Commercial vehicle insurance is insurance that protects the policyholder against the unforeseen consequences of an accident. Commercial vehicle insurance is motor vehicle insurance tailored to cover damages and losses caused by or caused by commercial vehicles and their owners/drivers. All businesses are required to have commercial vehicle insurance for their vehicles. B. Auto-rickshaws, taxis, school buses, tractors, trucks, etc. Why do you need Commercial Vehicle Insurance? • If your business owns one or more vehicles, purchase commercial vehicle insurance that provides your business with financial protection and coverage for loss and damage caused by your vehicle and the people who use it. • If your main occupation involves using a motor vehicle. For example, regular taxi services, private school buses, and commercial vehicle insurance ensure that stakeholders and passengers are always protected and insured. • It is a legal requirement to have at least third-party liability insurance to protect third parties against damages and losses that commercial vehicles may cause.
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