Policy snapshot
A motor insurance policy designed specifically for vehicles used for commercial or business purposes.
What is Commercial Vehicle Insurance?
Commercial Vehicle Insurance provides mandatory third party liability cover and optional own damage cover for vehicles used for business or commercial activities such as goods carriers, taxis and company vehicles.
What can it cover?
- Third party liability for commercial use
- Own damage to insured commercial vehicle
- Theft or total loss of vehicle
- Fire, explosion and accidental damage
- Natural calamities and specified man made risks
Who should consider it?
- Small and medium businesses using vehicles for deliveries
- Traders and logistics operators
- Owners of goods carrying vehicles and light commercial vehicles
Key features to understand
- Tailored for commercial usage
- Meets regulatory requirements for commercial vehicles
- Optional add ons for enhanced protection
What deserves attention before you buy?
Coverage, exclusions, sub-limits, deductibles, waiting periods, warranties and underwriting can vary between insurers and policy versions. The policy wording and schedule remain the definitive contract. Novo can help you review the relevant terms for your requirement.
Read the wording, not just the brochure
The schedule and policy wording determine the actual contract.
Compare meaningful differences
Look at exclusions, limits, deductibles, conditions and claim requirements—not premium alone.
Think beyond purchase
Servicing and claims-related support can matter as much as placement.