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What is a Commercial insurance policy?

What is a Commercial Vehicle insurance policy?

Commercial vehicle insurance provides coverage to vehicles used for commercial purposes such as transporting goods to one place to another or carrying passengers. Commercial vehicle insurance covers the losses to insured vehicle in cases such as accidents, fire, theft, riot or natural calamities. It also provides cover against the damages to third party property & covers injuries or death of people involved in an accident with insured vehicle. Buying commercial vehicle insurance is very important to save someone from huge losses at the time of accident and it is also mandatory to have insurance for all vehicles in India as per regulatory guidelines which is why you should always have your vehicle insured at all times. 

Why should you buy a Commercial Vehicle insurance online from MyonelifeX

We facilitate easy claim settlement through robust claim support.


Damages caused to the commercial vehicle in case of an accident.

Natural Disasters

Damages caused to the commercial vehicle due to any natural calamity.

Provides 24x7 claim assistance

We provide 24x7 claim assistance so that your claims are settled fast. You can reach us round the clock at 1800 2666.


Loss or damage to the commercial vehicle due to theft.

Personal Accident

If there is an accident of the commercial vehicle, leading to an injury or death of the driver.


Damages caused to the commercial vehicle due to a fire.

Third Party Losses

Any damages caused by the commercial vehicle to a third party.

Additional Coverages a.k.a Endorsements Available

Sometimes, just a standard coverage isn’t enough to cover for all circumstances. That’s why, we offer optional covers too you can opt for as per your needs, to extend your commercial vehicle’s coverage. 

Personal Accident Cover

If you don’t already have a PA cover, you can include it within your commercial insurance policy plan as having a personal accident cover is mandatory by law. This provides coverage for bodily injury or death of the owner-driver in case of an unfortunate accident.

Unnamed PA Cover

We hope this never happens, but if something happens to the person sitting with you in the vehicle, in an unforeseen accident this cover is a fall back to cover for the same.

Legal Liability

This cover has you protected against any legal liability that arises against you due to an injury caused to your employees / someone who works for you.

IMT 23

This cover helps cover for losses or damages to lamps, tyres, tubes, mudguards, bonnet, side part bumpers, headlights and paintwork in all cases, even if the vehicle is partially damaged.

Special Exclusions & Compulsory Deductibles

Upon every loss there will be certain amount which you will have to pay as your share of the loss called as the compulsory deductible. This will also in turn help reduce your premium. This will also cover the loss or damage to lamps, tyres, tubes, mudguards, bonnet, side part bumpers, headlights and paintwork if your vehicle is completely damaged.

Electrical Accessories

This cover is for those who have fitted any electrical accessory in their vehicle, which is not a part of the manufacturer’s model, this will cover those accessories.

Non-Electrical Accessories

If you’ve fitted any non-electrical accessory in your vehicle which is not a part of the manufacturer’s model, this cover helps cover for those accessories during damages and losses.

What is covered by MyonelifeX Commercial Vehicle insurance policy?

Learn about your two wheeler insurance policy coverage in one glance.

What’s not covered?

It is equally important to know what’s not covered in your commercial vehicle insurance policy so that there are no surprises when you make a claim. Here are some such situations:

Own Damages for Third-Party Policy holder

In the case of a Third-Party Liability Only Policy, damages to own vehicle won’t be covered.

Drunk Riding or without a Licence

If the owner-driver of the claimed vehicle is drunk or driving without a valid licence.

Contributory Negligences

Any damage caused due to contributory negligence of the driver (such as driving when there’s an existing flood)

Consequential Damages

Any damage that is not a direct result of the accident/natural calamity i.e., consequential losses like loss of earnings, loss of market, etc.

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