HDFC ERGO commercial vehicle insurance

Introduction on HDFC ERGO Commercial vehicle insurance

HDFC ERGO General Insurance Company is a joint venture between HDFC Limited of India and the Munich based ERGO International AG. HDFC Limited holds 74% equity in this joint venture while the remaining 26% is held by Ergo International AG.

HDFC ERGO Commercial vehicle insurance is a financial safeguard for a large variety of situations, Commercial vehicle insurance becomes one of the most important purchases you’ll make. HDFC ERGO Commercial vehicle insurance take care of all damages caused due to natural disaster such as an earthquake or flood; or somebody damages or steals your car. HDFC ERGO commercial vehicle insurance package policies for Commercial Vehicles across the various classes of vehicles like Goods Carrying Vehicles both Private and Public Carrier, Trailers, Passenger Carrying Vehicles, Miscellaneous and Special Types of vehicles – Mobile Rig, Shovels, Grabs, Tractor, Excavator etc.

Key benefits and features of HDFC ERGO Commercial vehicle insurance

• Cashless claim service over 1600+ authorized network of garages across India.
• No claim bonus is available.
• Superior service levels and Standardized processes.
• Recognized as one of the fastest claims settling Insurance Companies among private insurers.
• Comprehensive support through our dedicated customer support team.
• No lengthy procedures.
• Instant Online Policy.
• Online renewal process of policy is available.

HDFC ERGO Commercial Vehicle insurance policy Premium package would depend on:

• Sum Insured / Insured’s Declared Value (IDV)
• Type of vehicle
• Age of the vehicle
• Place of Registration
• Fuel type (Petrol / Diesel / CNG / LPG)

Choose a variety of optional covers on payment of additional premium, as listed below:

• Electrical / Non Electrical items can be insured separately.
• Personal Accident cover for owner driver.
• Personal Accident cover for Named / Unnamed Passengers.
• Personal Accident cover for paid driver / employee.
• Legal liability for paid driver in connection with the operation of the Insured vehicle.
• Legal liability to employees in connection with the operation of the Insured vehicle.

Factors covered under HDFC ERGO Commercial vehicle Insurance

Loss or damage to the vehicle insured caused by any one of the following events:

• Accident by external means.
• Burglary, House Breaking or Theft.
• Fire, Explosion, Self Ignition, Lightning.
• Terrorism, Riots, Strikes, Malicious Acts.
• Transit by road, rail, inland waterways, air or lift.
• Earthquake, Flood, Storm, Landslide or Rockslide.

Liability To Third Parties

• Death or Bodily injury to any person caused by or arising out of the use (Including while loading and unloading of the vehicle).
• Damage to property caused by the use (Including while loading and unloading of the vehicle).

In addition, your policy also includes

• Reimbursement of towing charges upto Rs. 750, Rs. 1500 and Rs. 2,500 varies depending on the vehicle type.
• Ambulance assistance services.

Personal Accident Cover for Owner-Driver

Calculation of Depreciation levels under HDFC ERGO Commercial vehicle Insurance

Subject to a deduction for depreciation, the rates are mentioned below in respect of parts replaced :

1. For all rubber/ nylon / plastic parts, tyres and tubes, batteries and air bags – 50%
2. For fiberglass components – 30%
3. For all parts made of glass – NIL
4. Rate of depreciation for all other parts including wooden parts will be as per the following schedule.

Sum Insured calculation under HDFC ERGO Commercial vehicle Insurance

The Insured’s Declared Value (IDV) of the vehicle will be considered as the ‘Sum Insured,’ fixed at the commencement of each policy period for the insured vehicle.

Factors not covered under HDFC ERGO Commercial vehicle Insurance

• General Ageing, wear and tear.
• Damage by a person driving without a valid driving license.
• Mechanical or Electrical breakdown, failure.
• Damage by a person driving under the influence of Liquor/Alcohol/Drugs.
• Depreciation, any consequential loss.
• Loss /Damage attributable to War /Mutiny /Nuclear risks.
• Damage 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.
• Loss /Damage outside India.
• Any Claim arising out of any contractual liability.

