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Auto Secure Commercial Vehicle

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About Auto Secure – Commercial Vehicle Package Policy

    Auto Secure - Commercial vehicle package policy provides the insurance cover not only for the liabilty arising out of the third party but covers you against the financial loss because of theft or accidental damage to your vehicle.
     

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Auto Secure – Commercial Vehicle Package Policy

A commercial vehicle may be a source of livelihood for you & your family members . Any accidental damage or theft to this may result into huge financial loss to you or may even result into shut down of business . Living with such uncertainites is very risky hence requires an insurance policy to minimise such unceratinites & risk.

Cover can be widened by opting for any or all addon covers (if applicable) from the 6 unique addon covers we have. 

Auto Secure - Commercial vehicle package policy provides the insurance cover not only for the liabilty arising out of the third party but covers you against the financial loss because of theft or accidental damage to your vehicle.

  

Scope of coverage:

  • Goods carrying vehicle
  • Passenger carrying vehicle
  • Miscellaneous & special type of vehicles
 

Coverage:

  • Section I – Own Damage cover
    • As per  Auto Secure – Commercial Vehicle Package Policy
  • Section II – Liability Cover
    • Death or Bodily Injury to Third Parties
    • Third Party Property Damage Cover
    • PA cover to owner driver/passengers
    • Legal Liability cover to employees, passengers, paid driver
  • Section III – Add On Covers
    • Depreciation re-imbursement
      • offers full claim without any deduction for depreciation on the value of replaced parts which otherwise would have to be borne by insured.
      • Available for vehicles up to 2 year old and will operate for maximum 2 claims during policy period.
    • Loss of equipments or goods
      • Provides coverage for the loss or damage to equipments / goods fitted / carried in the vehicle in connection with insured’s trade / business but not for sale purposes, caused by perils mentioned under section 1 ( Own Damage) of the policy while they are in the vehicle at the time of loss or damage to the vehicle.
      • It can be offered for equipment/goods whose market value is up to 25% of IDV of the vehicle OR Rs.100,000 whichever is less.
      • This cover will be offered for vehicle up to 5 year old only.
    • Additional Transportation cost
      • This covers additional cost, including labour charges for loading/unloading at the spot of accident , incurred by insured in transporting the goods to the destination mentioned in the bill of affreightment, if insured vehicle is damaged by a covered peril mentioned in section 1 of the policy such that it cannot move on its own.
    • Loss of Income
      • This cover provides coverage for loss of income in case insured vehicle meets with an accident and vehicle is under repair. Resultant loss of use results into loss of income for the owner.
    • EMI Protector
      • Provides coverage for EMI payable by insured to financier for the period insured vehicle is in garage but not exceeding two months from the date of loss provided insured vehicle is damaged by a covered peril mentioned in section 1 of the policy and the extent of damage is such that the repair time is more than 7 days as certified by surveyor appointed to assess the loss.
    • Repair of Glass, Fiber, Plastic and Rubber parts
      • This cover protects bonus eligibility on renewal with us if parts made of glass, fiber, plastic and rubber are repaired and not replaced.
 

 

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