Commercial Vehicle Insurance is a type of motor insurance policy that provides coverage in case of damages or losses caused by or to a commercial vehicle and its owner-driver. It is a customized motor insurance policy that can include losses and damages in the situation of an accident, natural calamities, collisions, fire, etc. All businesses must purchase a commercial vehicle insurance policy for their motor vehicles like pick-up vans, cabs, auto-rickshaws, tractors, school buses, trucks, commercial vans, etc.
Commercial vehicle insurance plan comes loaded with some salient features. The following are the salient features offered under commercial vehicle insurance:
Commercial vehicle insurance is generally of two types listed below: