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Commercial Vehicle Package Policy

Coverage

Securing the Wheels of Business

Coverage

The Corporate Fleet Insurance policy provides cover for the following occurrences:

  • Loss or damage to vehicles by
    • Accident
    • Fire
    • Lightning
    • Self-ignition
    • External explosion
    • Burglary
    • Housebreaking or theft
    • Malicious act
    • Riot and strike
    • Terrorism
    • Earthquake, flood, cyclone and inundation
    • Whilst in transit by rail, road, air, elevator, lift
  • Subject to the limits of liability as laid down in the policy, the insured will be indemnified in the event of an accident caused by or arising out of the use of any insured vehicle against all sums including claimant’s cost and expenses which the insured shall become legally liable to for:
    • third party injury or death caused by or arising out of the use (including the loading and / or unloading) of any of the insured vehicles, and
    • damage caused to their property caused by or arising out of the use (including the loading and / or unloading) of any of the insured vehicles,
  • By paying an additional premium, one can opt for extra cover in case of:
    • Loss or damage to electrical and non-electrical accessories
    • Personal accident cover for the insured and any named or unnamed passenger(s)
    • ​Legal liability to person employed (paid driver /cleaners)

This is not an exhaustive list. For ​a detailed list of ​inclusions & other details, please read the policy wordings.​​​​​​

Some of the major exclusions under the Corporate Fleet Insurance policy are:

  • Any accidental loss or damage to any property whatsoever or any loss or expense resulting or arising from any consequential loss
  • Any loss occurring due to natural factors like depreciation; wear and tear
  • Any accidental loss or damage and / or liability caused, sustained or incurred by mechanical and electrical breakdown; failure or breakage
  • Any accidental loss or damage and / or liability caused, sustained or incurred when vehicles are used outside the geographical area
  • Any accidental loss or damage and / or liability caused, sustained or incurred when the vehicle is being used contrary to limitations as to use
  • Any accidental loss or damage and / or liability caused, sustained or incurred when the vehicle is being driven by a person other than the driver stated in the driver's cl​ause
  • Any accidental loss or damage and / or liability caused, sustained or incurred directly or indirectly as a result of War perils, nuclear perils and drunken driving

 

This is not an exhaustive list. For ​a detailed list of ​exclusions​ & other details, please read the policy wordings.

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