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₹30,000 onwards

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Why LocoInsure's Commercial Vehicle Insurance?

Budget Friendly Premium Rates

Be certain that your commercial vehicles are insured with the best in the market. With LocoInsure's commercial vehicle insurance, you do not have to worry about skyrocketing premium rates.

Seamless Claim Settlement

We help you with a smooth claim settlement process, with an option of in-app claim settlement of the damaged vehicle. We guarantee the fastest possible settlement service across India.

Convenient Covers

Tired of paperwork? So are we. That's why we cater to all your insurance needs at the tap of a button. Get convenient covers so that you can focus on optimising your business operations.

Secure Information Transfer

Safety of your information is our priority. With LocoInsure, stay assured about the security of all your private data and insurance details.

Proof of Coverage

Get your insurance at LocoInsure in just a matter of few minutes. Get authentic proof of coverage instantly with our transparent, easy and reliable insurance policies.

Uninterrupted Customer Service

Whether you need help with insurance documents, or simply have a query, our customer service is always there to assist you. With PAN India presence, you can seek remedies for your concerns with no interruption.

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General FAQ's
By providing security against any damage by impact, fire, earthquake, theft, etc., a comprehensive insurance policy provides holistic coverage and protection to your commercial vehicle. Along with that, this policy covers any third party liability that may come from death, property damage by a third party or any bodily harm.
Commercial vehicles are at an increased risk for any calamity since they ply on unsafe highways and carry large loads. The vehicle can get involved in an accident, passengers can get injured and the vehicle can get damaged. Or the commercial vehicle may experience mechanical failure, and is rendered unusable.
Essentially, there is no fixed amount for commercial vehicle insurance since there are several factors that come into play when evaluating the cost. Moreover, there are different plans and coverages as per your requirement and your commercial vehicle fleet size.
Insured Declared Value, or IDV, is the maximum amount fixed by your insurance provider that will be paid to you in case your commercial vehicle gets stolen, or meets with an accident. Taking into account the age of the vehicle, the simple formula to calculate IDV is: IDV = [Manufacturer's listed selling price-depreciation value for the vehicle] + [Cost of additional accessories (if applicable) - depreciation value of the accessories (if applicable)] Learn how to calculate IDV for your vehicle now.
Generally, there are two major types of coverages that are offered for commercial vehicle insurance, and you can get add-on covers as well, depending on your requirements. The two types of coverage include third-party coverage, that covers third party damages and liabilities only, and comprehensive cover, that protects against all damages incurred to your own vehicle, as well as the third party vehicles involved.
There is a basic formula that is followed by all insurance companies when it comes to commercial vehicle insurance premium calculation. The formula is: Premium = Own Damage Premium - (No Claim Bonus + Discounts) + Liability Premium as fixed by the IRDAI + Charges of Add-ons Know all about commercial vehicle insurance premiums now.
There are two types of commercial vehicle claim processes that you can avail: cashless claims, wherein the insurance provider pays for all repairs that are done in the company's network of garages, and reimbursement claims, where you need to settle the bill at the repairing station and apply for a reimbursement later.
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Did You Know?

We have digitally mapped all service stations/OEM authorized workshops and help the driver to navigate to the nearest workshop/garage in case of any accident.

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