Commercial Vehicle Secure (Goods Carrying Vehicle) -Truck Insurance

We understand that bigger wheels need more assurance, and so we have come up with Commercial Vehicle Secure - Goods Carrying Vehicle – A comprehensive truck insurance plan that provides complete protection for your goods carrying vehicles.

Key benefits

Own damage cover

We provide cover if your car is damaged partially or completely due to any natural calamities (such as; fire, explosion, self-ignition/lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide, rockslide, etc.) or man-made calamities (such as; burglary, theft, riot, strike, malicious act, accidental external means, terrorist activity, damage in transit by road, rail, inland waterway, lift elevator or air, etc.)

Personal accident cover for owner driver

We provide financial security to owners when they are driving the insured vehicle. This protection is extended to paid drivers and other passengers in the car as well, as long as the number of passengers is limited to the carrying capacity of the car, excluding the driver.

Third-party legal liability

In order to keep everybody safe, Commercial Vehicle Secure provides cover for any damage to third-party property and third-party bodily injury (including death) caused by an accident involving the insured vehicle.

Comprehensive cover

To provide complete protection, Commercial Vehicle Secure covers all electrical and non-electrical accessories as well as bi-fuel systems of the vehicle. If you would like to avail of other India motor tariff endorsements, you can do so by paying the required additional premium, if any.

No claim bonus

Based on your previous claim history, you are eligible for an attractive No Claim Bonus (NCB). If you do not make any claims in the preceding year or years, you are entitled to an NCB on the Own Damage (OD) section of the policy based on the following table:

Period of Insurance	% of NCB on OD Premium
The preceding year	20%
Preceding 2 consecutive years	25%
Preceding 3 consecutive years	35%
Preceding 4 consecutive years	45%
Preceding 5 consecutive years	50%

Do remember, you will be eligible for the NCB only if the insurance policy is renewed within 90 days of the previous policy’s expiry date.

However, in the case of Military or Paramilitary Personnel working in Forward Areas, the period of 90 days may be extended up to 365 days, depending on the circumstances of each individual case with a declaration in writing by the policyholder that the vehicle was not put to use during the interim period.

Register a claim/claim process

Call us on 1800-2120 (8 a.m. – 8 p.m.) and intimate us about your claim with the details of your policy

Once your claim is registered, our customer support executive will provide you with a Claim Reference Number

You will be required to submit the relevant documents, which may include your Driving License, RC Copy, and Policy FIR Copy, in accordance with the Policy terms and conditions

We will arrange for an inspection to be conducted within 24 hours if a claim is reported on a working day, and on the next working day if the claim is reported on a Sunday or a public holiday

On cashless facility confirmation, the vehicle can be repaired at a preferred network garage, and the payment will be made directly to the garage

You will only be required to pay the deductible as mentioned in the policy, and the depreciation value, salvage, etc., as informed by the surveyor

Call us on 1800-2120 (8 a.m. – 8 p.m.) and intimate us about your claim with the details of your policy

Once your claim is registered, our customer support executive will provide you with a Claim Reference Number

You will be required to submit the relevant documents, which may include your Driving License, RC Copy, and Policy FIR Copy, in accordance with the Policy terms and conditions

We will arrange for an inspection to be conducted within 24 hours if a claim is reported on a working day, and on the next working day if the claim is reported on a Sunday or a public holiday

On cashless facility confirmation, the vehicle can be repaired at a preferred network garage, and the payment will be made directly to the garage

You will only be required to pay the deductible as mentioned in the policy, and the depreciation value, salvage, etc., as informed by the surveyor

FAQs

The Insured's Declared Value (IDV) of the vehicle is the maximum Sum Assured fixed by the insurer at the beginning of each policy period for the insured vehicle. If the vehicle suffers total loss/constructive total loss (CTL), the IDV is the compensation that the insurer will provide to the policyholder.

The IDV of the vehicle is fixed on the basis of the manufacturer's listed selling price of the brand and model of the vehicle proposed for insurance at the commencement of insurance or at renewal, and is adjusted for depreciation (as per the schedule specified below). The IDV of the sidecar(s) and/or accessories, if any, fitted to the vehicle, but not included in the manufacturer's listed selling price of the vehicle is also likewise to be fixed.

Age of the Vehicle	% Depreciation for Fixing IDV
Not exceeding 6 months	5%
Exceeding 6 months but not exceeding 1 year	15%
Exceeding 1 year but not exceeding 2 years	20%
Exceeding 2 years but not exceeding 3 years	30%
Exceeding 3 years but not exceeding 4 years	40%
Exceeding 4 years but not exceeding 5 years	50%

An endorsement is written evidence of an agreed change in policy terms.

Typically, general insurance contracts are for a period of one year, unless stated otherwise. Please check your policy certificate cum schedule to determine the period of coverage.

Waiting period/Exclusions

At Zurich Kotak General Insurance, we value transparency above everything else. Here's a list of what we don't cover under our Commercial Vehicle Secure Policy, so we can avoid any inconvenience at the claims stage.
Loss/damage to the vehicle/accessory/accessories arising by the following will not be covered:

Normal wear and tear and general aging of the vehicle
Depreciation or any consequential losses
Vehicle being used otherwise than in accordance with limitations as to use
Mechanical/electrical breakdown
Any contractual liability
Damage to/by a person driving the vehicle under the influence of drugs or liquor
Damage to/by a person driving the vehicle without a valid license
Damages due to nuclear risk or war
Damages to tyres and tubes unless the vehicle is damaged at the same time, in which case the liability of the company shall be limited to 50% of the cost of replacement
Damage caused by overloading or strain of the insured vehicle
Damage to any bridge and/or via duct and/or to any road and/or anything beneath by vibration or by the weight of the insured vehicle and/or load carried by the insured vehicle

Cancellation Grid: In case you would like to cancel your policy within a year, we will retain a portion of the premium as specified below:

Period	% of Annual Premium
Not Exceeding 1 month	20%
Exceeding 1 month but not exceeding 2 months	30%
Exceeding 2 months but not exceeding 3 months	40%
Exceeding 3 months but not exceeding 4 months	50%
Exceeding 4 months but not exceeding 5 months	60%
Exceeding 5 months but not exceeding 6 months	70%
Exceeding 6 months but not exceeding 7 months	80%
Exceeding 7 months but not exceeding 8 months	90%
Exceeding 8 months Full Annual Premium	Full Annual Premium

Product	UIN No.
Commercial Vehicle Secure (Goods Carrying Vehicle)	IRDAN152RP0008V04201516

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