Policy Summary
This policy provides comprehensive insurance to compensate the insured person or entity (individuals, businesses and logistics companies) against financial loss arising from accidental loss or damage to commercial motor vehicles including accessories thereon, whilst being used for carriage of goods for hire and reward. Also provides protection against legal liability for injury caused by insured motor vehicles to third party persons or for loss or damage to third party property.
Client profile
This policy is suitable for:
- Individual transporters providing their vehicles for hire to third parties to transport goods.
- Transportation companies involved in hiring out transport vehicles
- Logistics companies involved in transportation of third party goods
Main Features
It provides cover against:
- Loss or damage to the insured motor vehicle arising from accidental collision, overturning, fire, external explosion, self-ignition, lightning, burglary or theft and malicious damage.
- Death and/or bodily injury to any third party persons such as pedestrians and passengers in other vehicles. Third party persons exclude any member of the insured’s immediate family or insured’s employees.
- Damage to Third Party property arising out of the use of insured motor vehicle
