Commercial Vehicle Insurance

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What is Commercial Vehicle Insurance?

Commercial vehicle insurance is a type of insurance plan that protects you against financial losses and liabilities that may arise due to the usage of vehicles in the course of business. Any accident or mishap may cause losses to the vehicle owner and third parties. This policy provides coverage against all such unforeseen losses.

Business vehicle insurance in the UAE is available for cars, bikes, and other types of motor vehicles that are used for commercial purposes. It is mandatory under the law for all vehicle owners in the UAE to purchase basic third-party insurance.
benefits of car insurance

Who Needs Commercial Vehicle Insurance?

Any individual or business entity that uses motor vehicles for commercial activities would require commercial vehicle insurance. This typically involves the transportation of goods or passengers from one place to another in exchange for money.

What are the Types of Vehicles Covered Under Commercial Vehicle Insurance?

Commercial auto insurance in the UAE covers different types of motor vehicles. The list is provided below:

Cars used as cabs or taxis

Cars owned by companies

Two-wheelers used for delivery

Large goods vehicles such as cargo vans and delivery trucks

commercial auto insurance

Food trucks and utility trucks

Box trucks and towing trucks

Commercial Auto Insurance Add-Ons

Add-ons in commercial auto insurance help policyholders enhance their coverage beyond the basic sum assured. Some of the popular add-ons are as follows:

Roadside Assistance Cover

This add-on cover provides support in the event of a sudden vehicle breakdown. It pays for services such as towing, changing flat tires, fuel delivery, and garage repairs & replacement.

Consumables Cover

This covers the cost of consumable substances such as engine oil, grease, nuts & bolts, screws, bearings, washers, etc

Zero Depreciation Cover

A standard depreciation is charged by the insurer on the vehicle and its components during claim settlement. A zero depreciation add-on cover helps you avoid this charge and maximize the claim amount.

Engine Protection Cover

This covers the loss due to the electrical or mechanical breakdown of the engine

Back to Invoice Cover

This add-on cover is beneficial during vehicle theft or damage. It helps the owner receive compensation equal to the vehicle’s invoice value. In the absence of this cover, the insurer typically pays the insured declared value (IDV) that may be lower than the invoice value.

Personal Accident Cover

This plan provides compensation if the vehicle driver gets severely injured or dies in an accident. It covers injury, disability, and death.

Passenger Assistance Cover

Passengers may also get injured during accidents. This add-on cover pays for their medical treatment and transportation expenses.

No-Claim Bonus Retention Cover

This add-on cover helps policyholders to avail of discounts (on premium payable) even if they have filed a claim during a policy period. Otherwise, the no-claim bonus is only given for claim-free years.

What are the Comprehensive Car Insurance Inclusions?

Comprehensive car insurance provides extensive coverage and includes the following:

What are the Comprehensive Car Insurance Exclusions?

Note the following exclusions from a comprehensive vehicle insurance plan:

Why Choose Commercial Vehicle Insurance from Prominent Insurance Brokers?

Prominent Insurance Brokers offers the best commercial vehicle insurance plans in the UAE. There are several other reasons why you must choose to associate with us for your business insurance needs:

We are amongst the top insurance brokers in the UAE with a distinguished track record of 20+ years in the insurance sector.

The company offers a wide range of insurance policies that are specifically designed to meet your requirements.

We have sold over 26,000 motor insurance policies and successfully settled 6,000+ claims.

We ensure fast settlement of claims supported by a dedicated claims management team.

The policyholders enjoy significant cost savings with attractive discounts on premiums and other value-added services.

We offer guidance from a professional team of insurance advisors to help you choose the right policy.

Prominent Insurance Brokers has forged partnerships with the top insurance companies in the UAE.

Documents Required to Buy Commercial Vehicle Insurance

The following set of documents is essential for purchasing commercial auto insurance in the UAE.

Emirates ID (for both citizens & residents)

Valid passport with a valid resident visa (for residents)

Driving license of the vehicle owner/driver

Company’s trade license (if applicable)

Registration number and certificate for the vehicle

Other relevant details such as vehicle model, engine number, chassis number, etc

Details of the previous vehicle insurance policy (if applicable)

Benefits of Buying Commercial Vehicle Insurance

There are several advantages to buying commercial vehicle insurance online in the UAE:

Comprehensive Coverage

Both third-party liabilities and own losses can be covered under commercial vehicle insurance. Insurance coverage is available even if the vehicle is used for personal reasons. A wide variety of commercial vehicles can be covered.

Single Insurance Coverage

Most insurance providers offer motor fleet insurance to cover all your commercial vehicles under a single plan. This reduces documentation and generates significant cost savings for your business.

Availability of Add-On Covers

Several add-on covers are available for policyholders to enhance their insurance coverage and customize the policy according to their specific needs

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Flexibility

It is possible to buy commercial vehicle insurance for single and multiple vehicles. If the vehicles are of different types, you can categorize them suitably to get optimal benefits.

Convenience

The procedure for purchasing or renewing commercial vehicle insurance is simple and hassle-free. You can purchase/renew the policy for multiple vehicles at one go.

Frequently Asked Questions on Commercial Vehicle Insurance

Yes, As per the UAE motor vehicle laws, it is mandatory for all vehicle owners to purchase basic third-party liability insurance. However, buying comprehensive vehicle insurance is advisable for better protection.

Any individual or business entity that owns vehicles intended to be used for commercial purposes in the UAE can purchase this insurance policy. The individual or business must be a citizen or a resident of the UAE.

The premium for business vehicle insurance varies based on the type of vehicle and the insurance provider. Several other factors, such as sum assured, type of insurance policy, vehicle model, past claims, etc., also influence the premium.

Yes. Commercial vehicle insurance also covers the loss or damage to the vehicle if it is used for personal reasons.

Both commercial vehicle insurance and motor fleet insurance cover business vehicles. However, fleet insurance requires a minimum of three vehicles to provide coverage. Commercial vehicle insurance can be purchased to cover a single vehicle.