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ICICI
Lombard
Commercial Vehicle Insurance
Commercial Vehicle Insurance
What does the policy cover
ICICI Lombard the commercial insurance policy which offers
third party cover for goods carrying commercial vehicles. This
cover is applicable to Public and Private Carriers including Motorized Three
Wheelers and Motorized Pedal Cycles. The Indian Motor Tariff defines the goods
carrying commercial vehicle as :-
- Public Carriers (other than three
wheelers)
- Private Carriers (other than
three wheelers)
- Goods Carrying Motorized Three
Wheelers and Motorized Pedal Cycles. (Public Carriers)
- Goods Carrying Motorized Three
Wheelers and Motorized Pedal Cycles. (Private Carriers)
It covers you for:
a) Personal Injury
b) Property damage
Third Party Insurance cover for Personal Injury includes:
Liability for death or injury to third parties - This means that you are
insured against death or injury (caused by your vehicle) to pedestrians,
occupant of other vehicles, and outsiders other than passengers.
To Know more you can use these
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Factors Determining the Premium
The premium for Commercial Vehicle Insurance is calculated on carrying capacity
- gross vehicle weight and value of the vehicle. Accessories will be charged
extra, as specified
Sum Insured
The Insured's declared value or IDV is the fixed value at
which the vehicles are insured. It is calculated on the basis of the
manufacturer's listed selling price of the vehicle and its accessories. Note one
thing that each year the deprecation is also deducted as per the rules of the
Indian Motor tariff.
Need
for a commercial vehicle insurance
In order to protect your goods and the vehicle a commercial vehicle insurance is
always reliable. Owning a Commercial Vehicle Insurance
is critical especially in the event that you are self-employed, should a
work-related injury or damage claim be made against you.
To
know more visit - www.icicilombard.com
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