you should present all necessary documents required by the insurance company and co-operate with them.
In a cashless claim, the repair charges of the vehicle are directly paid to the garage by the insurance company, provided the vehicle is repaired in one of their network garages. Whereas, non-cashless or reimbursement claims are those in which you pay the garage for the repairs and your claim amount will be reimbursed to you after submitting the original bills and payment receipts to the insurance company.
The usual documents to be submitted when filing a claim are : the duly filled claim form, the registration certificate of the vehicle, the driving licence of the person who was at the wheel when the accident occurred, a true copy of the FIR, and the policy copy. In case of vehicle damage, the estimated cost of repair, bill and payment receipts are required. The insurer may require other documents as well in case of third-party bodily injury or property damage.
The first thing to do is file an FIR. Record the name, address, license number and the insurance company of the other driver involved in an accident. If possible, try to note the vehicle number of all the vehicles involved. Also, try to get the names and addresses of witnesses. You should not make any admissions or settle any claim against you without informing your insurer.
The premium payable for commercial vehicle insurance depends on factors like the types of vehicles, the number of vehicles to be covered, the nature of use of the vehicles, the geographic zone and the Insured Declared Value (IDV). The premium also depends on any type of additional coverage you include in the policy, for example, vehicle accessories cover.
If there are any changes required to the policy, such as a change of address or any modifications to the vehicle, these can be done with an endorsement to the insurance policy. You have to submit a letter to the insurer with the necessary proof for the changes and get the endorsement done. Some endorsements may require you to pay an additional premium, for example, increase in the number of vehicles in your fleet.
The following documents are required in order to buy a commercial vehicle insurance
  • Copies of the valid registration certificates for all the vehicles to be insured
  • Copy of the lease agreement if the vehicle is taken on lease
  • Copy of the purchase invoice of the vehicle (in case of a new vehicle)
  • Proposal form
Commercial motor insurance is typically more expensive than personal car insurance because the chances of claims are higher in such cases. The driver or employee who drives the vehicle for business purposes is considered to be riskier as they generally drive greater distances than a personal car. Also, they sometimes ride on unfamiliar roads and in heavy traffic. Finally, the scope of coverage is higher in motor fleet insurance, hence making it more expensive than a personal car policy.
Commercial vehicle policy provides insurance coverage against a range of risks to vehicles used for business purposes. As a business owner, you can get coverage for a single vehicle or fleet of vehicles. In the event of accident or loss due to reasons like bad weather, you can file a claim and receive compensation that will help to cover the cost of repairs.
If you are running a business and own or lease a commercial fleet of vehicles it is important to buy commercial motor insurance. This policy provides legal protection to your business against third-party liabilities and protects your drivers if they met with an accident. You will also have no financial worries because the policy will pay for vehicle repairs as well.
There are two types of commercial motor policies available which you can choose as per your requirement :
  • Liability only policy- covers any liability against bodily injury or property damage caused to the third party.
  • Comprehensive package policy- covers third party liability as well as own vehicle damage, from various risks.
The best way to get a commercial motor insurance plan is through insurance advisors like SecureNow. This is because it is important to have an analysis of the complete risk to your fleet and ensure that your coverage is of the right type. We also carry out a series of negotiations with insurers to provide you the best commercial vehicle insurance coverage at the best price. This will save your time prevent you from overpaying for the policy.

Insuropedia

What is a sunset clause in a motor fleet insurance policy?

A business owner may have a fleet of cars, lorries, vans which are used on a daily basis for his business-related activities. Managing all these vehicles can be expensive and hence it is vital to insure all the vehicles for proper business continuity. A motor fleet insurance policy is designed to provide coverage to all the vehicles...
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What is not included in your Motor Fleet Insurance Policy?

There are many limitations to your standard motor fleet insurance policy. You should not think that a motor fleet insurance policy means zero-expenditure. Even a comprehensive insurance policy does not mean zero out-of-pocket expenditure.
Certain conditions when your motor fleet insurance papers will not help you...
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How can you minimize Motor Fleet Insurance Premium?

Fleet operating cost can be huge expense for any organisation. Adding insurance cover may help reduce the maintenance and accidental wear and tear cost of the fleet. Here are some methods which can reduce the premium you will have to pay for such insurance:

Claims Records: Know your claims history clearly. Ask your insurer...
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