Purchasing add-ons with commercial car insurance is a great way to enhance its coverage without having to purchase a more comprehensive plan.
Business car insurance add-ons provide dedicated coverage for specific events based on your requirements. If you are planning to invest in commercial car insurance, this blog is for you.
Best Commercial Vehicle Insurance Cover
Most of the add-ons available for personal car insurance are available for commercial car insurance as well. While the benefits may change, the coverage area of such add-ons remains the same. Having said that, below are some of the best commercial car insurance covers available with Reliance Commercial Vehicle Insurance plans:
Nil Depreciation Cover
Nil Depreciation Cover of Zero Depreciation Cover is a popular business car insurance add-on that allows you to claim the full value of replaced vehicle parts in case of damage or loss. As a benefit of this cover, you don’t have to worry about the depreciation value of your vehicle.
An important thing to note about Nil Depreciation cover is that it is only available under select plans and for select make-models of a vehicle.
Additional Towing Charges
You may need to tow your commercial vehicle after a breakdown in a remote location. By purchasing this add-on, you can avoid paying the hefty towing fees out of pocket.
Your insurance company will reimburse an additional amount towards towing charges resulting from an accident involving your vehicle.
EMI Protection Cover
This is another add-on in the commercial vehicle category. With EMI Protection Cover, we reimburse the EMI amount towards the auto loan, if your vehicle is parked in our registered garage for a period of more than 30 consecutive days for repairs.
Note that this cover is not applicable in case of theft or total damage to the vehicle.
Daily Allowance Benefit
If you have this cover, we will provide you with a daily allowance to compensate for the loss for the period your car is kept for more than 30 days for repairs in our network garage.
Note that you can only benefit from this commercial vehicle insurance cover if the damages to your vehicle have been incurred from an insured event.
Emergency Hotel Accommodation
Our Emergency Hotel Accommodation Cover reimburses the cost of emergency hotel accommodation in case of theft or an accident of your insured vehicle.
The benefit of this cover is only available when the insured vehicle is at least 300 kilometres from the address you have specified in the policy proposal form. Moreover, if your vehicle is involved in an accident but is in a condition to be driven, this cover is not applicable.
Tools and Equipment Cover
Our tools and equipment cover is another useful add-on for business car insurance. It allows you to claim allowance for any damage or loss to the tools and equipment of your insured car in the event of theft and unforeseen accidents.
Note – This cover is not applicable if the proper preventative measures against damage or loss were not in place, i.e. your vehicle was left unattended.
NCB Retention Cover
No Claims Bonus offers a policy renewal discount if you don’t make any claims during the policy period. By purchasing the NCB Retention Cover, you can retain your NCB rewards even after making a claim during your policy.
Note that the benefit of this business insurance add-on is only applicable for one approved claim during the policy period. This means you will not benefit from the coverage if you make more than one claim during your tenure.
Personal Accident Cover
Personal Accident Cover is one of the most useful add-ons in commercial car insurance. With our personal accident cover, you are entitled to reimbursement in case of any accidental injury, disablement or death.
We offer 100% of your selected sum insured in case of death or disability resulting from an accident. Not just that, we also offer up to 75% of your sum insured in case of partial total disablement.
This cover also provides education funds to a dependent child in case of a policyholder’s accidental death.
Reliance Commercial Vehicle Insurance Starting @10% of Selected Sum Insured
Whether you are the owner or driver of a commercial four-wheeler, you should invest in our
commercial car insurance. By adding business insurance to your car insurance, you can protect yourself and your vehicle against potential mishaps.
To get the best plan, we recommend looking into both the
pros and cons of commercial car insurance and comparing different policies online.
At Reliance General Insurance, we cover a range of events, including road accidents, malicious acts, natural calamities, fire, explosions, burglary/theft, terrorist activities and more.
In addition, you get numerous benefits, such as quick claims settlement and instant policy purchases under our
car insurance plans.
Frequently Asked Questions
Is it important to purchase commercial car insurance?
Yes. as it is mandatory for every vehicle owner to purchase motor insurance. Besides, it also provides you with financial coverage for unforeseen losses. For these reasons, you should consider adding business insurance to your car.
What is the price of a commercial vehicle insurance cover?
The cost of a commercial vehicle insurance cover is different across insurers and depends on many factors. It is calculated based on the type of vehicle and the risks it is exposed to.