Commercial Vehicle Insurance

Features

  • Reduce risk in business occurring from damage caused to commercial vehicles.
  • Protect any potential legal liability from third parties for accidental injury/death or property damage caused due to an accident involving the insured vehicle.
  • Get covered for both – passenger and goods carrying vehicles.

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Benefits

  • Avail of emergency assistance services such as towing and ambulance.
  • To make cashless claims for commercial vehicles, you can choose from over 1600+ authorized networks of garages across India.
  • Comprehensive customer support available through HDFC ERGO’s 24x7 toll free helpline number.

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Do you want to know about HDFC ERGO Commercial Vehicles Insurance policy in detail?

Protecting and maintaining commercial vehicles is critical to ensure that daily operations within your business run smoothly. The insurance policy provides coverage for any accidental losses or legal liabilities involving your commercial vehicles. Here are some of the features of the policy:

Features

You will get some exclusive features and benefits with your HDFC Bank Commercial Vehicle Insurance:

  • Large network: Cashless Claim Service over 1600+ authorized network of garages across India.
  • Emergency assistance: This policy also provides services such as towing, ambulance, claims assistance should your commercial vehicle undergo any severe accident.
  • Types of vehicles covered: HDFC ERGO provides covers to various classes of commercial vehicles such as goods carrying vehicles - both private and public carriers, trailers, passenger carrying vehicles, miscellaneous & special types of vehicles.
  • Customer support: Avail of comprehensive customer support through the HDFC ERGO’s 24x7 toll free helpline number, along with a simple claims procedure.

Click here to download the brochure.

What coverage does HDFC ERGO Commercial Vehicles Insurance policy offer?

Here are the details regarding the coverage that the HDFC ERGO Commercial Vehicles Insurance policy offers:

Loss or damage caused to the vehicle insured by any one of the following events:

  • Accident by external means
  • Burglary, house break-ins or theft
  • Fire, explosion, self ignition, lightning
  • Terrorism, riots, strikes, malicious acts
  • Transit by road, rail, inland waterways, air or lift
  • Earthquake, flood, storm, landslide or rockslide

Liability to Third Parties:
The policy covers you for the legal liability for injury / death and/or property damage caused to a third party in the event of an accident caused by or arising out of the use of the insured vehicle.

Personal Accident Cover For Owner-Driver:
The policy provides personal accident cover for the owner driver for accidental death or permanent total disability.

Sum Insured:
The coverage for your vehicle would depend on the manufacturer’s listed selling price, less depreciation for each year or the Insured’s Declared Value (IDV). The IDV would be the maximum amount payable in the event of a claim for total loss / constructive total loss.

Premium:
The premium for a package Motor Insurance policy would depend on:

  • Sum insured / Insured’s Declared Value (IDV)
  • Type of vehicle
  • Age of the vehicle
  • Place of registration
  • Fuel type (Petrol / Diesel / CNG / LPG)
  • Gross Vehicle Weight (GVW) / Licensed Carrying Capacity (LCC) as applicable

You can also choose a variety of optional covers on payment of additional premium, as listed below:

  • Electrical / non-electrical items can be insured separately
  • Personal accident cover for paid driver / employee
  • Legal liability for paid driver/ employee in connection with the operation of the insured vehicle
  • Legal liability to fare / non-fare paying passengers
  • Cover for lamps tyres / tubes mudguards bonnet / side parts bumpers headlights and paintwork of the damaged portion only
  • Use of commercial type vehicles for both commercial and private purposes
  • Cover for Overturning applicable for Miscellaneous Type of Vehicles

Click here to read the policy wording.

What are the exclusions on HDFC ERGO Commercial Vehicles Insurance policy?

The following are the exclusions on the policy that you should note:

  • General aging, wear and tear
  • Damage by a driver without a valid driving license
  • Mechanical or electrical breakdown, failure
  • Damage by a person driving under the influence of liquor / alcohol / drugs
  • Depreciation, any consequential loss
  • Loss / damage attributable to war / mutiny / nuclear risks
  • Damage to tyres / tubes, unless damaged in an accident
  • Loss / damage, outside India
  • Damage caused by overloading or strain of the insured vehicle
  • Damage to any bridge and/or via duct and/or to any road and/or anything beneath by vibration or by the weight of the insured vehicle and/or load carried by the insured vehicle

Please Note:

* This content is descriptive only. Actual coverage is subject to the language of policy issued.

