Commercial Tipper Truck Insurance Price Check & Policy Renewal Online

Own Damages for Third-Party Policy holder

In the case of a Third-Party Liability Only Policy, damage to your 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.

Zero Depreciation Cover

As vehicles age, their parts naturally wear out, leading to a decrease in value. Typically, this depreciation amount is deducted from your claim payout, reducing the amount you receive. However, with the Zero Depreciation add-on, the depreciation is not deducted, resulting in a higher claim amount. 

Consumable Cover

The Consumable Cover add-on provides coverage for your tipper’s consumable yet often ignored items such as nuts, bolts, screws, engine oil, and grease that need repair or replacement after an accident. These items are usually not covered by standard insurance policies, but with this add-on, you can avoid out-of-pocket expenses for such repairs. 

Engine and Gear Box Protect

This add-on covers consequential damage to your tipper’s engine or gearbox following an accident, which can occur due to water ingress or leakage of lubricating oil. By opting for this add-on, you can save yourself from significant repair expenses and ensure the engine is maintained in optimal condition. 

Breakdown Assistance or Roadside Assistance

The Breakdown Assistance add-on is incredibly useful, providing 24/7 protection if your tipper breaks down due to an accident, flat tires, a malfunctioning battery, or other issues. Whether you're on a remote road or in a busy city, this add-on offers immediate help, including towing, minor repairs, and emergency fuel delivery. 

Additional Towing Expenses

If your tipper needs to be towed from the accident site to the nearest garage or a place of safety, this add-on will cover the towing costs. It ensures that your vehicle is safely transported without any extra financial burden on your pocket.

EMI Protection Cover

If your tipper is financed through a loan and is being repaired due to damage from an accident, it might cause a loss to your business. The EMI Protection add-on helps by covering the regular EMIs payable to the financier of the vehicle recorded in the insurer’s books. 

Loss of Revenue

If your tipper is undergoing repairs and causing a loss of income, the Loss of Revenue add-on compensates you for the income lost during the repair period. This ensures that your business remains financially stable even when your vehicle is out of service.

Personal Accident Cover

Your tipper truck insurance online policy should have a PA cover to protect you for bodily injury or death of the owner-driver in case of an accident. Also, having personal accident cover is compulsory by law in India. 

Unnamed PA Cover

People in the insured tipper at the time of any accident are safeguarded against any injuries with the help of this add-on cover.

Legal Liability

Protect your tipper and the business for which the insured tipper is used, against any legal liability that may arise due to an injury caused to your employees or someone who works for you, by getting this cover.

IMT 23

This add-on cover protects your tipper against any loss or damage to insured vehicle’s lamps, tyres, tubes, mudguards, bonnet, side part bumpers, headlights and paintwork in all cases, even in case of partial damage.

Electrical Accessories

All electrical accessories fitted in the tipper, which is not a part of the manufacturer’s model, are covered under this add-on.

Non-Electrical Accessories

All non-electrical accessories fitted in your insured tipper, which is not a part of the manufacturer’s model, are covered under this add-on.

Special Exclusions & Compulsory Deductibles

This add-on helps reduce your premium as you only have to pay a certain amount as your share of the loss, called the compulsory deductible. Additionally, it also covers the loss or damage to insured vehicle’s lamps, tyres, tubes, mudguards, bonnet, side part bumpers, headlights and paintwork if your vehicle is completely damaged.

Comprehensive or Standard Package Plan

This type of insurance provides extensive coverage for your Tipper, protecting it against its own damage as well as any damage or loss caused to third parties. By purchasing Comprehensive commercial vehicle insurance policy online, you gain enhanced protection against injuries, damage, natural disasters, and theft, along with the option to add extra coverage through various add-ons.

Third-party or Liability Only Plan

A third-party liability insurance plan for commercial vehicles covers only liabilities to third parties, which include damages or losses to another person's vehicle, property, or injuries caused by your vehicle. In India, it is legally required to have at least third-party liability insurance for all commercial vehicles. 

However, it's important to note that third-party insurance does not offer coverage for damages to your own vehicle, and you cannot opt for any add-ons with this plan. Also, the premium for a third-party liability policy is regulated and fixed by IRDAI.

Model, Engine & Make of the Tipper

The model, make and engine has a big role to play in determining the right tipper truck insurance price! Similarly, heavy weighing tippers generally fetch higher premium.

Vehicle Usage

The type of tipper and its usage (e.g., for construction, transportation) can impact the tipper insurance premium. Higher usage and riskier operations often lead to higher premiums.

No Claim Bonus (NCB)

If you haven't made any claims in the previous policy period, you can benefit from a discount on your premium in the form of No Claim Bonus, thus, reducing the insurance price for the next policy year.

Insured Declared Value (IDV)

The IDV of your commercial vehicle, which represents its current market value, also impacts the premium. A higher IDV leads to a higher premium.

Location

The area where the vehicle operates also influences its premium. High-risk areas with higher crime rates or accident frequencies can lead to higher premiums.

Coverage Type

The type of insurance coverage you choose (comprehensive, third-party, etc.) also affects the premium price, as a comprehensive plan usually costs more than a third-party plan because it offers broader protection.