Commercial vehicles are the lifeline of a business. We must not undermine the use of such a crucial vehicle. These vehicles are the most exploited by accident or natural calamities. For such vehicles, the insurance companies have come up with insurance so that the load of the calamity may not become a hindrance to the owner.

Commercial vehicles are categorised into two different sections. One is goods carrying vehicle and the other are passage carrying vehicles. Commercial vehicles are not only important to the owners but it plays a vital role in everyone's life. As they are used for travelling from one place to another and on the other hand these are used to carry crucially essential goods that are used regularly. These vehicles are the ones which are regularly on travel. They are not meant to keep in the workshop.

Commercial vehicles are the vehicles that are most common to an accident. The frequent use and load-carrying of these vehicles make them most vulnerable to accidents. No owner or businessman wants to stop these vehicles after an accident because of financial or legal issues. For such an incident insurance companies assist the vehicle owner. Commercial vehicle insurance is the policy that assists the insured vehicle at the time of a natural or man-made calamity.

Commercial Vehicle Insurance is a policy that provides aid for third-party liability and own damage. There are mainly two different types of insurance policies for a commercial vehicle.

· Third-party insurance policy - This policy will protect you from the liability of a third party. The penalties or imprisonment are also vandalised by insuring a vehicle by third-party insurance, as this policy is mandatory by the government Motor Vehicle Act.

· Comprehensive Insurance - under this policy there are three types of policies are covered. Third-party insurance, personal accident insurance and own damage policy. Own damage policy will cover the vehicle for external threats. This means that the insured vehicle will be compensated by the insurance company in act of a natural or man-made calamity. The natural and man-made calamities that are covered are accidents, earthquakes, floods, theft, cyclones, thunderstorms, landslide, etc. are a few of examples.

They are two different kinds of policies proposed by the insurance sector for a commercial vehicle. If you are looking for an insurance plan for your commercial vehicle, one of them can be opted for by you. If you would like to have a suggestion, we would recommend you to have a comprehensive insurance policy. If you want a full cover for your business vehicle that covers natural and made calamity, third-party liability and personal accident insurance for your driver then a comprehensive policy is the best policy you can opt for. But if you want to ensure your vehicle from third-party liability only then you can go for a third-party insurance policy.

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