** These are illustrative exclusions. For a detailed list, kindly refer to the policy wordings.

Disclaimer:
Please note that HDFC Bank is a corporate agent of HDFC ERGO. The Contract of insurance is between HDFC ERGO and the Insured only and HDFC Bank is not a party to the said contract. Participation by customer to buy insurance policy is purely voluntary. Insurance is the subject matter of the solicitation. For more details on coverage, terms and conditions, please read the policy document carefully before conducting a sale.

Certified Corporate Agent's License No. HCG 933982

What is the claims procedure for HDFC ERGO Commercial Vehicles Insurance policy?

In case of any event leading to a claim under the policy, you need call HDFC ERGO’s toll free customer care number 1800-2-700-700. Our claims service representative will guide you on the claim procedure is and the required documents. Here is the basic procedure you will have to follow:

  • Provide your policy number as reference to register the claim
  • Request for help with towing / ambulance services (If required) and claim formalities.
  • If possible, take the vehicle to the nearest dealer / garage.
  • Get a repair estimate, fill up the claim form and attach a copy of the Registration Certificate and license of the driver at the time of the accident.
  • You can avail of the ‘Cashless Claims’ facility in a garage within our network. However, if the garage is outside the purview of our network, you would have to get the claim reimbursed subsequently
  • You will have to pay for non-accident related repairs, depreciation and a small deductible.
  • Lastly, you will have to sign the repairer’s satisfaction voucher

The Claim form and other documents related to the nature of loss can be collected from you by HDFC ERGO personnel. Alternatively, you may send them to our Claims Processing Cell at the following address:

HDFC ERGO General Insurance Company Limited

6th Floor, Leela Business Park,

Andheri Kurla Road,

Andheri - East, Mumbai- 400 059, India

The documents required to successfully complete your claims procedure are as follows:

In case of an accident:

  • Duly filled and signed claim form
  • Registration Certificate (RC)
  • Driving license of the person driving at the time of the accident
  • Policy copy
  • Original repair estimate, repair invoice and payment receipt for non-cashless claims
  • Original repair invoice for cashless claims
  • The additional documents will be required for commercial vehicles:
  • Load challan
  • Fitness certificate
  • Route permit
  • Copy of FIR (First Information Report) lodged at the nearest police station
  • Spot survey (within 6 hours)

In case of a theft:

  • Duly filled and signed claim form
  • Registration Certificate (RC)
  • Original policy copy
  • Copy of FIR (First Information Report) lodged at the nearest police station
  • All original keys
  • No trace report' confirming that the stolen vehicle is not traceable

In case of a Legal Liability Claim:

  • Duly filled and signed claim form
  • Registration Certificate (RC)
  • Driving license of the person driving at the time of the accident
  • Original policy copy
  • Copy of FIR (First Information Report) lodged at the nearest police station
  • Legal notice, if any
  • Vakalatnama – authorising us to handle the case on your behalf

To download the claim form, click here.

Disclaimer:

Please note that HDFC Bank is a corporate agent of HDFC ERGO. The Contract of insurance is between HDFC ERGO and the Insured only and HDFC Bank is not a party to the said contract. Participation by customer to buy insurance policy is purely voluntary. Insurance is the subject matter of the solicitation. For more details on coverage, terms and conditions, please read the policy document carefully before conducting a sale.

Certified Corporate Agent's License No. HCG 933982

Commission on General Insurance

As per RBI circular: RBI/2009-10/225 dated November 16, 2009, following are the details of the comparative commission earned by HDFC Bank from General Insurance, whose products are being distributed:

Commission from General Insurance

Sr. NoClass of business% of premium payable as agency commission
(% of final premium excluding service tax)
1 Fire, IAR and Engineering insurances: -
i - General 10%
ii - Risks treated as large risks under para 19 (v) of File & Use guidelines 5%
2 Motor insurance business (OD portion), WC/EL & statutory Public Liability Insurance 10%
3 Motor Third Party Insurance Nil
4 Marine Hull Insurance 10%
5 Marine Cargo business 15%
6 All other business 15%

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