Rules Applicable to Tankers carrying Hazardous Chemicals

1. As per rule 129-A every goods carriage carrying goods of dangerous or hazardous nature to human life , shall be fitted with a spark arrester.
2. As per Rule 131, Responsibility of the consignor for safe transport of dangerous or hazardous goods.
   • The goods carriage has a valid registration to carry the said goods.
   • The vehicle is equipped with necessary first aid, safety equipment and antidotes as may be necessary during any accident.
   • Should have full adequate information about the dangerous or hazardous goods being transported.
   • Driver should be trained in handling the dangers posed during transport of such goods.
3. Every consigner should give full information to the owner or driver regarding the goods transported. So that they can be aware of risks created by such dangerous goods.
4. The owner of the hazardous goods carrier and the consigner of such goods should give the route for each trip, so that permissions can be taken by the Police Authorities. They will fix a time table for each trip.
5. It is the responsibility of the driver that the information given to him should be in written format.
6. Driver should ensure that the goods carriage is parked in a place which is safe from fire, explosion and any other risk, and at all times the vehicle remains under the control and supervision of the driver or some other competent person above the age of 18 years.

Documents Required to buy HDFC ERGO Commercial vehicle insurance policy

• Duly filled and signed claim form
• Driving license
• Registration book copy
• Copy of insurance certificate
• Load Chalan
• Route permit
• Fitness certificate
• FIR
• Tax paid receipt.

Claim Procedure for HDFC ERGO Commercial Vehicle Insurance Policy

Documents Required for claim in HDFC ERGO Commercial vehicle insurance policy

In case of accident to the insured vehicle

1. Duly filled and signed claim form and satisfaction voucher.
2. Registration certificate (RC).
3. Driving license of the person driving at the time of accident.
4. Original repair estimate, repair invoice.
5. Payment receipt for non cashless claims.
6. Original repair invoice for cashless claims.
7. AML documents for amount more than 1 lac
   • PAN Card.
   • 2 Passport size photos.
   • Residence proof.
8. Form no 35 and original NOC from financier.
9. A copy of FIR is required in case of third party injury/death/propertty damage.

In case of theft

1. Duly filled and signed claim form and satisfaction voucher.
2. Original Registration certificate (RC).
3. Original Policy copy.
4. Copy of FIR.
5. All original keys and vehicle invoice copy.
6. No trace report confirming that the stolen vehicle is not traceable.
7. Form 26,28,29,30,35 duly signed by RTO transfer papers.
8. AML documents for amount more than 1 lac
   • PAN Card.
   • 2 Passport size photos.
   • Residence proof.

HDFC ERGO Commercial Vehicle insurance policy renewal procedure

1. Visit www.hdfcergo.com to renew instantly online.
2. SMS “RENEW <Policy No” to 9999700700.
3. Visit HDFC ERGO  nearest branch/ agent.
4. Send a copy of the renewal notice along with premium cheque to HDFC ERGO branch/corporate office.
5. Call our toll free number 18002700700.

HDFC ERGO Commercial Vehicle Insurance policy Premium Calculator

Through HDFC ERGO Commercial vehicle Insurance premium Calculator we can calculate the annual premium based on depreciation value and IDV value given. HDFC ERGO Commercial vehicle Insurance Calculator gives you approx amount to be paid during buying new policy and renewing the old policy depending upon the details you have given.

FAQs under HDFC ERGO Commercial vehicle Insurance policy

 1. Can I Renew other insurance policies with HDFC ERGO online?

Ans. Yes. Simply log on to www.hdfcergo.com and provide minimum details of your expiring policy and buy HDFC ERGO Motor Insurance Policy online. Also avail benefits of the No Claim Bonus earned by you in full.

2. What are the different types of Auto Insurance available?

Ans. There are 2 types of covers available:

• Liability Only cover – insures you against any legal liability following an accident involving your vehicle. It does not cover any damage to your vehicle.
• Package cover – Insures all liabilities, as per the Motor Vehicles Act, as well as damages caused to your vehicle.

3. What are the different types of Auto insurance Available?

Ans. HDFC ERGO can provide both Comprehensive and Liability Only Policies for all the below mentioned classes of vehicles:

• Private Car
• Two Wheelers
• Commercial Vehicles
  • Goods Carrying Vehicle (GCV)
  • Trailers
  • Passenger Carrying Vehicles (PCV)
  • Miscellaneous and Special Types of Vehicle

Documents and forms of HDFC ERGO Commercial Vehicle Insurance

HDFC ERGO Commercial Vehicle Insurance Brochure

HDFC ERGO Commercial Vehicle Insurance policy wordings

HDFC ERGO Commercial Vehicle Insurance Proposal Form

HDFC ERGO Commercial Vehicle Insurance Transfer form

HDFC ERGO Commercial Vehicle Insurance Claim Form

About HDFC ERGO Personal Accident Insurance

About HDFC ERGO Two Wheeler Insurance

About HDFC ERGO Car Insurance