Bajaj Commercial Vehicle Insurance
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- Bajaj Commercial Vehicle Insurance
Bajaj commercial vehicle insurance protects commercial vehicles, such as trucks, buses, taxis, auto-rickshaws, etc. The insurance policy covers damages caused by accidents, theft, fire, natural disasters, and third-party liabilities. As per the Indian Motor Laws, it is compulsory for vehicle owners to have at least a third-party commercial vehicle insurance to legally ply on roads in India.
About Bajaj General Insurance
Bajaj General Insurance Company Limited is a joint venture between Bajaj Finserv Limited and Allianz SE. It offers a wide range of insurance products, such as health, travel, home, commercial vehicle insurance, and more. The company is known for its seamless online process and customer-centric approach with a quick claim processing.
Key Features of Bajaj Commercial Vehicle Insurance
| Features | Coverage/Benefit |
| Own Damage Cover | Yes (under Package Policy) |
| Third-Party Coverage | Yes |
| Personal Accident Cover | Up to ₹15 lakh for owner-driver |
Benefits of Bajaj Commercial Vehicle Insurance
A commercial vehicle insurance from Bajaj has the following benefits:p>
- Easy purchase and renewal process
- Quick claim intimation and settlement
- Cashless repairs at network garages
- Optional add-on covers for increased protection
- 24x7 customer supportli>
- Nationwide service network
Types of Commercial Vehicle Insurance
Bajaj offers two types of commercial vehicle insurance policy:
- Third-Party Commercial Vehicle Insurance: The third-party commercial vehicle insurance, also known as a liability only policy. It is a mandatory insurance policy as per the Motor Vehicles Act and covers third-party liabilities, such as bodily injury, death, or property damage caused by the insured vehicle.
- Comprehensive Commercial Vehicle Insurance: The comprehensive commercial vehicle insurance, also known as a package policy, provides the maximum protection. It not only covers third-party liabilities but also damages caused to the insured vehicle due to accidents, fire, theft, and natural disasters. Insurers also offer several add-ons to increase the protection.
Coverage Under Bajaj Commercial Vehicle Insurance
A Bajaj commercial vehicle insurance covers the following:
- All third-party damages and legal liabilities
- Damages caused due to road accidents and collisions
- Losses incurred due to fire, explosion, self-ignition, or lightning
- Damages or losses caused due to burglary, housebreaking, or theft
- Damages caused by natural disasters, such as flood, storm, cyclone, earthquake, landslides
- Losses incurred due to malicious acts or terrorist activities
The insurer is not liable to cover the following damages:
- Any consequential loss
- Damages due to general wear and tear
- Mechanical or electrical breakdown
- Damages due to overloading or illegal use
- Losses incurred outside the geographical area
- Damages incurred when the driver is intoxicated or under the influence of alcoholli>
- Losses caused when the driver is without a valid license
Bajaj Commercial Vehicle Add-Ons
Bajaj commercial vehicle insurance can also be clubbed with various add-ons to enhance the coverage at an additional premium. Some of the common add-ons available are mentioned below:
- IMT 23 Cover: The add-on provides protection for parts that are generally excluded under a standard commercial vehicle insurance. IMT 23 covers damages caused to parts, such as lamps, tyres, tubes, mudguards, bonnet, etc, in an accident after deducting the applicable depreciation.
- Accessories Cover: This add-on covers damages caused to electrical and non-electrical accessories that are additionally fitted. Damages caused to parts like music systems, LED lighting, GPS devices, and customized fittings are covered with this add-on in case of accidental damage or theft after deducting the depreciation costs.li>
- Zero Depreciation Cover: Typically, when you file an own damage claim, the insurer deducts depreciation costs on replaced or repaired parts based on the vehicle's age. This add-on covers the full cost of replaced parts without deducting depreciation, as per the policy terms.
How to Buy Bajaj Commercial Vehicle Insurance
Here are the steps to buy or renew a Bajaj commercial vehicle insurance policy online:
- Visit policybazaar.com and choose the 'Commercial Vehicle Insurance' option.
- Enter the required details such as vehicle registration number and submit the form.
- Select the IDV and the desired add-ons.
- All the available plans will be displayedli>
- Choose a suitable Bajaj plan.
- Pay the premium and the policy will be sent instantly to your email address.
How to File a Bajaj Commercial Vehicle Insurance Claim?
Claim Intimation
Notify the insurance company immediately after the incident to start the claim process.
Damage Assessment
A surveyor will be sent by the insurer to inspect the damages.
Document Submission
Submit the claim form, RC, driving license, FIR (if applicable), and other required documents.
Repair and Settlement
Get the vehicle repaired at a network garage or opt for reimbursement after repairs.
Documents Required for Bajaj Commercial Vehicle Insurance Claim
- Registration Certificate (RC)
- Driving License
- Duly filled Claimli>
- Permit and Fitnessli>
- Load Challan / Invoice (if applicable
- FIR (in case of theft, third-party damage, or injury
- Final Repair Bill
Bajaj Commercial Vehicle Insurance: FAQs
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Q1. What is covered under Bajaj commercial vehicle insurance?
Ans: A third party commercial vehicle insurance only covers third party liabilities, whereas a comprehensive policy covers accidental damage, theft, natural calamities, fire, third-party liabilities, etc. -
Q2. Is zero depreciation cover available with Bajaj commercial vehicle insurance?
Ans: Yes, you can purchase the zero depreciation add-on with your Bajaj commercial vehicle insurance to claim the full cost of replaced vehicle parts during repairs without any depreciation deduction. -
Q3. Who can buy the Bajaj Commercial Vehicle Insurance?
Ans: All businesses, companies, government agencies and corporations, who own any goods carrying vehicle or passenger-carrying vehicle, can buy a Bajaj commercial vehicle insurance.
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Q4. What is the Bajaj Commercial Vehicle Insurance price?
Ans: The Bajaj commercial vehicle insurance price depends on various factors such as policy type, engine capacity, make, model, etc. You can check the Bajaj commercial vehicle insurance premium online on the official website or on websites like policybazaar.com. -
Q5. Can I buy Bajaj Commercial Vehicle Insurance online?
Ans: Yes, you can easily buy Bajaj commercial vehicle insurance online either through the official website or Policybazaar Insurance Brokers Private Limited. -
Q6. What are the steps for Bajaj commercial vehicle insurance policy download?
Ans: You can download your Bajaj commercial vehicle insurance policy online by logging on the official website of Bajaj General Insurance. Additionally, you can also download it from policybazaar.com by signing in to your account.
Secure your commercial vehicle
Renew via self video inspection
Lowest premium starting ₹ 3,139
Standard T&C Apply.
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*Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.
“20+ insurers to choose from#” and “1.2cr+ vehicles insured#” are provided for both private cars and commercial vehicles
^Renew policy in 2 minutes is subject to operations not being impacted by a system failure, technical glitch, insurer downtime, force majeure event, or for reasons beyond our control. Actual transaction time may vary, subject to additional data requirements and operational processes.
“For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale” “All savings and online discounts are provided by insurers as per IRDAI-approved insurance plans | Standard Terms and Conditions Apply”.
+₹3,139/- excluding GST per annum is the price for third-party commercial vehicle insurance for Electric Goods Carrying E Cart 3-Wheeler (commercial).
