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Passenger Carrying Vehicle Insurance: Coverage, Benefits & How it Works
What is a Passenger Carrying Vehicle Insurance?
A passenger carrying vehicle insurance is a type of commercial vehicle insurance policy, designed to protect any commercial vehicles used for the purpose of transporting passengers from one place to another.
This passenger carrying vehicle insurance protects the vehicle from damages and losses that could arise in case of an accident, natural calamity or fire, amongst other unforeseen events.
The most common types of passenger carrying vehicle insurance policies include a bus insurance, van insurance, taxi/cab insurance and auto rickshaw insurance, among others.
Types of Passenger Carrying Vehicles Covered:
- Buses: Buses such as school buses, private tour buses and others used for the purpose of transporting passengers from one place to another are covered under a passenger carrying vehicle insurance policy.
- Auto Rickshaws: All auto rickshaws used for commercial purposes; transporting people from one place to another too can be covered under this policy.
- Taxis, Cabs and Commercial Cars: Taxi and commercial cars such as your daily uber, ola and other private cars used for commercial, public transportation can be covered under a passenger carrying vehicle insurance.
- Vans: Vans such as school vans and private tour minibuses used for commercial purposes too are covered under this policy.
Why should I buy a Passenger Carrying Vehicle Insurance?
- Protection from Unforeseen Losses: Whether it is due to a natural calamity, accident, collision or even a fire; a passenger carrying vehicle insurance helps compensate for these uncertain losses, and thereby protects your business from being liable to them.
- Comply with the Law: As per the Motor Vehicle Act, it is compulsory for all vehicles including ones used for commercial purposes to be insured with at least a basic, third-party motor insurance to help protect one from losses and damages caused to any third-party; such as a person, property or vehicle.
- Covers for Owner-Driver: Insuring your commercial vehicle with a passenger carrying vehicle insurance does not only protect the vehicle but, also covers for the owner-driver.
- Passenger Protection: While buying a passenger vehicle, one can also opt to cover for their passengers; thus, being a responsible business that cares for not only oneself but for all its stakeholders involved.
Why choose a Passenger Carrying Vehicle Insurance by Digit?
What's covered in a Passenger Carrying Vehicle Insurance?
What’s not covered?
It is equally important to know what’s not covered in your passenger carrying vehicle insurance policy so that there are no surprises when you make a claim. Here are some such situations:
If you've purchased only a Third-Party Passenger Vehicle Insurance Policy, then own damages and losses won’t be covered for.
If during a claim, the driver-owner is found to be without a valid driver’s license or under the influence of alcohol then the claim won’t be approved.
Any damages or losses caused to the vehicle due to contributory negligence won’t be covered. For example, if there are existing floods in the city, and one still drives the vehicle despite being recommended not to.
Consequential damages is any damages or losses that aren’t due to that of an accident, natural calamity or fire can’t be covered for.
Key Features of Passenger Carrying Vehicle Insurance by Digit
| Key Features | Digit Benefit |
|---|---|
| Claim Process | Paperless Claims |
| Customer Support | 24x7 Support |
| Additional Coverage | PA Cover, Legal Liability Cover, Special Exclusions and Compulsory Deductibles, etc |
| Damages to Third-Party | Unlimited Liability for Personal Damages, Up to 7.5 Lakhs for Property/Vehicle Damages |
Types of Passenger Carrying Vehicle Insurance Plans
Based on your type of passenger carrying vehicle; i.e. bus, rickshaw, van, etc; we primarily have two plans to choose from.
| Liability Only | Standard Package |
Damages caused by your passenger carrying vehicle to any third-party person or property. |
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Damages caused by your passenger carrying vehicle to a third-party vehicle |
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Loss or damages to own passenger carrying vehicle due to natural calamities, fire, theft or accidents. |
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Injury/death of passenger carrying vehicle owner-driverIf the owner-driver doesn’t already have a Personal Accident Cover from before |
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| Get Quote | Get Quote |
How to claim?
Call us at 1800-258-5956 or drop us an email at hello@godigit.com
Keep your details such as policy number, location of the accident, date & time of the accident, and contact number of the insured/caller handy to make our process easier.
FAQs about Passenger Carrying Vehicle Insurance Online in India
What is the difference between a third-party and comprehensive passenger carrying vehicle insurance package policy?
A third-party passenger carrying vehicle insurance only protects you against losses and damages caused to a third-party person, property or vehicle by your vehicle.
On the other hand, a comprehensive passenger carrying vehicle insurance package policy covers for damages and losses to your own vehicle and the owner-driver as well.
What is IDV in a passenger carrying vehicle insurance policy?
IDV refers to Insured Declared Value; which is nothing but the market value of your passenger carrying vehicle. It ultimately also helps decide your commercial vehicle insurance premium and claim payouts during claims.
Does a passenger carrying vehicle insurance also cover for the passengers or only the vehicle?
Yes, if you purchase a comprehensive passenger carrying vehicle insurance package policy, you can then also opt for a passenger cover to protect your passengers as well.
What are the benefits of buying a passenger carrying vehicle insurance online?
Buying a passenger carrying vehicle insurance online has many benefits; such as it saves you time (you need not go to an agent), no paperwork involved and the process of both buying the policy to making a claim is simple, and less time consuming!