Commercial Insurance

Insurance services offered through Exim Bank covers up employees, assets and safeguarding the businesses.

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Motor Insurance

Motor Insurance

Motor insurance (also known as car insurance or auto insurance) provides financial protection for vehicles against accidents, theft, and other risks.

There are three types of motor insurance covers available for the vehicles:

  • Third party liability cover – this covers only the legal liability arising out of the use of motor vehicle.
  • Third party liability with fire and theft cover – this covers the theft of entire vehicle only and loss due to fire in addition to the mandatory legal liability cover.
  • Comprehensive cover – this covers all accidental losses (incl. theft and fire) in addition to the legal liability cover. The sum insured to be opted by you should reflect the current day market value of a similar vehicle i.e the amount that your vehicle would fetch in the market in “as is condition” if put up for sale.

Reasons to Insure:

  • 1
    Legal Requirement: Most jurisdictions mandate motor insurance for vehicles. Businesses with company cars or delivery vehicles must comply.
  • 2
    Financial Protection: Covers repair costs and damages to vehicles due to accidents, theft, or natural calamities.
  • 3
    Third-Party Liability: Protects against claims from injured parties or property damage caused by the insured vehicle.
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