Frequently Asked Questions about Passenger Carrying Vehicle Insurance

If a person fails to renew his commercial vehicle insurance on time, the following consequences will occur:

• If the vehicle is involved in an accident, the insurer will not pay the claims
• The insured will not receive any no-claims bonus
• Driving a vehicle with expired insurance is illegal and can result in fines

The Third-Party insurance policy covers the following risks:

• Third-party death or injury
• Third-party vehicle and property damages

The vehicles are insured for a fixed sum known as the Insured Declared Value (IDV). IDV calculation is based on the manufacturer's listed selling price of the vehicle plus the listed price of any accessories (less depreciation for each year) according to the schedule specified by the Indian Motor Tariff IDV

Yes, you can renew your Passenger Carrying Vehicle Insurance policy online in India

Comprehensive coverage protects your vehicle from unforeseen events such as fire, theft and earthquakes. It also covers any third-party liability in terms of death, bodily injury and thirdparty property damage

If the insured does not file a claim with the insurer during the policy period, he or she will be eligible for NCB when renewing their policy. This is referred to as the No Claim Bonus or NCB. The NCB increases for every subsequent claim-free year up to 50%

• Accident due to External Factors
• Vehicles Outside the Defined Territory
• Other Accidental Losses
• Consequential loss
• Wear and tear
• Mechanical and electrical breakdown/failure or breakages
• Loss due to Nuclear/Radioactive Elements
• Losses connected to war and related activities are not covered under this policy

If you don't renew your Passenger Carrying Vehicle Insurance policy on time, you will lose the coverage and will have to pay a penalty to renew it

No, it varies depending on the vehicle category

Yes. The policy holder must specify the value of the accessories installed in the vehicle before purchasing the insurance policy

Yes, you can transfer your Passenger Carrying Vehicle Insurance policy to a new owner when you sell your vehicle

The survey report will be submitted within 7 days, depending on the location of the insured premises

• Instant Claim Notifications 
• Quick Claim Settlement
• Simple Claim Procedure
• Exceptional Customer Assistance

The insured must provide documents such as the vehicle registration certificate, driving licence and ID proof to claim passenger-carrying vehicle insurance in India

Yes. The add-ons can be purchased at any time of the policy period for an extensive coverage

The time taken to process a Passenger Carrying Vehicle Insurance claim in India depends on the nature of the claim and the insurance company's policies

Yes, you can purchase this insurance policy online through the website of your chosen insurer