Passenger carrying vehicle insurance is a type of commercial vehicle insurance policy that provides the protection to commercial passenger carrying vehicles against unforeseen events that may result in a financial loss to the policy holder. This insurance covers the vehicles used for commercial or public transportation against any kind of loss or damage that occurred in a road accident, fire accident, theft, natural calamity, etc. It also covers third party liabilities arising out of the vehicle and offers optional coverage for accidental injuries of the passengers.

Types of Passenger Carrying Vehicles in India:

Tourist Bus/School Bus/Public transportation Bus

Auto-Rickshaws

Three/Four-Wheeler Tempo

Cabs/Taxis

Passenger Carrying Vehicle Insurance Inclusions:

A passenger carrying vehicle insurance policy covers the following:

Accidental Loss & Damage – Any loss or damage caused to the vehicle in case of a road accident irrespective of whether the vehicle is carrying passengers or not

Natural Disasters – Any damage or loss caused to the vehicle in natural disasters like floods, typhoons, earthquakes, etc.

Theft – Losses incurred if the vehicle is stolen and, in some cases, the contents kept inside the vehicle

Fire Accidents – Loss or damages sustained if the vehicle catches fire due to excessive heat of the engine or a fire mishap.

Manmade Calamities – Loss or damages caused to the vehicle due to manmade calamities like terrorist activities, riots, etc.

Third-Party Liability – Any loss or damage caused to third parties in an accident resulting in third party liabilities Personal

Accident Coverage – Any bodily injury or death of the owner-driver of the vehicle due to an accident caused while driving the vehicle .

Towing Damaged Vehicle – Any damage or losses suffered by the passenger carrying vehicle while it was being towed.

Add-ons in Passenger Carrying Vehicle Insurance plan

All Motor-General vehicle insurance companies offer add-on covers to widen the coverage of a passenger carrying vehicle insurance policy. These add-ons can be purchased in exchange for a higher premium price. Take a look at some of the most common add-on covers available under the policy below.

Roadside Assistance Cover:

 Under this cover, the insurance company offers roadside assistance to the policyholder in case the passenger carrying vehicle breaks down in the middle of the road.

Zero Depreciation Cover: With this policy, depreciation on the commercial vehicle or its parts is not considered while paying the claim and thus, you get the full value of the vehicle in case of a total loss.

Passenger Cover: This add-on provides personal accident cover to the passengers travelling in a commercial vehicle in case an accident of the vehicle leads to accidental death or disability.

Tyre Protect Cover: This add-on ensures that the insurance company covers any non-accidental damages sustained by the tyres of the commercial passenger carrying vehicle.

How to Raise a Claim under Passenger Carrying Vehicle Insurance?

A policyholder can raise a claim for any unforeseen damage or loss caused to the passenger carrying vehicle offline or online. But to begin the claim process, the vehicle owner will have to inform the insurer about the accident that led to the damage.

While doing so, the following details should be provided to the insurance company:

Time, date and location of the incident that caused the damage

Policy number for reference

How did the incident take place?

Name and contact details of the owner

To begin with the commercial passenger carrying vehicle insurance claim process, the insurer will send a surveyor to assess the damages to your vehicle. The policyholder will have to submit some documents to the insurer. Based on the documents and the survey report, the insurer will accept or reject the claim. If accepted, the insurer will settle the claim amount once the vehicle has been repaired.

Document Required to Raise a Passenger Carrying Vehicle Insurance Claim

At the time of claim filling, the policyholder needs to submit the following documents to the insurance company:

Vehicle’s Registration Certificate (RC)

Copy of FIR Driving license copy Filled

claim form duly filled and signed

Aadhar card copy of policy holder &  Tax paid receipt of vehicle , Insurance policy papers, PUC Certificate, Newspaper cutting, if the mishap was printed in any.