What You Need To Know About Third Party Insurance For Commercial Vehicle?

third party insurance

Buying third-party commercial vehicle insurance is extremely important if you own a commercial vehicle and rely on it for your living. According to the Indian Motor vehicles act it is compulsory for every vehicle owner to have a proper third party insurance plan to cover third-party damages and legal liabilities. If you solely depend on your vehicle for income, it is necessary to opt for an insurance plan to safeguard yourself financially. You can easily opt for commercial vehicle insurance online without actually stepping out of your house. Here are all the details you need to know about third-party commercial vehicle insurance. Keep reading to know more!

What is commercial third-party insurance? 

Third party insurance is an insurance policy that provides coverage against any financial emergencies during an accident that involves third-party damage and legal liabilities associated with it. This damage to the third party can be in the form of impairment to the vehicle or an injury to the body. In both cases, you are required to have proper third party insurance to keep all these expenses covered. If not, you will have to go through a lot to arrange the required amount of money and deal with the entire situation alone. If you own a public vehicle like cab or rental car, then you need to opt for commercial third party insurance. 

Is buying commercial vehicle insurance online important? 

Yes, it is extremely important. If you are purchasing a vehicle, you will be require to look after it in more ways than one. One of those ways is to get insurance coverage. Be it a personal vehicle or commercial vehicle, it is compulsory to have third party insurance in place to drive in India.

With this done, you can safeguard your vehicle and yourself against any unfortunate cases of accidents, where you need a good amount of money immediately. This not only eases the process of helping the third party, who is the victim in any accident cause by your vehicle but also acts as your saviour in the hour of need. You do not have to worry yourself out, thinking of the large amount of money that it takes to help the third party, and also to repair your own vehicle. The process of getting commercial vehicle insurance online is very simple and effortless. Get it today!

Can I purchase commercial third-party insurance online? 

Yes, definitely. You can easily buy commercial vehicle insurance online. Most insurance providers offer their services online via websites and applications, helping people with all their insurance-related needs. 

You can easily buy commercial vehicle insurance online by logging into the website of the insurance provider to find the best and the most reliable insurance plans. Going through their website, you will get an idea of the plans they offer and the plans that you might need for your vehicle. 

Is personal vehicle insurance different from commercial vehicle insurance? 

Yes, they are very different from each other. When you are purchasing an insurance cover for a private vehicle that you own and use for your own purposes, that insurance is call personal vehicle insurance. Whereas, if you are buying an insurance cover for a taxi or any other similar public vehicle which is use for commercial purposes, that insurance cover is call commercial vehicle insurance. However, having a third party insurance cover for both these vehicles is mandatory. 

Who is eligible for buying commercial vehicle insurance online? 

All the drivers and vehicle owners who have a driving license can apply to get commercial vehicle insurance online. If you want to buy third party insurance and do not have a driving license. You might as well get one made. It is illegal to drive without having a driving license, and thus, no insurance coverage will be given to you. 

What are the perks of third party insurance for a commercial vehicle? 

  • The insurance cover includes the bodily and vehicle-related damages, not letting you pay for them out of your own pocket. 
  • You can rest assure that you do not have to arrange a large amount of money. For the third-party liabilities in the hour of need. 
  • It provides financial support to the third party involve in the accidental situation, supporting them. 
  • In case of any damage or bodily injury, the policyholder doesn’t have to deal with the situation. The car insurance provider helps him with all the processes. Aiding to support the policyholder and the third party at the same time. 

There are numerous best commercial third party insurance providers in the Indian market like Bajaj Allianz and ACKO. By visiting their website and comparing the policy inclusions online. You can easily apply to get your commercial vehicle insurance online without any hassle. Check it out today!

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