Cholamandalam MS General

Commercial Vehicle Insurance

Commercial Vehicle Insurance key Features & Benefits

Chola Commercial Vehicle Insurance is a one-of-its-kind motor insurance policy designed to especially protect vehicles that are not used for personal purposes.

The vehicles covered under this policy include:

Passenger Carrying Commercial Vehicles: School buses, vans, taxis, etc.

Goods Carrying Commercial Vehicles: Trucks, mini trucks, etc.

Tractors

Miscellaneous Vehicles: Excavation Cranes, Loaders, etc.

Why Choose Chola MS Commercial Vehicle Insurance?

When you choose Commercial Vehicle Cover from Chola MS, you gain:

Double benefits with a single policy: This comprehensive policy offers both "Third Party Cover" and "Own Damage Cover"

Discount on premium: Enjoy the "no claim bonus" discount for claim-free policy years.

Why Choose Chola MS Commercial Vehicle Insurance?

When you choose Commercial Vehicle Cover from Chola MS, you gain:

Double benefits with a single policy: This comprehensive policy offers both "Third Party Cover" and "Own Damage Cover"

Discount on premium: Enjoy the "no claim bonus" discount for claim-free policy years.

What is commercial insurance for?

Commercial vehicle insurance is a unique motor vehicle insurance policy that essentially covers and protects a vehicle that is not used for personal needs. This policy helps cover the expenses that arise from damages or losses caused by a commercial vehicle or it's respective driver/owner. These damages include accidents, fires, natural disasters, etc.

It is mandatory for all businesses to have commercial vehicle insurance in place for their vehicle such as cabs, buses, trucks, vans, auto-rickshaws and other such vehicles.

Why should a company get commercial vehicle insurance?

If the business owns a large number of vehicles, in the unfortunate event of an accident or other such circumstances, the expenses incurred can be very high. With the policy in place, these expenses become much less of a burden.

If there is a primary requirement and involvement of vehicles in the business such as a private school bus or cabs, this will be an assurance for stakeholders such as passengers that they are protected too.

It is also mandatory by law to have a third party liability coverage in place, as per the Motor Vehicle Act 2019

Reasons to buy online commercial vehicle insurance from Chola MS:

Third Party Liability: Cover for expenses incurred for third-party damages and injuries.

Own Damage Cover: Protection against insured's car damages and losses.

Personal Accident Cover: Cover to protect the driver, passenger and owner.

No Claim Bonus: Discount on renewal for claim-free years during policy tenure.

Hassle-free Claim Processing: Quick and easy settlements and claims processing.

Make sure to do a thorough study of the various options before making a choice. This plan will help ease the unforeseen burdens and help cope with the financial liabilities in such situations.